27 Aug Troubleshooting Tides
The two most sought-after roles in the industry today are supply chain managers and operations managers. The Bureau of Labor Statistics predicts that through 2022, operational management professionals’ employment will expand by roughly 12.5%. Supply chain and logistics specialists are in high demand, according to Forbes.
Before taking the next step in your career, it’s critical to understand the similarities and distinctions between the fields of operations and supply chain management if you’re a professional preparing to advance to a management or leadership role.
Understanding Supply chain management and Operation management:
Supply chain management is the method of coordinating all the activities in a company’s supply chain to plan and track the flow of goods from origin to destination. From the extraction of raw materials to consumer purchase, SCM encompasses all of the processes necessary to get the right product into the hands of the appropriate consumer at the right time.
Operations management is a process used by companies to meet their needs through the use of human, capital, and information resources. The goals are to increase efficiency and profitability by developing new processes, utilizing existing processes more effectively, and improving product quality.
But how do they differ?
The supply chain is one of the key business processes which has a direct impact on your company’s ability to deliver on time. This process requires coordination between multiple departments throughout all levels of your business. You see, the supply chain involves locating and transporting both raw materials and finished goods and on the other hand, operations management is all about regulating production and commercial operations as efficiently as possible. To optimise net operating profit, OM experts strive to strike a balance between operating costs and revenue.
Throughout this learning journey, one thing is clear: supply chain management and operation management are interdisciplinary fields that require great knowledge and leadership skills. They not only just deal with numbers and procedures; they address people and unstructured data in their everyday work. This type of multi-disciplinary education can be easily applied to real-world scenarios. Although supply chain and operations managers oversee various departments within an organisation, they are both expected to add to the overall value of the company. A more successful bottom line can be attained by learning how to develop flexible, economical, productive, and efficient processes.