Do you intend to work in Indian supply chain management? The supply chain business has expanded quickly along with e-commerce and logistics, becoming an essential part of the Indian economy. As companies work to enhance their supply chain operations, there is an increasing demand for trained individuals to supervise the movement of goods from production to delivery.
But what kind of pay should you anticipate in this industry? This blog will closely examine supply chain management salary in India in 2023, giving useful information to aid your career selections.
Importance of Supply Chain Management in the Indian Market
In today's dynamic and competitive business climate, supply chain management (SCM) is essential in the Indian industry. Efficient and effective supply chain management is more crucial than ever, thanks to the growth of e-commerce, internationalization, and changing customer expectations. There are various SCM jobs in India for individuals with relevant skills and qualifications.
Businesses may gain a sizable competitive edge in the Indian market via efficient supply chain management. Businesses may stand out from rivals and achieve a competitive edge through increased productivity, cutting expenses, and enhancing customer service.
Supply chain management is crucial for companies doing business in India. SCM may assist firms in gaining a competitive edge and achieving long-term success in today's dynamic and competitive business climate by enhancing efficiency, cutting costs, and increasing customer service.
Supply chain manager job roles:
- Arranging orders and sourcing raw supplies and services from several global locations
- Overseeing delivery and logistical activities
- Streamlining the shipping and packing process.
- Lowering costs in the supply chain of an organization
- Establishing appropriate schedules and activities, analyzing performance records, and increasing productivity and efficiency
- Taking care of orders, refunds, and inventory optimization
What is the salary range for supply chain management jobs in India?
Salary comparison for supply chain management roles in India:
According to Indeed, a supply chain manager makes a yearly salary of 3,85,588 rupees in India. This is based on 158 salaries reported by supply chain managers across India. However, this figure depends on your location, experience, education, skills, and company.
According to AmbitionBox, the average yearly income for supply chain management in India is 13.2 Lakhs, with salaries ranging from 4.5 Lakhs to 25.2 Lakhs.
According to Glassdoor, the average yearly income for a supply chain manager in India is ₹12,25,112 per year as of May 2023. This is based on 608 salaries submitted anonymously by supply chain managers on Glassdoor. However, depending on various factors, this figure can range from ₹4L to ₹28L.
What factors influence Supply Chain Management Salary in India in 2023?
As you can see, there is no definitive answer to how much a supply chain manager will earn in India in 2023. India's highest-paying supply chain management job is 28.0 lakhs (2.3 lakhs monthly). Supply Chain Analyst salary in India ranges between ₹ 2.4 Lakhs to ₹ 12.4 Lakhs with an average annual salary of ₹ 5.2 Lakhs.
Your salary will depend on several factors, such as:
- Location: Your pay may be significantly impacted by the city or state where you work. Salary ranges are often greater in metro centers like Mumbai, Delhi, Bangalore, and Hyderabad than in smaller cities or rural areas due to the higher cost of living and greater demand for qualified professionals in certain locations.
- Experience: You may take on additional duties and manage more difficult projects as you earn more knowledge, competence, and professional experience.
- Education: Your wage may also be impacted by your amount of education. Generally speaking, having a degree in supply chain management or a similar profession, whether a bachelor's or a master's, can offer you an advantage over other applicants and aid in your quest for higher-paying employment. You may also enroll in certification programs or courses to advance your knowledge and abilities and strengthen your resume.
How to Increase Your Supply Chain Management Salary in India in 2023
If you want to increase your supply chain management salary in India in 2023, here are some tips that can help you:
Obtain Knowledge and Expand Your Network
Gaining experience and expanding your network of contacts in the business world are two of the finest strategies to raise your supply chain management compensation. This may be done by accepting new duties, volunteering for unique initiatives, and attending industry conferences.
Pursue certifications and higher education.
Your supply chain management compensation may also grow due to obtaining other degrees and certifications. In addition to earning certifications like the Certified Supply Chain Professional (CSCP) or the Certified in Production and Inventory Management (CPIM), consider pursuing an MBA or other graduate degree in supply chain management or a similar subject.
Develop specialized knowledge and skills.
Your supply chain management compensation can also be increased by gaining specific knowledge and abilities. Consider learning more about cutting-edge technologies utilized in supply chain management, such as blockchain, artificial intelligence, and machine learning, concentrating on honing your abilities in highly sought-after fields like procurement, inventory management, or logistics.
The future appears promising for those working in supply chain management in India. In 2023 and beyond, there will be many possibilities to enhance your career and raise your supply chain management compensation due to the industry's significant expansion and rising need for qualified individuals.
The Advanced Certification Program in Digital Supply Chain Management, provided by Imarticus Learning in partnership with E&ICT, IIT Guwahati, equips students with the management abilities to operate procedures, boost sales, and enhance the customer experience. The industry-relevant curriculum also equips students with the skills to develop and use digital supply chain management strategies.