OM 0010 - OPERATIONS MANAGEMENT

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DRIVE

Spring 2017

PROGRAM

MBA

SEMESTER

III

SUBJECT CODE & NAME

OM 0010 - OPERATIONS MANAGEMENT

1 Explain the concept of operation management. What are the elements of operations management?

A

v Concept of Operations Management

v Elements of Operations Management

Answer:

Operations management is defined as that activity whereby resources, flowing within a defined system, are combined and transformed in a controlled manner to add value in accordance with policies communicated by management.

Whereas the term "production," in a narrow sense, is often associated with a quantity of goods, or

2 Explain the concept of forecasting. Also Elaborate the steps involved in the forecasting process.

a. Concept of forecasting

b. Forecasting Process

Answer: Concept of Forecasting

You can define forecasting as a mechanism that is widely used in organisations. It is a planning tool that helps organisation to cope with future uncertainties by using the past and present data. The basic

3. An organisation has three production centres P1, P2 and P3 that supply products to four warehouses W1, W2, W3 and W4. The monthly production capacities of the three production centres are 160, 150 and 190 units, respectively. The monthly demand of warehouses is 80, 90, 110 and 160 units, respectively. The transportation cost per unit (in rupees) is shown in following Table

Warehouses	W1	W2	W3	W4
Production Centres
P1	10	12	8	15
P2	12	14	18	9
P3	15	12	20	16

Discussion questions:

1. How many units should an organisation supply to warehouses so that the total transportation cost is minimised?

2. Calculate Total Transportation Cost

Answer: Construct the transportation cost matrix table, which is as follows:

Availability = 160+150+190=500

Requirement = 80+90+110+160=440

In the given case,

4 Explain the following criterions that a decision maker may adopt under uncertain conditions.

a. Maximax Criterion

b. Maximin Criterion

c. Minimax Regret Criterion

d. Realism Criterion

e. Insufficient Reason Criterion

Answer: Maximax Criterion: It is the criterion in which a decision maker selects the alternative that provides the maximum payoff. This criterion is based on the assumption that all available alternatives would provide the best possible outcome. Maximax criterion is a strategy that maximises the maximum gain. The maximax criterion is also known as the optimistic criterion or

5. Solve the assignment problem shown in the following table:

	1	2	3	4
A	15	9	14	22
B	12	10	20	17
C	7	8	6	9
D	20	16	17	18

Also determine the total assignment cost.

Answer: Conduct row and column operations as the assignment problem is balanced. The row operations involve selecting an element having a minimum value in each row starting from row A and subtracting that element from all other elements in that row. After completing row

6 Elaborate the replacement of equipment that deteriorates with time. What are the limitations of replacement models?

Replacement of equipment that deteriorates with time.

Limitations of replacement models.

Answer: Replacement of Equipment that Deteriorates with Time

When the operational efficiency of equipment goes on decreasing with the gradual passage of time, it is economical to replace the same with a new one. The replacement decisions for such equipment are taken based on the economic life cycle and monthly or annual operating costs of the equipment.

Dear students get fully solved assignments

Send your semester & Specialization name to our mail id :

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or

Call us at : 08263069601

(Prefer mailing. Call in emergency )