OM 0010 - OPERATIONS MANAGEMENT

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ASSIGNMENT

DRIVE	SPRING 2016
PROGRAM	MASTER OF BUSINESS ADMINISTRATION (MBA)
SEMESTER	III
SUBJECT CODE & NAME	OM 0010 - 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.

Question.1. Write short notes on :

a. Origin of operations research

Answer:Operations research, or operational research in British usage, is a discipline that deals with the application of advanced analytical methods to help make better decisions. Further, the term 'operational analysis' is used in the British (and some British Commonwealth) military, as an intrinsic part of capability development, management and assurance. In particular, operational analysis forms part of the Combined Operational

b. Levels of Strategies in an Organisation

Answer:Strategy may operate at different levels of an organization -corporate level, business level, and functional level. The strategy changes based on the levels of strategy.

Corporate Level Strategy: Corporate level strategy occupies the highest level of strategic decision-making and covers actions dealing with the objective of the firm, acquisition and allocation of resources and coordination of strategies of various

c. Consumer Pricing Expectations Range

Answer:Consumer Pricing Expectations Range (CPER) is a term, which is commonly used in demand forecasting. This term has two aspects, namely, consumer aspect and producer aspect. From the consumer’s aspect, CPER implies that the consumer has an expectations range in case of pricing. Consumer forms opinion based on the price of the product. The expectations of the price depend upon various factors such as environmental factors, paying capacity of the consumer and the utility provided by the product. Hence, CPER means the price,

Question.2. Explain following Models of Operations Research

a. Iconic model

Answer:An Iconic Model is a look-alike representation of some specific entity

(e.g. a house)

Classification: Iconic Models can be represented in:

b. Analogue model

Answer:An Analogue Model is the representation of entities of a system by analogue entities pertaining to the model (e.g. through diagrams).

Classification

An Analogue Model can be built through:

- Two

c. Symbolic model

Answer:A Symbolic Model is the representation of entities of a system through symbols.

Symbols can be:

- mathematical

d. Descriptive model

Answer:Descriptive models are used to merely describe something mathematically. Common statistical models in this category include the mean, median, mode, range, and standard deviation. Consequently, these phrases are called "descriptive statistics." Balance sheets, income statements, and financial ratios also are descriptive in nature.

Question.3.Case Study: Services Operations Management at XYZ Restaurant.

Discussion questions:

1. What can be the reasons for the failure of XYZ restaurant in introducing French and Italian foods?

Answer:XYZ restaurant has been performing satisfactorily over the last 30 years. It opened its first outlet in the year 1980 in Pune, and since then it has grown to 1000 outlets in the mid-east Asia. In the year 2000, XYZ restaurant enjoyed the maximum footfall in almost all the nations it was present. By 2005, it added Italian and French food in its menu to compete with the established international

2. What strategies could have helped XYZ restaurant while introducing new services?

Answer:The nations of mid-east Asia did not welcome the change in the image of XYZ from local food chain restaurant to international restaurant. The customers found lower quality of French and Italian foods in XYZ than they used to get in other restaurants. The offering, delivery and image of XYZ could not match the new services and customers avoided to visit XYZ for Italian and French foods. The market of this restaurant was still favouring its local sense of cooking food. XYZ soon reverted to the earlier service operations and policies of local belongingness and thus recovered the

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

a. Maximax Criterion

Answer: This decision criterion is applied by the most optimist decision maker when he thinks optimistically about the happening of events affecting a decision. If this philosophy is followed, the manager will choose that alternative under which it is possible to receive the most favorable pay-off.

b. Maximin Criterion

Answer:This criterion is adopted by the most pessimistic decision maker. The manager believes that worst possible may take place. This pessimism causes the selection of that alternative which maximizes the least favorable pay-off. In table 3.2, the minimum pay-off for each alternative is as follows –

Centralization              Rs. 15 crores

Decentralization           Rs. 10 crores

The decision would be to centralize the distribution accordingly because it maximizes the minimum pay-off.

c. Minimax Regret Criterion

Answer:Minimax criterion leads to the minimization of regret. The managerial regret is defined as the pay-off for each alternative under every state of nature of competitive action subtracted from the most favorable pay-off which is possible with the happening of the particular event. When manager chooses an alternative and when a state of nature takes place which does not result in the most favorable pay-off, regret takes place. The manager is regretful that the alternative chosen did not lead to the best payoff. Because the

d. Realism Criterion

Answer:Realism payoff for alternative:

= a x (Maximum payoff for alternative) + (1 – a ) x (Minimum payoff for alternative)

Thompson Lumber company example: Thompson’s coefficient of realism (optimism) a = 0.45

e. Insufficient Reason Criterion

Answer:Three preceding decision ‘Criteria assume that without any previous experience, it is not possible or worthwhile to allocate any probability to the states of situation. In this case also, probability can be allocated though there is no criterion for allocating the probability. The situation is referred to as insufficient reason criterion or La Place criterion, or Bay’s postulate. In this criterion, equal probability is allocated to each event

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

Also determine the total assignment cost.

Answer:

10	12	9	11
5	10	7	8

Question.6. There are four jobs, namely D, E, F, and G, which need to be sequenced on two machines, namely machine 1 and machine 2. The processing time of the jobs D, E, F, and G on machine1 are 2, 6, 4, and 8, respectively. However, on machine 2, the processing time of D, E, F, and G is 3, 5, 7, and 4, respectively. Determine the job sequencing for this problem and Total flow time for four jobs.

Answer: When a number of jobs are given to be done and they require processing on two or more machines, the main concern of a manager is to find the order or sequence to perform these jobs. We shall consider the sequencing problems in respect of the jobs to be performed in a factory and study the method of their solution. Such sequencing problems can be broadly divided in two groups. In the first one, there are n jobs to be done, each of

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