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NMIMS Global Access
School for Continuing Education (NGA-SCE)
Course: Operations Management
Internal Assignment Applicable for September 2020 Examination
Assignment Marks: 30
Instructions:
- All Questions carry equal marks.
- All Questions are compulsory
- All answers to be explained in not more than 1000 words for question 1 and 2 and for question 3 in not more than 500 words for each subsection. Use relevant examples, illustrations as far aspossible.
- All answers to be written individually. Discussion and group work is not advisable.
- Students are free to refer to any books/reference material/website/internet for attempting theirassignments, but are not allowed to copy the matter as it is from the source of reference.
- Students should write the assignment in their own words. Copying of assignments from otherstudents is not allowed.
- Students should follow the following parameter for answering the assignment questions.
| For Theoretical Answer | For Numerical Answer | |||
| Assessment Parameter | Weightage | Assessment Parameter | Weightage | |
| Introduction | 20% | Understanding and usage of the formula | 20% | |
| Concepts and Application related to the question | 60% | Procedure / Steps | 50% | |
| Conclusion | 20% | Correct Answer & Interpretation | 30% |
Question: What are various decision criteria for deciding a location for a business setup? Explain these decision criteria with reference to a location decision for setting up a textile manufacturing plant.
Answer: Introduction: Before you begin trying to find a business location, you ought to have a transparent image of what you have got and what you would like to possess in future. Bobbing up there with image could be a long method, that is each tedious and exciting – however you would like to present it the eye that it deserves.
Concept and Application
Although several business mistakes will be corrected later, a foul location is usually not possible to repair.There are various decision criteria for
Question. 2. Define and explain the term ‘Operations Management’. Explain the role of an Operations Manager in handling Customers and Suppliers in a Supply Chain. Give relevant examples from a Retail Store Operation
Answer : Introduction
Operations management is that the administration of business practices to make the best level of potency potential among a company. it’s involved with changing materials and labor into merchandise and services as with efficiency as potential to maximise the profit of a company. For example, if a corporation makes
Question: 3. Many business organizations have operations in which inventory management is a daily and constant process. Managing a Restaurant is one such business, wherein the procurement and managing various inventory is a very strategic process. Explain the following concepts (with atleast one example) in Operations of a Restaurant business, and conclude how relevant is it in the business?
a. Economic Ordered Quantity (EOQ)
Answer : A. Economic Ordered Quantity (EOQ)
Economic Order Quantity (EOQ) is a production formula used to determines the most efficient amount of goods that should be purchased based on ordering and carrying costs. In other words, it represents the optimal quantity of inventory a company should order each time in order to minimize the costs associated with ordering and holding inventory.
b. Vendor Managed Inventory (VMI)
Answer : Vendor managed inventory is a supply chain agreement where an upstream agent (e.g. supplier or manufacturer) takes control of the inventory management decisions for one or more downstream agents (e.g. retailers).
Vendor Managed Inventory works by making a dependent relationship between each side of a dealings that permits the parties to share risk and
Hello MBA aspirants,
Get MBA assignments of NMIMS University solved by educational professionals at a nominal charge.
Mail us at: help.mbaassignments@gmail.com
Call us at: 08263069601