Operation managers who want to broaden their knowledge can take the edX operations management courses. These courses are available free of charge through the IIMB. You will be able to increase your productivity, capacity and quality. This will give you an overview about what you can expect.
Course description
This course provides the skills and knowledge to help students manage business operations and their influences. The course covers many topics such as capacity, productivity and quality, as well supply chain management and quality assurance. This course will also cover the different strategies used to optimize these elements.
The course also includes a discussion forum that allows participants to discuss and ask questions regarding the course content. This type forum is common in online classes and promotes peer learning. The course staff encourages student participation in these discussion forums. The discussion forum is the best place for students to ask questions about the course. Students can use the Help link on the course page.
Course duration
A free course on Operations Management is available through the edX platform. The course covers functions that will allow participants to increase productivity, control quality and maximize their potential. It can be accessed through the micromasters programme on edX. Candidates can complete the course within five weeks.
It includes more than 160 lectures, 14 hours worth of instructional videos, and over 180 downloadable materials. The course also contains 20 assignments. Its purpose is to give an extensive education in Operations Management. The course covers both fundamental and advanced concepts. Additionally, participants will learn the skills necessary to handle key business issues.
Course requirements
If you are looking to improve your skills in operations management, you should consider taking a course on edX. The online platform has partnered up with IIBM Institute to offer an operations management certificate program. This program equips you with the knowledge and tools necessary to analyze any organization's operational performance. It covers key concepts in four areas: process analysis, service operations, quality management, and inventory management. You'll start with process analysis tools, and move on to learn how to use statistics and performance measures to evaluate the efficiency of service operations. You'll also learn about process control, which is a tool that allows quality assurance in systems.
Operations management requires knowledge of quality assurance, supply chain management, and productivity. This field emphasizes reducing costs, improving delivery, flexibility, and innovating. This course is for students who wish to improve their skills and advance their careers.
Certification
A certificate in operations administration can help you develop the skills and knowledge that you need to improve operational performance within any organization. The program covers core concepts in four key areas: process analysis and service operations, quality control, inventory management, as well as key concepts in the other three. It will introduce you to performance measurements and statistical analysis. It also introduces process management, which can be used to evaluate the quality of both systems and processes. You will be able to optimize and manage your operations after the program is over.
The edX platform gives you access to course material and online exams covering a variety operations management topics. You can take the course at any time and place you choose. All you need is internet access. Once you've completed the course, you'll receive a certificate with IIM Bangalore logo. You don't have to pay anything and you can enroll in as many courses as necessary.
Course fees
There are many online and offline options for Operations management courses. Some sites offer a free course and others charge a small amount. Operation management courses can be as long as two years or less. The edX platform offers intuitive and well-organized navigation, which makes it easy and convenient to find a business associate and navigate through courses.
Depending on the course chosen, edX could cost as low $50. Some courses charge up to $300. It is significantly cheaper than a full masters degree which can run anywhere from $10K-25K. Each course includes a certificate and graded assignments.
FAQ
What is the difference between TQM and Six Sigma?
The major difference between the two tools for quality management is that six Sigma focuses on eliminating defect while total quality control (TQM), on improving processes and decreasing costs.
Six Sigma is a method for continuous improvement. It emphasizes the elimination and improvement of defects using statistical methods, such as control charts, P-charts and Pareto analysis.
This method attempts to reduce variations in product output. This is done by identifying root causes and rectifying them.
Total quality management refers to the monitoring and measurement of all aspects in an organization. Training employees is also part of total quality management.
It is often used to increase productivity.
Why is Six Sigma so popular?
Six Sigma can be implemented quickly and produce impressive results. It provides a framework that allows for improvement and helps companies concentrate on what really matters.
What is a basic management tool used in decision-making?
A decision matrix is a simple but powerful tool for helping managers make decisions. They can think about all options and make informed decisions.
A decision matrix is a way of representing alternatives as rows and columns. This makes it easy for you to see how each option affects other options.
The boxes on the left hand side of this matrix represent four possible choices. Each box represents one option. The top row shows the status quo (the current situation), and the bottom row shows what would happen if nothing was done at all.
The middle column displays the impact of selecting Option 1. It would increase sales by $2 million to 3 million in this instance.
The effects of options 2 and 3 are shown in the next columns. These positive changes result in increased sales of $1 million and $500,000. However, these also involve negative consequences. Option 2 increases the cost of goods by $100,000. Option 3 decreases profits and makes them less attractive by $200,000.
The final column shows results of choosing Option 4. This means that sales will decrease by $1 million.
The best thing about a decision matrix is the fact that you don't have to remember which numbers go with what. You can just glance at the cells and see immediately if one given choice is better.
The matrix has already done all of the work. It is as simple as comparing the numbers within the relevant cells.
Here's an example of how you might use a decision matrix in your business.
You want to decide whether or not to invest more money into advertising. If you do this, you will be able to increase revenue by $5000 per month. But, you will also incur additional expenses of $10 thousand per month.
Look at the cell immediately below the one that states "Advertising" to calculate the net investment in advertising. It's $15,000. Advertising is worth much more than the investment cost.
What can a manager do to improve his/her management skillset?
Through demonstrating good management skills at every opportunity
Managers must constantly monitor the performance of their subordinates.
It is important to take immediate action if your subordinate doesn't perform as expected.
It is important to be able identify areas that need improvement and what can be done to improve them.
Statistics
- This field is expected to grow about 7% by 2028, a bit faster than the national average for job growth. (wgu.edu)
- The average salary for financial advisors in 2021 is around $60,000 per year, with the top 10% of the profession making more than $111,000 per year. (wgu.edu)
- As of 2020, personal bankers or tellers make an average of $32,620 per year, according to the BLS. (wgu.edu)
- The profession is expected to grow 7% by 2028, a bit faster than the national average. (wgu.edu)
- The BLS says that financial services jobs like banking are expected to grow 4% by 2030, about as fast as the national average. (wgu.edu)
External Links
How To
How do you implement Quality Management Plans (QMPs)?
QMP (Quality Management Plan) is a system to improve products and services by implementing continuous improvement. It helps to improve customer satisfaction and product/service quality by continuously measuring, analyzing, controlling and improving.
QMP is a method that ensures good business performance. QMP improves production, service delivery, as well as customer relations. QMPs should address all three dimensions: Products, Services, and processes. If the QMP focuses on one aspect, it is called "Process." QMP. QMPs that focus on a Product/Service are known as "Product" QMPs. The QMP that focuses on customer relationships is known as the "Customer" QMP.
Scope, Strategy and the Implementation of a QMP are the two major elements. These elements can be defined as follows.
Scope: This is the scope of the QMP and its duration. For example, if you want to implement a QMP that lasts six months, then this scope will outline the activities done during the first six.
Strategy: This describes the steps taken to achieve the goals set out in the scope.
A typical QMP is composed of five phases: Planning Design, Development, Implementation and Maintenance. Each phase is described below:
Planning: This stage is where the QMP objectives are identified and prioritized. All stakeholders involved in the project are consulted to understand their requirements and expectations. The next step is to create the strategy for achieving those objectives.
Design: This stage is where the design team creates the vision, mission and strategies necessary for successful implementation of QMP. These strategies are then put into practice by creating detailed plans.
Development: Here, the team develops the resources and capabilities that will support the successful implementation.
Implementation: This refers to the actual implementation or the use of the strategies planned.
Maintenance: This is an ongoing procedure to keep the QMP in good condition over time.
In addition, several additional items must be included in the QMP:
Participation of Stakeholders: The QMP's success depends on the participation of stakeholders. They should actively be involved during the planning and development, implementation, maintenance, and design stages of QMP.
Project Initiation - A clear understanding of the problem statement, and the solution is necessary for any project to be initiated. In other words, they must understand the motivation for initiating the project and the expectations of the outcome.
Time frame: The QMP's timeframe is critical. The simplest version can be used if the QMP is only being implemented for a short time. For a long-term commitment you may need more complicated versions.
Cost Estimation is another important aspect of the QMP. Planning is not possible without knowing the amount of money you will spend. The QMP should be cost-estimated before it can begin.
QMPs are not only a document, but also a living document. This is the most important aspect of QMPs. It is constantly changing as the company changes. It should be reviewed on a regular basis to ensure that it is still meeting the company's needs.