There is little doubt that advanced business degrees are an incredibly valuable asset in the business world. For those who are interested in managing a potentially global network of assets and infrastructure, a Master of Logistics and Supply Chain Management can be a viable option.
The growing importance of Logistics and SCM
Logistics and Supply Chain Management (SCM) is one of the most robust and growing industries in the United States. Individuals with a Master of Logistics and SCM are highly desired in a number of industries, including retail/service companies, government and public agencies, and companies that have a national or international distribution network.
Job opportunities in Logistics and SCM
The United States Department of Labor estimates that our economy will need around 1 million new workers with logistics and SCM qualifications. For those who have a Master of Logistics and SCM, the Department of Labor expects an average of a 17% salary premium over those who do not have that particular Master’s degree. This means that those entering into this type of program will almost certainly graduate into an economy that is screaming for workers just like them — providing those graduates with substantially more opportunities than the average worker.
Why you should consider Logistics and SCM
As the world becomes increasingly connected and globalized, logistical needs will only become more complex and more important. For those who have a passion (or even just a slight interest) in managing such complex systems, while working to make them run as reliably and efficiently as possible, now is the ideal time to get a Master’s degree in the field.
The bottom line is that business owners — even if they understand the importance of optimizing their logistical framework — typically do not have the expertise to maximize everything they can out of their SCM infrastructure. Even more business owners have yet to set up such an infrastructure, and require the expertise of someone else; i.e., someone who will have a great deal of leverage when negotiating salary, benefits, etc.
Even if you ultimately plan to go into business for yourself, having a Master’s degree in Logistics and SCM will help ensure that you have the knowledge you need, without depending on the expertise of someone else.