2024 December 06 Archive - EXEIdeas

Need help choosing the right MBA specialization? We hear you. Picking an MBA subject specialisation is no easy deal and a lot of factors have to be considered.This question − which area of business is right for my career − comes with the complication that many areas of business overlap. Many areas in business overlap. This can make it hard to choose the right path for your career. For example, supply chain management & operational management are two connected fields, but they are not the same.Before you embark on your MBA program, it is ideal to do a good background research.Let’s now compare two major specialisations of MBA – supply chain and operations management.SCM – Overview:SCM is about managing and supervising the entire supply chain starting from sourcing the materials to the end product reaching the consumer. It covers everything that happens to products, like moving them, sharing information, and keeping track of costs.SCM requires a strategic perspective, focusing on building networks with suppliers and consumers, which can span across global markets. It emphasizes risk management, cost reduction, and improving customer service.The main supply chain management components are:Planning: Scheduling & planning purthe chase of materials for production.Sourcing: Identifying and negotiating with suppliers to procure necessary materials.Manufacturing: Overseeing production processes to optimise efficiency.Delivery: Sticking to agreed timelines for delivery of finished products to consumers.Supply chain managers coordinate various activities like procurement, logistics and inventory management. They analyse data and optimise processes to increase efficiency and minimise costs. They need to adapt to market changes and maintain good relationships with vendors and suppliers.Supply Chain Management – Career Options:A few top career paths to consider in supply chain management are:Supply chain managerLogistics managerSupply chain analystProcurement managerSupply chain consultantInventory managerOperations Management (OM) – Overview:OM focuses on all the internal operations of a business and involves process optimization, increasing efficiency and product quality. Operational management forms the foundation of any organization. Operations managers oversee all the internal processes from the supply chain to quality control and resource allocation to achieve maximum efficiency.Operations management involves creating goods or services from a combination of raw materials. The aim of business is to accomplish this in the most efficient manner with regard to cost.Operations Management has a more tactical approach in comparison to Supply Chain Management. It focuses primarily on the work done daily at an organization since it aims at efficiency improvement, cost reduction, and ensuring that customer demand is met by effective internal processes.The core functions that fall in operational management are:Process managementQuality controlSupply chain managementInventory managementPerformance measurementHR managementCareers In Operations Management:Some of the popular career paths in operations management are:Operations ManagerChief operating officerOperations AnalystProject managerProduction managerQuality control managerThe Difference: Supply Chain Management Vs Operations ManagementThe roles, functions, and advantages are different because these two components serve different purposes in supporting the operation and expansion of the business although they contribute to the successful running of the corporation.When it comes to different sectors, the supply chain operates more or less in the same manner. In turn, operation processes vary widely according to industry or product-related factors.Operations managementSupply chain managementFocusOrganization’s internal processesExternal processes involving the entire supply chainActivitiesProduction plan, scheduling, process improvement, quality control, project managementSourcing, purchasing, logistics, demand planning, inventory managementKey SkillsProblem solving, data analysis, decision making, leadership, technical know-howNegotiation, strategic thinking, global awareness, risk management, networkingGoalMaximise efficiency and productivity of internal processesOptimise the flow of goods & services from suppliers to consumers.Making Your DecisionIdeally yo,u should pick a subject according to your interests and career goals. Here are some questions you can ask yourself to get more clarity:What Are Your Career Goals?If you aim to work directly with suppliers and logistics networks or have a keen interest in global trade dynamics, SCM might be your best fit. If you prefer optimizing internal processes and managing production efficiency within organizations, OM could be more suitable.What Skills Do You Want To Develop?SCM focuses on strategic sourcing and logistics management. OM emphasizes process improvement and efficiency metrics.What Industries Interest You?SCM roles are prevalent in the manufacturing, retail, and logistics sectors. OM roles are present across multiple industries including healthcare, finance, and technology.Choose Operations Management if:You are good at problem-solving & data analysisYou are very detail-orientedYou are interested in working in diverse industriesChoose Supply Chain Management if:You are good at strategic thinking & planningYou have a global perspective on business & tradeYou are good at interacting with people & building relationshipsSummary:Thus, Supply Chain Management and Operations Management are complementary factors in the smooth running of a business. Even though they have many similarities, such as working towards the enhancement of efficiency, they are separate from one another in terms of area, emphasis, and responsibility.Knowing these differences will assist MBA students in making a more informed choice about their career paths.In the face of competition, the industry is poised to blossom, and those adept in Supply Chain Management or Operations Management will have a continuing choice of contributing positively to the success of the organization.Whichever of the two concentrations you choose – Supply Chain Management or Operations Management; it should match your interest and career ambitions.Get Started:Supply Chain Management is a quickly growing sector on a worldwide scale with a special boom in e-commerce and tech-led organizations. Demand for professionals who can optimize operations while cutting costs is increasing.An online MBA in Supply Chain Management is an ideal choice to gain job-specific skills required in the business industry.Now more people are choosing an online MBA as it’s cost-effective and convenient compared to offline courses. It lets you study while still keeping up with your job. Plus, you’ll learn useful skills that matter in the industry.About the Author:Sreedevi Jeevan is a content creator from Kerala, India, with a flair for crafting engaging and insightful narratives. Specializing in topics like Supply Chain, Education, and SEO, Sreedevi has a deep understanding of these areas, allowing her to create content that informs and captivates readers. With a particular interest in the online MBA in Supply Chain Management, she is dedicated to delivering high-quality content that resonates with a diverse audience. Constantly seeking to enhance her knowledge and skills, Sreedevi ensures her work stays relevant and impactful in the ever-evolving digital world.Find Me On LinkedIn