Featured Schools
Logistics and Supply Chain Management
Let's say you work for a restaurant. Your restaurant serves, among other things, fish. So how much fish do you order?
If you order too much, the fish goes bad, and all that money you spent just gets thrown out. If you don't get enough, your customers will be upset that their favorite dish isn't on the menu. What happens if the fish is so good that you restaurant gets a huge influx of customers who all want fish. Do you factor that in beforehand at the risk of overbuying, or wait for it to happen and risk not having enough? And what happens if the FDA suddenly says that some fish are contaminated; what is the probability of bad fish circulating throughout the market? So now, tell me, how much fish should you order?
Of course this is a simplistic example, but that's basically the essence of Logistics; estimating the need and the ability to utilize resources. It's up to Logistical personnel to figure out how to keep the company stocked with supplies at the lowest price possible and to ship out product at the highest price possible. They are responsible for a tremendous amount of revenue and have a tremendous amount of responsibility. One slip up can bring a company crashing down.
And because Logistics personnel are so familiar with the companie's supply chain, it is not uncommon for them to find themselves in on planning and development on a much higher level.
A Logistics majors will study economics, general business principles, business law, negotiating, transportation, e-commerce, and dozens of other subjects to ensure that they enter the field with the ability to make the right decision with an entire company's future on the line.
Because there is so many responsibilities for a supply chain manager, the salary is very respectable; a mean annual salary of $82,000.
It's a difficult, tedious, and high-risk job, so comanies will look for the best educated candidate. Strongly consider an MBA.