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DRIVESPRING 2014
PROGRAMMBADS (SEM
3/SEM 5) MBAFLEX/ MBAN2 (SEM 3) PGDOMN (SEM 1)
SUBJECT CODE &
NAME-OM 0010 - OPERATIONS MANAGEMENT
BK ID-B1934
CREDITS & MARKS-4
CREDITS AND 60 MARKS
Q1. What are the
objectives of inventory management? Explain the types of inventory
(Explanation of
objectives, Explanation of types of inventory)5,5
Answer.
Objectives of
inventory management
Some other important objectives
of inventory management are as follows:
To gain an upper edge over the
competitors: Managing
an appropriate inventory assists organisations to maintain an upper edge over competitors.
Adequate inventory provides an edge to the nearest competitor, who does not
have an appropriate stock to meet customers’ demands.
Q2. Explain the
steps in engineering service process.
(Explanation of
steps in engineering service process) 10 (2.5 marks for each step)
Answer.
Steps in
engineering service process
Basically, designing service
processes requires a careful and detailed study about the various aspects, such
as customer requirements and company resources. The designing of service
processes is sometimes known as engineering service processes. The steps
required in the engineering of service processes are as follows:
Q3. Explain the
various types of demand.
(Explanation of
various types of demand) 10 (2 marks for each demand)
Answer.
Various types of
demand
The different types of demand are
discussed as follows:
Individual and market demand: Individual demand can be defined
as a quantity demanded by an individual for a product at a particular price and
within the specific period of time. For example, Mr. X demands 200 units of a
Q4. Define
operations strategy. What are the factors influencing operations strategy?
explain the types of operations strategy.
(Definition of
operations strategy, Description of factors influencing operations strategy, Explanation
of the types of operations strategy) 2, 4(1 mark for each factor), 4(1 mark for
each type of strategy)
Answer.
Operations
strategy
An operations strategy is a
process wherein the key operations decisions, which are in accordance with the
overall strategic objectives of an organisation, are made. These decisions can
be related to the selection of production technique and process, the extent of
manufacturing capacity and the type of products to be produced.
Q5. What is Markov
analysis? Give some important applications of Markov analysis.
(Explanation of
Markov analysis, Assumptions of Markov analysis, Characteristics of Markov
analysis, Important applications of Markov analysis) 1,2,3,4
Answer.
Markov analysis
Markov analysis is a technique
that is used to analyse the present behaviour of a variable and estimate its
future behaviour. The concept of Markov analysis was introduced by Andrei A. It
is a process that is characterised as
Q6. State the
factors influencing decision making.
(Description of
various factors influencing decision making(including clarification how each
factor influences decision making)10
Answer.
Various factors
influencing decision making
Decisions are taken after
considering many factors. The factors that influence the decision making
process are as follows:
The objective of decision making:
It is the basic
and the most crucial factor in decision making. If the objective is not well
defined or is not well set, then the entire exercise of decision making is a
waste.
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