Question 1

What is logistics and supply chain all about?

Accepted Answer

The supply chain is the community formed between an employer and a provider to create and dispense goods. Logistics is the mechanism of collecting, transferring, and storing sources. The primary objective of logistics and supply chain management is to reduce overall delivery costs, reduce the final delivery time and maintain the quality of packaged goods during transit.

All of this indicates that reducing and optimizing the hard labor should no longer affect the high-quality of carriers and commodities given or brought by any firm. Logistics tasks include transportation, statistics processing, and distribution processing.

Question 2

Why is logistics & supply chain management important?

Accepted Answer

The following are the benefits of supply chain logistic management:

Improved customer satisfaction
Reduction of operating cost
Improved cash flow
More efficient sourcing and procurement
Safeguarding the supply of raw material
Better inventory management
Better partnerships with the distributors
Ensure adherence to legal and ethical standards
Provides a competitive advantage in this industry

Following is a list of the functions of logistics and supply chain management:

Processing the customer's order
Handling of the raw material
Storage of the goods and raw material
Managing the inventory
Transportation of raw materials and the goods
Packaging of goods
Monitoring all the data

Question 3

Is Logistics the same as Supply Chain Management?

Accepted Answer

Logistics and supply chain management are often used interchangeably. While these two terms do have some similarities, they are, in fact, different concepts with different meanings. It is understood with the following tabular comparison -

Logistics	Supply Chain Management
The primary concern is optimizing the flow of products and information in and out of the organization.	Supply Chain Management deals with the integration of all partners in the value chain.
Logistics essentially works as a framework to monitor an organization's in and outflow of products and information.	Building upon the framework of this integration, it creates a linkage between different processes and other entities.
Their main focus is the distribution and transportation of information and products.	The main focus is procurement and purchasing, production planning, and demand management from beginning to end.

Question 4

What is the scope of supply chain and logistics?

Accepted Answer

It guarantees high job satisfaction and opportunities for advancement because the scope of supply chain management is rapidly expanding, and career opportunities in this field are growing year after year. While traditional roles undergo digital transformation, new roles requiring specific abilities emerge.

As a career for beginners, supply chain and logistics are an excellent opportunities to grow their careers fast. Supply chain professions often pay well, and there are plenty of chances for advancement. The professional path provides good work satisfaction and is difficult to become tired of. So all this is kept in mind. Supply chain and logistics is a very good career option for a beginner.

Question 5

What is the best way to study supply chain management?

Accepted Answer

Supply chain management can be studied as a degree program - diploma, undergraduate, or postgraduate or through online course providers in the form of short-length certifications.

The certificate courses' average duration is less than a year and can be pursued online and on-campus. However, more and more aspirants are choosing online courses over other options. The top platforms offering such courses are Udemy, edX, Coursera, Alison, etc.

Interested candidates can even pursue a Masters in Logistics and Supply Chain Management to develop analytical and decision-making abilities through analysis based on real-life case studies. Most importantly, it helps increase the chances of getting hired in high-level jobs and develops skills while simultaneously gaining valuable experience.

Benefits/career opportunities after completing the supply chain management course are:

Supply chain analyst
Customer service management
Warehouse operations manager
Supply chain software manager

Question 6

Who can build a career in logistics & supply chain management?

Accepted Answer

The skills and academic requirements differ depending on the job title. For a supply chain and logistics career, you must have at least a bachelor’s in supply chain management or a degree in accounting, information management, marketing, business administration, or engineering.

Further, supply chain management and logistics share overlapping skill sets. They both demand a general understanding of all supply chain functions and components and require a strong command of soft skills. Additionally, as supply chain activities shift to more strategic, high-level tasks, there is a growing need for analytical skills.

Here are some skills that are required from a supply chain and logistics professional -

Relationship building & management skills
Numerical skills, including knowledge of statistics
IT skills, including knowledge of Microsoft Office Suite and the use of specialist software for ERP.
Leadership
Problem-solving

Question 7

What skills are needed for logistics and supply chain management?

Accepted Answer

Skills required for working in supply chain and logistics management -

Project management: These abilities are especially useful if you currently hold or plan to hold a supervisory position in logistics.
Customer focus: People who work in supply chain management may be assigned to one or more sections of a manufacturing process, such as
- Inventory control
- Material transfer
- Production administration,
- Product exchange
Technological aptitude: Machine automation has recently made several logistics procedures faster and easier. Other digital tools, such as GPS (Global Positioning System) tracking software and inventory management applications, have also enhanced supply chain management efficiency by reducing procedures and recording the statistics of specific activities.
Interpersonal skills: Because each job in these processes complements the others, teamwork is a fundamental component of any supply chain management system.

Question 8

Which are the best supply chain courses?

Accepted Answer

Due to rising demand, the supply chain management domain remains one of the most promising career paths. Even in the future, the supply chain's scope will remain massive. Various courses are available for aspirants who want to work in this industry and make a career in Supply Chain Management. Some of these courses are

Question 9

Does the supply chain have a future?

Accepted Answer

Supply chain management is a good career option because it has plenty of job offers. In addition to that, supply chain jobs offer good salaries as well. Individuals benefit greatly from all of this terrible news, wishing to enter the ever-growing supply chain and logistics assistance sector. The global supply chain management industry is predicted to increase by 11.2 percent from 2020 to 2027, with annual revenues of $37.4 billion in 2020. In less data-heavy terms, the future is bright, and your supply chain and logistics degree are useful because there are plenty of chances for progress.

Question 10

What are the jobs after logistics and supply chain management?

Accepted Answer

There are various job opportunities in supply chain and logistics. Some of the common job titles are

Supply chain analyst
Customer service management
Warehouse operations manager,
Supply chain software manager.

The top high-paying job roles in this industry include -

Job Title	Average Annual Salary in USD	Average Annual Salary in INR
Purchasing manager	$122,557	₹10,08,032
Quality manager	$82,772	₹9,03,894
Capacity manager	$73,903	₹7,98,849
Global commodity manager	$112,303	₹12,45,977

Question 11

Which are the highest-paid job roles in logistic management and supply chain management?

Accepted Answer

The top 5 highest-paid job roles in logistics and supply chain management are -

Supply chain analyst
Supply chain manager
Capacity manager
Sourcing manager
Quality manager

Entry-level top roles are -

Roles	Average Annual Salary (in USD)	Average Annual Salary (in INR)
Warehouse operator	$31,170	₹2.4 lakh
Packing associates	$33,995	₹1.8 lakh
Logistic technician	$34,003	₹2.1 Lakhs
Logistic coordinator	$36,261	₹2.6 Lakh

Top-level roles are -

Roles	Average Annual Salary (in USD)	Average Annual Salary (in INR)
Inventory manager	$60,535	₹4 Lakh
logistic manager	$61,605	₹6.6 Lakh
Transport manager	$63,508	₹4.5 Lakh
Facilities manager	$64,084	₹6.5 Lakh

LinkedIn says there are more than 10,000 job openings in the supply chain and logistics sector.

Logistics & Supply Chain Management

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