The field of management that deals with the supervision, planning and redesigning business operations in the manufacture of services as well as goods is called as Operations Management. This comprises the responsibility of making certain that the operations in a business are carried out in an efficient as well as effective manner for both parties. The organizational lifecycle operation inside a firm that deals with the forecasting, planning or marketing of products or a particular product at all stages of the life cycle of that product is called as Product management

Operations Management

The basic qualification required for a student to pursue a career in operations management is a graduate degree. After finishing this, students can go for a specialization in this field. A Masters degree in Business Administration will aid the students further to gain a detailed understanding about the job. Now a day’s operations management has emerged as a very lucrative career. Career opportunities are made available in the field of Information Technology, Transportation, Financial Institutions, Consulting Firms and Logistics. Other fields include Construction, Manufacturing, Insurance, Retail and Hospitality.

Production Management

A student will require a Masters degree in Business Administration to pursue a career in production management. The minimum qualification needed to apply for this course is a graduate degree from any stream. However, graduates of technology or engineering will have a relative advantage over other graduates. The admission into the MBA in PM program is made through an entrance exam. These exams will be carried out by the concerned institutes. A few of the institutes will also consider XAT, MAT or CAT scores. There are a lot of job opportunities available for students who have finished their studies in this field. Career prospects are fairly better for students who possess B.Tech or B.E degrees alongside MBA.  Students of production management can get employment with an assortment of production industries like automobiles, heavy machinery, and engineering goods in addition to iron steel and other metal industries. Professionals of production management are also recruited by the energy, IT and the Telecom sectors.

Key differentiators between Operations Management and Production Management

Both Operations Management and Production Management have a big impact on our industries. While Operations Management is about the administration and planning of the business operations in the production as well as the service of goods, Product Management is the organizational life cycle procedure inside a company that is concerned with the prediction, planning and marketing goods at all phases of the life cycle of that particular product or products.