OM0013 - Advanced Production

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Summer 2013

Master of Business Administration- MBA Semester 3

OM 0013 - Advanced Production

Q1. What is Flexible Manufacturing System (FMS)? How does it help in improving the manufacturing process? (Definition of FMS - 1 mark; Characteristics- 2 marks; Explanation of system designed to produce components – 3 marks; How there is flexibility in the manufacturing process – 2 marks; Components of FMS – 2 marks) 10 marks

Answer :  Flexible Manufacturing System:

A flexible manufacturing system (FMS) is a manufacturing system in which there is some amount of flexibility that allows the system to react in the case of changes, whether predicted or unpredicted. This flexibility is generally considered to fall into two categories, which both contain numerous subcategories.

Characteristics of FMS :

i. Improvement of the operation control :

Q2. What is Logical Process Modelling and give the comparison between Logical and Physical Modelling? (definition of logical process modeling- 1 mark; steps- 2 marks; explanation of Logical Process Model - 3 marks; logical Modelling formats- 1 mark; Comparison Between Logical and Physical Modelling- 3 marks) 10 marks

Answer : Logical process Modelling :

Logical Process Modeling is the representation of putting together all the activities of business process in detail and making a representation of them. The initial data collected need to be arranged in a logical manner so that links are made between nodes for making the workflow smooth.

Steps of logical process Modelling :

Q3. Write short notes of Risk management.

(Meaning of Risk management risk – 2 marks; management life cycle including diagram-3 marks; risk reduction by noting changes to existing risks and updating in the risk management mode- 3 marks; role or project risk manager and individuals in managing risk- 2 marks) 10 marks

Answer : Meaning of Risk management :

The process of identification, analysis and either acceptance or mitigation of uncertainty in investment decision-making. Essentially, risk management occurs anytime an investor or fund manager analyzes and attempts to quantify the potential for losses in an investment and then takes the appropriate action (or inaction) given their investment objectives and risk tolerance. Inadequate risk management can result in severe consequences for companies as well as individuals.

Q4. List out the inventory decision rules for MRP and the benefits and drawbacks of MRP.

 (Inventory decision rules – 6 marks; benefits – 2 marks; drawbacks – 2 marks) 10 marks

Answer :  Inventory decision rules :

A computerized system for managing dependent-demand inventory, scheduling replenishment orders, and meeting demand for end items as given in the Master Production Schedule.

Two basic characteristics of MRP:

1. MRP derives demand for components, subassemblies, materials, etc., from demand for and production schedules of parent items.

2. MRP offsets replenishment orders (purchase orders or production schedules) relative to the date when replenishment is needed.

Q5. The v4L learning principles are perfectly blended across all Toyota supply chain management processes to systematically concentrate on the v4L balance. Explain them.

 (Variety; Velocity; Variability; Visibility – 10 i.e. 2.5 marks each)

Answer : V4L learning principles :

Toyota has mastered the art of learning and believes that the principles to attain mastery are universal. Moreover, Toyota has spread these ideas throughout its supply chain in its leadership role. We shall review these ideas in later chapters and provide a summary of methods that makes learning a practical and ongoing process at every level and every task in Toyota. The v4L learning principles are combined across all Toyota supply chain management processes to systematically focus on the v4L balance:

Q6. Explain the key elements of Just In Time.

 (Key elements – 9 marks, i.e. 1 mark each; conclusion – 1 mark)

Answer : Key elements of Just In Time :

1. Stabilize and level the MPS with uniform plant loading :

It create a uniform load on all work centers through constant daily production (establish freeze windows to prevent changes in the production plan for some period of time) and mixed model assembly (produce roughly the same mix of products each day, using a repeating sequence if several products are produced on the same line).

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