This should provide you with information regarding adoption, implementation, and best practices not only for supply chain management but for other industries as well. The average salary for Business majors is $90,364 and the most common occupations are Accountants & auditors, Other managers, and Financial managers. Moreover, some don’t even have a way to track their inventory. However, it is best to note that not all technologies are created equal.

Getting it wrong: Over 1/3 of firms don’t know how their suppliers are performing. With this in mind, it’s important to understand the varying ways that companies modify their supply chain management to adapt to customer demands.

Consequently, the priorities and growth initiatives of companies have also evolved. Top causes of supply chain disruption in the US are unplanned IT outage (68%), adverse weather (62%), loss of talent (51%), cyber-attacks (50%), and fire (44%). 1. (, 50% of respondents say advancements in technologies are exerting a strong impact on their company’s logistics, supply chain and transportation operations. Through this, professionals can keep track of their resources and ensure they are fully stocked to run their operations. At least 30% of all products that were ordered online are returned while there are only 8.89% in brick-and-mortar stores. Deep Learning AI, Operations & Supply Chain Almost 60% of online consumers between the ages 18 and 34 expect or assume same-day delivery, while 61% of all consumers are actually willing to pay extra for such service. 17% of the small business market has tried to create their own online ecommerce store (Source), 32. According to a recent Logistics Management annual survey of logistics and supply chain salaries based on 687 respondents, the average supply chain manager salary dropped from $129,000 to $117,000. The earners in the bottom 10% make an average of $32.04 an hour or $66,630 a year. document.getElementById("comment").setAttribute( "id", "a73a46e4ac64b6b102b81aadad843901" );document.getElementById("g870abf955").setAttribute( "id", "comment" ); FinancesOnline is available for free for all business professionals interested in an efficient way to find top-notch SaaS solutions. (, 81% of supply chain professionals say analytics will be important in reducing landed costs.

Earning an advanced degree in supply chain management or logistics prepares you to enter into a highly-developed industry, projected by the United States Bureau of Labor Statistics (BLS) to grow 22% between 2012 and 2022. Moreover, with the advent of automation, AI, and data analytics, supply chain processes are now more streamlined than ever. Solutions, Reverse Toggle between "value" and "RCA" to see the absolute rating of that skill (value) and the revealed comparative advantage (RCA), or how much greater or lesser that skill's rating is than the average. For instance, it can help you maximize your storage space and make way for new products. (Source), 22. The role involves finding suppliers of raw goods and services, contract negotiations, and managing the suppliers once they are in place. Be nice. (Source), 21. In the year 2015, the return delivery costs reached $246 billion in North America alone, and globally reached over $600 billion. 62% of shoppers are more likely to shop online if they can return an item in-store. The average inventory accuracy threshold for retail operations is just 63%. Since joining G2 in October 2018, Mike has grounded his work in the industrial and architectural design space by gaining market knowledge in building information modeling, computer-aided engineering and manufacturing, and product and machine design. Just 13% of businesses across all sectors have an established SRM function, adding to continued volatile client-supplier relationships. As companies become more aware of the impact supply chain management can have on all aspects of their business, it’s possible for the top supply chain managers to earn a place at the C-level alongside the CEO, COO, and CFO of a corporation. (, Recently there has been a 15% growth in TMS usage within the small to mid-sized businesses market, with some vendors reporting more than 20% growth for that market. This process generally involves a secondary business that must act as the sales channel between supplier and customer. The highest paying industries of Business majors, by average wage, are Oil & gas extraction, Computer & peripheral equipment manufacturing, and Securities, commodities, funds, trusts & other financial investments. Tel: +44 (0) 191 228 6596, Head office:

In this position, you will focus on sales and account management. As a result, a lot of supply chain professionals are unable to accurately monitor their operations. Tyne & Wear, NE37 2SH United Kingdom, About us This only illustrates that modern supply chain management efforts require initiatives that promote transparency and agility in your operations. Businesses that make improvements to their inventory management, transportation and shipping reap the benefits of a competitive advantage by having a more efficient and streamlined supply chain. (, 21% of supply chain professionals say that visibility is their biggest organizational challenge. In this article, we have compiled various data ranging from changes in supply chain visibility management to emerging technologies in the industry. Passion and creativity are at the core of our being. University of the Potomac-Washington DC Campus, Battery Park City, Greenwich Village & Soho PUMA, NY, Walnut Creek (West), Lafayette, Orinda Cities & Moraga Town PUMA, CA, San Clemente, Laguna Niguel & San Juan Capistrano Cities PUMA, CA, Cardiovascular technologists and technicians, Accounting, tax preparation, bookkeeping & payroll services, Computer & peripheral equipment manufacturing, Securities, commodities, funds, trusts & other financial investments, West Hollywood & Beverly Hills Cities PUMA, CA. (, The number of operating warehouses has increased 10.4% from 2013 to 2017. The locations with a relatively high number of Logistics, Materials, & Supply Chain Management degree recipients are Elim, PA, Wright-Patterson AFB, OH, and Melbourne, FL. 30% of supply chain professionals say that a quick response to customer mandates is a top business priority. Amazon’s approach to ecommerce shippingand logistics has changed the game so drastically that supply chain managers are labeling their impact as the “Amazon effect.” The Amazon effect is essentially the assumption that all e-commerce sites must provide customers what they want, when they want it and at a lower price. Keep it clean. (Source), 33. The statistic shows the size of the supply chain management (SCM) software market worldwide, from 2018 to 2023. Around 49% of retailers now offer free return shipping. Moreover, some believe it to be one of the top drivers of customer service improvement in the modern business landscape. To stay competitive in the shipping world, businesses must utilize shipping software which can help streamline outgoing shipments to customers. Supplier Relations Management (SRM) is still in its early days. ten more shocking supply chain statistics, Leading Business Support Services Provider Celebrates 25 years in Business with New Brand Launch, Interim Project Managers: How Jigsaw Business Group Can Help, Over 1/3 of firms don’t know how their suppliers are performing. (, From 2016 to 2017, 25% more retailers and manufacturers were investing in better warehouse management. The market share of transportation management systems worldwide is predicted to hit $4.8 billion before the end of 2025. Experts predict that 50% of manufacturing supply chains will be able to make direct-to-consumption shipments and home delivery by 2020.

The average expenditure of top organizations on AI for their SCM operations is $17 million. Logistics, Materials, & Supply Chain Management. 40.7% of modern companies believe that data analytics will be one of the key technologies for supply chain management in the next two years. The use cases for artificial intelligence are boundless. Compared to other majors, there are an unusually high number of Business majors working as Accountants & auditors, Financial examiners, and Financial analysts. There are still companies that don’t utilize SCM tech despite the plethora of options on the market. (, By 2024, over 60% of G2000 manufacturing organizations will rely on artificial intelligence platforms to drive digital transformation across the supply chain, leading to productivity gains of over 20%. time through innovative, data This map shows the counties in the United States colored by the highest number of degrees awarded in Logistics, Materials, & Supply Chain Management by year.

Across industries, 1/3 of all supply chains fail to manage risk on a formal basis. In fact, a growing number of companies are using artificial intelligence and machine learning to power their processes.

The number of warehouses in the US has increased 6.8% over the past five years. 75% of large manufacturers are looking to update supply chain operations using IoT and analytics-based situational awareness before the end of 2019. AI, Fully Managed So much so, that many companies say it is what enables them to grow their business. This is in addition to being constrained due to cost increases and the increasingly competitive business landscape. The most common sector, by number of degrees awarded in Logistics, Materials, & Supply Chain Management, is Public, 4-year or above (5,143 completions). 22% of returns are due to a product appearing differently in-person than it does in the photos.

(Source), 18. American Public University System has the most Logistics, Materials, & Supply Chain Management degree recipients, with 432 degrees awarded in 2017. These include road full truckload and air freight. Read the 15 top supply chain statistics and the key trends that are most important for supply chain and operations executives to understand in 2018. (Source), 13. 92% of consumers have said that they are willing to buy something again if returns are easy, 79% of consumers want free return shipping. By the year 2021, 20% of the top manufacturers will depend on a secure backbone of embedded intelligence using IoT, blockchain, and cognitive systems to automate large-scale processes with execution accelerated up to 25%.

(, Businesses with optimal supply chains have 15% lower supply chain costs, less than 50% of the inventory holdings, and cash-to-cash cycles at least three times faster than those not focused on supply chain optimization. (, Amazon reported that shipping costs increased to $21.7 billion in 2017, an increase from just $11.5 billion in 2015. Food waste is a long-term problem, and COVID-19 has only worsened and complicated it. A total of 2,696 supply chain alerts were issued in 2018. Of course, salaries will vary based on demographic differences – mainly the location and the size of the company. Supply chain consultants work to manage the companies you work with to provide tips and strategies to coordinate various logistics processes across multiple foreign distribution centers. Out of all institutions that offer Logistics, Materials, & Supply Chain Management programs and have at least 5 graduates in those programs, Florida Polytechnic University and Commonwealth Technical Institute have the highest percentage of degrees awarded in Logistics, Materials, & Supply Chain Management, with 15.4% and 13.6%, respectively. (Source), 2. Project managers are generally responsible for overseeing analysts and work with consultants to ensure projects are completed on time and within the set budget. If you would like to learn more about technology implementation, we highly recommend taking a look at our compilation of technology statistics. This is especially because a huge chunk of businesses are still falling behind when it comes to AI adoption. 71% of consumers who have had a good social media experience with a specific brand are likely to recommend that brand to others.

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