OM0010-Operations Management

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

Answer. Definition of operations:

The concept of the operations research, which is one of the important elements of operations management. For managing the operations of an organisation effectively, it is important to formulate a strategy called operations strategy. An operations strategy is a process wherein the key operations decisions, which are in accordance with the overall strategic objectives of an organisation, are made. These decisions can be related to the selection of production technique and process, the extent of manufacturing capacity and the type of products to be produced. According to Slack and Lewis, 2011, “Operations strategy is the total pattern of decisions, which shape the long term capabilities of any type of operation and their contribution to overall strategy, through the reconciliation of market requirements with operations resources.”

Q2. Explain the characteristics of services.

Answer. Explanation of characteristics of services:

There are four characteristics of services, which are discussed as follows:

1. Characteristic of intangibility:

Intangibility refers to the non-receptive characteristic of products. It is the most basic distinctive characteristic of a service. Services are deeds, actions and performances that cannot be seen, felt, touched or tasted, as we can do with the physical products. For example, medical services are

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

Answer. Definition of inventory control:

Inventory control refers to the evaluation of policies, procedures and systems for ensuring an adequate supply of inventory. It is also called stock control, which is a process that involves the supervision, storage and accessibility of goods or items. The main objective of inventory control is to ensure that an organisation has adequate supply of goods to prevent stockouts and oversupply. Therefore, inventory control is all about maintaining balance between undersupply and oversupply to maximise profits and minimise costs. This is because having an excess amount of

Q4. Explain the applications of queuing models.

Answer. Give the different applications of the queuing models:

Customers are the primary source of revenue for an organisation. They are satisfied if the organisation provides products or services at minimum cost and within the stipulated time. If an organisation makes unwanted delays in delivering services, customers may become highly dissatisfied and switch to other brands. Therefore, the waiting time of customers and the cost of providing services should be minimised. This can be done by using queuing models. The applications of queuing models are:

Q5. Write short notes on Markov analysis.

Answer. Definition of Markov analysis:

Markov analysis is a technique that is used to analyse the present behaviour of a variable and estimate its future behaviour. The concept of Markov analysis was introduced by Andrei A. Markov in the early 1900s. Markov analysis is also known as Markov process or Markov chains. It is a process that is characterised as memory less as the next state depends upon the current state and not on the sequence of the events.

Q6. Describe the various types of decision making models.

Answer. List the models:

model, the decision maker takes decisions based on his/her prior experience and skills.

Winter-2015

Get solved assignments at nominal price of Rs.125 each.

Mail us at: subjects4u@gmail.com or contact at

09882243490