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MBA
OPERATIONS MANAGEMENT
SEMESTER
4
OM
0017 – ADVANCED PRODUCTION AND PLANNING CONTROL -4 CREDITS
(BOOK
ID B1342)
ASSIGNMENT-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.
Q1.
A large number of forecasting methods are available. Discuss the
categories/classification of forecasting methods.
(Opinion
and judgmental (Predictive) methods : Explanation- 0.5 marks; Methods under
this category- 4 marks, Time series methods or quantitative methods
Explanation- 0.5 marks; Methods under this category- 5 marks) 10 marks
Answer.
Classification of Forecasting Methods
A large number of forecasting methods are available.
Forecasting methods can be broadly divided into two categories namely:
a) Opinion and judgmental (Predictive) methods
Q2.
Explain how economic order quantity can be calculated by Model 1: EOQ with Uniform
Rate of Demand and Instantaneous Replenishment.
(Type
of model and how it is developed-1 mark; Assumptions of the model – 2 marks;
Graphical representation of the varying inventory level with time (along with
explanation)- 3 marks; Formulae for(Total annual inventory cost, Total annual
ordering cost ,Total Annual Holding Cost)- 2 marks; Determination of EOQ for
Model 1 – 2 marks) 10 marks
Answer.
Types of Models: An appropriate
inventory model can be selected through the new classification system. The
classification of inventory models is based on the salient features of
inventory. This system of classification enables practitioners to understand
inventory models and choose the best model for a given set of inventory
conditions. Various
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Q3.
The priority rule is a systematic procedure for assigning priorities for
awaiting jobs. The common problem faced in most of the companies is assigning
priority with respect to the job on hand for production. When there is a set of
orders to be executed, the question of prioritizing arises. Priority rules give
the solution to the priority problems faced by companies. Explain in brief
about priority rules for scheduling? (Major criteria for selecting priority
rules- 1.75 marks; classification of priority rules – 1.25 marks; definition of
major criteria rules- 4.5 marks; definition of priority criteria rules – 2.5
marks) 10 marks
Answer.
Following
are the major criteria for selecting priority rules:
·
Set
up costs.
·
Idle
time of machine and labor.
·
In-process
inventory.
Q4.
A Flexible Manufacturing System (FMS) is a manufacturing system comprising a
set of similar and/or corresponding numerically controlled machines, which are
connected through an automated transportation system. What are the fundamental
building blocks and benefits of FMS?
(Workstations.(explanation
and list of various workstations) – 2 marks; Automated Material Handling and
Storage system.(explanation and functions) – 2 marks; Computer Control
System.(explanation and functions) – 2 marks; Potential benefits (tangible and
intangible) of establishing FMS- 4 marks) 10 marks
Answer.
Fundamental Building
Blocks/Elements of FMS
Before discussing the fundamental building blocks of FMS, let
us discuss about the number of machines which an FMS consists. FMS consists of
more than one machine. Many of these machines, which are of CNC type, operate
under integrated computer control. The
various equipments and their functions required for FMS are:
Q5.
Supply chain management is essential for the success of every company and to
satisfy customer demand. Supply chain management plays a critical role in the
success of the company. Supply chain management is equipped to deal with
anything from flow of products to unexpected natural disasters. Supply chain
management diagnoses the problem and innovatively works around the problems.
Explain the impact Supply chain management has on business.
(Explanation
of impact on business Reduce operating costs – 3 marks; Improve financial
position- 3 marks ; Boost customer service – 3 marks; conclusion -1 mark) 10
marks
Answer.
The
impact supply chain management has on
business:
Supply chain management is essential for the success of every company and to
satisfy customer demand. Supply chain management plays a critical role in the
success of the company. Supply chain management is equipped to deal with
anything from flow of products to unexpected natural disasters. Supply chain
management diagnoses the problem and innovatively works around the problems. It
helps in bringing out an effective solution for various problems in
production. Supply chain management has
the following
Q6.
Quality Planning is defined as a “Systematic process that translates the
quality policy into measurable objectives and requirements, and lays down a
sequence of steps for realizing them within a specified timeframe.” Explain the
elements associated with quality plan. (Explanation of: What needs to be
checked? – 2 marks; What is the most suitable way to check? - 2.5 marks; When
should the check be carried out? – 2 marks; Who should be involved in the
checking?- 1 mark; What quality materials should be used?- 2.5 marks) 10 marks
Answer.
Quality Planning
Quality Planning is defined as a “Systematic process that
translates the quality policy into measurable objectives and requirements, and
lays down a sequence of steps for realizing them within a specified
timeframe.” Any quality plan will have
the following elements associated with it.
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