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Why PGDM in Operations Management?
An organization exists to provide goods and services to its customers. Besides Marketing and Finance, Operations is the single largest function in an organization. Operations involve management of people, processes and systems for the delivery of a product or service. It has interface with Marketing, Finance, Suppliers, Customers, and Employees etc. In fact besides its supreme importance in an organization it has the largest job opportunities. Thus a candidate has job opportunities in the areas of production, Quality, Supply Chain, Materials management etc
Operations Management has minor specializations in Marketing Management and Human Resource Management thus enhancing the job opportunities to Marketing and Human resources.
Why it is more suitable for Engineers?
The program PGDM (Post Graduate Diploma in Management) in Operations Management is designed based on the data on engineers passing out from colleges / working in industries and employment possibilities for them. MBA / PGDM has many specializations which are domain specific i.e. Finance Management, Marketing Management, Human Resource Management etc. These all force engineers to change their career path. The PGDM in Operations Management program is one step in the right direction, it provides engineers to hone managerial skills and remain in their domain area. Some of the reasons in support are:
- Engineers work at the core of any manufacturing or technical services setup.
- They lead a team of skilled manpower to ascertain the department / domain functioning.
- Operations Management specialization empowers each engineer with sharp engineering and scientific capabilities along with smart business management disciplines.
- Specialization in Operations Management gives engineers an edge over their peers in processes designing & optimization, quantitative techniques, data storage, processing & presentation, leadership and communication skills.
- Operations Management gives an exposure to other management domains as well i.e. finance, marketing etc. When working in core manufacturing domains engineers should have knowledge of other domains as well i.e. Marketing, Finance etc., since domains are interconnected e.g. a good manufacturing plan shall need a finance person node or production schedule should match marketing priorities as well.
- PGDM Operations Management has further specializations in Production Management, Quality Management, Materials, Supply Chain, Maintenance Management & Project & IT management, thus giving specialized management education in the field of experience of a working professional.
- It gives means and education necessary to start companies or manage family businesses in engineering field.
- As per a study, Operations Management is one of top 3 MBA specializations, opted mainly by engineers worldwide.
Hence specializations in Operations Management can not only make an engineer a good manager but can open new avenues in career path as well.
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What is Operations & Operations Management?
The term “Operations” usually refers to the domain in an industry, responsible for actually producing goods and services.These departments vary as per type / nature of organization. In a typical industrial setting, this may include departments like materials, supply chain, purchase, maintenance, production, quality etc. Operations Management deals with the design and management of products, processes, services and supply chains.
Why Operations Management is Important for a Company?
The field of operations management has gained increased recognition due to public awareness of the success of Japanese manufacturers. As a result, many businesses have come to realize that the operations function is just as important to their firm as finance and marketing. Also firms have realized that in order to effectively compete in a global market they must have an operations strategy to support the mission of the firm and its overall corporate strategy.
The concepts of efficiency and effectiveness of any organization revolve around the operations management. Managing operations is all about making the processes work right! Running the processes involves great degree of integration of organizational resources to get the product in the right place in the right way keeping in view the cost and time considerations.
No single innovation promises an ever lasting competitive advantage for an organization. The secret to success lies in creating such a robust competitive advantage which has its roots in the processes; the processes for use of new technology, the process for using resources, the process for utilizing the current resources to generate new ones and above all the process for creating value. These all can be achieved only if the operations are managed in a way which makes a difference and creates the concept of differentiation right at the shop floor. This is what Toyota Motor Corporation is known for! The history of Toyota is lined by continuous improvement in quality. Right from the founder of the company, Kiichiro, there has been a great emphasis on operations management and quality control systems.