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What is Operations Management?
Operations management is the area of study and employment that deals with the production side of business, specifically overseeing the use of materials to produce goods and ensuring production lines are cost effective and efficient. Individuals in this field work in the manufacturing side of business, applying business theory and methodology to ensure that production goals are met, costs remain low, and that machines and facets of production are maintained.
At minimum, a degree in business administration or operation management is required for individuals to be considered for employment. Larger businesses or managerial roles that require complex systems to operate may require a higher level degree in order for consideration, generally offered as a concentration when one is seeking their master's of business administration degree. An education in this field will provide students with a fundamental understanding of business as well as in depth understanding of the various types of systems and models that may be used when constructing a supply chain for the purposes of manufacturing. Individuals will also learn to manage others, oversee production lines, and how to test for efficiency and manage costs.
A curriculum may include:
- Accounting for Management
- Managerial Economics
- Production Planning and Control
- Information Systems
- Quality Assurance
Individuals in this field will primarily work for large businesses or firms that are responsible for the production of goods. Individuals will work closely with production and are tasked with supplying reports to ensure that others are properly notified of any successes or concerns regarding production, whether issues have arisen, warn of increasing costs and so on. Individuals in upper management will work toward developing policies and methodologies regarding production, including making cost cutting decision as necessary, and dictate expected deadlines based on information available.
Job Growth, Salary, and Related Fields
Overall job growth is expected to remain steady over the next decade. the growth will vary based on industry, resulting in some areas experiencing rapid growth, while others contract due to multiple factors, such as technology or decline in demand. Te average salary of an operations manager is $113,000 annually, though this can vary greatly based on education, experience, and most importantly industry.
Individual interested in operations management may also wish to consider a career in business administration, project management or customer service management.