MBA in Logistics & Supply Chain Management: Huge demand for specialised candidates
MBA in Logistics & Supply Chain Management - Due to the growth in e-commerce, retail and manufacturing, there is a huge demand for candidates who have done MBA in Logistics & Supply Chain Management. The programme studies the entire process of the product cycle from collecting raw material to delivering the final product to market. To bring the in-depth knowledge of the sector to the table, MBA in Logistics & Supply Chain Management programme covers topics such as Trade Operations, Commercial Geography, Liner Industry, Operational Strategic & Implementation issues in Supply Chain Performance Metrics & Modelling, Logistics Management and recent SCM trends. Let’s know more about MBA in Logistics & Supply Chain Management programme and the industry in detail.
What is Logistics & Supply Chain Management?
In simple words, Logistics & SCM can be defined as the process of accumulating raw material and delivering final products to market. Let’s understand the terms in detail. Logistics is perfectly defined by the author John J. Coyle through seven Rs – Delivering the right product, to the right customer, in the right quantity, in the right condition, at the right place, at the right time and at the right cost.
Logistics is further divided into two categories – Inbound Logistics and Outbound Logistics. Movement of raw material and goods from suppliers to a company is known as Inbound logistics and movement of final goods from a company to market/customers is known as outbound logistics.
Supply Chain Management (SCM) involves the management of the entire supply chain which includes the flow of goods and services from supplier to manufacturer to wholesaler to retailer to consumer. Logistics and SCM industry contributes to the economy in a major way as it’s related to multiple other industries. And, that’s why the demand for a specialised MBA programme in this sector is observing a rise.
About Logistics & Supply Chain Management Sector
Logistics & Supply Chain Management or Logistics & SCM industry provides most efficient and cost-effective flow of goods. The sector is observing rapid growth due to the growth in e-commerce, retail and manufacturing sector creating millions of jobs every year in India and across the globe.
According to a study by Institute of Logistics & Aviation Management (ILAM), the entire logistics industry which combines national and international logistics and delivery system both value more than $ 8 trillion and it’s expected to reach $ 15.5 trillion by 2023. The sector alone provides jobs to more than 40 million professionals across the globe and expected to create millions more in the coming years. The study also says that Logistics and SCM sector contributes 13-15 percent to India’s GDP. German Logistics giant DHL will invest $ 100 million in India in this sector and Indian firms like Gati, XPS and Safeexpress are expanding to other countries like Sri Lanka, Singapore, UAE etc.
MBA in Logistics & Supply Chain Management - Industry Facts
Logistics sector acts as the backbone of growth for a country. India is one of the fastest growing economies in the world. And, to support the pace of the economy, the growth of the logistics and SCM industry is very crucial as it contributes to 13% of the country’s GDP.
Market value of logistics has already crossed $4 trillion mark which accounts more than 10% of the global GDP.
For harmonisation of warehousing which plays a major role in the growth of the logistics industry, Government of India has brought GST into picture for an optimal and efficient supply chain planning.
India’s e-commerce industry plays a very crucial role in the sector.
Why MBA in Logistics & Supply Chain Management course is important?
The above-mentioned figures reveal the vastness of the sector and the opportunities in it. To cater the needs of the globally growing sector by creating industry smart professionals, institutes/colleges/universities in India are offering the specialised programme in this stream – MBA in Logistics & Supply Chain Management.
Dr. Madhu Chitkara,
The next big thing in the Indian industry
Careers360: What is the importance of specialisation in ‘Logistics and Supply Chain Management’ programme in today’s scenario?
Dr. Madhu: Specialisation in Logistic and Supply Chain Management is the next big thing in the Indian industrial context. Due to the globalization of businesses, proliferation of product variety, spread of e-commerce, increasing supply networks and shortening of product life cycles has increased the demand for manpower in this sector.
Considering the present scenario where there is an acute shortage of trained manpower, the specialization in Logistics and Supply Chain Management offers high employability to the potential graduates.
Careers360: How many seats your college/university offers and what’s the fee structure for this Programme?
Dr. Madhu: The two-year MBA programme in Logistics and Supply Chain Management is one of the elite programmes of Chitkara Business School. The intake is limited for this programme. And, the total fee for the entire programme is four and a half lakhs rupees approximately.
Careers360: What is the Unique Selling Proposition (USP) of the specialisation that you offer?
Dr. Madhu: Most of our undergraduate and post-graduate programmes are curated and are in collaboration with the industry and its experts.
Chitkara University has collaborated with India’s largest supply chain & logistics company – SAFEXPRESS to create a specialized two-year MBA programme in Supply Chain Management for the students. Coupled with Chitkara Business School’s world-class faculty and our industry partner Safeducate, this 21st-century business curriculum offers students rich opportunities to closely examine theories, industry practices and trends in logistics and supply chain management. The students are apprised of refined knowledge of International Trade Operations, Commercial Geography, Liner Industry, Operational, Strategic & Implementation issues in Supply Chain Performance Metrics & Modelling, Logistics Management and recent SCM trends.
The classroom training is further followed by a six-month industry internship in various organizations. This internship is meant to provide extensive on-ground training in supply chain & logistics to the students.
This unique programme helps the students in building a career with supply chain & logistics industry.
Careers360: Tell us how the industry demand for MBA in ‘Logistics and Supply Chain Management’ is changing?
Dr. Madhu: The Logistics and Supply Chain Industry is one of the dynamic industries. A lot of innovation and diversification has happened in it and will further happen in future too. The demand for manpower for this industry has also changed with the span of time. Earlier, the industry used to hire graduates or students who had their expertise in general administration. These companies/organizations used to invest a lot in their training and development.
A large proportion of people couldn’t cope up with the dynamic environment of this industry and would leave the organization resulting in high attrition rate. They have now started recruiting people who had knowledge or done specialization in SCM.