What Can I Expect from an Online MBA In Supply Chain Management?
An online MBA in supply chain management prepares an individual to work with vendors to purchase raw materials needed to produce products, maintain inventory and market products to consumers. Some oversee imports and exports and make necessary changes to improve productivity, quality and the efficiency of operations. This specialized online MBA program offers the same quality as on-campus classes but allows students to take classes from anywhere there’s an internet connection. These programs vary depending on the college and university, so it’s important to research and find the program that best suits your career path and situation.
Concentrations Offered for an Online MBA In Supply Chain Management
|CONCENTRATION||DESCRIPTION||POTENTIAL CAREERS FOR THIS CONCENTRATION|
|Transportation Logistics||Covers everything involved with the transport and delivery of goods from a company’s suppliers to the consumer. It also studies the storage, handling, inventory and packing of products.||Global logistics managers, supply chain managers, transportation manager and material planners|
|Logistics Management||A branch of supply chain management that focuses on meeting the demands of the customer. It helps the company reduce their expenses while still providing excellent customer services.||Logistics manager, logistician and transportation manager|
|Global Business||Teaches students how to manage global business structures, including managing money across different countries and staying up-to-date on international trade laws.||Senior management, strategic leaders and business practitioners|
|Quantitative Approaches||Focuses on how to analyze and manage supply chains.||Cost estimator, supply chain manager and operation manager|
Curriculum for an Online MBA In Supply Chain Management
Classes for an online MBA in supply chain management vary from statistics to analytical models. The exact coursework is determined by an individual’s concentration. Jobs in the field require excellent communication skills, knowledge of industry-specific computer software programs and analytical, planning, negotiation and problem-solving skills. Some of the sample classes are as follows:
|Strategic Marketing Management||Covers the core principles of marketing and offers insight on some of the most successful product brands. Students learn how to use gathered data to locate the most likely customers and find ways to meet their needs.|
|Operations Management||Focuses on how businesses operate and the most important factors of operations, including productivity, capacity, quality and supply chain.|
|Financial Management||Teachers potential supply chain managers how to plan and invest money in a business and includes other fiscal management concerns.|
|Global Logistics||Explore various approaches of constructing composite indices and some of the resulting problems.|
|Business Analytics||Examines the process of data-driven decision making within an organization.|
How Long Does It Take to Get an Online MBA In Supply Chain Management?
The time it takes to complete an online MBA in supply chain management depends on several factors. Universities and colleges that offer cohort classes create a group of students who then complete the coursework together and graduate at the same time. Classes may be offered once every year or every two years, which can slow down the degree program. Self-paced classes allow students to take as many or as few classes at a time, which may speed up progress. The MBA in supply chain management consists of around 45 credit hours, which typically takes students two years to complete when taking classes full-time. Taking classes part-time can take as many as five years to complete the degree. A fast-track is usually completed in 18 months or less.
Certifications and Licenses an Online MBA In Supply Chain Management Prepares For
|Certified Professional in Supply Management||The CPSM is offered by the Institute for Supply Management and defines an individual as a globally recognized supply chain professional.|
|Certified Supply Chain Professional||More than 25,000 professionals hold the CSCP certification, which is ideal for those who have mastered the technology, concepts and strategies for supply chain management.|
|Certified Professional in Supplier Diversity||Individuals who hold the CPSD certification prove they have the knowledge to teach companies how supplier diversity can improve profits and accelerate innovation due to efficiency and an increased customer base.|
|Certified in Production and Inventory Management||Those with the CPIM certification show mastery of essential knowledge and concepts that are needed to streamline supply chain operations.|
Accreditation for Online MBA In Supply Chain Management
Accreditation is important when seeking an online MBA in supply chain management. This helps determine whether the courses meet or exceed the industry standards for quality. It can also determine whether you receive federal financial aid and determine which credits transfer if you decide to obtain a doctorate or if you decide to change schools. The Accreditation to Advance Collegiate Schools of Business (AACSB) is one organization that examines a college or university’s programs.
Employment Outlook for MBA In Supply Chain Management Graduates
Job Placement: Master’s v. Bachelor’s
According to the Bureau of Labor Statistics, more MBAs were award in 2013 than any other type of degree. An online MBA in supply chain management can open doors in higher-level management occupations and make it possible to branch out into other areas of the industry.
Among master’s degrees, business, financial and sales occupations reported some of the highest wage premiums than any other industry. When comparing those with a master’s in business and those with a bachelor’s, MBA graduates earned approximately $12,000 more per year.
Careers in supply chain management vary depending on the industry and the concentration. Having a relevant education is essential for anyone interested in logistics and purchasing, especially those looking for upper-level management positions. Skills required for most positions include the ability to organize, plan and coordinate projects, which can be obtained with an online master’s in supply chain management.
|JOB TITLE||JOB DESCRIPTION||MEDIAN SALARY||PROJECTED GROWTH RATE|
|Cost Estimator||Cost estimators use collected data to determine how much time, labor, money and materials it will take to make products or for building.||$63,110 per year||11%|
|Logistician||A logistician manages a company’s supply chain throughout the entire cycle of a product.||$74,590 per year||7%|
|Purchasing Manager||Purchase managers oversee the purchasing of products and services for an organization. They may also look for reliable vendors who provide quality goods at reasonable prices.||$66,610 per year||-3%|
|Operations Research Analyst||An operations research analyst uses computer software and programming languages to examine and analyze data to help companies operate more efficiently.||$81,390 per year||27%|
Connecting with others in the industry provides valuable networking opportunities. It may also help broaden your knowledge through seminars, publications and annual conferences. Most organizations offer valuable job leads and give you the chance to develop your skills as a leader through personal growth.
American Production and Inventory Control Society: The APICS is an organization with over 45,000 members around the world. Membership provides access to the APICS certification, online access to the SCM Magazine, a job board and the online mentor center.
Association of MBAs: The Association of MBAs was established in 1967 to help raise the standards of MBAs around the world. The organization offers networking opportunities by connecting recent graduates to MBA employers all over the world. The group also holds events throughout the year and training opportunities.
Council of Supply Chain Management Professionals: The CSCMP works to connect and educate supply chain management professionals all over the world. The group offers SCPRO certification, corporate memberships, training and education opportunities.
Chartered Institute of Procurement and Supply: CIPS is a nonprofit organization dedicated to global procurement and supply management. The group offers online training and holds events throughout the year. It has over 200,000 members in over 150 countries.
Warehouse, Education and Research Council: WERC helps businesses thrive in the warehousing and logistics industry. The group holds webinars and an annual conference and provides research on industry standards.
Financing Your Online MBA In Supply Chain Management
In spite of the affordability of an online MBA in supply chain management, most students still require financial assistance when paying for their degree. The Free Application for Federal Student Aid (FAFSA) is available to all students seeking assistance, which helps you learn more about the available grants, scholarships, loans and additional financing options available through the federal government. There are also private and public scholarships and grants for additional assistance.
|Financial Aid for Graduate Students|
|Knowing Your Options|
|Financial Aid for MBAs|
|AfterCollege Business Student Scholarship||Award: $500
Deadline: March 31
Eligibility: Open to current students working toward a degree in a field of business. Students have a GPA of at least 3.0.
|Elliott C. Roberts Scholarship||Award: $1,000
Deadline: January 11
Eligibility: Students must be pursuing a degree in health care administration or a related field, including MBAs. They must also demonstrate a financial and a commitment to community service.