Operations and Management Science (OMS)
OMS is a cross functional area interfacing all other business functions such Marketing, Finance, Accounting, MIS and Management. It consists of the two intertwined areas: Operations Management (OM) and Management Science (MS).
- OM is the core of a firm and is central to its ability to compete effectively. It deals with the management of all activities that are directly involved in the acquisition and utilization of resources, the production, and the distribution of goods and services. These activities are integrated and managed using the tools and models developed by MS.
- MS (also known as Quantitative Decision Making, or Operations Research) normally formulates decision problems as mathematical models, generates the necessary data, and then solves the models (often with the help of the computer) to determine optimal operating policies.
Recent Advances in MS and Information Technology enable researchers and practitioners to look beyond the individual firm and integrate the production activities with inbound activities such as those of the supply process as well as with outbound activities such as those of the distribution process. The efficient integration of information and processes across suppliers/vendors, manufacturers, and distributors is known as Supply Chain Management (SCM). At AGSM, we believe the next generation of top managers may very well emerge from SCM. U.S. news and World Reportdescribes SCM as one of the 20 hottest job tracks of the 21st century.
Students interested in OMS concentrations normally start with principles of MS where they learn how to formulate decision problems as mathematical models, and how to solve such models. Students then get into the issues of OM and SCM where they learn about production planning and control, logistics and warehousing (material and inventory control), distribution, quality assurance, among other issues.
Students interested in OMS concentrations can enjoy very good career prospects. An MBA or a BS degree with concentration in OMS will equip students with the skills and the ability to manage highly complex systems in a wide variety of organizations. These include firms and institutions in high tech industry, financial, educational, e-businesses, engineering, consulting, government agencies, etc. Careers include supply chain managers or analysts, production managers, logistics planners, purchasing managers, quality control managers, packaging experts, and trade negotiators, among others.