Logistics & Supply Chain Management- Scope and Opportunities

In 2021, the Indian logistics market was worth $250 billion and contributed to almost 14.4% of India’s GDP. Statistics suggest that the Indian logistics and supply chain market gives employment to more than 22 million people.

Logistics & Supply chain is the journey from raw materials to finished goods to the end consumer. This journey is an interlinked chain hence the name. 

The start point of this chain is from procuring the raw materials and the endpoint is the finished good reaching the end consumer. The activities involved in this journey need to be performed efficiently, effectively, punctually, cost-effectively, and satisfactorily.

A well-planned and managed supply chain and logistics can reduce costs, drive more profits, boost efficiency, enhance customer satisfaction, and build brand credibility. Hence developing a strong supply chain is crucial for any business to increase its productivity and profitability.

If anyone wishes to enter this industry or excel in it, possessing specific skills are important – 

  • Time management – Punctuality, and effective time management are the most important skills one must possess to excel in the logistics domain. Timely delivery of raw materials reduces production delays, and timely delivery of finished goods enhances consumer satisfaction. Hence timing is the key player in good logistics & supply chain management.
  • Communication – A chain has interconnected links that become strong due to communication. Seamless and transparent communication is important in any supply chain. Hence strong communication skills should be a core competency of any SCM manager.
  • Leadership – Controlling, coordinating, and monitoring the entire chain requires strong leadership skills.
  • Research – A curious mind and the ability to adapt to changing trends are required to stay relevant. This comes through a habit of doing research and staying updated with the current market conditions.
  • Problem-solving – Identifying bottlenecks and resolving conflicts between different levels in the chain need to be done tactfully for the chain not to collapse. Hence a keen problem-solving attitude is a must-have skill.
  • Analytics – Interpreting the data, monitoring the activities, and developing ways to increase efficiency requires one to possess great analytical skills.
  • People management– Since many people are involved in the process, liaising with them, guiding them, evaluating their performance, and resolving their conflicts is the job of the manager. Hence in such cases, a manager must possess people management skills.

Potential careers in the logistics & supply chain management market are – 

  • Freight Manager
  • Dispatch Manager
  • Supply Chain Manager
  • Transportation Manager
  • Warehouse Operations Manager
  • Export Manager
  • Purchasing Manager
  • Supply Chain Software Manager
  • International Logistics Manager
  • Master Production Scheduler
  • Supply Chain Distributor

Logistics & Supply chain provides a myriad of career opportunities for freshers and veterans alike to excel. The average salary in this domain ranges from Rs. 4 LPA to Rs. 12 LPA. Due to the ample opportunities coming to light due to rising awareness and the importance of green logistics, reverse logistics, and Q-commerce, the domain is gaining impetus. Hence, this is a lucrative opportunity for anyone wishing to enter this domain especially post-pandemic

The first step to starting a career or enhancing the existing career growth in the logistics and supply chain domain is pursuing an MBA degree or a PG diploma. This helps the candidate to acquire the skills required for a rewarding career. MBA or Post Graduate Diploma in Management (PGDM) are holistic courses that train the candidate in the skills required to be a successful supply chain manager. The courses are designed to suit the career-related needs of working professionals.

MIT School of Distance Education (MITSDE), is a distance education institute approved by AICTE, which is engaged in imparting necessary skills through Post Graduate Diploma in Logistics & Supply Chain Management (PGDM – Logistics & Supply Chain). This course covers the basics of Supply Chain Management (SCM), challenges in the industry, people management skills, ethical decision-making, Green manufacturing, logistics processes, best practices in the global supply chain, inventory management, and CSR.