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INDIAN SCHOOL OF TECHNOLOGY AND
MANAGEMENT
AN ISO 9001:2015 CERTIFIED INTERNATIONAL B-SCHOOL
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Name : |
Marks
: 80 |
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Course
: Masters in Business Administration (MBA 4 Sem) |
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Subject
: Quantitative Methods |
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Case
Studies
Multi
Criteria Decision Making
(20
Marks)
MCDA. (multi criteria
decision analysis) is considered to be one of the fastest growing research
operations in the la several years. The researcher focus towards MCDA led to
development of many different approaches and ways in t field. There are two
types of procedures: theoretical assumptions and decision addressed type. This
difference throw challenges to the prcedure of choosing the most ideal method
for the decision making problem. Most of the time, t initial approach towards
applying MCDA in the real world problems relates to the set up of simple
understanding Of t context and recognizing the problem of decision. This step
includes the ones• who make decisions and other importa participants who make
important contributions for the MCDA procedure by sharing their knowledge. The
common insig of the decision framework is received by knowing the goals of the
decision making body and recognizing not only tho people who make decisions but
also those who face the decision. • Dooley (2009) says that the first three
steps take more time in the process of MCDA, particularly because of their
qualitative features. Assigning of comparative significa weights to the
selected criteria is the next step: These weights can be ascertained directly,
for example ranking, swin trade off; or indirectly, for example- centrality,
regression and interactive. Later, the DM has to give individual score
considering his or her views, to each of the recognized options according to
the criteria which seem vital. These scor show the decision of DM . related to
spreading of each substitute to every performance standard. The information whi
is attained is maintained distinctively into performance template, which is
also as consequence matrix, options matrix, just decision table. The next
process includes abstract of the information consisting of the performance
matrix in t form of multi criteria scores, for every possible plan. Mostly,
this is attained by combining the individual scores of mat so that total
valuation of .each substitute which allows more comparison. The groups of
substitute ranked on the basis all these scores. Finally, the procedure can
include a warm evaluation of the outcome to amendments in the scores criteria,
to conclude the sturdiness of the result of MCDA. At the end, the analysis and
trade offs included in t respective choices are given to and conferred with the
DM. In many cases, the ultimate decision that DM takes, does n match with the
highest level of alternative, as they are more focused towards the process of
knowing the effect of ea and every factor in ranking of choices than in the
exactness of the ranking. Also, it should be observed that t generalizations
are not used to of the outcome given by the process of MCDA, and they only
appropriate for the group choices which were assessed.
Answer
the following question.
What role does MCDA play in decision making?
(Hint: MCDA is considered to be one of the fastest
Q1. growing research
operations, these scores show the decision of DM related to spreading of each
substitute to every performance standard)
Q2. What does MCDA stand for? (Hint: multi criteria
decision analysis)
(20
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at : 08263069601 Linear
Programming |
Marks) |
Lexicographic Goal
Programming is used to solve a series of Linear Programming Model. This
programming is us wen . a goal has to be attained on•priority basis. Revenue
budgeting is being used to decide budget instead of a speci system in budget.
Nevertheless, revenue budget lays emphasis on the rising limitation of revenue
while estimati budget. The decision makers are limited due to the rising power
of capital and also the awareness of imminent restrain and fear of capital
resources. The goal is to raise the salary and allowance of the workers,to cut
down the operati cost, to raise the revenue expenses, to raise the capital
generated internally, and the cut down the overall budget. Som of the problems
are: insufficient allocation of funds and income, and• absence of importance of
order. The insufficie allotment occurred as the quantitative allotment models
were not used with power. . It is seen that the allotment capital were not
being used in the right" way as a result the capital allotted to the labs
is drawn •in the maintenance hostel. Various other changes also happen. In fact,
the funds allotted to the tertiary organizations are more often n managed
properly. The University of Owerri suffered and the progress of the institution
came down. There is absence active teams for monitoring budget, and so the
budget can function in any manner. If the active teams to monitor budg were
present, the problem of mismanagement and the wrong use of it would come down.
Sundaram (1978) and L (1972) agreed that the various features of target
programming are, that it allows ordinal solution. According to Ign
(1978), this tactic called
Goal Programming, frequently symbolizes considerable progress in the modeling
and evaluati of the multi objective problems. This shows that this area lets
the systematic evaluation of a number of multi objecti problems which could
include linear or non linear operations in the incessant or separate variables.
This is mo successful in the research area. The goal programming developed due
to Charnes and Cooper, who suggested that t model and method for dealing with
some linear programming problems where the contradictory 'goals of manageme
involed as limitations. Goal programming method has been used for a number of
programs. Goal programmi technique has solved the following problems: planning
production in a ship repairing company, smoothing production 'just in time'
production atmosphere. The problem occurs when the model does not show the real
inclination of t decision maker. Non-inferior solution in some cases many not
be essentially better than the lesser solution mainly in t case of natural
resource problem.
Answer
the following question.
What are the problems while estimating the
budget? (Hint: insufficient allocation of funds and income,
Q1. and absence of importance
of order, The insufficient allotment occurred as the quantitative allotment
models were not used with power)
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Problem
of Transportation Routes
(20
Marks)
The N&C Bank in
Thailand is one of the biggest banks. There are 377 branches in Bangkok and 3
distribution cente Presently, it has experienced drivers who take to the
transportation routes. 27 vehicles are used on the 29 routes who capacity is
the same. Two of the vehicles do overtime with taking two trips each day. Some
of the problems faced N&S and formulated are: Each trip will begin from its
respective depot and end there. The route will remain the sam both morning and
evening. The travelling time taken between each branch is a known location and
correct. T company is aware of 'the demand for capital of each branch. Time of
processing for every stop is same. for each branc Some of the limitations of
this problem are: The volume of each vehicle is firmly implemented by the
insurance value p trip. Each branch's hours of functioning depends upon its
location. If the location is in the department store, then t working hours will
be from 11 am to 8 pin. If the location is anywhere else, the working hours
would be from 8.30 am 3.30 pm. The processing capacity of every depot or the
distribution center (DC) is diverse at the ratio of 50:30:20. Ea distribution
center works from 8.00 am to 5.00 pm. N&C aims at increasing the
transportation services along with t current resources. N&C has three
distribution centers which look after the picking up and delivery of cash to
and fro every branch each day at different timings. The most appropriate method
for this problem would be the multiple dep routing problems with time
limit.Nevertheless, the new routes can bring changes in everyday process, i.e.,
change requirements, processing time, etc, hence, N&C requires a method to
give results in a short time operations. Two ma methods are used. First, development
problem •is utilized. and capacitate VRPTW (vehicle routing problem with time)
utilized later. The assignment problem gathers 377 branches into 3 groups, with
each belonging to each distributi center and VRP'IW makes daily routes for each
distribution center. Consignment Problem method is used for giving t tasks to
the agents mating their positions, which can give a very competent result.
Vehicle rouong problem is the CVR (capacitate vehicle routing problem), a pr'
Herb where all its customers need to be satisfied, awareness of dumbfound and
identifying all vet-ides, constrained capacity and based at a central depot.
The aim is to reduce the fleet of \•vehicl and total commuting time at the same
time as, total requirement of goods for each route should not go beyond t
capacity of the vehicle which plies on that route. ":be most vital
expansion of CVRP is the vehicle routing problem w VRPTW (time window) which
should serve each customer with a particular time window.
Answer
the following question.
Q1. Write a short on the
transportation system of N&C bank. (Hint: it has experienced drivers who
take to the transportation routes. 27 vehicles are used on the 29 routes whose
capacity is the same,N&C has
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three distribution centers
which look after the picking up and delivery of cash to and from every branch
each day at different timings)
Q2. What does CVRP stand for? (Hint: capacitated
vehicle routing problem)
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Case
(20
Marks)
Due to the changing
requirements for the products, the inventory management has become a vital
compone particularly for the safety of the stock. The four eements for
evaluating the (J.f?.Ck safety ••• are: forecast requireme level of service,
start time and '!fie definite demand. The purpose of safety stock is to
safeguard against this probabili but the problem is more than the high safety
stock and the need can increase the operational costs. On the basis these
difficulties, the prediction needs to be exact so that the company can
ascertain the amount needed to be boug manufactured and shipped. For estimating
the forecast, the dual exponential smoothing model is f applied. With. the u of
exponential smoothing, calculation for both the average and the trend can be
smoothed. • Not just prediction, le time also is the main component for ,l
ascertaining the safety stock and aspects which can bring down the stock o
case. "Lead time is the time elapsed in between the receipt of customer
order until the delivery of finished goods to t customer". Some of the
issues of lead time are: demand, order of .quantity, product quality, reorder
spot, safety stoc and other price issues such as discount, permit shortage or
not, price rise and the value of time of money, and should considered in
deduction of lead time. On the basis of the stock out occurrences, there is an
issue which affects the cas Forecasting and re-order point also affect the
safety stock. When the safety stock reaches the right stage, the stock lev is
brought down. Nevertheless, forecasting influences the estimation of safety
stock, as the level of safety stock ascertained on the basis of forecasting
estimations. Not only this, the reorder point can ascertain the level of safe
stock.A stock out or pending orders is a state which the company experiences
for not meeting the requirements of t customer within the required time period.
Each month, PT.Combiphar acquired stock outs in very high levels and value
Research was done on CTS3 or Omtusi, since they have their quantity, rate and
value is very high. Comtusi Syrup is cough syrup which is produced by
PT.Combiphar, Padalarang, Indonesia. It is prepared for hospital purposes a
pharmacists, and comes in 60ml pack. The quantity of total stok out in 2012 was
1,390,698 units, and the total val was Rp 35,229,335. The total stock out
quantity of CTS3 is at the rate of 9%; the quantity is equal to 128,036 units.
T percentage of this product is 9.75% from the total value, which is Rp
3,424,963,000. Due to the above case of stock o the capital and total profit
came down. The above estimations show considerable difference in the profits
because stock out case. The company did not face any loss, but the profits came
down. Because of stock out in 2012, the loss Rp 1, 888,383,500 was seen by the
company. According to the above evaluation, it is clear that the company had to
fa the dilapidated profits because of stock out condition.
Answer
the following question.
Q1.
Q2.
Write a short
note on Forecasting, Re-Order Point and Safety Stock Level at PT. Combiphar,
Indonesia. (Hint: The four elements for evaluating the stock safety are:
forecast requirement, level of service, start time and the definite demand, The
purpose of safety stock is to safeguard against this probability, but the
problem is more than the high safety stock and the need can increase the
operational costs)
Which cough syrup does PT.Combiphar make? (Hint: comtusi)
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