Dive Brief:
- A survey by Logistics Management revealed, based on the answers of 687 qualified respondents — 55 of which were supply chain managers or directors — that median salaries dropped to $117,000 from $129,000 in 2016, Spend Matters reported.
- Average salaries a year ago for respondents between ages 35 and 44 was $99,200, but fell in 2017 to $92,075. The median salary for this group also declined, sinking to $80,000 from $87,800.
- Male respondents out-earned female respondents by $10,000, though this may be due to a prevalence of male-held senior positions. Yet, compared with 2016 numbers, the median salary for men fell by $7,000 while the median salary for women increased by $5,000. This shift could continue to change as more women move into senior roles.
Dive Insight:
Though significant variety exists within the skills respondents feel they need to climb the corporate ladder, every earning level within the supply chain cites the need for some type of management improvement, whether through training, degree or simply improved skills. Companies are tasked with making sure that supply chain managers receive the training they need while pairing those managers' responsibilities with appropriate salary.
The task of management tends to focus on organization. How to accomplish certain vital tasks rather than why they need to be accomplished falls to managerial direction, while the why belongs with leadership. Managers smooth the way for proper functioning of systems and integrate parts, curbing incidents before they become full-blown crises.
Further, management skills tend to break down into five functions: planning, organizing, coordinating, directing, and oversight. In planning, developing methods of meeting assigned objectives come into play. Organizing involves foresight and the design and implementation of supporting structures. Coordination requires the ability to know what's happening when, where and how, and to keep it all moving. Directing means exactly that: assigning tasks and pursuing follow-through. Finally, oversight means keeping it all together and functioning well.
