Operation Management MBA is the backbone of every organization. It includes a number of key aspects like manufacturing of the goods, services, quality control, supply chain management, product formulation and design, ordering of goods, warehousing of goods, contacting vendors etc. This management function is responsible for the smooth running of any business operations
Organisations are adopting exponential technologies and moving away from traditional operations and supply chain models towards scalable, customisable, and nimble strategies. IIM Lucknow's Executive Programme in Strategic Operations Management & Supply Chain Analytics will help you adapt, evolve, and transform your business operations through next-generation strategies and an analytical approach that disrupts processes, cuts costs, and increases efficiencies.
One of the most common specialization among the majority of business schools is an MBA in operations management. Pursuing an MBA in operations management offers a global perspective on industry trends to meet client demand. Also, with a boom in technology, agile innovation has led to solving the age-old problem of integrating operations and innovation. For instance, Amazon mastering the rapid delivery of the products at a standard time that all companies need to meet.
Some of the best business schools understand this change and offer specialization in operations or any other related field such as logistics. A Master of Business Administration in operations management is generally for 2-year. The primary function of operations is to deliver reliable, predictable services and products. This means you are trying to minimize the variations in what you are producing so that the customers know they can rely on the consistency of your product. Here is where Lean Six Sigma comes to play.
Profitability Management: When your operations are properly managed, it is easier for your company's executives to rely on the production activity to get a better understanding of your revenue stream. They are then able to rely on that consistent information to find new ways to increase sales or come up with new product ideas.
Better Resource Management: Operations management processes focus on effectively managing all of your resources to ensure that their potential is being maximized. Resources can include physical machines as well as labor resources.
Competitive Advantage: Being able to coordinate the multiple levels and components of your manufacturing organization means that things will run much more smoothly. Your production time will likely decrease, allowing you to deliver goods on time which is a crucial aspect of having great customer relations. This will allow you to promptly deliver great products and keep you ahead of the competition.
MBA Eligibility criteria might vary from college to college, but the overall gist is the same.
An MBA in operations management personnel is responsible for overseeing the company's operations by ensuring they're efficient and effective. They are the backbone of the company's day-to-day operations and help in delivering quality products/services at the right cost and on schedule.
A graduate with an MBA in operations management is primarily concerned with planning, organizing, and supervising in the context of production, manufacturing, or providing services. It is a delivery focussed discipline that requires analytical as well as organizational skills.
In the present scenario, operations excellence is the key to survival. Besides, LinkedIn has nearly 40,000 job listings with the words "operational manager," which indicated the need for them. Companies like Airbnb, Lyft, Amazon, etc. are already operating with well-defined operational excellence to win the market share. Operations management has grown in scope and increased in importance. Besides, efficient organization operations are a vital tool in achieving competitive advantage.
It's a common misconception that MBA in Operations management leads to working in the only manufacturing industry, which is not valid. An MBA in operations is suitable for roles in diverse sectors such as wholesale trade, e-commerce companies, pharmaceuticals, and many more. Common job titles offered to MBA graduates in operations include: