MBA in Operations Management Courses

The hype and information around MBA in finance, marketing or HRM often keep students from pursuing the undermined MBA in operations management. However, the scope of operations management is expanding remarkably, with individuals and organisations realising the importance of efficient management and effective planning.

The pointers below explain the scope of operations management and why pursuing an MBA in it is worth it:

1. Demand across every industry

With operations becoming a vital aspect of running a business efficiently, the demand for operations managers is high in almost every industry. Working in operations management is a flourishing career in India and abroad, and organisations of all sizes are focusing on operations to drive profitability and customer satisfaction.

2. Job opportunities in multiple sectors

An MBA in operations management makes students eligible for job opportunities in various sectors, including manufacturing and retail, hospitality, consulting firms, construction, banking and finance, information technology, e-commerce, warehousing, and more.

3. Opens avenues to leadership positions

Operations, being an indispensable business aspect, an MBA degree in operations management increases the likelihood of climbing up the organisational hierarchy to bag top leadership roles. Needless to say, these positions provide significant job stability, flexibility, and liberal pay.

The growth of the e-commerce industry has been one of the primary drivers of operations management across various industries. In addition, the tremendous growth of the service sector points toward an upward trend in the future scope of operations management.

Since operations management does not limit itself to one industry or sector, its scope is constantly increasing and creating new opportunities for professionals interested in working in the field. Competition is intense, and companies leave no stone unturned to streamline operations to thrive in the competitive market. As a result, there is an emerging requirement for companies to hire operations professionals who can bring value to the organisation.

Apart from elective subjects that hone the area of interest of individual students, the MBA in operations management program includes a set of core subjects for all. The list of core subjects in MBA operations management are:

• Managerial Economics
• Corporate Environment
• Demand and Business Forecasting
• Accounting for Managers
• Management of Organisations
• Business Skills Development
• Production Management
• Project Management
• Corporate Legal Environment
• Business Communication
• Quantitative Techniques and Methods
• Demand and Business Forecasting

In addition to the core subjects, MBA operations management imparts practical skills to students in the following:

• Database Management System Analysis
• Computer-Aided Design
• Enterprise Resource Planning Strategic Information
• Networks for Business Electronic Commerce
• Data Mining Software Engineering
• Systems Data Warehousing
• Business and Communicational English

If you are wondering how an MBA in operations management can be useful for your career, take a look at these benefits of specialising in operations management:

1. A better understanding of industry-specific needs

Students pursuing an MBA in operations management have a proactive understanding of the specific needs of the industry. Regardless of the sector, they understand the needs and requirements of an organisation and its clients and handle operations accordingly.

2. Opportunity to work in various industries

An MBA in operations management opens the door to multiple industries, from manufacturing and retail to banking, healthcare, and finance. Employees with operations knowledge and skills are in high demand across these industries, making MBA operations management a much-sought-after program.

3. Hands-on exposure to new tools and technology

Operations managers are required to work with various tools and technology in the day-to-day functioning of the operations department. For instance, the use of drones by e-commerce companies for doorstep delivery of groceries and other items is a classic example of the use of technology in operations management.

4. Prepares for operations positions

Most importantly, an MBA in operations management prepares you for various roles associated with the operations management of organisations. The knowledge, skills, and hands-on experience you gain throughout the MBA program make you eligible for the job market and enhance your credibility with potential recruiters.

We have already discussed the top B-schools in India offering MBA in operations management. However, if you want international exposure and are willing to invest more in your MBA education, you can opt for colleges abroad. The fees for MBA programs abroad are significantly higher than in Indian colleges. Besides, admissions to MBA programs abroad require that you qualify for GMAT and language proficiency tests like TOEFL and IELTS.

Here is a list of universities and colleges offering MBAs in operations management in the USA, Canada, UK, and Australia.

USA

1. The Graduate School of Business, Stanford University

2. MIT Sloan

3. Harvard Business School

4. University of Pennsylvania Wharton

5. Columbia Business School

6. Carnegie Mellon University

7. Stephen M. Ross School of Business

8. Kellogg School of Management, Northwestern University

9. Haas School of Business, University of California Berkeley

10. The Fuqua School of Business, Duke University

Canada

1. Schulich School of Business, York University

2. School of Business, University of Alberta

3. Goodman School of Business, Brock University

4. Smith School of Business, Queen’s University

5. Wilfrid Laurier Campus, Toronto Campus

6. Rotman School of Management, University of Toronto

7. Ivey Business School

8. McGill University

9. Desautels Faculty of Management

10. University of British Columbia

UK

1. Saïd Business School, University of Oxford

2. London Business School

3. Cambridge Judge Business School, University of Cambridge

4. Warwick Business School, Warwick University

5. Alliance Manchester Business School, University of Manchester

6. University of Greenwich

7. Imperial College London

Australia

1. Melbourne Business School, University of Melbourne

2. Australian Graduate School of Management, University of New South Wales

3. Monash Business School, Monash University

4. La Trobe Business School, La Trobe University

5. Macquarie Graduate School of Management, Macquarie University

6. UWA Business School, University of Western Australia

7. RMIT University School of Business

8. Deakin Business School, Deakin University

9. UQ Business School, University of Queensland

10. ANU College of Business and Economics

Working professionals aiming to pursue an MBA in operations management in India can apply to the premier IIMs of the country. However, the eligibility criteria, admission process, and work experience required may vary across institutions.

The following IIMs offer Executive MBA in operations management:

1. IIM Ahmedabad

2. IIM Calcutta

3. IIM Ranchi

4. IIM Bangalore

5. IIM Udaipur

Operations offer ample job opportunities should you pursue a career in operations management post-MBA. Major employment areas for operations management graduates with an MBA degree include:

• Operations Manager
• Production Manager
• Purchasing Manager
• Inventory Manager
• Distribution Manager
• Supply Chain Manager
• Plant Manager
• Quality Manager
• General Operations Manager
• Process Reengineering Manager
• Quality Analyst
• Production Analyst
• Industrial Engineer

MBA graduates with specialisation in operations management can get jobs in various sectors, including-

• Manufacturing
• Retail
• Banking and financial services
• Management Consulting
• Construction
• Information Technology
• Hospitality
• Logistics
• Transportation
• E-commerce

An MBA in operations management trains students on how to design and improve an organisation's business operations and production processes. At its core, operations management aims to maximise efficiency and profits by converting raw materials into finished products and services that meet client needs.

Companies across various industries and sectors are looking for talented and skilled individuals who can lead the company towards success by streamlining operations. Therefore, one must know the top five career options one can pursue after an MBA in operations management.

1. Operations Manager

An operations manager is responsible for managing the overall operations of an organisation, including planning, budgeting, scheduling, and optimising to deliver the best outputs. The operations manager must ensure efficient and effective utilisation of labour and resources while looking after necessary quality control and safety measures. Therefore, operations managers must be proficient in managing people and resources with the ability to do immaculate paperwork.

2. Process Manager

A process manager is in charge of overseeing the processes within an organisation. Thus, the job profile of process managers includes coordinating and supervising the day-to-day execution of business processes, identifying areas that need improvement, and implementing the changes to the process. Evaluating the performance of the processes also forms a key aspect of the job role of process managers. Process managers must have analytical abilities and an eye for detail.

3. Plant Manager

Plant managers are responsible for ensuring the daily operations of a production plant run efficiently and smoothly. They plan, organise, manage, run, and optimise daily plant operations and are responsible for maintaining product quality and standards. Plant managers must allocate resources effectively and draw budgets using appropriate forecasting models. Thus, plant managers must be team players with sound management and negotiation skills that thrive in dynamic and challenging work environments.

4. Inventory Control Manager

Inventory control managers oversee inventory control and the overall inventory management process, including inventory tracking, warehouse operations, maintenance, inventory audit, and more. The varied nature of an inventory control manager’s role requires a dynamic skill set such as leadership abilities, problem-solving skills, organisational skills, and knowledge of data analysis. It is also crucial that inventory control managers have an eye for detail to avoid errors.

5. Purchasing Manager

Purchase management focuses on purchasing raw materials and the logistics of incoming shipments that an organisation requires. It also involves comparing market prices and negotiating for the right price with suppliers to ensure that the final products and services are of acceptable standard and quality. Besides, a purchasing manager’s job description includes developing and implementing purchasing strategies, allocating tasks, supervising staff, maintaining documentation, coordinating with inventory control, and more.

Getting a product or service market-ready is a complex affair involving multiple processes, players, and stakeholders. Two of such critical processes are operations management and supply chain management. Although similar in some respects, the two are distinct processes with vital roles. Therefore, business professionals must understand the differences in the two processes to enhance the value and performance of the output.

Supply chain management

Supply chain management involves sourcing materials, manufacturing products, and delivering the finished products to the consumer. As such, supply chain managers coordinate with logistics teams, suppliers, and consumers as part of their job profiles. Supply chain management also includes security and risk evaluation. Thus, a critical aspect of a supply chain job manager’s role entails regular evaluations of suppliers, forecasting demands, improving customer service, and coordinating sales, marketing, finance, and quality assurance departments.

When done correctly, supply chain management facilitates efficiency from suppliers, reduces costs, improves customer service, ensures faster delivery, and helps companies respond faster to innovations and market demands.

Operations management

Unlike supply chain management, operations management deals with the production systems of a business, including their maintenance, planning, and analysis. Thus, operations managers oversee the internal business operations, focusing on how goods and services are developed rather than how they are moved. The job profile of an operations manager also includes forecasting sales, increasing responsiveness to market demands, meeting customer demands, and upholding product/service quality standards.

Role of supply chain management and operations management

Both supply chain management and operations management add value and drive business revenue by making processes more efficient. In a way, the two are connected - supply chain management controls the production process of goods and services, and without it, operations management would not have anything to oversee. While many industries require both approaches, smaller organisations may have a single person or department fulfilling both roles. This is because the necessary skillset for supply chain management and operations management is similar, such as decision-making, communication, organisation, cross-functional leadership, and goal setting.

Supply chain management vs operations management

The primary difference between supply chain management and operations management is where each occurs. While supply chain management deals with processes outside an organisation, such as sourcing materials and delivering products, operations management is concerned with the processes inside the organisation.

On the one hand, the supply chain manager negotiates contracts and evaluates suppliers; on the other, operations managers plan and supervise the day-to-day operations and processes. Besides, supply chain management activities are often the same across industries. On the contrary, the roles and responsibilities in operations management can vary significantly depending on the product or service a company produces.

The table below summarises the differences between operations management and supply chain management:

MBA programs are slightly different in structure compared to other academic or professional courses. Students pursuing an MBA degree can enrol in a one-year program, a two-year program, or a distance degree.

Candidates can opt for an MBA in operations management in any one of the following modes:

• Two-year full-time MBA
• One-year full-time MBA
• Part-time MBA
• Online MBA
• Executive MBA

Two-year full-time MBA

A two-year full-time MBA is the traditional MBA program and one of the most common ways students pursue the degree. It is widely prevalent in the United States, with top institutions and B-schools such as the Stanford Graduate School of Business, Harvard Business School, and the University of Pennsylvania Wharton offering two-year full-time MBA programs. Two-year MBAs develop students’ fundamental business skills with ample focus on specialisations, projects, assignments, and internship programs. While the first year covers business fundamentals like finance, marketing, communication, and strategy, year two focuses on specialisations.

One-year full-time MBA

One-year MBA programs are more commonly offered in business schools across Europe and Asia. They include much of the same course content as a two-year MBA but are more intensive and fast-paced due to their shorter time. A one-year MBA program will develop your core business skills, and you may still have time to focus on your specialisations. However, the time you can dedicate to your elective papers will be much less. Therefore, a one-year full-time MBA in operations management is a great call if you are not looking to make any major career change but only want to gain relevant experience to accelerate your current career path.

Part-time MBA

If you are a working professional with insufficient time to devote to academics, a part-time MBA is your best shot. It is an excellent option for candidates who don’t want to quit their jobs to pursue a full-time MBA and yet get a degree from a reputed business school. A significant advantage of part-time MBAs is that they allow ample flexibility to learn at your own pace and time. Students pursuing part-time MBA often complete the course over a prolonged period, typically 2-5 years. With a part-time MBA, you can take classes that suit your schedule. Most institutions offering part-time MBA programs host evening or weekend classes for the benefit of working professionals.

Online MBA

Recent years have assessed a rise in demand for online MBA programs. Several online platforms offer these comprehensive MBA programs in collaboration with reputed business schools worldwide. A significant advantage of online MBA programs is that students can complete their degrees from the comfort of their homes and from anywhere in the world. Plus, online MBAs have the same course content as a physical program, with the lessons usually delivered by the same faculty. Like a part-time program, online MBAs provide a flexible learning experience with the freedom to study and learn at your own pace. Classes in online MBA programs may be synchronous or asynchronous, depending on the learning platform you choose.

Executive MBA

Mid-career professionals looking to take the next big leap into top executive positions or leadership roles can go for an executive MBA. Applying for an executive MBA typically requires a minimum work experience since these programs emphasise the practical experience each student brings. Executive MBA classes are generally held in part-time mode, on the weekends or during the evenings. Therefore, working professionals get a chance to implement what they learn in real-life work environments. Executive MBA programs typically span over two years with a greater focus on leadership and management skills.

The primary reason why anyone would pursue an MBA in operations management is the plethora of skills and knowledge of tools they acquire during the program. Below we list the essential skills and tools every operations manager should be well-versed with to streamline business operations better:

Top operations management skills

• Employee management - A critical skill for operations managers, employee management skills involve effective monitoring of each team member, allocating tasks, and measuring their progress over time.

• Standards implementation - Regardless of the industry, businesses run based on standard operating procedures. An operations manager must have the ability to ensure that company staff are abiding by the SOP and related laws.

• Technical proficiency - Operations managers must be proficient in the technical aspects of running a business, including data entry, data processing, product automation, designing processes, tracking budget information, and more.

• Strategic planning - Critical thinking and strategic planning are critical skills required of any operations manager. Operations managers must approach challenges creatively and interpret information necessary for making decisions about business processes.

• Risk analysis - Risk analysis and mitigation are crucial aspects of managing business processes. Operations managers must be able to analyse their companies’ processes to identify pitfalls, anticipate challenges, and design solutions should a contingency arise.

• Budget management - Since operations managers are frequently involved in managing a company's production budget and finances, they must have good budget management skills.

• Problem-solving - Operations managers have to deal with conflicts arising in operations management, be it between employees or the challenges in a project. Problem-solving skills will help the operations manager analyse the situation and implement solutions to overcome workplace problems.

• Decision-making - It is equally vital that operations managers have good decision-making skills to consider different perspectives, analyse how multiple factors affect business outcomes, and how different strategies can improve business operations.

• Communication - Exceptional communication and interpersonal skills are crucial for operations managers to interact effectively with clients, colleagues, and other stakeholders. This includes written and verbal communication skills, presentation skills, listening skills, and negotiation skills.

• Time management - Time is a valuable resource in operations management to ensure the timely delivery of goods and services. Operations managers must have exceptional time management skills to monitor milestones, schedule deadlines, and ensure that teams finish projects within the stipulated time.

• Leadership - Lastly, operations managers must be efficient leaders to inspire and motivate others and build a diverse team. Only good leaders can mobilise people, promote collaboration, and implement strategies for achieving business objectives.

Top operations management tools

The list of essential operations management tools is quite extensive and may differ from the product or service a business offers. Below we list some of the top tools that every professional in operations management can find helpful:

• Zoho - A cloud-based software company offering a wide range of SaaS applications such as Mail, CRM, Chat, Projects, and more.

• Trello - A project management tool that helps users organise and keep track of projects.

• Slack - Cloud-based team collaboration tools and services that allow instant messaging, video calling, file sharing, and more.

• UiPath - A robotic process automation (RPA) tool for automating repetitive data extraction, entry, and manipulation tasks.

• Basecamp - Software for organisations to communicate with team members and manage projects.

• Hive - A project management software enabling users to collaborate on tasks and projects in real-time.

• ZenDesk - A cloud-based customer support software with features like live chat and a ticketing system.

• Intercom - Its customer relationship management software enables businesses to engage with customers, manage customer data, and track marketing and sales metrics.

• PandaDoc - A document automation tool for sales and marketing teams to streamline the document creation process with real-time visibility into document status and analytics.

• Loopio - A cloud-based RPA software that uses bots to automate business processes such as lead generation, customer support, and data entry.

An online MBA in operations management has significant advantages over its offline counterpart for several reasons, including-

Flexibility

Online MBA programs provide a flexible learning experience where students can study at their own pace and time.

Convenience

With online MBA programs, you can take classes from anywhere in the world with 24/7 access to lectures, study materials, and learning resources.

Cost-effective

Online MBA programs are relatively less expensive than offline courses. Besides, you can save significantly on transportation and accommodation costs with remote learning.

Global networking

Most importantly, online MBA programs allow you to network with peers, professionals, and experts from different parts of the world for a holistic and enriching learning experience.

A two-year MBA in operations management program spans four semesters. Students are taught core business skills and general business management in the first year. The following year puts greater emphasis on specialisations.

The table below gives the semester-wise syllabus for MBA in operations management:

According to research, the valuation of the global operations management market stood at USD 12,034.63 million in 2020, with a projected CAGR of 11.63% to reach USD 25,997.04 million by 2027. The future scope of operations management professionals looks bright. With operations management becoming an indispensable aspect across sectors, the industry is set to expand further in the future. Consequently, the demand for operations management professionals will increase as more and more companies embrace the need to streamline operations to maximise profitability and productivity. The demand for an MBA in operations management can also rise as candidates will be more inclined to acquire industry-relevant skills and explore career opportunities in the field.

The estimated average annual salary of an Operations Specialist in India is INR 4.8 LPA, with the monthly take-home salary ranging from INR 35,803 to INR 37,031.

Factors on which MBA in Operation Management Specialist salary in India depends

The salary of an Operations Management Specialist in India depends on the following factors:

• Experience
• Skills
• Location
• Company type
• Industry

MBA in Operation Management Specialist Starting Salary in India

The estimated average starting salary of Operations Specialists in India is around INR 3 LPA. A minimum of two years of experience is required to become an Operations Specialist.