Iibm Emba Production and Operation Management

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Semester II Examination Papers

IIBM Institute of Business Management
Semester-II

Examination Paper

MM.100

Production and Operation Management
Section A: Objective Type (30 marks)




This section consists of Multiple choice questions & Short Notes type questions. Answer all the questions.
Part One questions carry 1 mark each & Part Two questions carry 5 marks each.

Part One:
Multiple choices:
1. If the number of restrictions on sources be ‘a’ and the number of restrictions on destinations be ‘b’ then with the use of ‘stepping stone procedure’, the number of ‘used cells’ will be a. a+b+1

b. a+b+2
c. a-b-1
d. a+b-1
2. Value of smoothing coefficient ‘α’ lies
a. Between 1 and ∞
b. Between 0 and 1
c. Between -1 and 1
d. Between 1 and 2
3. Forecasting error is
a. The difference between forecasted demand and actual demand b. The ratio of forecasted demand and actual demand
c. The difference between the standard forecast demand and the evaluated forecast demand d. Ratio of standard forecast demand and the evaluated forecast demand 4. For forecasting the analyzers plot the demand data on a time scale, study the plot and then look for the consistent patterns. Now what does the high noise mean to these patterns a. Many of the point lie away from the pattern

b. Most of the points lie close to the pattern
c. All the points lie on the pattern
d. None
5. Payback period is
a. The length of time after which the production starts
b. The length of time after which the selling starts
c. The length of time required to recover the investment
d. The length of time for which firm bears replacement of the good.

IIBM Institute of Business Management

Semester II Examination Papers
6. Salvage value is the income from
a. Selling an asset
b. Buying an asset
c. Bargaining in selling
d. Price raised stock
7. On total factor basis ‘Productivity’ is given by x/y, where ‘y’ is a. Labor + Capital +Materials
b. Labor + Capital + Materials + Energy
c. Capital
d. Capital + Materials
8. Economic efficiency is given by
a. Input /output
b. Input /100
c. (Output-input)/input
d. Output /input
9. This implies an effective management that ensures an organization’s long-term commitment to the continuous improvement of quality.
a. Quality management
b. Strategic management
c. Total quality management
d. Operations management
10. This techniques for improving productivity involves analyzing the operations of the product or service, estimate the value of each operation, and modifying (or) improving that operation so that the cost is lowered.

a. Value engineering
b. Time-event network
c. Work simplifications
d. Quality circles
Part Two:
1. What are the different types of models in production and operation management? 2. Define ‘Depreciation’.
3. What do you understand by ‘Bias’?
4. What are ‘Learning curves’?

END OF SECTION A

IIBM Institute of Business Management

Semester II Examination Papers

Section B: Caselets (40 marks)





This section consists of Caselets.
Answer all the questions.
Each caselet carries 20 marks.
Detailed information should form the part of your answer (Word limit 200 to 250 words).

Caselet 1
COMPANY BACKGROUND
The Bronson Insurance Group was originally founded in 1900 in Auxvasse, Missouri, by James Bronson. The Bronson Group owns a variety of companies that underwrite personal and commercial insurance policies. Annual sales of the Bronson Group are $100 million. In recent years, the company has suffered operating losses. In 1990, the company was heavily invested in computer hardware and software. One of the problems the Bronson Group faced (as well as many insurance companies) was a conflict between established manual procedures and the relatively recent (within the past 20 years) introduction of computer equipment. This conflict was illustrated by the fact that much information was captured on computer but paper files were still kept for...
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