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Operations Management
April 2021 Examination
Ques 1. Discuss the various inventory management/control techniques prevalent in the industry. Discuss how some of these techniques would apply to an organization in the FMCG sector for effective management of their inventories; i.e soaps, household supplies, etc (you can assume inventories of your choice to explain).
Ans 1.
Introduction
The layout of a plant has significant relations with the nature of the product being manufactured. The stationary layout is always most suitable for heavy products, while line layout best suits the light products because light and small products can very easily move from one place or a machine to another. More attention is needed to be paid to the handling of materials and machines’ locations.
Ques 2. List and explain in brief the various types of plant layout concepts in operations management, highlighting the objective, considerations of a good layout design. Give examples of where each of these types can be employed respectively. Briefly explain aLayout for Retail store operations(10 Marks)
Ans 2.
Introduction
The importance of Plant layout as Strategic Nature:- A plant’s layout decisions are the strategic decision. The reason is the impact on the manufacturer’s cost and efficiency, and also the warehouse operations. In the service facility, the
Ques 3a. Assume you are a part of the Operations team in an automobile manufacturing setup. You are also working in coordination with other departments. Discuss the following aspects of the operations of your organization
- Define Quality & list and discuss in brief the various dimensions of quality in operations (5 Marks)
Ans 3a.
Introduction
The definition of quality is always a vigorously debated topic. Sometimes it looks to be intuitive if we get right down to it. In fact, “quality” is a tough, rather say an intuitive concept to define with any precision.
Ques 3b. Discuss the concept of EOQ in brief. Using the data below, find EOQ, and the reorder point. Annual Demand: 15,000 units; Weeks Operating: 50 weeks/year; Ordering Costs: Rs. 60/order & Holding Costs: Rs. 7/unit/year; Lead-Time: 5 weeks & Safety Stock: 250 units (5 Marks) –
Ans 3b.
Introduction
EOQ considers reordering timing, the cost being incurred for placing an order, and the cost of storing the merchandise. In case a firm is often placing small orders for maintaining a specific inventory level, the cost of ordering is higher. Besides this, a need for additional storage space or warehousing becomes necessary.
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