Ph.D. in Operation Management | 3 Basic Requirements

Ph.D. in operation management: Having a Ph.D. in Operation Management will set you on a high pedestal in life and career. In this article, we will be delving into all that is needed to have a Ph.D. in operation management and benefits.

What is Operation Mangement?

The analysis, planning, and control of the processes involved in creating and delivering goods and services are the main areas of focus for operations management. It uses methodical, quantitative approaches to promote efficient business decision-making by analyzing, designing, and building company operations.

Based on data, process analysis, and quantitative modeling, operations management assists in assessing and choosing courses of action. Numerous business operations, such as service operations, manufacturing, distribution, transportation, logistics, supply chain management, revenue management, quality management, finance, human resources, information systems, marketing, and strategic planning, offer excellent opportunities for the efficient application of these tools, techniques, and methods. Practically every element of a company can benefit from the application of operations management.

Ph.D. in Operation Management | Counseling And Assessment

All first-year Ph.D. students receive advice from the coordinator of the operations management doctorate program. Students have numerous opportunities in their first year to learn about the departmental faculty’s research interests through lectures, seminars, and research practicals.  Students usually choose an advisor before the start of their second year, who starts to present them with possible study subjects. Students will have chosen a thesis advisor by the middle of their third year. Every year, plans for the upcoming year are taken into consideration and the academic progress of each student is evaluated.  A formal letter evaluating the student’s performance from the previous year and providing suggestions for the work to be done the following year is included in this review.

Ph.D. in Operation Management | Investigation And Communication With Academic Staff

In the past, academic members with significant expertise in operations management and operations research have been part of Stern’s operations management group. These two fields continue to have a big impact on the teaching and research interests of the operations management faculty, along with statistics, data science, economics, and computer science. There is a lot of interest in leveraging operations to give businesses a competitive edge in the current business climate.

Doctoral students in operations management take core courses in data science, stochastic processes, and optimization theory. Offerings for electives include inventory theory, game theory, supply chain finance, assortment optimization, service operations, and more, all of which are based on the specializations of the faculty. Additionally, students are encouraged to help faculty members who are currently employed by businesses or to gain first-hand knowledge by establishing personal connections with businesses.

The faculty members concentrate their study on subjects that are new and developing in the field of operations management in the rapidly evolving modern economy. To comprehend how to design operating systems, contracts, and quality systems for the management of decentralized supply chains; best practices in retailing; vehicle routing; call center management; task and workforce scheduling; internet business models and strategies; and how to forecast new product sales, they employ a combination of analytical, empirical, and theory building methodologies.

Program Prerequisites

It is expected of doctoral candidates studying operations management to attain proficiency in both operations research and operations management. To be admitted to the NYU Stern doctoral program, all applicants must be able to demonstrate their proficiency in probability, statistics, and microeconomics through coursework from previous degrees or by enrolling in an equivalent course at NYU.

Students pursuing a Ph.D. in operations management are also required to take three methodological core courses in data science, stochastic processes, and optimization.  Students can sign up for elective courses related to their chosen field of study after fulfilling their course requirements. The operations management group’s most recent PhD electives include:

• Pricing in the Sharing Economy
• Stochastic Inventory Theory
• Supply Chain Finance
• Service Operations Management
• Game Theory
• Choice Models in Operations
• Applied Game Theory

Before graduating, doctorate students must finish five research practicals in addition to the compulsory courses. Students in research practicums collaborate closely with faculty members to perform cooperative research projects. These courses are worth one credit and are assessed as Pass or Fail.

Students should be expected to build their independent research skills through close collaboration with faculty members. Before October 1st of their third year, students must complete written and oral comprehensive exams after finishing their core coursework. In their third year of study, students are also required to finish a teaching practicum in which they help a faculty member prepare a lesson.

Having a Ph.D. in Operation Management will set you on a high pedestal of life and career. If you have any questions let me know in the comment section.