FALL-2015 Get solved assignments at nominal price of Rs.125 each. Visit www.instamojo.com/subjects4u search for your code pay and download fully solved assignments. Any issues mail us at: [email protected] or contact at 09882243490 Master of Business Administration - MBA Semester 3 OM0013-Advanced Production and Operations Management (Book ID: B1935) Assignment (60 Marks) Note: Answer all questions must be written within 300 to 400 words each. Each Question carries 10 marks 6 X 10=60 Q1. Write short notes on:     World class manufacturing concept Job analysis method of improving productivity Siddal’s classification of design approaches Expert opinion poll Answer. World Class Manufacturing Concept: Have you wondered why all organisations aim for customer satisfaction? Each and every organisation aims to achieve maximum profits. In case of manufacturing organisations, this becomes even more important because they manufacture their products on their own. All manufacturing organisations strive to satisfy their customers in terms of quality, delivery, and cost of the product. Organisations deploy World Class Manufacturing (WCM) techniques and methodologies to achieve the objective of satisfying the needs of their customers. The concept Q2. Differentiate between infinite and finite loading. Explain sequencing. Mention the rules of sequencing. Answer. Finite loading: It refers to the type of loading in which jobs are allocated among different work centers, based on the capacity of each work centre and on the basis of the time required to perform the jobs individually. Finite loading begins with preparing a list of jobs to be processed at the work centers and with the specified capacities of each work centre. In this way, it involves developing a comprehensive schedule for individual jobs and work centers, considering their individual capacities. Q3. Write short notes on:  Alfred Weber’s theory on industrial location  Relationship between design capacity , system capacity and actual output  Aggregate planning process  Approaches to updating MRP Answer. 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 Q4. What is purchasing? Briefly explain the purchasing procedure. Answer. Purchasing: In simple terms, purchasing refers to an act of procuring a product at a specific price. However, this narrow definition of purchasing has widened in the last 70 years. In a broader sense, purchasing is a managerial activity that aims at getting the different departments of an organisation the right materials at the right time in the right quantity from the right source as and when required. Q5. Inventory Management at ABC organization ABC is an organization that procures a product PQ from another organisation. ABC requires 11,000 units of PQ every year. The cost of the product is Rs.5 per unit and its ordering cost is estimated to be Rs.100 per order. The cost of carrying inventory is 25%. The consumption rate of PQ in the organization is uniform. Therefore, ABC needs to spend a huge amount on the procurement of product PQ. The CEO of ABC called the production manager of the organization to discuss whether the manufacturing of the product PQ would be more economical for the organisation. The production manager conducts a research and identifies equipment that can be used for producing PQ. This equipment can yield 100 units of PQ per day. The cost of producing a single unit of PQ by using the equipment is Rs.3.50 per unit. In addition, the setup cost of equipment and inventory carrying costs are Rs.50 per setup and 25%, respectively. From the preceding data, it is found that the production of product PQ would be more beneficial for ABC. Therefore, ABC has purchased the equipment and has started in - house production of PQ. This has reduced the cost of procuring PQ almost five times. Question: Calculate the EOQ, Analyse if EOQ has helped ABC in managing inventory. Answer. Calculation of EOQ Economic order quantity (EOQ) is the order quantity of inventory that minimizes the total cost of inventory management. We need to minimize the total inventory costs and EOQ model helps us just do that. Q6. Write short notes:  Plan-Do-Check-Action(PDCA) cycle  Quality circles  Objectives of JIT  Maintenance management system Answer. Plan–Do–Check–Action (PDCA) cycle: The PDCA cycle refers to the activities that a company needs to perform in order to inculcate continuous improvement in its operations. The PDCA cycle includes the following: Plan: The managers must evaluate the current process and make plans based on the problems they find in the processes. It is essential to document all current procedures, collect data, and identify problems. This data should be analyzed and used to develop a plan for improvement, as well as to take specific measures to evaluate performance. FALL-2015 Get solved assignments at nominal price of Rs.125 each. Visit www.instamojo.com/subjects4u search for your code pay and download fully solved assignments. Any issues mail us at: [email protected] or contact at 09882243490