OM0010 OPERATIONS MANAGEMENT

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ASSIGNMENT

DRIVE	SPRING 2015
PROGRAM	MBADS (SEM 3/SEM 5)MBAFLEX/ MBA (SEM 3)PGDOMN (SEM 1)
SUBJECT CODE & NAME	OM0010 OPERATIONS MANAGEMENT
BK ID	B1934
CREDITS&MARKS	4 CREDITS AND 60 MARKS

Note: Answer all questions. Kindly note that answers for 10 marks questions should be approximately of 400 words. Each question is followed by evaluation scheme.

Q. 1. Answer the following questions:

Q. 1. 1. What are the objectives of operations management?

Answer:Objectives of the Operations Scheduling –

1. Making efficient use of the labour.

2. Making best possible use of the equipments that are available for the use.

3. Increasing the profit.

4. Increasing the output.

5

Q. 1. 2. What are the major limitations of operations research?

Answer:There are a number of limitations of operations research which may be stated as follows:

1. In the quantitative analysis of operations research, certain assumptions and estimates are made for assigning quantitative values to factors involved. If such estimates are wrong, the result would be- equally misleading.

Q. 1. 3. Explain the relationship among organisation, operations and marketingstrategies.

Answer:Operations managers are integral to organizational strategy in many companies and organizations. The Bureau of Labor Statistics (BLS) reports that over 1.7 million operations and general managers were employed throughout the United States in 2010 in various industries. Operations managers made an average salary of $113,100 per year, according to the BLS. This provides some indication of their overall importance for the development of the organizations for which they are employed.

Q. 2. Write short notes on

1. Consumer Pricing Expectations Range (CPER): Consumers have an expectation range when it comes to pricing. It’s possible to adjust their range upwards through a combination of terrific marketing and evangelists. But you need to have both:

·         Apple has successfully adjusted the consumer pricing expectations range (CPER) for

2. Constrained optimization problems.:In mathematical optimization, constrained optimization (in some contexts called constraint optimization) is the process of optimizing an objective function with respect to some variables in the presence of constraints on those variables. The objective function is either a cost function or energy function which is to be minimized, or a reward function or utility function, which is to be maximized. Constraints can be either hard constraints which set conditions for the variables that are required to be satisfied, or soft constraints which have some variable

Q. 3. Answer the following questions:

1. What are the difficulties/challenges faced by service operations managers?:

Ans: Operation managers play a central role in stabilizing an organization's policies and procedures across major business areas including finance, planning and technology. In small businesses, the role of the operation manager is often assumed by the business's owner or its general manager. The job involves overseeing the company's

2. What is service blueprint? What are its components?:

Ans : The service blueprint is a technique used for service innovation, but has also found applications in diagnosing problems with operational efficiency and can be used to conceptualise structural change (i.e. repositioning). The technique was first described by Lynn Shostack, a bank executive, in the Harvard Business Review in 1982. The blueprint shows processes within the company, divided into different components which are separated by lines.

Q. 4. Give the steps for solving the goal programming problem using the graphical method of

goal programming.

Explain the 2 types of goal programming with multiple goals.

Answer:Goal programming is a branch of multiobjective optimization, which in turn is a branch of multi-criteria decision analysis (MCDA). This is an optimization programme. It can be thought of as an extension or generalisation of linear programming to handle multiple, normally conflicting objective measures. Each of

Q. 5. Find the minimum transportation cost from the data given below using the north-westcorner method

Unit/Depot D1 D2 D3 D4 Supply

S1 2 3 5 1 8

S2 7 3 4 6 10

S3 4 1 7 2 20

Demand 6 8 9 15 38

Compute the minimum transportation cost using northwestcorner method

Answer:Procedurally, the value (often denoted by the Greek letter epsilon, - ) is used in exactly the same manner as a real number except that it may initially be placed in any empty cell, even though row and column requirements have been met by real numbers. A degenerate transportation problem showing a Northwest

Q. 6. Answer the following questions:

1. What are the benefits of maintaining inventory?

Answer:Inventory management is a good practice for any company. If you are not keeping a watchful eye on your inventory or counting stock regularly, you are setting yourself up for potential inventory errors and challenges. Proper inventory management really can make or break your business! Keep the following benefits in mind as you weigh the cost of not implementing an inventory management strategy:

·         A good inventory management

·          

·          

2. Give any 2 applications of queuing models.

Answer:Queuing theory is the mathematical approach to the analysis of waiting lines in any setting where arrival rate of subjects is faster than the system can handle. It is applicable to healthcare settings where the systems have excess capacity to accommodate random variations.

1.       The need for application of queuing theory in healthcare settings is very important because

3. Mention any 2 performance measures of sequencing.

Answer:Flow shop scheduling problems, are a class of scheduling problems with a workshop or group shop in which the flow control shall enable an appropriate sequencing for each job and for processing on a set of machines or with other resources 1,2,...,m in compliance with given processing orders.

4. What are the characteristics of Markov analysis?

Answer:Markov analysis, like decision analysis, is a probabilistic technique. However, Markov analysis is different in that it does not provide a recommended decision. Instead, Markov analysis provides probabilistic information about a decision situation that can aid the decision maker in making a decision. In other words, Markov analysis is not an optimization technique; it is a descriptive technique that results in probabilistic information.

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