When someone hears the phrase supply chain, they might automatically think about products in a warehouse. While the products do eventually get stored into a warehouse, supply chain management focuses on every aspect relating to its production. It is also one of the most lucrative career choices available. With so many job opportunities and high salaries all around, you may be tempted to go back to school to obtain your degree. Here is everything you need to better understand this business sector, what universities are best suited for this degree and how you can pay for it.
What is Supply Chain Management?
Supply chain management is when you keep tabs on the production process of a certain product or service. This can be broken down into five very distinct categories; planning, sourcing, manufacturing, delivery and return. With the appropriate measures taken, you can dramatically cut the costs and save a lot of time.
A degree in supply chain management can be utilized in several ways. In addition to overseeing the life cycle of products, there are a variety of other positions you can hold. But prior to that, you need to earn the right type of degree. While some people choose to only earn a bachelor’s degree, others opt to further their education and earn a master’s or even Ph.D. The time you spend earning your degree will depend on the degree itself. The higher your degree level, the better job opportunities you’ll have at your disposal. In fact, here is a small list of the type of jobs you can expect to see when applying:
-Supply Chain Analyst
-Supply Chain Consultant
There are many jobs to choose from with this degree, but these are the ones that people usually apply for. The cost of a bachelor’s in this program depends on how far you’re willing to go. At most, you can pay up to about $65,000 for tuition. The average cost of this degree, however, can range from $34,000 to roughly $40,000.
Top Universities for Supply Chain
You can get a degree in supply chain from any university that offers it. However, there are a select few colleges that are better to get the degree from. Below are four of the most recommended universities to acquire your degree in supply chain management. But before we talk about some of the best schools to earn your degree, we need to discuss finances. If you’re already paying student loans and are concerned about debt, you may want to consider refinancing. When you consolidate your debt, you can focus more on your studies and less on your financial status. You can also use a calculator for repayment options to get a better idea of your monthly payment.
Portland State University
Since supply chain is a fast-growing business, Portland State University can ensure you’ll receive a rich education in a short amount of time. In fact, this college in particular has been certified by the Institute for Supply Management (ISM) themselves. One of the reasons for this official certification is because their program allows their students to experience what’s in store in supply management first hand. Having actual experience gives many applicants a much-needed advantage when applying for a job.
Colorado State University
Colorado State University’s SCM program is incredibly thorough. From learning how to do customer service to known trade compliance works, Colorado State University is one of the better choices if you decide to pursue a master’s degree. Just remember that a master’s costs more per credit than a bachelor’s degree.
Texas A&M International University
Founded in 1876, Texas A&M International University is in the top 100 best universities to attend. The cost of the in-state tuition is about $12,500 while out-of-state tuition is around $39,400. As for the program itself, it will teach you how to effectively coordinate any team efforts. It’s also going to help you develop the necessary leadership, business and technical skills that are required in this line of work.
University of Nebraska Kearney
At this university, you have several options for earning your degree. They offer undergraduate programs, graduate programs and MBA specializations. Depending on your occupational goals, you may even want to consider getting a Ph.D. The overall cost also depends on the course of study. Currently, if you’re attending out-of-state, the cost is around $26,000. In-state tuition typically costs about $18,300. This fall, however, the out-of-state tuition is being altered to the same as if you were attending in-state. If you wait until fall, you’ll be saving almost $8,000. Whether you’re looking to switch careers or be eligible for a promotion, returning to school can make that happen. Use the above as a guide when deciding on a school and whether supply chain management is right for you.