Importance of Operational Management in Modern Industries
Operations Management is one of the fundamental part of any organization. It is a well known factor that more than 20% of MBA professionals came from operations background. Many of these professionals have done degree in Finance, Marketing, Information Systems and Engineering. Even though you may not be going to work in operations related work you will be working with people in operations management people during your career. The following are major cases involving in the impact of operations in business functions.
People coming from engineering sector are having skills in numerical ability. Operations management involves quantitative ability along with qualitative ability to perform well in overseeing the future of operations. It is necessary to relate individual process along with overall system procedures that connecting each process in operations management.
People coming from finance sector can oversee the budget allocations that may arise during operations. Sometimes money might be needed all of a sudden to remove the obstacles arise during the operations which only people from financial sector can solve after taking into economic considerations.
Information Technology Sector
Most companies have an IT department which eases the operations through the automation process. By knowing about the process involving operations management the people from Information Technology Sector can build a system to make operations quicker.
During various steps involved in the marketing of products, people from the marketing sector need to know about the feasibility of the product and profitability. The involvement of operations management in the marketing of products can increase the margins to a considerable figure.