OM0010–Operations Management

SUMMER-2015

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Master of Business Administration- MBA Semester 3

OM0010–Operations Management-4 Credits

(Book ID: B1934)

Assignment (60 Marks)

Note: Answer all questions must be written within 300 to 400 words each. Each Question carries 10 marks 6 X 10=60

Q1. Define operations strategy. What are the differences between manufacturing and service organisations in terms of operations strategy?

Answer. Operations strategy is the collective concrete actions chosen, mandated, or stimulated by corporate strategy. It is, of course, implemented within the operations function. A plan of action implemented by a firm that describes how they will employ their resources in the production of a product or service. An operational strategy is a necessary element for a business and supports the firm's corporate strategy. This operations strategy binds the various operations decisions and actions into a cohesive consistent response to competitive forces by linking firm policies, programs, systems, and actions into a systematic response to the competitive priorities chosen and communicated by the corporate or business strategy. In simpler terms, the operations strategy specifies how the firm will employ its operations capabilities to support the business strategy.

Q2. Explain the characteristics of services.

Q3. What is inventory control? Explain the factors considered in inventory control.

Q4. Explain the applications of queuing models

Q5. Write short notes on Markov analysis.

Answer. Markov Analysis

Markov analysis provides a means of analysing the reliability and availability of systems whose components exhibit strong dependencies. Other systems analysis methods (such as the Kinetic Tree Theory method employed in fault tree analyses) generally assume component independence that may lead to optimistic predictions for the system availability and reliability parameters. Some typical dependencies that can be handled using Markov models are:-

·         Components in cold or warm standby

·         Common maintenance personnel

·         Common shares with a limited on-site stock.

uture organizational pattern of the firms.

Q6. Describe the various types of decision making models.

Answer. Decision making models fall into these general categories: rational, intuitive, administrative and political. These two broad categories provide variations to arrive at a decision in any situation. The rational decision making model includes the Vroom-Jago system and a seven-step process. Recognition-primed decision making models are considered intuitive methods. Managers and leaders often combine rational and intuitive models when faced with a problem or opportunity.

Rational decision making models employ a structured approach that is orderly and logical. A sequence of steps starts with identifying the problem or situation at hand, followed by compiling all the facts and

SUMMER-2015

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