Monday, 12 February 2018

ISBM Subject : Operations Management

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Name : Leema Noori                                                                                                       Marks : 80
Course : Bachelors in Management Studies (BMS)
Subject : Operations Management

Answer the following question.


Question. 1. List the types of quality costs. (10 marks)

Answer: A product that meets or exceeds its design specifications and is free of defects that mar its appearance or degrade its performance is said to have high quality of conformance. Note that if an economy car is free of defects, it can have



Question. 2. How does productivity measurement differ between manufacturing and service operations? (10 marks)

Answer: Service and manufacturing operations have differences, but also similarities. For example, both create mission statements and a vision for how the organization will be run and perceived by customers. Each provider or manufacturer wants to lead the market in its specific industry. However, manufacturing and service operations answer different questions and formulate different strategies when it comes to planning and managing the way in which an organization is run.

Characteristics: Manufacturing operations produce tangible goods,



Question. 3. List four basic operations strategies. (10 marks)

Answer: Process strategies are interventions that are made to make the best out of a business using currently-available resources rather than outsourcing and having to spend more. It also entails higher quality assurance and better management.

i. The multi-domestic strategy decentralizes operating decisions to each country to enhance local responsiveness. The primary example from the textbook is McDonald's.
ii. The global strategy centralizes operating decisions, with headquarters coordinating the standardization and learning between facilities. The



Question. 4. What are the major decision areas in P/OM? (10 marks)

Answer: Many students are afraid of POM because they have been told it has quantitative material, or perhaps it is "about running a factory." What is your idea of POM? Well, the truth lies somewhere in between. And if you are one of these students, rest assured that your fears are misplaced. First, let's start with the definition of operations management.

Operations managers are responsible for producing the supply of goods or services in organizations. They make decisions regarding operations functions


Question. 5. What do you see as the main problem with qualitative (judgmental) forecasts? Are they ever better than “objective” methods? (10 marks)

Answer: Objective forecasting approaches are quantitative in nature and lend themselves well to an abundance of data. There are three categories of objective forecasting methods: time series, causal/econometric, and artificial intelligence.  AI approaches are outside my experience, so I won’t be covering them in this series, but mention them as another alternative, in case you wish to investigate them on your own.



Question. 6. Define the terms “Qualitative Methods”, “Trend Analysis Method (Time Series Method), and “Causal Forecast”. Describe the uses of them. (10 marks)

Answer: Qualitative Methods: Qualitative Research is primarily exploratory research. It is used to gain an understanding of underlying reasons, opinions, and motivations. It provides insights into the problem or helps to develop ideas or hypotheses for potential quantitative research. Qualitative Research is also used to uncover trends in thought and opinions, and dive deeper into the problem. Qualitative data collection methods vary using unstructured


Question. 7. A Turkish manufacturing company operating a subsidiary in TRNC shows the following results: TURKEY TRNC Sales (in units) 100.000 20.000 Labour (hours) 20.000 15.000 Raw materials (in MU) 20.000 2.000 Capital Equipment (hrs) 60.000 5.000
a. Calculate single factor productivity figures of labour and capital for the parent and subsidiary. Do the results seem misleading?
b. Now compute multi-factor labour and capital productivity figures. Are the results better?
c. Finally, calculate raw material productivity figures. Explain why these figures might be greater in TRNC. (10 marks)

Answer:

Sales (in units)
100
20
Labour (hours)
20
15






Question. 8. 3. A company has asked YOU to evaluate the firm’s productivity by comparing this year’s performance with last year’s. The following data are available: ______________Last Year This Year OUTPUT 10 500 units 12 100 units Labour Hours 12 000 13 200 Utilities 7 600 MU 8 250 MU Capital 83 000 MU 88 000 MU Has the company improved its PRODUCTIVITY during the past year?

Answer:
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Send your semester & Specialization name to our mail id :
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