Supply chain management has been recognized by top companies around the world as a way to drive business growth. The supply chain was originally a way for businesses mitigate delivery risks. It is now a key component of revenue growth.
J. Paul Dittmann conducted a research project on the evolution of supply chain management functions at the Haslam College of Business. He described how companies can create shareholder value by using the supply chains. He stated that many companies have an outdated view of the supply chain and see it as just warehouses, trucks, and pallets. These companies don’t realize the value that the supply chain can bring to their business.
Modern and comprehensive knowledge in the industry is essential for supply chain managers. They must understand the global supply chain ecosystems, the potential disruption of traditional supply chains, and how this disruption can be a huge opportunity.
What do Supply Chain Managers Do?
Globalization has seen supply chains flourish, with companies regularly importing products and materials from different parts of the globe. Both the supplier and client must be efficient in managing these goods.
Supply chain managers are responsible for ensuring smooth operations, from inventory to service to delivery, and all other needs in between. Supply chain managers play an important role in the import-export process. They are responsible for sourcing materials, delivery, and customer support after delivery.
There are many tasks that a supply-chain manager can complete in a single day. Their essential roles are as follows:
– Manage all orders and procure services from global suppliers.
– Supervise deliveries, operations, and logistics.
– Streamline shipping operations and packaging.
– Reduce costs in supply chains at enterprise level
– Increase productivity and efficiency by using scheduling activities and planners, and review performance records frequently.
– Manage orders and return while optimizing inventory.
– Identify ways to add products through productive relationships.
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– Work with end consumers to resolve conflicts.
– Develop, purchase and deploy products
How much do Supply Chain Managers make?
According to the US Bureau of Labour Statistics, supply chain managers’ salaries can range from USD 44.440 to USD 119.250 per year. The average annual salary for most SCMs is USD 74,600.
PayScale data shows that supply chain managers make more than other professionals. According to a survey, SCM professionals reported that their average annual salary was USD 81 436. This includes bonuses, base salaries, profit sharing, commissions, and other compensation, which can provide some variance.
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