Careers in Operations Management
Operations Management and management science are two interrelated fields that use analytical and quantitative methods to aid decision-making and improve the efficiency and effectiveness of operations. It is a discipline that uses mathematical modelling, statistics, and other analytical methods to help organizations make better decisions. This can include modelling and analysing complex systems, developing optimization algorithms, and using simulation to test different scenarios. These techniques help in problem solving and decision making in the field of operations management. Management science is the application of statistical techniques to specific areas of business and management. This can include areas such as production planning, supply chain management, logistics, and project management.
One of the most widely used method in Operational Management is Linear programming. It is used to optimize a linear objective function, subject to constraints represented by linear equations or inequalities. It has wide range of application like scheduling, asset management, logistics and transportation, and many more.
Another popular method is simulation, which allows managers to model complex systems and test different scenarios. This can help organizations to better understand the potential impact of changes and make more informed decisions.
Some of the other skills required to study operations management include Strong analytical and problem-solving skills (analyse complex data sets and make decisions based on that analysis), Strong organizational skills (Operations managers are responsible for coordinating the work of many different teams and departments, so being able to keep track of multiple projects and timelines is essential), Understanding of business and financial principles, Understanding of production and manufacturing processes, Knowledge of statistical process control and quality control techniques.
Careers in operations management can be found in a wide range of industries, including Manufacturing, Retail, e-commerce, Healthcare, Oil and Gas, Consumer goods, etc.
