KSOU - OPERATIONS MANAGEMENT

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OPERATIONS MANAGEMENT
EMB 108

Answer any five questions

Q. 1. What are the Operations Management Decisions?

Answer:Operations management is an area of management concerned with overseeing, designing, and controlling the process of production and redesigning business operations in the production of goods or services. It involves the responsibility of ensuring that business operations are efficient in terms of using as few resources as needed, and effective in terms of meeting customer requirements. It is concerned with managing the process that converts inputs (in the forms of raw materials, labor, and energy) into outputs (in the form of goods and/or services). The relationship of operations management to senior management in




Q. 2. Explain Causal forecasting models.

Answer:Forecasting is the process of making predictions of the future based on past and present data and analysis of trends. A commonplace example might be estimation of some variable of interest at some specified future date. Prediction is a similar, but more general term. Both might refer to formal statistical methods employing time series, cross-sectional or longitudinal data, or alternatively to less formal judgmental methods. Usage can differ between areas of application: for example, in hydrology, the terms "forecast" and "forecasting" are sometimes reserved for estimates of values at certain specific future times, while the term "prediction" is used for more general estimates, such as the number of times floods will occur over a long period.





Q. 3. Explain Techniques to study current process and proposed changes.

Answer:

Q. 4. Explain calculating a load-distance score

Answer:The load-distance method is a mathematical model used to evaluate locations based on proximity factors. The objective is to select a location that minimizes the total weighted loads moving into and out of the facility. The distance between two points is expressed by assigning the points to grid coordinates on a map. An alternative approach is to use time rather than distance.

DISTANCE MEASURES
Suppose that a new warehouse is to be located to serve Delhi. It will receive inbound shipments from several suppliers, including one in Ghaziabad. If the new warehouse were located at Gurgaon, what would be the distance between the two facilities? If shipments travel by truck, the distance depends on the highway system and the specific route taken. Computer software is available for calculating the actual mileage between any two locations




Q. 5. Explain Production order quantity model

Answer:A production planning model with stochastic demand, constant defective rate and capacity constraint is developed to analyse the production problem of a chocolate milk manufacturer. The model is proven to possess an optimal solution under the given conditions. An optimal production plan is established for the firm, which is shown to be superior to the present production plan. The sensitivity analysis performed on the optimal solution provides useful insights on the inventory control and capacity requirement decisions of the firm.

Economic production quantity (EPQ) is the quantity of




Q. 6. What is Supply -chain management?

Answer:Supply chain management (SCM) is the management of the flow of goods and services. It includes the movement and storage of raw materials, work-in-process inventory, and finished goods from point of origin to point of consumption. Interconnected or interlinked networks, channels and node businesses are involved in the provision of products and services required by end customers in a supply chain. Supply chain management has been defined as the "design, planning, execution, control, and monitoring of supply chain activities with the objective of creating net value, building a competitive infrastructure, leveraging worldwide logistics, synchronizing supply with demand and measuring performance globally."

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