What is operation management?

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Operations management is a field that can sometimes be misunderstood because of its multidisciplinary nature. However, its functions form the lynchpin of businesses the world over and success can often rest squarely on its shoulders.

The MBA in operations management is a common specialization among leading business schools worldwide.

Operations management is chiefly concerned with planning, organizing and supervising in the contexts of production, manufacturing or the provision of services.

As such, it is delivery-focused, ensuring that an organization successfully turns inputs to outputs in an efficient manner.

There are strong parallels between the skills required for effective operations management and those needed in both logistics and supply chain management. Excellent organizational ability is crucial in successfully enhancing efficiency and driving productivity as an operations manager.

Its benefits include: Operation management involves similar management for every industry or business irrespective of their nature of the operation.

Planning, organizing, staffing, monitoring controlling, directing and motivating are its significant elements.

Operations management (OM) is the business function responsible for managing the process of creation of goods and services.

It involves planning, organizing, coordinating, and controlling all the resources needed to produce a company's goods and services.

An MBA in operations 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 skillset or to help those already in the industry to widen their knowledge and push on into a business leadership role.

Basically, operations processes transform inputs to outputs. Inputs are things like raw materials, labour, equipment, information, and money.

Outputs are products or services, as well as the level of customer satisfaction people have after they've purchased from you.

Operations managers play a leading role in managing both raw materials and personnel. Oversight of inventory, purchasing and supplies is central to the job.

Human resources tasks include determining needs, hiring employees, overseeing assignment of employees and planning staff development.

Operations management is chiefly concerned with planning, organizing and supervising in the contexts of production, manufacturing or the provision of services.

. As such, it is delivery-focused, ensuring that an organization successfully turns inputs to outputs in an efficient manner.

The performance objectives are quality, speed, dependability, flexibility and cost.

The foremost objective of Operations management is to reduce the cost in every process and increase the efficiency.

Operation management is about matching supply with demand.

They are responsible for the production scheduling, staffing, quality control, equipment operation and maintenance, inventory control, and coordinating the unit's activities with that of the other departments.

Jobs include: line supervisor, manufacturing manager, production planner, production manager.

Average Business Operations Manager Pay vs. Other Best Jobs. With an average salary of $122,090 per year in 2016, business operations managers are among the best-paid professionals on our list.

Still, they make less than financial managers ($139,720) and marketing managers ($144,140).