MB0044 - PRODUCTION AND OPERATION MANAGEMENT

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DRIVE	SPRING 2015
PROGRAM	MBA/ MBADS/ MBAFLEX/ MBAHCSN3/ PGDBAN2
SEMESTER	II
SUBJECT CODE & NAME	MB 0044 - PRODUCTION AND OPERATION MANAGEMENT
BK ID	B1627
CREDIT & MARKS	4 CREDITS, 60 MARKS

Assignment

Note: Answer all questions. Kindly note that answers for 10 marks questions should be approximately of 400 words. Each question is followed by evaluation scheme.

1. Write short notes on:

A) Environmental scanning as a basis for strategic decision making

Answer : Environmental scanning is the communication of external information about facts that could influence an organization on its’ strategic decision-making process. It is a method of analyzing relevant gathered information and use to determine strategic and premeditated action on the business environment. The environmental scanning process seek obtain both realistic and subjective information on the business environments where a

B) Tools for implementation of operations

Answer : Unique: no other firm has developed a single source software package integrating the investment and engineering components required to deliver successful projects

On time and on budget: developed to deliver Alpheon’s own energy plants, an in-house specialist tool for successful project delivery

Reduce consulting costs: Alpheon

C) Differentiation strategies as a basis of decision making

Answer : Without differentiation, all businesses that sell the same product or service would be in direct competition with one another. Business differentiation allows you to position your products so that consumers can distinguish between those that are offered by your business and those offered by the competition. The key is to differentiate your business based on points that consumers value as important when making purchasing decisions.

A business can differentiate its products and services based on a range if different factors such as price, quality, usability, convenience and service. An emerging trend is for businesses to differentiate based on environmental sustainability. Businesses can

D) Core competencies as a basis of decision making

Answer : Shared decision making is now making inroads in health care professionals' continuing education curriculum, but there is no consensus on what core competencies are required by clinicians for effectively involving patients in health-related decisions. Ready-made programs for training clinicians in shared decision making are in high demand, but existing programs vary widely in their theoretical foundations, length, and content. An international, interdisciplinary group of 25 individuals met in 2012 to discuss theoretical approaches to making health-related decisions, compare notes on existing programs, take stock of stakeholders concerns

2 Answer the following questions:

a. What is forecasting?

Answer : Forecasting is a decision-making tool used by many businesses to help in budgeting, planning, and estimating future growth. In the simplest terms, forecasting is the attempt to predict future outcomes based on past events and management insight.

There are two forecast types:

b. What are the benefits of forecasting?

Answer : Forecasting benefits

Business trend planning is the process of identifying marketplace preferences that may be beneficial to your company's business model, according to the small business experts at the More Business website.

First to Market

c. What are the cost implications of forecasting?

Answer : In preparing a budget, a distance teaching institution needs to forecast two types of costs: fixed and variable. The main fixed costs are likely to be capital investment and the salaries of full-time staff. Capital investment is needed for buildings and production facilities, such as television studios and printing presses. Of course, it may be possible to contract production services and thus reduce fixed costs. Salary costs will be determined by the extent

d. List the different types of forecasting methods.

Answer : Some forecasting methods are very simple and surprisingly effective. Here are four methods that we will use as benchmarks for other forecasting methods.

Average method

Here, the forecasts of all future values are equal

Q.3 Describe the process of value analysis.

Answer : An approach to improving the value of an item or process by understanding its constituent components and their associated costs. It then seeks to find improvements to the components by either reducing their cost or increasing the value of the functions. It is a strategy that businesses use to determine whether all of their operational expenses are necessary and if they could be operating more efficiently. Process value analysis looks at what the

Q4. What do you understand by “line balancing”? What happens if balance doesn’t exist?

Answer : Here is a simple definition and example of line balancing :

·         Everyone is doing the same amount of work

·         Doing the same amount of work to customer requirement

·         Variation is ‘smoothed’

·         No one overburdened

·         No one waiting

Q. 5. Explain the steps to set data in logical order so that the business process may be defined.

Answer:A business process or business method is a collection of related, structured activities or tasks that produce a specific service or product (serve a particular goal) for a particular customer or customers. It can often be visualized with a flowchart as a sequence of activities with interleaving decision points or with a Process Matrix as a sequence of activities with relevance rules based on data in the process.

There are three types of business processes:

Q. 6. Describe the post implementation review of a project. Explain the tools that may be considered for post implementation review.

Answer: Description of the four parts of the post implementation review of a project

Final product review: A good time to start thinking about the Post Implementation Review is when members of the project team remember the most – shortly after the project has been delivered, and when most of the problems have been ironed-out.

Outstanding project work review: There will probably be a period of adjustment before you can finally review the solution as it was intended to operate: you'll likely need to overcome some of the usual resistance to change, hold people's hands while

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