Operations Management Specialisation
Navigating Today's Business World with Tomorrow's Leaders
- Financial Management Specialisation
- Banking & Financial Management Specialisation
- Business Analytics Specialisation
- Digital Marketing Specialisation
- Financial Research & Valuation Modeling Specialisation
- Hospitality Management Specialisation
- Human Resource Management Specialisation
- Information System Specialisation
- International Business Specialisation
- Marketing Management Specialisation
- Operations Management Specialisation
- Retail Marketing Specialisation
- Supply Chain Management Specialisation
- Sports Management Specialisation
Why Operations Management in PGDM?
Prime Minister Narendra Modi’s “Make in India” call to the world community to spur growth in India’s GDP is sure to provide an increased impetus to the cause of excellence in operations management.
In his Independence Day address, Prime Minister Narendra Modi not only emphasized upon the need for some vital socio-cultural reforms but also stressed on the need for exemplary growth in the production of goods and services. In case, India gains its much-awaited entry into the league of developed nations in the next decade, this address would certainly be remembered for his clarion call to the world for the need to “Make in India”.
Mostly, every organization offers either a service or product to customers. Offering high-quality services/products not only helps attract customers but also builds trust, boosts your sales, and gives you a competitive edge in the market. Certainly, ensuring the product/service offered is of high quality and value for your customers to buy is an integral aspect of every business.
Operations management is one of the most in-demand careers in the industry. Getting the most value out of your resources is the key to profit in every business. If you are seeking a career in operations management, it’s essential to understand the role, responsibilities, and requirements of this field.
Top reasons to choose Operations Management as a Specialization
Operations Management is one of the most in-demand careers in the industry. What does an Operations Management Professional’s do? It’s the science of getting things done. Any organization has four basic functions: Planning, Directing, Organizing, and Controlling.
The Operations Manager is in-charge of all these functions for their company or business unit. They’re responsible for planning, directing, and controlling processes that lead to desired outcomes (like making money!). With demand high and talent scarce, these OM Professionals are highly sought in many industries, including manufacturing, healthcare, retail, transportation, energy production, and distribution.
One of the reasons people choose to study PGDM in Operations Management is that they earn a PG Degree in this field with so many opportunities available for career growth – companies need more skilled Operations Management Professionals than ever before – they’re worth checking out.
Careers / Jobs Roles in Operations Sector
In recent years, PGDM in Operations Management hiring for operations jobs has gone up in India, especially with the increase in e-commerce firms and the use of technology in operations management functions.
Operations management constitutes diverse responsibilities, from product development to project management.
- Capacity Planning – Operations management involves evaluating the number of products or services a company can sell or distribute in a particular period.
- Product Design/Service Design – Product design or service design involves generating new ideas and creating a service or product to ensure that the products sold/ services rendered to customers meet their needs and expectations. Operations management needs to consider the cost-efficiency of a product while ensuring that it meets the needs of customers.
- Quality Control – This involves quality management or quality assurance. It deals with monitoring services or products through each step in the production process or service operations for probable issues or errors.
- Process Improvement and Optimization – This involves evaluating the steps involved in a process and recreating the process totally or restructuring the steps to maximize efficacy.
- Supply Chain Management – This involves managing the supply chain process by maintaining control of sourcing of the supplies, the production process, inventory management, sales, and distribution, at affordable rates. This results in lower overhead costs, effective production, and timely delivery of products.
- Facilities Management – The growing emphasis on outsourcing non-core operations and growth in the real estate sector is expected to drive the Indian market for facility management services.
- Strategizing and Planning – Operations management is also responsible for high-level strategizing and planning.
Salary Packages for Operations Management Professional
Some of the top job designations for PGDM in Operations Management Graduates are mentioned below:
|Average Salary (in INR)
|Top Recruiting Companies
|Supply Chain Manager
|Purchasing services and goods for the organization
|6 – 12 LPA
|Accenture, MEIL, L&T, KPMG, etc.
|Implementing and managing supply chains
|6 – 10 LPA
|ICICI Lombard, Flipkart, HDFC Bank, etc.
|Planning and recommending operational changes
|3 – 8 LPA
|IBM, Casting Networks, EY, etc.
|Inventory Control Manager
|Creating and perfecting plans to minimize inventory cost and maximize customer satisfaction
|4 – 10 LPA
|Randstad, Optum Global, Myntra, Amazon, etc.
Therefore, PGDM in Operations Management students must take their summer project and industry training very seriously to reflect what they have done, in their CVs; which helps them to get better job opportunities, across various sectors.
Some of the top companies that hire PGDM in Operations Management graduates are mentioned below in a tabulated format along with the average salary offered:
|Name of the Organization
|The Boeing Company
|8.7 LPA to 13 LPA
|8.6 LPA to 10 LPA
|3 LPA to 8 LPA
|6 to 10 LPA
|5.8 LPA to 18 LPA
|General Electric Co. (GE)
|4.8 LPA to 20 LPA
|6 LPA to 12 LPA
|9 LPA to 20 LPA
Most of these companies, unlike government organizations, hire freshers to get the job done. This is because they have enough capital to invest in a management trainee to make them skilled and ready them for their future endeavours.
Top Recruiters for Operations Management Professionals
Some of the significant employers from worldwide organizations who recruit PGDM in Operations Management are as follows:
- ICICI Lombard
- Casting Networks
- Amazon.com Inc
- Medtronic Inc
- Ernst & Young
- General Electric Co. (GE)
- HDFC Bank
- The Boeing Company
- Optum Global
- Ford Motors
Growth of Operation Sector in India | Facts & Figures
- Operations and Supply Chain Management (OSCM) encompasses a broad range of functions involving sourcing, forecasting, operations planning, materials management, distribution, retail, logistics, and order fulfilment. It covers both the manufacturing and service industries.
- Today, the global SCM and Logistics market is projected to reach nearly $13,000 billion by 2027, with India emerging as one of the key players in the industry. As per estimates, India’s supply chain and logistics market will reach $307 billion by the end of 2021. And during the upcoming decade, the global supply chain management market is expected to more than double in size. In the current economic scenario, where India OSCM sector is experiencing an increasing influx of domestic and international capital, the growth of businesses depends on robust OSCM strategies to improve value, efficiency and profits.
Specialization Module – 3 | Operations Management
Supply Chain Management