Operations management (OM) is the administration of business practices to create the highest possible level of efficiency within an organization. It deals with converting materials and labor into goods and services in the most efficient way possible to maximize the profits of an organization. Operations management is a delivery-focused business area that ensures that an organization successfully converts inputs into outputs in an efficient manner. The inputs themselves can represent anything from materials, equipment and technology to human resources, such as staff or workers.
The course has a large number of business partners in the field of global operations and manufacturing who organize plant visits and provide opportunities for the six-month internship segment of the program. At the basic level, the two main currents to which an operations manager might belong can be reduced to companies that concentrate on manufacturing and production, or to those that provide services. However, in reality most companies won't easily fit into one category or another in their entirety of operations. Some examples of the types of specialized functions or positions it covers are procurement (purchasing goods or services from external sources), managing relationships with people involved in processes, and improving the sustainability of a company in terms of the use of resources.
An operations manager must be able to understand the series of processes within a company so that they flow smoothly and, in this sense, the function is directly related to supply chain management. There are strong parallels between the skills required for effective operations management and those needed in both logistics and supply chain management. Operations management functions within a pharmaceutical company, for example, are included in the production category. The more you analyze the question of what operations management is, the more you see how comprehensive the position can be for any company, whether small or large.
Studying an MBA in operations management usually offers a global perspective of industry trends and knowledge of financial regulations or political uncertainties that may affect an organization. Excellent organizational capacity is crucial to successfully improve efficiency and boost productivity as an operations manager. Operations management involves planning, organizing and supervising in the contexts of production, manufacturing or service provision. For example, understanding global trends in supply chain management to meet customer demand is often critical.
The Cass Business School in the United Kingdom, for its part, offers a specialized master's degree in Global Supply Chain Management (GSCM). An MBA in operations management or a specialization in a related field, such as logistics or supply chain management, should help students enter the industry by developing the necessary skills or helping those already in the industry to expand their knowledge and to occupy a position of business leadership. The Sloan School of Management at MIT has been ranked as the best high school in the world for its specialization in operations management.