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NMIMS Assignment Solution April 2023
Operations Management
April 2023 Examination
Q1. List down briefly
the various inventory
management techniques prevalent
in the industry. Discuss how some
of these techniques would be applicable to an Educational Setup in effective
management of their inventories; i.e Stationaries, Consumables, etc (assume
several inventories of your choice). (10 Marks)
Ans 1.
Introduction
Inventory management
can be specified as ordering, storing, protecting against, utilizing, and
offering a company's inventory. This involves managing elements, basic
materials, finished products, and warehousing and processing. There are
different sorts of inventory management, each with benefits and downsides,
relying on the business's demands.
An organization's
inventory is one of the most valuable properties. In manufacturing, retail,
food solutions, and various other inventory-
Q2.
What are various decision criteria for deciding a location for a business
setup? Explain these decision criteria with reference to a location decision
for setting up an automobile service shop (assume size of setup). (10
Marks)
Ans 2.
Introduction
Presently, incepting a start-up is
the business proprietor's goal and taking it to the elevation of success.
Nevertheless, because we should start a business arrangement in our mind, we
need initial thoughts to start.
The numerous points need to be
figured out before plunging into a start-up business in our nation. In a land
of varieties, many elements and factors enter play for the efficient running of
the business. We may have innovative business ideas, yet it needs planning and
implementation. We must figure out
Q3. A restaurant chain is planning
to open up a new mid sized multi cuisine restaurant. Considering their
expertise and knowledge in the food and beverages services, they are confident
of getting into the new restaurant operation. You are required to suggest the
team on the following points:
a. What strategy would the
restaurant adopt for an Aggregate Operation Plan of resources given a time
frame of a year? (5 Marks)
Ans 3a.
Introduction
Simply put, business
strategies determine how business targets contend in their specific field or
sector. Simply put, a business produces a unique placement by beating its
competitors.
Researching and understanding
business strategies might be easy, but it is a lot more challenging when we
attempt to determine which strategy would be best for our business. There are
many
Qb. Discuss the concept of Q systems & P systems of
ordering (5 Marks)
Ans 3b.
Introduction
Fixed Order Quantity System (Q System)
Q system means quantity system. In
this getting system, a fixed quantity of supply is obtained whenever the supply
or stock hand reaches the reorder factor. The fixed quantity of supply or raw
material got each time is the economic reorder quantity. Whenever a new order
arrives, the total inventory supply is maintained within the minimum and
maximum limits. The fixed order quantity
Dear
students, get fully solved assignments by professionals
Do
send your query at :
or
call us at :08263069601
NMIMS Assignment Solution April 2023
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