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Certification of Specialization in Operations Management

Program Highlights:
Real time Internship, Placement support, case studies, Industry connect..

Certification of Specialization in Operations Management

Get the practical knowledge you need to lead complex business operations by earning a certificate from University of Arkansas. Study with industry experts and professors to learn relevant skills you can apply immediately. Learn about increasing productivity, global business environment, supply chain, human resource strategies, finance for operations managers, and leadership principles.

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USD 891

Program Summary

  • 27 credits

    With this course, you are 5 credits short of an assured placement.

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  • Duration 6 Months
  • 270 Hours of online sessions

Course Topics

  • 1

    Basic Modules

    • Applied Statistics

      • Fundamentals of probability and distribution theory with applications in managerial decision making.
      • Descriptive methods
      • probability distributions
      • sampling distributions and hypothesis testing are included.
    • Introduction to Decision Support tools in Operations Management

      • Basic topics include implementations of formulas and functions to conduct breakeven analysis,
      • numerical forecasting,
      • Inventory and quality control calculations.
      • Advanced topics include linear programming,
      • optimization,
      • Monte Carlo simulation,
      • Time value of money and analysis of variance (ANOVA).
      • Introduction to functions necessary to import and analyze data to support Operations Management decisions
  • 2

    Core or Elective Subject Areas

    • Introduction to Operations Management

      • Provides an overview of the functional activities necessary for the creation/delivery of goods and services
      • productivity
      • strategy in a global business environment
      • project management
      • quality management
      • location and layout strategies
      • human resources management
      • supply chain and inventory management
      • material requirements planning; JIT
      • maintenance and reliability
    • Supply Chain Management for Operations Managers

      • Focuses on the development and application of decision models in supply chains
      • Supply chain performance
      • Cost, and metrics
      • Demand forecasting
      • Aggregate planning
      • Inventory management
      • supply chain design and distribution
      • Transportation modeling and analysis
      • Supply chain coordination
      • The role of information technology and sourcing decisions
      • Spreadsheet tools and techniques will be used to analyze supply chain performance
    • Finance for Operations Managers

      • Financial markets
      • Interest rates
      • Financial statements
      • Cash flows and performance evaluation
      • Valuation of financial assets, using time value of money
      • The meaning and measurement of risk/return
      • Capital-budgeting
      • Cost of capital
      • Capital structure
      • Dividend policy
      • Working capital management
    • Operations Management in the Service Sector

      • Review of the role of the operations management in the service sector, e.g., health care systems, banking, municipal services, utilities, and postal service and others
      • Emphasizes the principles and methodologies applicable to the solution of problems within the service industries
    • Decision Models

      • shareholder value
      • stakeholder value
      • Value-Focused Thinking
      • axioms of decision analysis
      • decision making challenges
      • decision traps
      • cognitive biases
      • decision processes
      • decision framing
      • influence diagrams
      • value hierarchy structuring
      • designing creative alternatives
      • single objective models
      • multi objective additive value model
      • swing weights
      • sensitivity analysis
      • portfolio decision models with binary linear programming
      • probability elicitation
      • Bayes Theorem
      • decision trees
      • Monte Carlo simulation
      • expected value
      • dominance (deterministic and stochastic)
      • tornado diagrams
      • value of information
      • risk preference
      • utility models
      • expected utility
      • communicating analysis insights
    • Economic Decision Making

      • Principles of economic analysis with emphasis upon discounted cash flow criteria for decision- making.
      • Comparison of criteria such as rate of return, annual cost, and present worth for the evaluation of investment alternatives
    • Principles of Operations Research

      • linear programming models
      • waiting line models
      • computer simulation models and management science
      • applications of operations research and solution methods using spreadsheet software
    • Information Technology for Operations Managers

      • e-Business and e-Commerce Systems
      • Management Information Systems (MIS)
      • Data Resource Management
      • Networking
      • Decision Support
      • Information Security
      • Enterprise and Global IT
      • IT Strategies and Solutions for Operations Managers
    • Operations Management & Global Competition

      • Studies of principles and cases in business/industrial administration in global competition
      • Survey of markets, technologies, multi-national corporations, cultures, and customs
      • Discussion of ethics, professionalism, difference valuing, human relations skills, and other topics relevant to global practice
    • Cost Estimation Models

      • An examination of the methodologies for estimating and forecasting manufacturing costs
      • Types of cost recovery systems, work progress functions, product improvement curves
      • determination of hourly rates, parametric estimating systems
      • development of software for computer-assisted estimating systems

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