Supply Chain Management

The supply chain management field is detrimental for manufacturers health, and company prosperity. As a supply chain manager, you must have a highly analytical mindset. Analyzing and monitoring the supply and demand of a companies product and inventory is a large part of the job description. Supply chain affects nearly every part of the economy, due to the fact it is involved in inventory transportation (and transportation costs), alongside making sure that what is being provided is not overkill, and the right amount is being made. Excess and unneeded products are wasteful, to both the companies money and the environment. Supply chain is defined by optimizing a manufacturers performance, maximizing speed, and overall company efficiency.

Facts and Statistics

• Job growth is increasing substantially (7% from 2017 - 2024)
• 10%, or 1.3 trillion of US GDP is spent on the supply chain field
• Michigan State is ranked second in supply chain programs, Penn State being in the lead
• Starting salaries are approximately $61,000. Some can make up to $100,000 - $121,000 with experience

Job Description and Responsibilities

• Monitoring costs and flow of inventory
• Maintaining efficiency within the company by balancing speed and efficiency
• Analyzing procedures, and eliminating redundant or unnecessary steps in manufacturing products to increase flow
• Negotiating with other partnered companies

Three levels:

• Strategic
• Operational
• Tactical

Written by: Chandler A. Maples

Citations:

Supply Chain and Logistics Fun Facts and Statistics – David Kiger's Blog

Explain the Term "Supply Chain" and Its Importance to Cost Management | Chron.com