PROGRAM
MBA - SEMESTER III
SUBJECT CODE & NAME OM 0010 - OPERATIONS MANAGEMENT
1. Define the Concept of
Operations Research. What are the elements of operations management?
Concept of
Operations Research
Operations research is an approach that focuses on
recommending the best course of action
for solving the operational problems of an organisation. It provides
a quantitative aid
to the decision-making process
of an organisation and enables managers to select
the best course of action from the available
alternatives. Some of the popular
definitions of operations research are as follows:
According to the Operations Research Society, UK, “Operations
Research is the application of the methods
of science to complex problems arising in the
direction and management
of
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2. Explain the
concept of forecasting.
Also Elaborate the
steps involved in the
forecasting process.
Concept of
Forecasting
One can define
forecasting as a
mechanism that is
widely used in organisations.
It is a planning tool that helps organisation to cope with future uncertainties
by using the
past and present
data. The basic
purpose of forecasting is given as follows:
·
Assists the
management in planning
for future based
on certain assumptions
·
Helps in scheduling the work
based on certain estimates
·
Assists the management in
anticipating the actions that are
required to be undertaken during the period of
contingency
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3. An organisation has three
production centres P1, P2 and P3 that supply products to four warehouses
W1, W2, W3
and W4. The monthly production
capacities of the
three production centres
are 160, 150
and 190 units,
respectively. The monthly
demand of warehouses is 80, 90, 110 and 160 units,
respectively. The transportation cost per unit
(in rupees) is shown in following Table
1. How many
units should an
organisation supply to
warehouses so that
the total transportation cost is minimised?
2. Calculate Total Transportation Cost
Answer:
1. Construct
the transportation cost matrix table, which is as follows:
Availability = 160+150+190=500
Requirement = 80+90+110+160=440
In the given case, the total supply exceeds the total
demand by 60 (500 -440) units. Therefore,
an additional column
(W5) would be
added with a zero cost element, as shown in below table:
Table : - Addition of a Dummy Column
|
Warehouses :
Production
Centres
|
W1
|
W2
|
W3
|
W4
|
W5
|
Availability
|
|
|
P1
|
10
|
12
|
8
|
15
|
0
|
160
|
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4. Explain the
following criterions that
a decision maker
may adopt under
uncertain conditions.
a. Maximax Criterion
b. Maximin Criterion
c. Minimax Regret Criterion
d. Realism Criterion
e. Insufficient Reason Criterion
a. Maximax Criterion: - It is the criterion in which a
decision maker selects the alternative
that provides the maximum payoff. This criterion is based on the assumption
that all available
alternatives would provide
the best possible outcome. Maximax criterion is a strategy that
maximises the maximum gain. The maximax
criterion is also
known as the
optimistic criterion or
rule of optimism.
Following are the steps under the maximax criterion:
1. Determine
the best outcome for each alternative.
2. Select the
alternative associated with the best of these.
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5. Solve the assignment problem
shown in the following table:
|
|
1
|
2
|
3
|
4
|
|
A
|
15
|
9
|
14
|
22
|
|
B
|
12
|
10
|
20
|
17
|
|
C
|
7
|
8
|
6
|
9
|
|
D
|
20
|
16
|
17
|
18
|
Also determine the total assignment cost.
Answer:-
Conduct row
and column operations
as the assignment
problem is balanced. The
row operations involve
selecting an element
having a minimum value in each
row starting from row A and subtracting that element from all other elements in
that row. After completing row operations, follow
the same procedure for
columns, as shown in the following table:
ROW OPERATION
|
|
1
|
2
|
3
|
4
|
|
A
|
6
|
0
|
5
|
13
|
|
B
|
2
|
0
|
10
|
7
|
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6 Elaborate the
replacement of equipment
that deteriorates with
time. What are
the limitations of replacement
models?
Replacement of
Equipment that Deteriorates with Time
When the operational efficiency of equipment goes on decreasing with the gradual passage of time, it is economical to
replace the same with a new one. The
replacement decisions for such equipment are taken based on the economic life cycle and monthly or annual
operating costs of the equipment.
These
costs increase with
time, while the
salvage value of
equipment reduces
with time. To replace the equipment whose efficiency reduces with time, the simplest replacement method is used.
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PROGRAM - MBA -
SEMESTER - IV
SUBJECT CODE & NAME - OM0011 - ENTERPRISE RESOURCE PLANNING
1. Define Enterprise Resource
Planning (ERP). Briefly explain the major benefits of an ERP system.
Enterprise Resource Planning
ERP is an information
system that controls and integrates all the business functions of
an organisation. It
is a multi-module
application that integrates
the activities of different
departments, such as
production, finance, human resource and marketing.
According to Deloitte
Consulting, “ERP is a packaged business software system that enables a
company to automate and integrate the majority of its business processes;
share common data
and practices across
the enterprise; and produces
and access information
in a real-time environment”.
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2. Write short notes on the
following:
a. Decision Support System (DSS)
b. Executive Information System (EIS)
c. Customer Relationship Management (CRM)
d. Management Information System (MIS)
Decision Support System (DSS)
You make a number of
decisions in your everyday life; for example, what to cook
for breakfast? What
to wear for
office? Similarly, organisations
also need to make certain decisions to carry out their operations smoothly. The decisions
made by organisations
usually involve huge
cost. One right decision can
lead to the
remarkable growth of
an organisation, while
a wrong decision
can ruin the
business completely.
Therefore,
business decisions are
considered to be
highly critical. In
order to make
effective
decisions,
an organisation requires timely and accurate information. DSS is an interactive
information system that provides substantial support to managers while
taking critical business
decisions. It is
a
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3. Explain the different phases of
an ERP implementation life cycle.
The different phases of the ERP implementation lifecycle are as follows:
1. Pre-evaluation screening: - Pre-evaluation screening
is the first
phase of the
ERP implementation
lifecycle. It includes examining all the
available ERP systems. Among these systems,
those that are
able to meet
the organisation’s requirements
are selected.
2. Package
evaluation: - The package evaluation phase involves a deep analysis
of all the shortlisted ERP systems in
order to select
the final system.
It is the
most important phase as
the success of
ERP implementation highly
depends on the selection of the right
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4. Explain the
role of manufacturing
and production planning
module of an ERP
system. Briefly explain the sub-modules
of the manufacturing module.
Role of Manufacturing
and Production Planning
Module of an
ERP system
An ERP
system integrates the activities of different departments of an
organisation such as manufacturing, marketing,
accounting, and human
resource. The manufacturing
and production planning module of
an ERP system helps an organisation plan and
perform its production
activities effectively by
providing accurate and timely information. Some of these
activities include MRP, shop-floor control, inventory
management, and capacity planning. The
manufacturing and production
planning module of
an ERP system integrates all the
software and hardware used for performing manufacturing activities. Moreover, the
module helps in reducing paperwork, design cost, lead time,
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5. Explain the role of ERP in
sales and distribution. Briefly explain the sub-modules of the sales and
distribution module.
Role of ERP in Sales and Distribution
These products
and services are passed
through an extensive distribution network before they reach the end users.
This distribution network
involves wholesalers, retailers,
and commission agents. An
effective distribution network helps in delivering the right
product to the right customer at the right time. This ultimately helps in increasing the sales and profit of an
organisation.
To achieve
higher sales volume
and profit margins,
most organisations implement
an ERP system
with sales and
distribution functionality. The sales and
distribution module of an
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6. Define the role of vendors and consultants in ERP implementation.
Role of a vendor
A vendor
provides ERP systems
to client organisations
as per their
requirements at a
mutually agreed price.
Generally, a contractual agreement is
signed between a
vendor and a
client organisation. This agreement states
all the terms
and conditions related
to the system’s functions, level of quality, price,
and performance. After an ERP
system is purchased
by an organisation, a team
of experts (vendor) need
to install the
system and ensure
its operational efficiency. Most of the vendors appoint a
liaison officer to keep track on the activities of this team of experts. Apart from this, the team
is responsible for providing
training to the organisation’s employees, so that they can learn about the
functionality of the ERP system. Generally, this training is provided to the
key users of
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PROGRAM - MBA - SEM - 3
SUBJECT CODE & NAME - OM0012 SUPPLY CHAIN
MANAGEMENT
1. Explain the different modes of transportation.
Modes of Transportation
The movement of goods
from one place to another within a supply chain is known as transportation. It starts
from the beginning of a supply chain and ends
when the product
reaches the hands
of the customer.
With the increasing globalisation
in supply chain
and growth of
e-commerce, the importance of
transportation has grown tremendously. This is because the supply of
products is now
needed for distant
places. And transportation decisions in a supply chain affect the profitability and
influence both facility and inventory decisions within a supply chain.
The
mode of
transport consists of the
type of transport used.
Each mode has different characteristics, and
the best in
any particular circumstances depends on the type of goods to
be
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2. Explain the factors influencing
the network design decisions in supply chains.
Factors Influencing Network Design Decisions
Network design
of supply chain
provides a strategic
way to capture
the dependencies between
various operational units.
The constant review
of network design helps a firm to
reconsider the various benefits and trade-offs associated with different sites. Making
decisions on the location of facilities and
the selection of suppliers allows a firm to restructure their supply chain to further maximise profitability.
The factors
that influence network design decisions in supply chains can be categorised as
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3. What are the external factors
that produce impact on the purchasing strategies?
External Environment and Purchasing Strategies
With day-to-day
purchasing activities, you
sometimes fail to
consider how the function
would perform in the future.
There are many external impacts on the availability
and cost of raw materials and resources. The inventions of new
technologies and products,
changes in the
market conditions, changes within the purchaser’s company, and so
on impact the purchasing process.
Purchasing
strategy defines goods and services that can be purchased with a
specified amount of
money. It is
an important economic
consideration while evaluating
cost and standard of
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4. Explain the methods used to
create effective forecasts.
a. Judgement method
b. Market research method
c. Time-series method
d. Casual method
a. Judgement method
Judgement method – In this method, we consider
expert’s opinions while creating the
forecasts. The method
is primarily subjective
and relies on human judgement. For example, sales persons are
aware of the expected sales. Hence,
consulting them will
help create effective
forecasts. The method is more appropriate when there is a
little historical data available or when
the experts have enough market intelligence.
b. Market research method
Market
research method –
This method makes
use of market
testing or market surveys to understand the behaviour of
the consumers. A thorough market
research helps in
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5. Write a short note on
centralised versus decentralised control in supply chain integration.
Centralised versus decentralised control
The supply
chain system is
said to be
centralised when the
top management level
of supply network
is owned by
a single entity.
The decisions under
centralised system are
made at a
central level of
supply network. The objective
of centralised system
is to minimise
the cost associated with it for satisfying the
service-level requirements of customers.
This objective
can be met when the centralised system has many different sub organisations. This
indicates that the centralised
control leads to global optimisation. The
supply chain system
is said to
be under decentralised control when all the sub organisations have
the
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6. Trace the latest development in
electronic procurement and explain its benefit.
Latest development in electronic procurement
Over the
past 20 years
e-procurement has seen
success as well
as challenges. Due
to the advancement
in internet, many
companies are offering
B2B services. It
contains services like
catalogue management, hosting of databases, handling tenders and
auctions on behalf of clients. For instance, customised
software like ERP
eliminates manual work
of
preparing and submitting big
tenders.
E-Procurement developments in the private sector
In private
sector, some companies serving the oil and gas, pharmaceutical and mining industries have adopted
e-procurement. Some companies even offer full
range of supply
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PROGRAM
MBA - SEMESTER III
SUBJECT CODE & NAME OM 0013 – ADVANCED PRODUCTION AND OPERATIONS MANAGEMENT
1. Differentiate between
the concept of
production management and
operations management.
Concept of Production and Operations Management
POM is the
process of using resources of
an organisation to
produce requisite goods
and services, in accordance with the policies of the
organisation. Let us study this process with the help of an example.
In
hospitals, recovery of a patient will be considered as a process. This is because it includes the use of resources or
inputs, such as doctors, nurses, and
medical equipment for producing an
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2. Explain the meaning and
characteristics of a product.
Meaning and Characteristics of a Product
Product refers to a
goods or service that satisfies the
needs and wants of customers. It is
offered in the market by an organisation to earn revenue by meeting
the requirements of
customers. Product is
an asset of an organisation and referred to as the backbone
of marketing mix.
According
to Peter Drucker, “Suppliers and especially manufacturers have market power because they have information
about a product or a service that the
customer does not and cannot have, and does not need if he can trust the brand. This explains the
profitability of
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3. Define the Process of
Production Planning and Control
Process of Production Planning and Control
The process of production
planning and control is a systematic approach to enhance
the overall production
process of an
organisation.
Planning phase:
Planning is considered an efficient forecasting tool, which states
how the objectives can be achieved and how a particular requirement can be fulfilled in the future. It has two
categories of planning, namely the prior
planning and the active planning, which are described as follows
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4. What do you understand by the
term ‘inventory’? Explain various types of inventories.
Concept of Inventory Management
As we all
know, we
preserve eatables in the form of either raw materials or half cooked dishes, which can be cooked later.
Some of these items can be stored for
longer time periods, whereas some of these are not that durable and can only be stored for a relatively
shorter period of time. The materials that
can be stored for future use are
collectively known as
inventory. The term
inventory refers to the physical stock of items kept by an organisation for future
use. Gareth and
Silver (1973) defined
inventory as “an
idle resource of
any kind that
possesses economic value. It
includes physical goods,
stock, pile of
managerial and
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5. Explain the Process of Quality
Control.
Process of quality control
Quality control is a
systematic approach to control various factors that affect the quality of products. It involves a number
of steps, which are as below :
1. Controlling engineering
quality: It refers
to the first
step of quality control,
in which product
specifications are developed.
This step involves various sub-steps, which are as
follows:
a. Evaluating customer requirements to have a
clear understanding of product quality
objectives
b. Reviewing
product design documents
for conforming to
design standards
c. Validating the accuracy of design proof tests
d. Auditing the release and distribution of
design documents
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6. Write short notes on the
following:
a. Alfred Weber’s theory of
industrial location
b. Influence of government on
industry location
c. Objectives of an effective
plant layout
d. Factors affecting a plant
layout
a. Alfred Weber’s theory of
industrial location
Alfred Weber, a German
economist, attempted to analyse
the factors that influence industrial
location. Before Weber,
another German economist Launhardt gave the simple principle of
industrial location based on minimum transport
cost. Weber followed Launhardt's principle in his theory and made it more rigorous and analytical.
Ever since then, his theory is being used in practice.
Weber's
main interest was to construct a general theory of location which could be applied to all industries at all
times. He based his study on general factors
of locations relevant to the
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