FALL-2015
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Master of Business
Administration - MBA Semester 3
OM0010-Operations
Management
(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. Explain any FIVE techniques of
operations research.
Answer. Techniques:
1. Mathematical Modeling
The
science and art of math modeling is a fundamental technique that all OR
practitioners build upon. A "model" here refers to a set of
mathematical equations that describes the relevant aspects of the problems to
be solved. In operations research, the mathematical representation of the
problem is called a "formulation." Since there are many types of
problem sets for which solution techniques are well known, the skill lies in
formulating the math model of the real-life problem at hand into
Q2. Write short notes on:
Ø Elements of
operations management
Ø Types of
operations strategy
Ø Consumer
Pricing Expectations Range (CPER)
Ø SERVQUAL
Answer. Elements of operations
management: The key element
on which the success or failure of operation management depends is as follows:
Supply: The main element of operation management is
supply; continuous supply of inputs is required to transform them into output.
For example operation of customer relationship
Q3. Discuss the importance of service
processes. What are steps in engineering service processes?
Answer. The service process is changing, with a much
broader range of design options now available. Opportunities for new service
design configurations are being supported, to a large extent, by
technology-enabled innovations; many tasks previously performed by the service
provider may now be performed by either the customer or the service provider. The importances of service process are as
follows:
Q4. Write short notes on:
·
Least Cost
Method (LCM)
·
Objectives of
inventory management
·
Limitations
of replacement models
·
Factors
influencing decision making
Answer. Least Cost Method (LCM): In
least cost method, we start giving allocations from the minimum cost in the
matrix. It means that cell for which cost is minimum is given allocation first.
Then allocation is given in next minimum cost and so on. It means lower cost
cells are given priority over higher cost cells.
Objective of inventory management: The main objective of inventory management is
to maintain inventory at appropriate level to avoid excessive or shortage of
inventory because both the cases are undesirable for business. Thus, management
is faced with the following conflicting objectives:
Q5. What is meant by multiple goal programming? Give the steps for
solving a goal programming problem using the graphical method of goal
programming.
Answer. Goal programming is a branch of multi objective optimization,
which in turn is a branch of multi-criteria decision analysis (MCDA). This is
an optimization programmer. It can be thought of as an extension or
generalization of linear programming to handle multiple, normally conflicting
objective measures. Each of these measures is given a goal or target value to
be achieved. Unwanted deviations from this set of target values are then
minimized in an achievement function. In case of two sided goal, the decision
maker does not want to miss the goal from either side. There are mainly two types of goal programming:
Q6. Write short notes on:
·
Convex nature
of the objective function
·
Applications
of queuing model
·
Various
performance measures of sequencing
·
Applications
of Markov analysis
Answer. Convex nature of the objective
function: A convex optimization problem refers
to a mathematical programming problem where all the constraints that define the
problem are convex functions. This implies that all the constraints are
<equal type and the objective function is required to be minimized. In other
words a function is convex if any two points within the plane are joined by a straight
line, which lies entirely inside the region.
FALL-2015
Get solved
assignments at nominal price of Rs.125 each.
Any issues
mail us at: subjects4u@gmail.com or contact at
09882243490
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