Why should you opt for Operation Management MBA course?
What Is Operation Management?
Operation management refers to the administration of business practices to create the highest level of efficiency possible within an organization. It is concerned with converting materials and labor into goods and services as efficiently as possible to maximize the profit of an organization.
An MBA in operation management or a specialization in a related field, such as logistics or supply chain management, should help students to enter the industry by developing the requisite skill-set. Also it helps those already in the industry to widen their knowledge and push themselves into a business leadership role.
Now first of all, Let us take a look at different options available for Operation Management MBA:
Here we discuss various career options available for those with an MBA in Operation Management, while also covering salary details for some of the careers related to the field. As a result, Students can also get an overview of the MBA program and common courses.
Operation management ponders into the planning, organizing, and supervising of various production and manufacturing services of an organization. In addition, the goal is to turn inputs into outputs(profit) in an efficient way. A graduate of an MBA in Operation Management program has many career options available to them. Some of the most common include operations management, supply chain management, logistics planning, inventory control management, and business consultation.
Supply Chain Manager
Individuals working in managing supply chains are called by either purchasing agents, buyers, or purchasing managers. Their job entails buying services and goods for the company or organization that employs them. It is their job to find the best products for the lowest price. They must be knowledgeable about various suppliers, both domestic and foreign, and the factors that may affect supply. They usually are experienced in a particular type of merchandise and know how to analyze the buying preferences of customers.
The Bureau of Labor Statistics (BLS) predicts that purchasing managers will see slow growth of 1% from 2014-2024. While some sectors may see faster growth in jobs related to the field. Purchasing managers made an average yearly wage of $111,590 in 2016.
A logistics manager works with the departments of purchasing, marketing, and manufacturing. Manufacturing helps to implement and manage supply chains, both export and import, that are cost-effective. So,they are responsible for developing strategies for distribution and creating and maintaining contacts with logistics intermediaries. They make sure that goods coming into the country from foreign markets meet international export and import laws. Logistics managers made an average salary of $62,828, based on March 2017 data from PayScale.com.
A consultant may work with a company to improve various aspects of its operations associated with logistics and supply chain management. He or she may bring into play information technologies and use strategic planning to recommend operational changes. A consultant may work on global optimization of a supply chain, selecting software and strategic sourcing. They may also assist clients in implementing a knowledge base along with logistical processes and tools to increase the client’s profitability. Business consultants made an average income of $71,254, according to March 2017 data from PayScale.com.
Inventory Control Manager
It’s the job of an inventory control manager to create, perfect, and put in place plans that minimize costs. This costs are associated with inventory but meet customer service expectations. They oversee the systems used for inventory management as well as any actual, physical inventory processes. They are responsible for inventory quality and the flow of inventory through the system. PayScale.com reported that inventory control managers earned an average salary of $55,093 per year in March 2017.
Operations management MBA programs helps students earn the qualifications required to work as an executive overseeing company operations. In addition to the core classes typically associated with a MBA, the operations management include courses in quality, supply chain, global operations and project management, operations planning, and service operations strategy.
Finally, Graduates in this field can work as supply chain managers, logistics managers, consultants, and more. Graduates will have mastered coursework in quality, project management, and service operations strategy, among other topics.