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Aayushi
02 August, 2023
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Every business thrives on effective operations management for its success. During earlier times, operations always worked quietly with little attention, but the situation has changed drastically now.
Due to the constant disruption of the global supply chain and the increasing demand for company responsiveness, operations management has come to the forefront of attention in companies.
Constant reassessing and rethinking are taking place in companies to make their procedure more effective so that they can deal with the fast-changing business environment and provide a solid basis for their businesses.
Thus, operations managers are required at every level of decision making which can affect the profitability, long-term success, and competitive advantage of the company.
Operations management is the practice of overseeing different activities within a company. It includes the efficient use of resources, successful manufacturing processes, and the achievement of set goals & targets.
Operations management deals with several strategic issues, including how big industrial facilities should operate, developing project management strategies, and network designing for information technology. Organisational planning and manufacturing processes are key components of operations management.
Thus, Lee Iacocca has rightly said “In the end, all business operations can be reduced to three words: people, product, and profits.”
An Operations Manager is a person who oversees and manages the entire production process in an organisation. They aim to guarantee that an organisation is profitable, By carefully balancing cost and income.
Operations Managers work closely with other team members to boost production, provide high-quality goods and services, and guarantee client satisfaction. Their role is crucial for the smooth functioning of the business. They are also known as Chief Operating Officers or COOs.
There are a few steps that should be followed to make a successful career in operations.
Firstly, the aspirant must complete higher secondary with subjects like mathematics, accounts, statistics, economics, and business studies with a minimum of 50% marks.
The second step is to complete an undergraduate degree in disciplines like finance, accounting or business management.
However, a bachelor’s degree alone won’t get you a high-paying job in this field. Therefore, the third step could be to complete an MBA degree in operations management, supply chain management or financial management.
These types of degree programmes will give you the knowledge and skills which are required to get started in business operations.
An Operations Manager has different roles and responsibilities depending on the type of organisation they are associated with. However, a few generic roles performed by Operations Managers while carrying out business operations are-
The organisation’s procedures need to be effectively implemented and maintained by an Operations Manager. He will develop partnerships and alliances with other organisations and ensure the smooth functioning of the company.
Any organisation’s operations also include a significant portion of human resources. The Operations Manager will either be directly in charge of the HR division or assist the HR in recruiting qualified and deserving candidates.
Inventory management is crucial for Operations Managers who work in retail companies or for companies that sell certain types of goods. He will look after the overall development and implementation of inventory-related work of the company.
A significant component of an operations department is accounting and finance. The Operations Manager will either be managing the accounting department, or will actively monitor budgets, auditing, revenue expansion, and profitability.
An Operations Manager works with the board of directors and reports on the company’s work. He ensures that the processes & policies and suggests necessary changes to improve the work process. He also makes sure that all legal and regulatory documents are in place and filed on time.
Operations Managers are found in every sector ranging from healthcare to retail. But to become an Operations Manager, a person has to start from the entry-level and gain experience and expertise in product management, leadership, strategy building, problem-solving, etc.
To start the career as a fresher, the first position that will be offered in this field would be Operations Associate.
Thus, to climb high on the corporate ladder, from Operations Associate to Operations Manager, a person will have to invest in terms of time and effort, and gain experience along with constant upskilling and knowledge development.
According to Ambition Box, the salary of an operations manager ranges from ₹4.0 lakh per year to ₹19.0 lakh per year.
The position of Operations Manager is essential for ensuring organisational success. They also keep up with market developments and use their expertise to promote growth within the organisation by adopting cutting-edge technology, techniques, and best practices. They play an important role in transforming operational outcomes.
If you are a detail-oriented person and enjoy being organised, if you frequently advise others on how to make improvements or identify alternatives, then operations management is the right career for you.
There can be several types or aspects of operations management depending on the industry but the broad 4 types of operation management include – supply-chain supervision, inventory handling, quality management, and production planning.
There are a few companies like Amazon, Flipkart, Wipro, Axis Bank, HDFC, and Genpact which require full-time Operations Managers to supervise daily activities.
The minimum qualification required to become an Operations Manager is an undergraduate degree in subjects like finance, business management, supply chain management or operations management.
The answer to this question varies deeply based on education and the qualifications of an individual. However, this is a mid-level position and thus, a work experience of anywhere between 4-5 years would be required to become an Operations Manager.
The average annual salary of an Operations Manager is ₹7 lakh per annum.
