Global trade has now become easily accessible to businesses worldwide, thanks to the invention of the internet & evolved global connectivity infrastructure. Every business today aims to cross borders and increase its customer base. However, to do so, they need a sound supply chain management mechanism in place. Due to this mammoth importance, the supply chain management industry is expected to grow with a CAGR of 11.7% to reach a valuation of 63.77 billion dollars by 2032.
As the technology, infrastructure and business demand keeps on increasing, the supply chain management industry is expected to grow manifolds in terms of jobs. As aspiring professionals, wondering about supply chain management salary trends is natural.
In this blog post on supply chain manager salary trends, we will cover what you can expect in the industry based on factors like experience, location, and job title.
Table of Contents:
Logistics And Supply Chain Management Salary
What is Logistics And Supply Chain Management?
Logistics and Supply chain management are the key business processes. The process of moving the deliverable goods from the manufacturing hub to every last-mile customer is termed logistics.
On the other hand, supply chain management has a wider scope, including analyzing market trends, onboarding suppliers, defining development mechanisms, setting up inventory, getting products ready for delivery and lastly, planning for return logistics. SCM is complex business process that makes sure the flow of materials, information and goods remains seamless.
Every business aims to achieve supply chain optimization, to cut costs and bring more profit into the picture.
Average Logistics And Supply Chain Management Salary
The average logistics and supply chain manager salary in India lies around 16.8 Lakh per year. In case of Canada, which is also considered as global supply chain hub, the average annual salary is observed around CA$ 84,566.
Supply Chain Management Salary: Location Wise
Supply Chain Management Salary in India
A Supply Chain Manager is responsible for overseeing the entire procurement and supply chain management process. They are responsible for managing a team of employees, developing and implementing supply chain strategies, and ensuring the supply chain runs smoothly.
Compared to those working in other sectors supply chain professionals often make more money working in the Healthcare, and Technology sectors.
The average Salary of a Supply Chain Manager in India is around ₹16.8 Lakh per annum and this salary can range from ₹3.1 Lakh Per Annum to ₹30 Lakh Per Anum.
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Supply Chain Manager Salary in India: CityWise
Do you know, that India’s supply chain management landscape is evolving rapidly and is expected to expand at a Compound Annual Growth Rate (CAGR) of 11.1% reaching a value of USD 6,433.24 million by 2030? This means the supply chain management field is going to produce a lot of job opportunities.
The graph above depicts the projection of supply chain management average salaries in the major Indian cities such as: Pune, Gurgaon, New Delhi, Bangalore, & Mumbai.
Supply Chain Management Salary in Canada
The Supply Chain Management career in Canada can be financially rewarding and offers ample opportunities for career advancement and earning a whooping salary. The average salary for a Supply Chain Manager in Canada is CA$ 82,600 per year, with the range typically between CA$ 62,520 and CA$ 136,250 per year.
This salary structure may vary depending on the sectors like E-commerce, Agriculture, Technology, etc.
Supply Chain Management Salary: Experience Wise
Salaries are generally influenced by many factors. Experience is one of the mammoth factors that define the compensation levels for the masses. Let’s start by looking into the supply chain management salary for freshers.
Supply Chain Management Fresher Salary
According to the advice of specialists or professionals, as a fresher, you shouldn’t focus on the salary you will earn. Because your earning potential only grows with the evolution of your skill set. Initially, as a beginner, your focus should be on learning the nuances of the supply chain management process and various SCM Optimization techniques.
For freshers, the compensation bandwidth is highlighted in the table below:
Job Stage | Annual Salary Range in India | Annual Salary Range in Canada |
Entry Level (0-1 year) | ₹3,10,000 – ₹8,00,000 | CA$ 48,000 to CA$ 84,000 |
Supply Chain Management Salary for Experienced Professionals
The table below gives a holistic overview of compensation bandwidth for logistics and supply chain management professionals based on various experience levels.
Job Stage | Average Annual Salary in India | Average Annual Salary in Canada |
Early Career Years (1 – 3 years) | ₹8.7 Lakh | CA$ 73,000 |
Mid Career (3 – 4 years) | ₹10.1 Lakh | CA$ 74,000 |
Mid-Senior (5 – 8) | ₹11.1 Lakh | CA$ 81,000 |
Late Career (9+) | ₹14.8 Lakh | CA$ 91,000 |
Supply Chain Management Salary: Job-Role Wise
The domain of Supply Chain Management offers a wide range of job roles, each having its responsibilities. There is always a need for expertise to handle the operations because the Supply Chain Management process starts with sourcing, production, logistics management, and delivery of goods to the customers.
Here we will discuss some of the common job titles in Supply Chain Management and their salary structure. These salaries can vary depending on the industry, location, and years of experience. However, you can get a broad idea of the earning potential and the job roles that fit your interest.
Supply Chain Analyst
A Supply Chain Analyst is responsible for analyzing data and making recommendations to improve the efficiency and effectiveness of the supply chain. The average annual salary for a Supply Chain Analyst in India is around ₹7.4 Lakh. Whereas in Canada, it lies around CA$ 97,700 per year.
Logistics Coordinator
A Logistics Coordinator is responsible for coordinating the transportation of goods and ensuring that they are delivered on time and within budget. The average annual salary for a Logistics Coordinator in India is around ₹3.7 Lakh. Whereas in Canada, it lies around CA$ 73,300 per year.
Purchasing Manager
A Purchasing Manager is responsible for managing the purchasing of goods and services for a company. They are responsible for negotiating with suppliers, ensuring that goods are delivered on time, and managing inventory levels. The average annual salary for a Purchasing Manager in India is around ₹10 Lakh. Whereas in Canada, it lies around CA$ 114,000 per year.
Operations Manager
An Operations Manager is responsible for overseeing the day-to-day operations of a company. This includes managing staff, ensuring that products are produced efficiently, and managing inventory levels. The average annual salary for an Operations Manager in India is around ₹11.2 Lakh. Whereas in Canada, it lies around CA$ 117,000 per year.
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Director of the Supply Chain
A Director of the Supply Chain is responsible for overseeing the entire supply chain process for a company. They are responsible for developing and implementing supply chain strategies, managing a team of employees, and ensuring that the supply chain runs smoothly. The average annual salary for a Director of Supply Chain in India is around ₹20.9 Lakh. Whereas in Canada, it lies around CA$ 237,000 per year.
Job Role | Average Annual Salary in India | Average Annual Salary in Canada |
Supply Chain Analyst | ₹7.4 Lakh | CA$ 97,700 |
Logistics Co-Ordinator | ₹3.7 Lakh | CA$ 73,300 |
Purchasing Manager | ₹10 Lakh | CA$ 114,000 |
Operations Manager Salary | ₹11.2 Lakh | CA$ 117,000 |
Transportation Manager | ₹7.6 Lakh | CA$ 131,000 |
Director of Supply Chain | ₹20.9 Lakh | CA$ 237,000 |
Skills Required for a Career in Supply Chain Management
To establish a successful career in Supply Chain Management, you need to have a combination of technical and soft skills. Below we will identify some of the key skills that are essential for success in this field.
Technical Skills
Expertise in software tools such as Enterprise Resource Planning, Warehouse Management Systems, and Transportation Management Systems is crucial for managing the supply chain effectively. Alongside that, if you’re working on supply chain optimization, strong technical know-how of machine learning may be required.
Data Analysis Skills
Supply Chain Management professionals need to analyze complex data sets, identify demand in the market, and forecast future possibilities with predictive analytics to optimize supply chain operations.
Communication Skills
Effective communication is essential for coordinating with suppliers, logistics providers, and internal stakeholders to ensure the timely delivery of products.
Problem-Solving Skills
Supply Chain Management professionals must be able to identify and resolve issues that arise in the supply chain, such as delays in delivery or inventory shortages.
Project Management Skills
For having a successful career, this field involves managing multiple projects simultaneously, so professionals in this field must be able to prioritize tasks, manage timelines, and allocate resources effectively.
Collaboration and Relationship Building
Building and maintaining relationships with suppliers and customers is a key part of Supply Chain Management, so professionals in this field must be skilled at collaborating with others and building strong partnerships.
Conclusion
So mate! How do you feel? Aren’t Supply Chain Management experts rich enough?
Supply Chain Management is a crucial aspect of any business, and it requires skilled professionals who get well compensated for their expertise. It’s not among the most challenging jobs around the sectors, but with the proper training, education, and experience, you can successfully achieve a great career in Supply Chain Management.
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