Which is the best MBA for Operations Management?
Operations Management (OM) is the science of streamlining the design as well as production and management of processes, products, supply chains, and services of a manufacturing or production company.
What are the applications of Operations Management?
Operations Management can be applied at various levels, based on the location and size of a manufacturing plant, to the structure and delivery of a service or a telecom network, and could even include designing technology supply chains. Besides the overall perspective, this management stream also deals with tactical and technical details such as plant layout, project management techniques, technology & equipment selection, and replacement of older methods or machinery. The operations management team also determines production schedules, manages inventories, controls quality, and manages material flow. A plant's equipment management and maintenance policies are also set by them.
What are the responsibilities of an Operations Management personnel?
In the global marketplace, Operations Management personnel are the backbone of a company's operations, determining costs, quality, and delivery of products and services. They are involved in all processes, right from choosing the right raw materials to selecting suppliers and providing a strong customer experience. They ensure that a company's strategy is implemented on the ground, whether in the factory or in the marketplace. As a result, Operations Management has become a critical function, especially when it comes to e-commerce or technology products, where suppliers, as well as customers, are spread across the world. The latter expects no compromise on the quality of the products or services. Optimal operations is the key to competitive edge, and the long-term success of a company.
What does an MBA in Operations Management Offer?
MBA programs offer students the expertise to tackle the vast and complex sphere of Operations Management. The curriculum focuses on conceptualizing, implementing, and tracking various processes. The processes could be related to capital, labor, raw material, information, technology, and the customer. Students learn how to connect all the disparate elements that make a product or service into a smooth, replicable structure. They understand various quality processes. The programs also stress innovation and efficiency with Lean Operations and Lean Six Sigma. MBA students master methods of implementing a process and learn to apply metrics across each system. Sustainability is now an integral part of operations management.
Operation Management Career Options
Operation Management careers can be at various levels, including strategic, tactical, and operational. Nearly every type of organization and industry requires strong Operations Management, especially the service, manufacturing, and retail industries. Management consulting and IT are two other sectors of potential employment. Responsibilities could stretch from handling a region to covering the global market.
Possible roles include Sales or Marketing Operational Manager, Operational Manager of a particular section or department, overall Operations Manager, Business Analyst, Senior Associate, and Operations Consultant.
Operation Management Career Paths (Roles, Salary, and Responsibilities)
Here are some of the common job titles under Operation Management, along with their Salaries and Responsibilities.
| Operation Management Job Roles | Annual Average Salary | Responsibilities |
|---|---|---|
| Operations Coordinator | $71,069 | Assists in the management of a company's daily operations and performs administrative tasks. |
| Operation Analyst | $70,541 | Examines a company's procedures, policies, and organizational processes to identify potential areas for improvement. |
| Operations Supervisor | $61,010 | Ensures that their departments are operating efficiently, remaining productive, and submitting high-quality work. |
| Operations Manager | $67,513 | Their primary responsibilities include supervising and managing budgets and finances, managing workflow processes and staffing requirements, managing inventory and supply chain management, and developing policies for the entire company to follow. |
| Project Manager | $81,121 | Manage and supervise various projects within an organization They will keep track of their team members' progress to ensure that they exceed the client's and the company's expectations. |
| Program Manager | $70,351 | Collaborate with project managers to determine the progress of individual projects to ensure they are adhering to the organization's strategic direction. |
| Operations Engineer | $94,579 | To create reports and strategies to improve workflow, evaluate the company's performance reports and organizational systems. |
| Director of Operations | $90,428 | Helps the senior team members develop long-term business strategies. |
| Chief Operating Officer | $138,822 | Reports directly to the CEO to ensure that the company is running smoothly and following all necessary financial procedures. |
| Vice President of Operations | $141,566 | Their primary responsibilities include creating and developing the company's values and vision, hiring and supervising department heads, resolving any disputes or disagreements among all employees, and presenting the company's metrics and performance data to the board of directors. |
Top MBA Programs for Operation Management
We have categorized the top MBA programs in the world on hiring in Operations Management.
| Top MBA | Rank | Placement (2022) | Salary (2022) | Signing Bonus/Compensations |
|---|---|---|---|---|
| MIT Sloan | 1 | 9.8% | $135,000 | $35,000 |
| Foster School of Business | 2 | 7% | $137,552 | NA |
| Ross School of Business | 3 | 9% | $133,416 | $30,000 |
| Kelley School of Business | 4 | 6% | $122,000 | $30,000 |
Here are our top 4 picks for MBA in Operations Management
1) MIT Sloan
Sloan's Operations Management Group is at the forefront of all things Operations Management. The group fosters interaction with a wide variety of disciplines like Operations Research, Marketing, Industrial Engineering, Behavioral & Organizational Sciences, IT, and Microeconomics. It is well known for cutting-edge research in Operations Management and Systems Dynamics that includes Strategic Sourcing, Supply Chain Management, eCommerce, Pricing, Quality, Inventory Control, Process Design, and Product Development. The school also has a host of Research Centers that help advance the curriculum and students' knowledge in this field. They are The Lean Advancement Initiative, Operations Research Center, MIT Center for Transportation & Logistics and Productivity from Information Technology.
The MIT Sloan core curriculum includes operational management subjects like Economic Analysis for Business Decisions, Organizational Processes and Intro to Operations Management. Students seeking a career in Operations Management can choose from a wide range of relevant electives, including from two particular streams - Operations Management, and Operations Research/Statistics and System Dynamics.
Some of the electives on offer include International Supply Chain Management, Seminar in Operations Management, Manufacturing System and Supply Chain Planning, Management of Supply networks for Products and Services, Management of Services, Logistics Systems, Systems Optimization, Queues - Theory and Applications and System Dynamics for Business Policy.
Sloan also provides the opportunity of completing a Sustainability Certificate that teaches students how to transform markets, communities and organizations for sustainability. For the past 3 years, the Operations & Project Management function has been consistently ranked #3, after Consulting and Finance. As per the employment report of 2022, Operations accounted for 9.8% of the class, at a median base salary of $145,000 with $35,000 sign-on bonus.
2) Foster School of Business
Foster School of Management covers Operations and Supply Chain Management as its core in the spring quarter covers topics such as Productivity and competitiveness, Capacity planning, Inventory management, and Just-in-time production systems.
Foster School of Business offers five electives under the Operation Management course, which includes Project Management, Supply Chain Management, Business Analytics: Tools for Big Data, Enterprise Risk Management, and International Supply Chain Management.
Foster School of Business offers experiential learning to complete an applied learning elective course. Several elective courses combine classroom theory with a hands-on project with a local business. With the help of this opportunity, the students can also complete the applied learning in Operation Management.
As of the 2022 employment report, 7% of Foster School of Business students were placed in the Operation Management function with an annual base salary of $137,552.
3) Ross School of Business
Ross’ Technology & Operations Department leads the research with a focus on supply chain management, manufacturing & service operations, IT, Business Innovation, and Business Analytics. The Tauber Institute for Global Operations partners with the Ross School and the College of Engineering at the University of Michigan. The trio positions students to master Operations Management with education in operations, supply chain and manufacturing, using a cross-disciplinary, action-based teaching process. The center gives students the opportunity to attend a 14-week consulting project for companies, tackling operations management, supply chain, as well as manufacturing challenges.
Ross' core curriculum covers Operations Management while the electives include courses like Applied Regression and Data Analysis, Manufacturing and Supply Operations, Project Management, Global Supply Chain Management, and the Tauber Institute Team Project. The Operations Management Club gives students the means of obtaining a career in Operations through the Annual Global Operations Conference and other events that provide hands-on experience in Operations Management.
The school also provides full-time MBA students the opportunity to specialize in Global Operations.
In 2022, the Operations/Logistics function took up 9% of the class, with a median salary of $133,416 and $30,000 as a signing bonus.
Career Planning
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Related MBA Application Essay Guides
• Ross MBA Essay Guide
• MIT Sloan MBA Essay Guide
4) Kelley School of Business
Kelley School of Business offers Supply Chain and Operation Management as its core course. In addition to that, students must opt for five major electives and four minor subjects. If one wants to work in operations as a procurement manager, plant, logistics, or another capacity, you should major in supply chain and operations. The school offers major electives such as Independent Study in Operations Management and Production/Operations Project Course under the core - Supply Chain and Operation Management course.
The student-led Data and Operations Club at Kelley is another source for learning about operations, decision science, and supply chain management. When developing programs, the club's executive team collaborates closely with Supply Chain and Operation Management directors.
As per the 2022 Kelley MBA Employment report, Operation and Supply Chain functions took up 6% of the MBA grads with a $122,000 annual median base salary.
