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National Institute
of Business
Chennai - 020
EMBA/
MBA
Elective: Production
Management (Part -1)
Attend any 4 questions. Each question carries 25 marks
(Each answer should be of minimum 2 pages / of 300 words)
Q. 1.Explain the functions of production management.
Answer: Production Management refers to
the application of management principles to the production function in a
factory. In other words, production management involves application of
planning, organizing, directing and controlling the production process.
Functions of Production Management:
The
definitions discussed above clearly shows that the concept
Q. 2.What are the types of production
strategies? Explain.
Answer: The different types of
production strategies are grouped, listed and explained under following three
categories, viz.,
Q. 3.Explain the different stages in
product life cycle and accompanying characteristics important to manufacturing
process technology.
Answer: Product life-cycle management
(or PLM) is the succession of strategies used by business management as a
product goes through its life-cycle. The conditions in which a product is sold
(advertising, saturation) changes over time and must be managed as it moves
through its succession of stages.
The
concept of product life cycle (PLC) concerns the life of a product in the
market with respect to business/commercial costs and sales measures. The
product life cycle proceeds through multiple phases, involves many professional
disciplines, and requires many skills, tools and processes. PLC management
makes the following three assumptions:
·
Products have a limited life and thus every
Q. 4.Explain production forecasting
process.
Answer:Production forecasting process
includes following process:
1. Fix the forecasting objectives: The
production manager must first fix the forecasting objectives. That is, he must
know exactly why he is doing production forecasting. Forecasting objectives
answers the question like, why are we forecasting? Here, the answer to this
question may be; we are doing forecasting to help us in marketing planning, or
we are doing forecasting to help us in the plant capacity planning, etc. If we
know exactly why we are forecasting, then we can collect proper data for that
purpose. This will result in more accurate
Q. 5.Describe with the use of organization
structure the importance of Production Management function and its relationship
with other departments in the organization.
Answer: Organizational structure is the
formal and informal policies and procedures companies use for governing
business operations. Smaller and home-based businesses typically do not use
organizational structures because the business owner usually is responsible for
completing the majority of business functions. Larger businesses use an
organizational structure to effectively manage business functions and
employees. While
Q. 6.Explain the different types of
forecasting and give their Merits and Demerits?
Answer: Forecasting is a process of
predicting or estimating the future based on past and present data.
Forecasting provides information about the potential future events and their
consequences for the organisation. It may not reduce the complications and uncertainty
of the future. However, it increases the confidence of the management to make
important decisions. Forecasting is the basis of premising. Forecasting uses
many statistical techniques. Therefore, it is also called as Statistical
Analysis.
25 x 4=100 marks
Dear
students get fully solved assignments
Send
your semester & Specialization name to our mail id :
help.mbaassignments@gmail.com
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