OM0010 & OPERATIONS MANAGEMENT

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ASSIGNMENT

 

DRIVE WINTER 2014
PROGRAM MBADS (SEM 3/SEM 5)MBAFLEX/ MBA (SEM 3)

PGDOMN (SEM 1)
SEMESTER III
SUBJECT CODE & NAME OM0010 & OPERATIONS MANAGEMENT
BK ID B1934
CREDITS AND MARKS 4 CREDITS AND 60 MARKS

 

 

Note–Answer all questions. Kindly note that answers for 10 marks questions should be approximately of 400 words. Each question is followed by evaluation scheme.

 

  1. 1. Explain any FIVE techniques of operations research.

 

Answer:Operations research, or operational research in British usage, is a discipline that deals with the application of advanced analytical methods to help make better decisions. It is often considered to be a sub-field of mathematics. The terms management science and decision science are sometimes used as synonyms.Employing techniques from other mathematical sciences, such as mathematical modeling, statistical analysis, and mathematical optimization, operations research arrives at optimal or near-optimal solutions to complex decision-making problems.

 

FIVE techniques of operations research:

 

  • Linear Programming:A typical mathematical program consists of a single objective function, representing either a profit to be maximized or a cost to be minimized, and a set of constraints that circumscribe the

 

 

 

  1. 2. Write short notes on:

 

  1. a) Elements of operations management: Business operations is the facet of an organization where most of the direct labor takes place.
  • Supply: When it comes to business operational management, the organization must bring in a supply to work with from somewhere.
  • Efficiency: Business

.

 

  1. b) Types of operations strategy:Operational strategies refers to the methods companies use to reach their objectives.

 

  • Corporate Strategy: Corporate strategies involve seeing a company as a system of interconnected parts.
  • Customer-driven Strategies: Operational strategies should include customer-driven approaches to meet the

 

 

 

  1. c) Consumer Pricing Expectations Range (CPER): Consumers have an expectation range when it comes to pricing. It’s possible to adjust their range upwards through a combination of terrific marketing and evangelists. But you need to have both:

 

  • Apple has successfully adjusted the consumer pricing expectations range (CPER) for computers. In general, people pay more for Mac computers than they do for Windows, because they feel that they are getting more value from Apple.
  • TiVo, which costs more than competing DVRs from cable companies, has not been able to adjust the CPER. TiVo once had evangelists, but it did not nurture them with excellent marketing.

 

  1. d) SERVQUAL:The SERVQUAL service quality model was developed by a group of American authors, ‘Parsu’ Parasuraman, Valarie Zeithaml and Len Berry, in 1988. It highlights the main components of high quality service. The SERVQUAL authors originally identified ten elements of service quality, but in later work, these were collapsed into five factors – reliability, assurance, tangibles, empathy and responsiveness – that create

 

 

 

 

  1. 3. Discuss the importance of service processes. What are steps in engineering service processes?

 

Answer:The service process is changing, with a much broader range of design options now available. Opportunities for new service design configurations are being supported, to a large extent, by technology-enabled innovations; many tasks previously performed by the service provider may now be performed by either the customer or the service provider.

 

Service processes aid an organization in to meeting customer expectations: Ideal customer service process:

 

  • Assign & Verify – the first thing

 

 

  1. 4. Write short notes on:
  2. a) Least Cost Method (LCM):In least cost method, we start giving allocations from the minimum cost in the matrix. It means that cell for which cost is minimum is given allocation first. Then allocation is given in next minimum cost and so on. It means lower cost cells are given priority over higher cost cells.

 

Where as in NWCR, there is no

 

 

 

 

  1. b) Objectives of inventory management:The main objective of inventory management is to maintain inventory at appropriate level to avoid excessive or shortage of inventory because both the cases are undesirable for business. Thus, management is faced with the following conflicting objectives:

 

  1. To keep inventory at sufficiently

 

 

 

  1. c) Limitations of replacement models:Replacement models deal with the problem of finding the optimal random time for a preventive replacement of a technical system. A large class of such models has been considered in the literature recently. In this paper a unifying approach to the replacement problem is given regarding it as an optimal stopping problem. The generalization allows to weaken a necessary monotonicity condition and to consider different information levels.

 

  1. d) Factors influencing decision making:The decision-making process in a small organization is highly complex.

 

Setting up a System: Decisions are not made impulsively in small organizations. Decisions require a lot of thought and preparation. Managers must weigh various options and understand the outcomes of decisions.

 

Generating

 

 

 

 

  1. 5. What is meant by multiple goal programming? Give the steps for solving a goal programming problem using the graphical method of goal programming.

 

Answer:Goal programming is a branch of multiobjective optimization, which in turn is a branch of multi-criteria decision analysis (MCDA). This is an optimization programme. It can be thought of as an extension or generalisation of linear programming to handle multiple, normally conflicting objective measures. Each of these measures is given a goal or target value to be achieved. Unwanted deviations from this set of target values are then minimised in an achievement function. This can be a vector or a weighted sum

 

 

 

  1. 6. Write short notes on:

 

  1. a) Convex nature of the objective functionConvex optimization problems are far more general than linear programming problems, but they share the desirable properties of LP problems: They can be solved quickly and reliably up to very large size — hundreds of thousands of variables and constraints. The issue has been that, unless your objective and constraints were linear, it was difficult to determine

 

 

 

  1. b) Applications of queuing model:Queuing theory is the mathematical approach to the analysis of waiting lines in any setting where arrival rate of subjects is faster than the system can handle. It is applicable to healthcare settings where the systems have excess capacity to accommodate random variations.

 

 

 

 

 

  1. c) Various performance measures of sequencing:While it is well known that managers make scheduling decisions based on multiple objectives, the majority of sequencing research is directed

 

 

 

 

 

 

 

  1. d) Applications of Markov analysis:Markov analysis has a number of applications in the business world. Two common applications are in estimating the proportion of a company’s accounts receivables that will become bad debts and forecasting future brand loyalty of current customers. It is a method used to forecast the value of a variable whose future value is independent of its past history. The technique is named after Russian mathematician Andrei Andreyevich Markov, who pioneered the

 

Dear students get fully solved assignments

Send your semester & Specialization name to our mail id :

  help.mbaassignments@gmail.com

or

call us at : 08263069601

 

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