OM0010 OPERATIONS MANAGEMENT

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ASSIGNMENT

ASSIGNMENT DRIVE	WINTER 2015
PROGRAM	MBADS (SEM 3/SEM 5) MBAFLEX/ MBA (SEM 3) PGDOMN (SEM 1)
SUBJECT CODE & NAME	OM0010 OPERATIONS MANAGEMENT
BK ID	B1934
CREDIT & MARKS	4 CREDITS & 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. Define operations strategy. What are the differences between manufacturing and service organisations in terms of operations strategy?

Definition of operations

List and explain differences between manufacturing and service organisations in terms of operations strategy

Answer:The Operation is a Jobs or tasks consisting of one or more elements or subtasks, performed typically in one location.  Operations transform resource or data inputs into desired goods, services, or results, and create and deliver value to the customers. Two or more connected operations constitute a process, and are generally divided into four basic

Q. 2. Explain the characteristics of services.

Answer: A service is an act or performance offered by one party to another. They are economic activities that create value and provide benefits for customers at specific times and places as a result of bringing desired change. Service is an act or performance offered by one party to another. They are economic activities that create value and provide benefits for customers at specific times and places as a result of bringing about a desired change in or on behalf of the recipient of the service. The term service is not limited to personal services like medical

Q. 3. What is inventory control? Explain the factors considered in inventory control.

Answer: Inventory control is a simple matter for businesses that sell only one or two products. However, as companies diversify their merchandise, they face a number of challenges related to inventory control. If not handled well, these challenges can result in a loss of revenue stemming from the misplacement, over-procurement or under-procurement of inventory.  A component of supply chain management, inventory management supervises the flow of goods from manufacturers to warehouses and from these facilities to point of sale. A key function of inventory management is to keep a detailed record of each new or returned product as it enters or leaves

Q. 4.Explain the applications of queuing models

Answer: Queueing theory is the mathematical study of waiting lines, or queues. In queueing theory a model is constructed so that queue lengths and waiting times can be predicted. Queueing theory is generally considered a branch of operations research because the results are often used when making business decisions about the resources needed to provide a service.  Queueing theory has its origins in research by Agner Krarup Erlang when he created models to describe the Copenhagen telephone exchange. The ideas have since seen

Q. 5.Write short notes on Markov analysis.

Answer: Markov analysis is a Statistical technique used in forecasting the future behavior of a variable or system whose current state or behavior does not depend on its state or behavior at any time in the past in other words, it is random. For example, in the flipping of a coin, the probability of a flip coming up heads is the same regardless of whether the previous result was heads or tails. In accounting, Markov analysis is used in estimating bad debt or uncollectible accounts receivable. In marketing, it is used in modeling future brand loyalty of consumers

Q. 6. Describe the various types of decision making models.

List the models

Describe the 3 decision making models

Answer: When we speak of rational behavior, we should remember that our focus in this discussion is not on making decisions, but rather on how to support the process of making decisions. Managers are change agents, not just decision makers, so the steps before and after a decision are as important as the actual choice of action. Preparatory steps include creating tension for change, understanding the positions of the various constituencies, and developing political support for a chosen action. Steps after the decision include naming the change monitor and identifying the monitoring methods. Therefore, the mission of good information system is broader

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Send your semester & Specialization name to our mail id :

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