The field of supply chain analytics is relatively new, but it is growing quickly as businesses increasingly rely on data to drive decision-making. As a result, there is a growing demand for highly skilled professionals in supply chain data analytics.
Considering a career in the field of supply chain analytics? This guide will give you an overview of the role of analytics in supply chain management, where you can study, and what you can expect from various supply chain analytics programs. You can also browse supply chain analytics degrees from our directory at the bottom of the guide.
What is the Role of Analytics in Supply Chain Management?
Supply chain analytics is a form of data analysis that helps organizations improve their supply chains. It uses analytical methodologies and techniques to help businesses identify inefficiencies, optimize operations, reduce costs and risks, forecast demand, and make better decisions.
Data analysis in supply chain management improves the flow of materials and information throughout the supply chain. Supply chain analytics aims to optimize the entire process by using data-driven insights. Businesses can improve their customer service, increase profits, and reduce waste by doing so.
Supply chain analysts play an important role in supply chain management by taking data and turning it into actionable insights. They work with data from various sources, including suppliers, customers, distributors, retailers, and logistics providers. They use this data to identify trends and patterns that can help them optimize the supply chain.
Software plays an important role in supply chain analytics by providing the tools necessary to do the job. Organizations that rely on supply chain analytics can make better decisions, improve operations, and reduce costs. This contributes to an organization’s bottom line, allowing them to be more profitable and efficient.
Where Can You Study Supply Chain Analytics?
A growing number of universities offer programs in supply chain analytics at both the bachelor’s and master’s levels. You’ll find that schools offer part-time, full-time, online, hybrid, and on-campus options for these programs.
As far as undergraduate supply chain analytics programs go, there are options from some of the most prestigious supply chain universities. Bradley University offers a Bachelor’s in Industrial Engineering in Supply Chain Analytics, while Purdue University has a B.S. in Supply Chain, Information, and Analytics.
Arizona State University(ASU) offers a Master of Science in Business Analytics. This program can be completed in as little as nine months for full-time students and as little as 16 months for part-time students. The full-time program is considered a Science, Technology, Engineering, and Math (STEM) designated program, meaning the government recognizes the program for its focus in these areas. The average STEM salary jobs are nearly double that of non-STEM salary jobs.
Supply Chain Analytics Curriculum
The curriculum for these programs typically includes coursework in statistics, mathematics, operations research, computer science, and engineering. Students learn how to use analytical methods to solve problems in the supply chain. They also learn to use software to model and simulate supply chain systems.
Students enrolled in a bachelor’s program in supply chain analytics can expect coursework in business statistics, data management, and systems analysis. They will also learn how to use analytics to optimize business performance. Many schools offer degree programs in supply chain analytics online and on campus. Bachelor programs are typically a minimum of 120 credit hours and consist of general education courses, major courses, and electives.
A Master of Science in Business Analytics (MSBA) program typically consists of 30 credit hours. The curriculum for an MSBA program usually includes coursework in data mining, business intelligence, decision analysis, and predictive modeling. Master’s program coursework usually includes more in-depth coverage of supply chain analytics. In addition, students are often required to complete a capstone project where they apply skills they learned in the program to a real-world problem.
The skills students develop in these programs are in high demand in the business world. Graduates of these programs are well-prepared for jobs as data analysts, supply chain managers, and operations researchers.
Online Supply Chain Analytics Programs
Online programs in supply chain analytics offer students flexibility in their education. Students can complete their degrees while still working full time. They can also learn from some of the best professors in the field, as online programs are typically the same as on-campus versions.
Students interested in pursuing a 100% online Bachelor’s in Supply Chain Analytics degree can expect their schedule to be primarily asynchronous, with some scheduled live sessions. Graduates will learn to lead with a data-driven approach to optimize supply chains and overall business performance. Virginia Commonwealth University (VCU) offers an online version of their B.S. Supply Chain Management and Analytics program.
Students pursuing a graduate degree in supply chain analytics in an online format have more options than students pursuing an online bachelor’s degree. Boston University offers a fully online Master of Science in Supply Chain Management and Analytics. The program is designed for working professionals and can be completed entirely online. The University of North Texas also offers a Master Supply Chain Analytics that can be completed 100% online.
Supply Chain Analytics Career Outlook
Supply chain analytics degree programs prepare students for careers in this rapidly expanding field. Jobs are expected to grow 30% from 2020 to 2030, much faster than most fields. According to the US Bureau of Labor Statistics, the median annual salary for a supply chain analyst is $76,270.
Graduates take on roles including operations research analyst. Operations research analysts spend most of their time in offices or in front of computers analyzing data and using it to solve complex problems. The job growth for this job is 25% (faster than average) and has a median salary of $86,200 per year.
Completing a graduate degree in supply chain analytics can prepare students for roles like director of supply chain. The salary range for this role depends on several factors, including location, experience, and education. The average salary is in the range of $152,801 – $196,101.
Overall, the career outlook for supply chain analytics graduates is very positive. If you are interested in pursuing a degree in this field, it’s good to know that the job market is expected to grow faster than most.
All Supply Chain Analytics Programs
Appalachian State University | Boone, NC
Boston University | Boston, MA
Bradley University | Peoria, IL
Bachelor's in Industrial Engineering - Supply Chain Analytics Concentration