“Synchronizing the global economy,” is how one company defines supply chain management. "We love logistics" is how UPS currently promotes their company on prime time TV. Wal-Mart, too, has created the world’s largest corporation based on a well managed supply chain and world class logistics management.
Most people think of their favorite mode of transportation--trucks, trains, airplanes or ships--when you ask them to define logistics. That, however, is just one part of logistics. Transportation is a subset, and logistics is a subset of supply chain management . As the United States has transitioned from a manufacturing economy to a service economy, logistics and supply chain management have grown into major career areas for the 21st century global service economy.
Logistics is managing the flow of goods in to and out of a company. Supply chain management is managing the flow of goods, information and money from raw materials to component parts to finished goods to the ultimate consumer. Supply chain management is the ultimate competitive advantage as seen with giants such as Wal-Mart, Amazon and Apple.
Key skills for a logistics and supply chain management major
- Ability to create sound logistics and supply chain planning strategies
- Understand how to deliver the benefits of a company’s core value offerings
- Understand requirements to deliver value through cost leadership and superior service
- Develop and maintain key supplier and customer relationships
- Develop skills to appropriately manage, analyze and apply product information
- Interpret and understand practical applications of metrics for measuring logistics, transportation and supply chain performance