OPERATION MANAGEMENT

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SUB: OPERATION MANAGEMENT

N.B.: 1) Attempt any Eight Questions

2) All questions carries equal marks.

Operations Management

Q1 How would operations strategy for a service industry be different if any from that for a manufacturing industry ?  (Its an example & explain)

Answer : Consider that any manufacturer could incorporate (bring inside) any service endeavor and add that service to it's portfolio, either for internal use or for sale. Alternatively, another manufacturing model is to outsource all work efforts to design and build product where ultimately the holding company merely owns the rights and the profits of the venture. The manufacturing model must provide a horizontal spectrum of work efforts in support of the product-life-cycle within the company community. 

Q2 Consider the following two mutually exclusive projects.  The net cash flows are given below If the desired rate of return is 10% which project should be chosen ?

Answer :  If we apply the NPV criterion, and risk adjusted discount rates, we have

Some definitions:

Net Present Value:

                            CF1           CF2             CF3            CF4 

NPV =   - CFo + --------- + ---------- + ---------- + ----------

                         (1 + r)^1     (1 + r) ^2     (1 + r) ^3   (1 + r) ^4 

Q3 What are the levels of aggregation in forecasting for a manufacturing organization?  How should this hierarchy of forecasts be linked and used ?

Answer :  In demand planning terminology, Forecast Reconciliation is also referred to as Bottom-up and Top-down Forecasting or Proportional Forecasting. Forecast Reconciliation, however, could also stand for reconciling the demand forecast with a modeled forecast vs. a judgmental forecast or a financial forecast.

we can reconcile a top-down forecast and Bottom-up forecast through aggregation and disaggregation methodology. The second title is more direct in

Q4 How would forecasting be useful for operations in a BPO (Business processes outsourcing) unit ?  What factors may be important for this industry ?  Discuss .

Answer :  Forecasting would be very important for operations in a BPO unit. Forecasting, in essence, makes for the ability to be proactive, intuitive and strategic, and it may very well be the differentiating factor between success and failure. You can have cash-flow forecasts, operating budget forecasts, call/e-mail/chat volume forecasts, forecasts for attrition and absenteeism of

Q5 A good work study should be followed by good supervision for getting good results.  Explain with an example.

Answer :  In fact changing the order of the question can make that more of the answer -- i.e. Good supervision leads a good work study to get good results. I'll relate a personal experience.

In one of the companies try to identifying the major problems, it was discovered that one of the biggest problems was determining from the individual

Q6 What is job evaluation ? Can it be alternatively used as job ranking ?  How does one ensure that job evaluation evaluates the job and not the man ?Explain with examples ?

Answer :  Job evaluation, in my experience, is used to measure the relative 'size' of jobs - which would indeed then enable them to be ranked within a pay and grading structure. It is a good way for an organization to minimize risk of equal pay claims as it is able to

Q7 What is the impact of technology on jobs ?  What are the similarities between job enlargement  & job rotation ?  Discuss the importance of training in the content of job redesign ?  Explain with examples ?

Answer :  Technology's hold on the modern workplace cannot be seriously disputed. Since work stands at the core of vocationalism, few issues are as important to vocational educators as technology. As indicated earlier, technology might be a unifying theme in the

Q8 What is an internet connectivity ?  How is it important in to days business would with respect to materials requirement planning & purchasing.  Explain with examples ?

Answer : "Internet connectivity" in the simplest terms means connection to the internet; having a live website, being able to access/surf the web. 

The internet has a global reach and millions of businesses around the world take advantage of that by maintaining and advertising their own little space on it -- their website. A website can be an informational tool, a marketing tool, an order processing tool, investor

Q9 Would a project management organization be different from an organization for regular manufacturing in what ways.  Examples.

Answer :  A project management organization starts with the projects and ends with the project. Maybe the same people will start another project, maybe some of them will be different, but they do not belong to the original project because it's finished. 

A manufacturing organization works normally with programs, tasks that never end. Let me put you an example: Suppose you are going to manufacture T-shirts,

Q 10 How project evaluation different from project appraisal?  Explain with examples.

Answer :  Appraisal and evaluation are essential parts of good financial management. The general principles should apply to any proposal - whether project, programme or policy related - with implications for expenditure / use of resources.

The effort that should go into appraisals and evaluations and the detail to be considered is a matter of judgment.

 Appraisal involves the preparation of Pre-Expenditure Assessments (PEAs). PEAs must be undertaken for any proposal with significant resource implications.

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