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Operations Management
September 2023 Examination
1. List down and briefly explain the various types of inventories along with techniques of how to manage each. Identify at least three inventory management techniques applicable to pickup point stores of a large retail business operator with reasoning for the same. Explain how each technique contributes to the effective management of inventories for pickup point stores (assume several inventories of your choice). (10 Marks)
Ans:
Introduction:
Inventory control performs a vital function in the smooth operation of any retail business. It involves maintaining the ultimate degrees of various inventories to satisfy customer demand while minimizing costs and maximizing efficiency. On this reaction, we will explore different stock styles, briefly explain each, and then pick out three inventory control techniques suitable for pickup factor shops of a large retail business operator.
Types of Inventories:
1. Raw materials inventory: This stock comprises the basic materials required for manufacturing or manufacturing. It includes
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2. Define the theory of constraints and its key principles. Using an example of any synchronous manufacturing system, identify a bottleneck in the production process and describe how the Theory of Constraints can be applied to address this bottleneck. Also, describe how the concept of drum-buffer-rope (DBR) can be used to optimize production scheduling and improve overall system performance (10 Marks)
Ans:
Introduction:
The theory of Constraints (TOC) is a control philosophy Dr. Eliyahu M. Goldratt developed in the Nineteen Eighties. It aims to improve the performance of organizations by identifying and handling the limitations that limit their typical effectiveness. The concept indicates that each system, whether a manufacturing manner, a delivery chain, or a venture, has as a minimum one constraint that prevents it from accomplishing better performance levels. TOC provides a systematic method for perceiving, taking advantage of, and raising these
3. The facilities management department is a good example wherein the operations involve the integration of the “core operations function” to be coordinating and working in sync with other departments. With reference to the healthcare sector discuss the following aspects of operations in a big multi-specialty hospital setup.
a. Explain the role of operations managers in their interface with other functions in hospital facilities management. Give relevant examples. (5 Marks)
Ans:
Introduction:
In a big multi-specialty hospital setup, the role of operations managers is crucial in ensuring the smooth and efficient functioning of various facilities and services. The operations managers are crucial in coordinating and integrating the core operations function with other departments in hospital facilities management. They manage resources, optimize processes,
b. Define Quality and list and discuss in brief the various dimensions of quality in hospital facilities management. (5 Marks)
Ans;
Introduction:
In an extensive multi-specialty health facility setup, the center’s control branch plays a crucial role in ensuring the easy functioning of the entire healthcare facility. Facilities management includes coordinating and integrating various operations within the clinic, ensuring that the center operations function seamlessly with different departments. One key issue of facilities control inside the healthcare quarter is keeping and delivering excellent services. Satisfactory