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NMIMS
Master
of Business Administration - MBA Semester 3
Operation Management
Q1.
List down briefly the various inventory management techniques prevalent in the
industry. Discuss how some of these techniques would be applicable to a Medical
Store in effective management of their inventories, i.e medical supplies.
Answer.
An
unused resource of any kind, which has considerable potential in value, is
termed as inventory. Inventory is a list of goods (both finished and
semi-finished), work in progress and raw materials that are held in stock by
business organisations. Companies use inventory in order to meet the future
demands in production, repair, maintenance, construction, etc. Inventory is
considered as one of the most important assets of an organisation. An effective
inventory management is vital for both manufacturers and service organisations,
though
Q2.
In the competitive business environment, there is a lot of strategic pressure
on established companies to compete with the cheaper substitutes as well as
maintain quality at the same time. Also there is a recent trend amongst consumers
for "first copy/ duplicates" of branded products. Why do you think
that these so called "Chinese manufacturers" are able to make
products cheaper than most other products available? Also how do you think can
competing and maintaining quality be achievable for companies for original
branded products like Cadbury, Rayban, etc to tackle the other duplicate
products?
Answer.
The present day world is often called
as a flat world because of revolution in transport, communication and
technological advancement. The present day environment in which the business
enterprises operate is so dynamic and fast-changing that the business
enterprises are finding it extremely difficult to operate. There are high level
of uncertainties, threats and constraints from different quarters and due to
this business corporations are finding it extremely difficult to survive. In
the highly dynamic business environment today, companies compete with each
other for the customer’s attention as well as the market share. For capturing the
necessary market share and retaining its flagship position, each company has to
analyse its own
Q3.
ABC Ltd is a leading corporate in India in FMCG. After an extensive research by
their Marketing department they found out they should diversify into Foods
& Beverages. The top management decided to get in the manufacturing of a
coconut flavoured soft drink and a coconut flavoured milk based drink. Pumping
capital in the venture into the business is not a major concern for the company
as they have many regular investors on hand. The company would like to have a
major presence with a pan India distribution network
a.
Do you think the idea of getting into the business of a coconut flavoured
drinks a feasible business/ product on for a FMCG company? Give your views with
reasons.
b.
Assuming that the business idea would have a very encouraging response, suggest
a suitable plant location to set up the beverage manufacturing. Give reasons
for the same.
Answer.
a) Entrepreneurs have the power to
alter the economy, industries and market situations. They invent new products
and also try to develop the existing products and product designs. They try to
achieve the desired goal within the frame work of business/cultural ethics.
Many innovations have transformed the society and altered its living pattern.
There are many soft drinks available in the market which is quite popular among
the customers. When you enter in a popular market, it is difficult to enter in
any new segment.
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