What is MBA in Operations Management?
MBA in Operations Management is a 2-year postgraduate course catered by several Indian universities to candidates interested in delving into the designing and controlling the production process of an organisation. Redesigning business operations related to the production of goods and services by an organisation is also a part of the job for the operations management department. Candidates successfully completing MBA in Operations Management are apt to work as an executive responsible for overseeing company operations and working towards improving the same. During the entire 2-year course, aspirants are educated in quality, supply chain, operations planning, and global operations and project management.
The main stress in Master of Business Administration in Operations Management is to acquire the essential skills required to assess, design, manage and improve processing systems involved in the production of the services and goods offered by the organisation.
MBA in Operations Management Skill Sets Required
The importance of Master’s degree in operations management in the modern business scenario has hiked the weight of MBA in Operations Management. This, in turn, has led students to opt for the promising postgraduate course. Candidates interested in operations management are required to know how to make optimum use of available resources in addition to flaunting good leadership and team management skills. Having great communication skills is necessary for pursuing the remunerative postgraduate course.
All essential skills required for pursuing a successful MBA in Operations Management are summed up as follows:
Problem Decomposing and Solving
Resource Optimization & Management
Strong Inference Ability
MBA in Operations Management: Roles and Responsibilities
The specific role of operations manager differs from organisation to organisation. Generally, an operations manager is responsible for improving the present production system of the employer. Operations managers are adept at analysing and monitoring organization's production system and develop effective strategies to improve the same. Examine production statistics and writing reports are some of the day-to-day work of operation managers. Training and supervising new recruiters by the organisation is also part of the job for operations managers. They have the important responsibility to work in line with managers of different organisational departments to come up with effective strategies that can improve the company’s production as well as overall growth. The remuneration paid to an operation manager depends on the organisation stature and can easily reach five figures and in some cases, even hit six figures.
MBA in Operations Management: Job Prospects
Postgraduates with an MBA in Operations Management can explore several career avenues. The scope of operations management is not only limited to IT, ITES, manufacturing and retail industries but also expanding to other industries. Modern businesses realise that an operations management department is an essential role-player in the organisational growth. Hence, integrating it is very important. Some of the top professions that MBA in Operations Management postgraduates might like to assume are briefed up as follows:
Another gainful career prospect for MBA in Operations Management postgraduates is to provide services as a consultant. The main role of a consultant is to improve the various facets of different operations associated with the logistics and supply chain management departments of an organisation. Modern consultants make use of information technology and strategic planning as the main tools for proposing vital operational changes. Consultants could also assist organisations with the implementation of a concerned knowledge base. They also help in setting up desirable tools and various logistical processes to augment profitability. Moreover, consultants are also adept at working in direction of global optimisation of a supply chain by picking appropriate strategic sourcing and software.
Inventory Control Manager
Candidates with MBA in Operations Management can mull over working as an Inventory Control Manager. The major concern of Inventory Control Manager is to come up with plans and strategies that help an organisation in cutting down inventory costs albeit maintaining the level of customer service expectations. In addition to administering the physical processes involved in inventory management, inventory managers also have to deal with systems deployed in the same. The flow of inventory through the system and the inventory quality are tied to an inventory control manager.
Logistics Manager is another top job that pays handsomely to postgraduates with MBA in Operations Management. The primary concern of logistics managers is to establish and manage cost-effective supply chains for the organisation. In order to achieve this, logistics managers are required to carry out an extensive research on the potential locations for setting up supply chain by considering vital factors. Logistics managers work in line with manufacturing, marketing and purchasing departments of the organisation to complete the chore. Other than meeting primary concerns, they have to ensure that all goods and services being traded meet all the import and export laws impended by the country. Developing effective strategies for creating and maintaining contracts with logistics intermediaries associated with the organisation is also a part of the job of logistics managers.
A product manager at a technology organisation is analogous to brand manager of an organisation; specialising in consumer packaged goods. Product managers are responsible for feature definition, roadmap and strategy design of an associated product or product line. They are also responsible for P&L (profit and loss), forecasting and marketing responsibilities. The product manager is a rewarding career option for an MBA in Operations Management. Product Managers are important for a business or organisation, as they are responsible for bridging the gap between distinct departments such as support, sales and marketing. They provide answers to three important questions (what, when, and why) related to a product that engineering team of an organisation devises. They are responsible for leading cross-functional teams of the organisation right from the conception of the product until its successful launch.
Supply Chain Manager
Supply chain managers, aka purchasing agents or buyers/purchasing managers, are responsible for finding quality products and services for their organisation at the lowest prices possible. To accomplish this, they need to have a detailed knowledge of concerned suppliers, both domestic and foreign. Moreover, they need to ascertain other important factors affecting the purchase of goods and services. Experienced supply chain managers are typically well aware of a certain type of merchandise or service. They are well acquainted with how to analyse the purchasing preferences of customers.
Operations Management postgraduates can also provide their business skills and services as analysts, account managers, business developers, business writers, IT managers, online media analysts, security officers and service managers.