Check Supply Chain Management Salary in India

Supply Chain Management (SCM) has grown significantly in recent years due to the globalisation of businesses and the need for efficient and effective supply chains. In India, the SCM industry is expected to grow from 13.8 billion in 2016 to 32.5 billion by 2025, at a CAGR of 12.9%. This growth is driven by the increasing demand for SCM services from industries such as manufacturing, retail, healthcare, and others.

Supply chain management encompasses the integration of planning and process execution which need to manage the movement of material, information and financial resources. It broadly comprises demand planning, sourcing, production, inventory management and storage, transportation or logistics. The development of new technologies has made it possible for businesses to gain a greater understanding of their supply chains and to manage them more effectively. Each sector involved in manufacturing and shipping recognised as main areas for working professionals. 

Did you know? Each sector involved in manufacturing and shipping recognized as main areas for working professionals. Supply chain management companies look for management of goods and services. 

What is Supply Chain Management?

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Supply Chain Management is managing the flow of goods and services from the point of origin to the point of consumption. It includes the coordination of production, inventory, transportation, and warehousing. Companies could deduct extra costs and deliver the product to the consumer faster. The process needs each stakeholder to be included in the system. 

For example, Overtaking Walmart as the largest retailer for the last decade, Amazon’s “online big box” concept is an example for the supply chain. They cut the retail store out and ship it to the purchaser's house directly. 

Steps in Supply Chain Management

Step 1: Planning

The first step in supply chain management is planning. This includes forecasting demand, setting production goals, and determining the best way to meet those goals.

Step 2: Sourcing

The next step is sourcing. This includes finding the suppliers who can provide the raw materials or components needed to produce the goods or services.

Step 3: Production

The third step is production. This is where the goods or services are produced.

Step 4: Inventory

The fourth step is inventory. This is where the goods or services are stored until they are needed.

Step 5: Transportation

The fifth step is transportation. This is how the goods or services are moved from the point of production to the end of consumption.

Step 6: Distribution

The final step is distribution. This is how the goods or services are delivered to the customer.

Salary for Supply Chain Management Sector in India

Supply chain management (SCM) is the active management of supply chain activities to maximise customer value and achieve sustainable competitive advantage. It represents a conscious effort by the supply chain firms to develop and run supply chains in the most effective & efficient ways possible. Each job role in SCM plays a vital role in making the supply chain an ease.

The leading job roles in SCM are

• Supply Chain Manager: 

A Supply Chain Manager is responsible for the flow of goods and materials throughout a company. They ensure that the right products are delivered to the right location at the right time. They work closely with suppliers, manufacturers, and distributors to ensure that all products are made and delivered according to schedule. They also work with logistics managers to plan and coordinate the transportation of goods.

1. Supply Chain Managers are responsible for the coordination and management of activities within the supply chain. This includes developing and implementing strategies to improve the efficiency of the supply chain.

2. Supply Chain Managers are responsible for ensuring that the supply chain meets the needs of the company. They develop and implement strategies to improve the efficiency of the supply chain.

• Supply Chain Planner: 

A supply chain planner is a professional who is responsible for developing and managing a company's supply chain. The supply chain is the network of suppliers, manufacturers, distributors, and retailers that are involved in the production, distribution, and sale of a product or service. The supply chain planner is responsible for ensuring that the supply chain runs smoothly and efficiently. They work closely with suppliers, manufacturers, distributors, and retailers to ensure that the supply chain is able to meet the demands of the company.

• They develop and manage a company's supply chain
• They create plans and schedules for the production, distribution, and sale of products and services
• They monitor the performance of the supply chain and make adjustments as necessary: The supply chain planner monitors the performance of the supply chain and makes adjustments as necessary to ensure that the chain is running smoothly and efficiently.

• Supply Chain Coordinator: 

The title of supply chain coordinator is most commonly used in the retail industry. A supply chain coordinator manager is responsible for the coordination and management of all activities related to the supply chain, including but not limited to purchasing, warehousing, transportation, and customer service. 

The supply chain coordinator works to ensure that all parts of the supply chain are running smoothly and efficiently. They may develop and implement strategies to improve the supply chain or work with suppliers to solve problems. In some cases, the supply chain coordinator may be responsible for training other members of the supply chain team.

1. A supply chain coordinator is responsible for managing and tracking inventory levels. This includes keeping track of what inventory is available, where it is located, and how much is needed.

2. A supply chain coordinator is responsible for monitoring supplier performance. This includes ensuring that suppliers are meeting quality standards and delivery deadlines.

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3. A supply chain coordinator is responsible for managing transportation and logistics. This includes coordinating shipments, tracking delivery times, and ensuring that products arrive safely and on time.

4. A supply chain coordinator is responsible for coordinating with customer service. This includes ensuring that customer inquiries are handled promptly and that orders are fulfilled accurately.

5. A supply chain coordinator is responsible for planning and forecasting future inventory needs. This includes analyzing trends, predicting customer demand, and determining how much inventory will be needed to meet future demand.

• Supply Chain Analyst: 

They are responsible for ensuring that an organisation's supply chain is efficient and effective. They work closely with suppliers, manufacturers, and other partners to ensure that materials and products flow smoothly through the supply chain. To do this, they must have a strong understanding of the entire supply chain process and be able to identify areas of improvement. They also work with data and analytics to improve forecasting and decision-making.

1. Supply chain analysts are responsible for analyzing and improving the supply chain for their company. They use data and analytics to identify trends and optimize the supply chain.

2. They work with suppliers to ensure that materials and products are delivered on time and at the right cost. They develop and implement plans to improve the efficiency of the supply chain.

3. They track and report on KPIs (Key Performance Indicator) to measure the performance of the supply chain.

Supply chain management will continue to grow in popularity as a career choice as companies increasingly recognise the importance of efficient and effective supply chains. The field offers opportunities for those with strong analytical and problem-solving skills to make a significant impact on a company's bottom line. With the globalisation of business, supply chain management has become an increasingly complex and challenging field, offering ample opportunity for career growth.

Eligibility to Become a Supply Chain Manager

For your information, the basic requirements for becoming a supply chain manager are provided below:

• Students who want to work in supply chain management should have completed their Class 12 board examinations with at least 60% overall or an equivalent CGPA, particularly in subjects from the Commerce stream.
• The completion of undergraduate or graduate studies, such as a BBA or MBA in supply chain management, is required of all students.
• Candidates must have earned their undergraduate or graduate degrees from a reputable university with a minimum of 55% overall marks or an equivalent CGPA.

Skills Required to Become a Supply Chain Manager

Benefits of Working as a Supply Chain Manager

Being a supply chain manager is one of the careers with the most reputation and the fastest growth, and it has many benefits. If you've always been drawn to the manufacturing sectors, this line of work might be all you could ever want. Here, we've listed a few advantages of working as a supply chain manager.

High Salary Packages: As we are all aware, there is an increasing need for supply chain managers. As a result, the salary package is adequate for both new hires and seasoned professionals. The average salary should be ₹3 LPA, while the salary for the first experience should be ₹20 LPA.

Develop Your Skills: A supply chain manager has a lot of responsibility. Candidates must therefore develop their handling abilities in order to handle the obligation.

Better Cost Management: One of the most significant advantages of supply chain management systems is improved cost management when handling the inventory system, storing the finished goods, and maintaining positive connections with both distributors and vendors, which will lead to lower prices.

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Conclusion

The growth of supply chain management as a career choice is being driven by the globalisation of business and the increasing complexity of supply chains. According to a recent study by Deloitte, the number of jobs in supply chain management is expected to grow by 21% between 2016 and 2026. This growth is being driven by the need for companies to optimise their supply chains to remain competitive.

Supply chain management has grown in popularity over the past 20 years due to several factors. Firstly, globalisation has led to businesses operating in increasingly complex and competitive environments. This has made it necessary for organisations to optimise their supply chains to remain competitive. Secondly, the development of new technologies has made it possible for businesses to manage their supply chains more effectively. Finally, the growth of the internet has made it easier for businesses to connect with suppliers and customers and exchange information about the supply chain.

In India, the supply chain management field is expected to grow even faster, with a projected growth rate of 30%. This is due to the increasing number of multinational companies setting up operations in India and the need for efficient supply chain management to support these businesses. The career prospects for those interested in supply chain management are therefore very good.

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