MATERIALS MANAGEMENT

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Total Marks: 80

SUBJECT : MATERIALS MANAGEMENT

N. B.: 1)Attempt any Eight Questions

2)All questions carries equal marks.

1.            What is wealth, and how is it created ?   What is value added, and how is it achieved?   Explain with examples ?

Answer:Wealth is the abundance of valuable resources or valuable material possessions. This includes the core meaning as held in the originating old English word weal, which is from an Indo-European word stem. An individual, community, region or country that possesses an abundance of such possessions or resources to the benefit of the common good is known as wealthy.

The modern concept of wealth is of significance in all areas of economics, and clearly so for growth economics and development economics yet the meaning of wealth is context-dependent. At the most general level, economists may define wealth as "anything of value" that captures both the subjective nature of the idea and the idea that it is not a fixed or static concept. Various definitions

2.            What is a material requirements plan ?   What is the difference between dependentand independent demand ?   Explain with examples.

Answer:Material requirements planning (MRP) is a production planning, scheduling, and inventory control system used to manage manufacturing processes. Most MRP systems are software-based, while it is possible to conduct MRP by hand as well.

An MRP system is intended to simultaneously meet three objectives:

·         Ensure materials are available for production and products are available for delivery to customers.

·         Maintain the lowest possible material and product levels in store

3.            Problem :Complete the following table.   Lead time for the part is two weeks.   The lot size is100.   What is the projected available at the end of week 3 ?   When is it planned to release an order?

Answer:

4.            What is capacity planning ?   What are the responsibilities of capacity management ?Describe the steps in capacity planning ?   Explain with examples ?

Answer:Capacity planning is the process of determining the production capacity needed by an organization to meet changing demands for its products. In the context of capacity planning, design capacity is the maximum amount of work that an organization is capable of completing in a given period. Effective capacity is the maximum amount of work that an organization is capable of completing in a given period due to constraints such as quality problems, delays, material handling, etc.

The phrase is also used in business computing and information technology as a synonym for capacity

5.            What  is  the  responsibility  of  production  activity  control       ?    What  are  the  majorfunctions of planning, implementation & control ?   Explain with examples ?

Answer:The time comes when plans must be put into action. Production activity control (PAC) is responsible for executing the master production schedule and the material requirements plan. At the same time, it must make good use of labor and machines, minimize work-in-process inventory, and maintain customer service.

The material requirements plan authorizes PAC:

6.            Problem :

An order for 50 of a product is processed on world centers A and B.   The set up time on A in 60 minutes, and run time is 5 minutes per piece.   The set up time on B is 30 minutes  and  the  run  time  is  6  minutes  per  piece.    Wait  time  between  the  two operations is 10 houses.   The move time between A and B is 60 minutes. Wait time after operations is 10 houses.   The move time into stores is 2 houses.   The move time into stores is 2 hours.   Queue at work center A is 40 hours and at B is 35 hours. Calculate the total manufacturing lead time for the order.   And also calculate the total manufacturing lead time for the order.

Answer:

7.            What is period order quantity  ?    How is it established  ?    When can it be used  ?

Explain with examples ?

Also define        1)            Annual ordering cost

2)            Annual carrying cost

3)            Total annual cost

With some examples ?

Answer:Period order quantityis aterm used when ordering raw materials or supplies in lots based on the quantity that will be used over a given time period or series of periods. For example, a bulk order for a component might be placed based on the expected usage rate to fulfill orders over a three month period. The goal of defining a period order quantity is to maximize cost savings by buying in bulk while minimizing storage costs for holding items that will not be used in the near future.

The period order quantity is a standard number of units to be ordered over a fixed period of time. This approach is used when the amount of raw materials or supplies usage is consistent and

8.            Problem :

The standard deviation of demand during the lead time is 100 units.

a)            Calculate the safety stock required to increase the service levels from 75% to 80% to

                85%, 85% to 90%, 90% to 99.99% ?   What conclusion do you each

b) Calculate the change in safety stock required for the following service levels : 75%,

                80%, 85%, 90%, 95%, 99.99%

Answer:When the quantity of an item on hand in inventory falls to a predetermined level, called an order point, an order is placed. The quantity ordered is usually recalculated and based on economic-order-quantity concepts.

Using this system, an order must be placed when there is enough stock on hand to satisfy demand from the time the order is placed until the new stock arrives (called the lead time). Suppose that for a particular item the average demand is 100 units a week and the lead time is four weeks. If an order

9.            What  are  the  five  basic  modes  of  transportation  ?  What  are  the  three  physical elements in the transportation system ?   For each of the five modes, describe who provides them and how they are funded.   Also describe why are train service cheaper than road transport for bulky items and why trucks provide a fast flexible service.

Answer:In the developing world, the migration from rural to urbanized habitats has progressed differently. Many areas of the developing world have urbanised without significant motorisation and the formation of suburbs. A small portion of the population can afford automobiles, but the automobiles greatly increase congestion in these multimodal transportation systems. They als

10.          What is valve to the user ?   How is it related to quality ?   What are the elements of product cycle loop ?   For what is each responsible ?   Prepare a situation in which the above terms can be easily explained an illustrated.

Answer:Parallel to the MVC approach, other techniques have been developed or employed to complement the assessment of control loops. Oscillation detection procedures as proposed by Hägglund (2005), spectral analysis, autocorrelation functions, cross-correlation functions, simple statistics and metrics like valve travel and valve reversals are frequently used to monitor and diagnose control loops.

Practical applications are also reported in literature, as found in Harris et al. (1996), Huang and Shah (1998), Thornhill et al. (1999) and Paulonis and Cox (2003). Around 1997, the market started to produce software to perform the task of analyze and assess control loops.

Nowadays many companies have already undertaken international action to transform the technology and knowledge developed in software products and support and consulting services.

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