Benefits of Distance MBA

Master of Business Administration (MBA) is among the most sought-after courses in the world because of its impressive scope. This course is perfect for those who yearn to take up managerial positions in esteemed organisations or for those who wish to embark on their entrepreneurial journey. In this course, individuals master managerial skills and they gain requisite knowledge and skills that can be effective in setting up and running a business.

Every year, oodles of students covet to pursue this course. However, only a few students are able to secure their seats in management colleges. Furthermore, only a handful of students can support the whopping fees of MBA offered by private colleges. Then, there are some students who cannot pursue post-graduation due to professional commitments or physical barriers. The end result is that only a fraction of MBA aspirants can actually pursue the course.

Distance MBA: A ray of hope for all management aspirants

In order to pose a solution to the aforementioned problems, distance MBA course was introduced. The course is offered online, so students can study according to their schedule. In addition to that, the fee structure of correspondence MBA is just a fraction of the exorbitant fees of a regular MBA course. Thus, it facilitates hosts of management aspirants to elevate their career prospects by pursuing the course.

Various institutes and universities offer MBA via distance learning mode, which often perplexes the students in choosing a college. However, if you are looking for the top distance learning institute for management courses, then you should select MIT School of Distance Education (MIT-SDE).

Best distance learning institute in India: MIT-SDE

MIT-SDE is the component of the MIT Group of Institute, which is a reputed educational group in India. Just like its parent group, MIT-SDE is known to offers best in class distance MBA course. It offers management courses spanned across different duration to cater to diverse professional needs of the candidates. It offers 24-months Post Graduate Diploma in Business Administration (PGDBA), 18-months Post Graduate Diploma in Management (PGDM) and 12-months Post Graduate Certificate in Management. These courses are offered in exciting specialisations such as Operations, Supply Chain, HR, Finance, Risk Management, Marketing, and any more. These courses are equivalent to MBA but better than it due to several reasons.

Benefits of pursuing Distance MBA from MIT-SDE

1. Updated Curriculum

Unlike regular MBA, the curriculum of PGDM, PGDBA and PGCM courses offered by MIT-SDE is updated regularly. So, MIT-SDEs courses are relevant to the current industrial landscape. Every year, MIT updates its curriculum according to the industrial scenario.

2. Lucid and comprehensive study material

The study material is prepared by the industry experts and published by the experts of Wiley Publications. It contains modules, lecture videos and other resources that facilitate self-learning. The modules are easy-to-understand and they are self-explanatory.

3. Reasonable Fee

MIT-SDE offers reasonable fee structure for all its courses. Furthermore, there are scholarships for meritorious students. There is even the facility to pay the fees in installment, so students can study with peace of mind.

4. Webinars by experts

In order to build the concepts and clear the doubts of the students, experts are brought onboard through Webinars. The students can interact with the experts and clarify their doubts in the webinars.

5. Career guidance and placement support

The experts of MIT-SDE are at students’ disposal to offer career guidance throughout the course and even after its completion. MIT-SDE also offers placement support to its students.

Career Opportunities after MBA

Masters in Business Administration (MBA) is one of the most sought-after post-graduate courses which can be pursued after any under-graduate program such as B.Com, B.Tech or BBA. An MBA course is available in many streams such as finance, risk, IT, marketing, human resource, project management and many more. This course has an impressive employment record as it is known to offer more than 90% employment to its graduates.

So are you planning to choose MBA as your ultimate career goal? Are you wondering about the kind of job and salary package you will get after your job? Here you will get a brief description of the most preferred courses, their jobs and salary packages after an MBA course:

1. Finance Management

Finance is one such field which opens doors for a lucrative career. A course in financial management gives you a chance to enter different sectors such as banking and financial services, wealth management and many more.

In a company, the job of finance professional is to ensure the availability of funds for completing the business operations successfully. A finance professional must be able to balance the amount of risk and profitability in the business, maximise stock value and take care of day to day finances.

If you are looking for career opportunities in abroad (U.S), then the annual average salary as finance professional will range from $ 48000 to $ 170000 and in India, it will range from INR 4 lakhs to 30 lakhs.

2. Human Resource Management

Human Resource (HR) managers are imperative for every organisation as they manage the biggest asset for an organisation i.e., human resource. It is the task of HR professionals to select the right professionals for the right job, train them and ensure that they are working productively throughout. After a course in HR management, professionals can find jobs in MNCs, educational institutions, organisations, and almost every firm as HR management are pivotal for the success of a business. A degree in HR management allows one to attain different job titles such as HR Generalists, Compensation Manager, Placement Manager, etc. A fresher HR manager can earn between INR 3 to 6 lakhs and with experience, the salary increases.

3. Project Management

An MBA in Project Management is one of the most sought-after courses because the students gain skill-set which is immensely valuable for any business. A course in project management deals with topics such as cost management, time management, risk management, asset management and other aspects that ensure the success of a business. A project management professional can attain job titles such as Project Leader, Project Planner, Engineering Director and many more.

Since it is one of the most desired skills in recent years, it is highly paid, offering an annual salary package of INR 400,000 and above to the fresher and more than INR 2,000,000 to an experienced professional.

The field of management offers a high-flying career to the professionals and the ticket to enter the field in an MBA course. However, a plethora of management aspirants are unable to pursue regular MBA course due to financial difficulty, personal problems, physical constraints or professional hindrance. So these are the career opportunities after MBA. Such professionals choose to pursue correspondence MBA course. At MIT School of Distance Education, we offer PGDM and PGDBA courses that are equivalent to distance MBA but much better than it as the syllabi are updated to sync with the industrial trends. So, choose MIT-SDE’s courses to enhance your employability skills.

Four strategies for successful material management

Material management is an essential aspect/process of every manufacturing firm. It entails to the procurement of the material, its transportation and effective management of the inventory, right from the manufacturer to the shelf. Material management has its own significance in enhancing the productivity of the firm. It is basically a labour-intensive process. It includes various operations such as regular monitoring of the purchased material, inventory management and distribution of the material.

The process of planning, organizing, monitoring, implementing and controlling the flow of materials to and fro a firm is quite intimidating.  Hence, the process needs to be handled smoothly and skillfully. That is why companies hire professionals for the task and pay them a handsome amount for the same. In such an opportunistic scenario, a material manager can easily find his position in almost every organisation that understands the significance of material management.

If you wish to make a successful career in this exciting field, then you should pursue MBA-equivalent Post Graduate Diploma in Material Management to hone your skills. The course will teach you these four effective strategies that facilitate successful material management:

1. Lookout for quality suppliers

A regular flow of supply can keep the company thriving. On the contrary, the companies may face adverse situations if there is an obstruction in the continuity of the supplies as the company will not be able to meet the demands of the customers. It will become impossible for a company to directly deliver the required quantity of products to the customers on time if they fail to obtain the quality suppliers within the stipulated period. This, in turn, may result in loss of the customers and immense monetary loss of the company. Thus, it is imperative for the material manager to foster a good relationship with the suppliers so that the company can easily rely on the suppliers to fulfill its supply needs.

2. Proper order process

The customers’ demands keep on fluctuating. However, a firm should always be well-equipped to meet the demands of the customers. They should always have sufficient inventory to handle even the turnover demand. For this, a firm must regularly keep a check on its stocks. This, in turn, facilitates proper calculations related to supplies so that the material manager has a better idea of the replenishment amount. Having a better idea of the replenishment amount facilitates in placing reorder for the required materials before its depletion.

3. Proper analysis

It is an essential step for the material manager to carry out different analysis. Proper analysis not only includes inventory management, but it also includes maintaining financial aspects. The companies must exploit an effective inventory system that keeps an account of the total purchase as well as the sale of every item for proper analysis. The common goal should be to ensure that the cost of purchasing a material is less than its sales. Apart from this, the accounts of inventory must be updated on a monthly basis. This facilitates the material manager to analyse the data and easily manage the cost of inventory.

4. Cost savings

Since most of the task related to material management require manpower, it is imperative for the material manager to ensure the best pricing. He should know how to get top-notch quality work done at minimal cost. He should also know the minimum cost that should be spent to purchase high-quality materials.

A few things that need to be kept in mind

• Include cost inventory.
• Regulate high turnover.
• Try to achieve a minimal cost of storage and procurement while keeping the quality intact.

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