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AEREN FOUNDATION’S Maharashtra Govt. Reg. No.: F-11724
| AN ISO 9001 : 2008 CERTIFIED INTERNATIONAL B-SCHOOL |
SUBJECT: OPERATIONS MANAGEMENT
Q1) Explain the concept Six Sigma. Bring out the significance of Six Sigma in Quality Management?
Answer: – Six Sigma at many organizations simply means a measure of quality that strives for near perfection. Six Sigma is a disciplined, data-driven approach and methodology for eliminating defects (driving toward six standard deviations between the mean and the nearest specification limit) in any process – from manufacturing to transactional and from product to service.
Significance of Six Sigma in Quality Management
Quality Management System
Six Sigma approach is a quality management system which is increasingly used in various industries nowadays. No one can deny the
Q2) Define Project Management and explain its nature and features?
Answer:- Project management is the process and activity of planning, organizing, motivating, and controlling resources, procedures and protocols to achieve specific goals in scientific or daily problems. A project is a temporary endeavor designed to produce a unique product, service or result with a defined beginning and end (usually time-constrained, and often constrained by funding or deliverables), undertaken to meet unique goals and objectives, typically to bring about beneficial change or added value. The temporary nature of projects stands in contrast with business as usual (or operations),[4] which are repetitive, permanent, or semi-
Q3) What is Process Analysis? Explain the steps in Manufacturing Process Selection and Design?
Answer: – A step-by-step breakdown of the phases of a process, used to convey the inputs, outputs, and operations that take place during each phase. A process analysis can be used to improve understanding of how the process operates, and to determine potential targets for process improvement through removing waste and increasing efficiency.
Explain the steps in Manufacturing Process
Q4) Enumerate and explain the Theory of Constraints?
Answer: – The theory of constraints (TOC) is a management paradigm that views any manageable system as being limited in achieving more of its goals by a very small number of constraints. There is always at least one constraint, and TOC uses a focusing process to identify the constraint and restructure the rest of the organization around it.
TOC adopts the common idiom “a chain is no
Q5) Write short notes (any two)
- a) Inventory Control
- b) Operations Scheduling
- c) Aggregate Sales and Operations Planning
Answer: – Inventory Control:- Inventory Control is the supervision of supply, storage and accessibility of items in order to ensure an adequate supply without excessive oversupply. It can also be referred as internal control – an accounting procedure or system designed to promote efficiency or assure the implementation of a policy or safeguard assets or avoid fraud and error etc.
Inventory control may refer to:
In economics, the inventory control problem, which aims to reduce overhead cost without hurting sales In the field of loss prevention,
- b) Operations Scheduling:- In the operations management or the production management, this technique of operations scheduling forms a very important part and acts as the back – bone for the performance of the manufacturing or the service organizations. With the help of the operations scheduling, two very important factors or the aspects of the resources within an organization that can be pertained are as follows –
- Allocating the resources within an organization.
- Setting up the time – table.
In today’s competitive world, the orders that are placed either from the side of the customer or from the side of the assembly benches – are to be
Q6) Explain the following concept (any two)
1) Product Design
2) Strategic Capacity Management
3) Lean Productions
Answer:-
Product Design:- Product design is the process of creating a new product to be sold by a business to its customers. A very broad concept, it is essentially the efficient and effective generation and development of ideas through a process that leads to new products.
In a systematic approach, product designers
Q7) Define Material Requirements Planning. Discuss its various components?
Answer:- Material requirements planning (MRP) is a production planning, scheduling, and inventory control system used to manage manufacturing processes. Most MRP systems are software-based, while it is possible to conduct MRP by hand as well.
An MRP system is intended to simultaneously meet three objectives:
- Ensure materials are available for production and products are available for delivery to customers.
Q8) What is Supply Chain Strategy? Discuss its characteristics?
Answer: – Supply chain management (SCM) is the management of the flow of goods, flow of cash, and flow of information internally and externally of a company or a group of companies that share the same value chain. It includes the movement and storage of raw materials, work-in-process inventory, and finished goods from point of origin to point of consumption; cash or credit in purchasing or selling of products or services; as well as the information that conducts those activities, such as orders, demand forecast, or even picking lists. 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.[2] Supply chain management has been defined as the “design
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