What is Operations Management: The Art of Business Efficiency

What is the main purpose of the business? To make money while providing the best services or products to their customers and clients, right? How is it achieved, then? Until the time you gain customers’ loyalty and faith, and pay the value for their money, you will hardly be able to increase the revenue or gain a competitive edge in the marketplace. Operation management here swoops in heroically. 

Operations Management (OM) empowers action by connecting processes and value. Operations managers plan, organise, and oversee manufacturing and production, ensuring their decisions are efficient by using minimal resources to maximise shareholder value and meet customer demands.

With constant evolution in business and so many new start-ups coming into the market, the demand for operation managers is emerging because every other entrepreneurship is looking for the best professionals who can guide them through the ins and outs of the current market. 

The growth is driven by the pursuit of higher productivity and efficiency on the part of businesses as well as increased complications in corporate operations.The Bureau of Labor Statistics forecasts a 6% increase in employment for operations managers from 2020 to 2030, roughly matching the national average for all occupations. 

What is Operations Management?

Operations management involves overseeing daily business activities to ensure efficiency and maximise profitability. This field emphasises developing strategies and implementing actions to enhance production and supply chain performance.

What is the need for Operations Management?

The goal of operations management is to enhance and sustain efficient business processes. This practice centres on managing the staff, processes, and physical resources necessary for a business to function effectively.

Operations management also involves coordinating and overseeing the flow of information among departments, ensuring compliance with business and regulatory requirements, maintaining customer satisfaction, and efficiently managing daily operations beyond just addressing occasional issues.

What are Operations Management Roles?

Operations management encompasses overseeing logistical processes and the entire supply chain, managing production, ensuring quality, fostering vendor relationships, and handling materials ordering, warehousing, and management. Different roles exist within operations management to address these varied responsibilities.

MBA Operations Management:

As said earlier with the growth in the arena of business, manufacturing and production an increasing number of skilled operation managers is required. MBAOperations Management prepares the student for all areas of business that touch on production, manufacturing, service delivery and planning – followed by a high paying job.

Skills Required to Pursue MBA Operations Management

Some essential skills for operations include data processing, conflict management, people management, project management, and more. Additionally, with innovation becoming increasingly important in business, production-oriented operations management skills are highly sought after.

If you plan to pursue a career in operations management, you should be capable of:

• Designing systems
• Implementing them
• Planning and forecasting demand
• Managing the systems

MBA Operations Management Eligibility:

Eligibility criteria for an MBA in Operations Management can vary by institute but generally include the following:

• A bachelor’s degree in any discipline or equivalent qualification from a recognized university
• A minimum of 50% or equivalent CGPA
• Applicants in their final year or awaiting results may be able to apply provisionally

Career Options after MBA in Operations Management

Many people mistakenly believe that an MBA in Operations Management only leads to careers in the manufacturing industry, but this is not true.

An MBA in Operations Management is versatile, preparing graduates for roles in various sectors such as wholesale trade, e-commerce, pharmaceuticals, and more. Common job titles for MBA graduates in operations include:

• Purchasing Manager
• Inventory Coordinator
•  Administrative services manager
• Warehouse Operations Manager
• Logistics/Supply Chain Manager
• Operations Consultant
• Sales or Marketing Operations Manager

And many others.

FAQs

• What is an operations management MBA?

Operations Management is the overall management of the processes used to create goods and or services focused on planning, organising and overseeing the design, development, production, and delivery. It provides concrete tables and temporal solutions to support the core process design and management decision decisions.

• What is the role of the operations management?

Operational management is the administration of business processes and or systems. An operations manager is responsible for features that include supply chain; product design; forecasting and quality control; delivery management.

• What is the MBA in Operation Management Salary?

In India, the salary for MBA graduates in Operations Management varies based on their position level:

• Entry-level: INR 4–10 lakhs per annum (LPA)
• Mid-level: INR 10–20 LPA
• Senior-level: INR 20 LPA and above