MB0044 - PRODUCTION AND OPERATION MANAGEMENT

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ASSIGNMENT

DRIVE	SPRING 2016
PROGRAM	MBADS/ MBAFLEX/ MBAHCSN3/ MBAN2/ PGDBAN2
SUBJECT CODE & NAME	MB0044 - PRODUCTION AND OPERATION MANAGEMENT
SEMESTER	2
BK ID	B 1627
CREDITS	4
MARKS	60

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

Question.1. Write Short notes on

a. Phases of Operations Strategy

Answer:All companies go through a life cycle that progresses through different stages. Common strategies are employed at each phase of an organization's life, as the business goals of companies in the same life stage can often be fundamentally similar. Familiarizing yourself with the various strategy phases for an organization can help you to design an ideal strategy that fits your company's current life stage.

b. Operations Strategy as a Competitive Weapon

Answer: In the face of global competition, many Indian manufacturers suffered declining sales, market share, and profitability, during the early 1990s. One of the main reasons for this decline was the ineffectiveness of the operations strategy. Managers now realize the significance of operations strategies and are using them as competitive

c. Strategic Importance of Forecasting

Answer:Companies use strategies to reach their goals. One of the key elements of a company's operations is forecasting what goals are realistic, and to what extent the company will achieve them. Strategic forecasting links the two functions, adjusting forecasts to support strategic goals, and employing operating strategies to ensure that

Question.2. Explain following Rating methods

a. Factor rating method

Answer: This method involves qualitative and quantitative inputs, and evaluates alternatives based on comparison after establishing a composite value for each alternative. Factor Rating consists of six steps:

·         Determine relevant and

b. Point rating method

Answer:Human resources managers evaluate jobs at companies to help place them into the organization chart, determine the qualifications needed to fill those jobs, assign titles, and help set appropriate benefits and compensation levels. To determine whether a job is a staff-, coordinator-, manager- or director-level position, for example, the HR person conducting the evaluations will apply specific criteria, awarding points on a sliding scale.

c. Break-even analysis

Answer:A break-even analysis is an analysis to determine the point at which revenue received equals the costs associated with receiving the revenue. Break-even analysis calculates what is known as a margin of safety, the amount that revenues exceed the break-even point. This is the amount that revenues can fall while still staying above the break-even point.

d. Centre of gravity method

Answer: This technique is used in determining the location of a facility which will either reduce travel time or lower shipping costs. Distribution cost is seen as a linear function of the distance and quantity shipped. The Center of Gravity Method involves the use of a visual map and a coordinate system; the coordinate points being treated as

Question.3. Describe following dimensions of quality with appropriate examples.

a. Quality of design

Answer:Quality of design is the quality which the producer or supplier is intending to offer to the customer. When the producer is making the quality of design of the product, he should take into consideration the customer's requirements in order to satisfy them with fitness for use of the product.

b. Conformance to design

Answer:Quality of conformance is the level of the quality of product actually produced and delivered through the production or service process of the organization as per the specifications or design. When the quality of a product entirely conforms to the specification (design), the quality of conformance is deemed excellent.

Specifications are targets and tolerances determined by the designer of a product. Targets are the ideal values for which production is expected

c. Utilisation conditions

Answer:Protection of your privacy and your personal data is very important to us. With the help of this Data Protection Declaration we want to make our data protection measures transparent to you.

Recording and processing of personal data: When you visit website, web server automatically stores the IP address which was assigned to you

d. After sales service

Answer:After sales service refers to various processes which make sure customers are satisfied with the products and services of the organization.

The needs and demands of the customers must be fulfilled for them to spread a positive word of mouth. In the current scenario,

Question.4. Project management can be considered to have following five dimensions which are necessary to be managed. Explain.

Answer:Project management is the discipline of initiating, planning, executing, controlling, and closing the work of a team to achieve specific goals and meet specific success criteria. A project is a temporary endeavor designed to produce a unique product, service or result with a defined beginning and end (usually time-constrained, and often constrained by funding or deliverables) undertaken to meet unique goals and objectives, typically to bring about beneficial change or added value.The temporary nature of projects

Question.5. Explain the risk management and its various components

Answer:Risk management is an essential part of any project plan and project implementation. Without a thorough knowledge of possible risks, a project cannot be authorized. There are always risks at stake which could no doubt benefit the project, but could also jeopardize the project and incur huge monetary losses. The most effective steps in a risk management plan are outlined here.

Question.6. Why redesign of layouts may be necessary? List the differences between product and process layout.

Answer: Facility layout and design is an important component of a business's overall operations, both in terms of maximizing the effectiveness of the production process and meeting the needs of employees. The basic objective of layout is to ensure a smooth flow of work, material, and information through a system. The basic meaning of facility is the space in which a business's activities take place. The layout and design of

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