What is Logistics and Supply Chain Management and why does it matter?
A broad definition for Logistics and Supply Chain Management would be “Management of product, finance and information flow between the supply chain network”. The supply chain network comprises of suppliers, manufacturers, distributors, retailers and end-customers, so basically, it’s all about meeting demand with supply.
It matters now more than ever because businesses are going global and face increasing competition, so it has become vital to provide the best service to customers at minimum costs. Logistics and Supply chain is critical to achieving this and therefore to a business’s performance.
How does it affect everyday life?
Every product we use and service we consume is in some way associated with Logistics and Supply Chain Management. It looks at design, production, transport, storage and distribution activities which are all aspects of products and services that we experience on a day to day basis.
What are future trends in Logistics and Supply Chain Management?
Right now the field is being revolutionised by the use of disruptive innovations and brand new technologies such as autonomous vehicles, additive manufacturing, Internet of Things, Industry 4.0, etc. These disruptive innovations are expected to have a significant influence on tomorrow’s businesses and all of our lives.
Finally, why should someone study Logistics and Supply Chain Management and why should they choose Heriot Watt University?
As I’ve said, every product and service depends on Logistics and Supply Chain in some way, and because of a current skills shortage, most of our graduates join tactical and managerial roles in Logistics and Supply chain management within 3 months of completing the MSc programme at Heriot Watt University.
Heriot-Watt has close to 20 years of experience in running our flagship programme in Logistics and Supply Chain management and it’s exclusively run by members of our world-renowned Logistics Research Centre. The studies are research-led but practice-driven and this means our students are ready for the ever-evolving needs of today’s supply chains when they graduate.