Boosting Your Career and Salary in Supply Chain Management

if I were Consider a career in supply chain managementYou may be wondering what potential salary you can expect. Understanding average salaries in this field and how to maximize your earning potential can help you make informed decisions about your career path.

Watch this vlog to understand Why Supply Chain Management is a Great Career Option.

Average salary range for supply chain management professionals

The average salary for supply chain management professionals can vary depending on experience, education, industry, and location. According to recent data, the average salary for supply chain managers is about $90,000 annually. However, salaries can range from $60,000 to over $120,000, depending on the specific role and level of responsibility. It is important to note that salaries can also be affected by factors such as certifications, additional skills, and the size and complexity of the organization. By constantly developing your skills and knowledge in this field, you can increase your earning potential in supply chain management.

Constantly improving yourself and your skills is crucial to success in life. For employees, upskilling can help you advance in your current organizational roles, provide professional development, and increase your salary. Because upskilling also boosts worker productivity and morale, enables employee growth, increases flexibility, and improves an organization’s reputation for supporting its employees, companies are often willing to help you in your endeavours.

The salary increases with the increase in the position; Average supply chain analyst salary $78,400while a supply chain manager earns, on average $114,750. Skills to be honed include decision making, risk management, time management, commitment to quality and a strong sense of ethics. Let’s look at how you can help expand your skills to advance your career and earn more.

1. Pursue higher education

While an associate or bachelor’s degree makes you eligible to work in the supply chain industry, you can pursue a master’s degree to raise skills or move up ranks. Consider getting a master’s degree manufacturing degreeswhich will give you an overview of contemporary global manufacturing operations and help you apply the knowledge, skills, and attitudes that managers need in cross-functional environments.

Choosing to earn an online degree will reduce the cost of transportation, study materials, and rent while giving you the same benefits you would get from an in-person degree. These degrees also come with financial aid and military benefits. With these, you can avoid getting into excessive debt and falling victim to “expert syndrome,” which refers to having credentials without real-world experience.

One of the best ways to increase your supply chain management salary is to enroll in the SCMDOJO Academy and become a supply chain professional.

Plany’s SCMDOJO Academy Pro Plan offers world-class certification courses and best practices that enable you to learn and thrive at your own pace, on your terms.

2. Networks

You can develop connections by becoming part of an extensive alumni network, participating in industry events, networking with peers and mentors in your field, or joining professional associations. Benefits you can take advantage of include member discounts on financial services, discounts on continuing education classes, and developing a professional connection. They can help you transition into your new field and stay current on supply chain management issues.

3. Develop your IT skills

Today’s supply chain systems run on various technology tools, such as ERP systems, blockchain, artificial intelligence, machine learning, and more, which requires great IT skills for a leadership position. You need to understand your company’s technology and discuss it with vendors.

Be familiar with enterprise software applications such as TMS, and understand analytics software to aid decision making. When you become adept at improving procedures and driving innovation in your field, it opens the door to higher paying jobs where you position yourself as a valuable asset.

4. Embody the three elements of a strong supply chain

To advance your career, you need to demonstrate strong leadership and take various initiatives, which you can do by embodying the 3Cs of Effective Supply Chain Leadership.

• communicationYou must communicate your ideas well and articulate complex concepts, goals, and criteria so that others can understand and achieve these goals. Since many people and departments are involved in the supply chain process, you should get the best results by building professional relationships and interacting with others.
• changVariations, disruptions, and external factors such as natural disasters, power outages, and political instability affect the supply chain. You must be adaptable and flexible to be able to respond to these changes and create safety nets to address issues before they significantly affect the supply chain.
• cooperationYou will work with different teams, both inside and outside your companies, with competing priorities and expectations; You need to enhance collaboration skills through negotiation, flexibility, and persuasion to get what you or your company wants. This will also help you share supply chain insights and promote innovative strategies to gain an edge over competing companies.

Endnote

A large number of opportunities are available within the supply chain industry; Consider the people who best fit your needs, personalities, and interests. You can open doors to higher opportunities by working hard to achieve your goals, whether by pursuing higher education, networking, developing yourself, or enhancing your skills.