Questions on Operations Management

Pages: 23 (5263 words) Published: February 25, 2013
Unit I
1.Define Production Management
It is the process by which raw material and other inputs are converted into finishedgoods. 2.What are the needs or Objectives of Production Management. To manufacture the products as per the specification

To effectively manage the available resources and facilities To produce products as per the market requirement .

3.What are the Functional subsystems of the any organization? Production Management
Marketing Management
Personnel Management
Finance Management

4.What are the major managerial decisions to be taken while managing the functionalsubsystems? Strategic decision
Tactical decision
Operational decision

5.What are the strategic decisions need to be taken in Production Management? Alternative manufacturing approaches and alternative approaches to automation

6.Define Product Planning.
Product planning is process of searching ideas for new products, screening themsystematically, converting them into tangible products and introducing the new productsinto markets.

7.Define Operations Management
This is concerned with the management of the resources and processes required by anorganization to produce goods or services for customers.

8.Name the different types of inventories.
•Raw materials
•Bought out components or sub assemblies
•Goods of work in progress.
•Finished goods.

9.Explain the term strategy and tactics
Strategies are plans to achieve organizational goals.Tactics are methods and actions o accomplish strategies.

10.List the strategies for improving the productivity of an organization. •Increased output for the same input
•Decreased input for the same output.
•Proportionate increase in the output is more than the proportionate increase in theinput. •Proportionate decrease in the input more than the proportionate decrease in theoutput. •Simultaneous increase in the output with decrease in the input.

11.Define the term contribution.
Contribution is the difference between sales and marginal cost of sales.

12.What is PDCA cycle?
PDCA cycle can be called as Deming wheel or Deming cycle.P- Plan the improvement.D- Do implement the planC- Check how closely result meets goals.A- Act on the improved process as standard practice.

13.Define Forecasting
Estimating the future demand for product, services and resources necessary to produce these outputs.

14.What are the types of Forecasting

15.What do you mean by Quantitative and Qualitative methods? Quantitative – method involves projection of historical data or development of associative model.Qualitative – it consist mainly of subjective inputs.

16.What is tracking signal in forecasting?
Tracking signal is a measurement of how well the forecast is predicting actual values.Positive tracking signals indicate that demand is greater than forecast. Negative trackingsignals means that demand is less than forecast.

17.When are the time series methods best for demand forecasting? Simple moving average
Single exponential smoothing
Double moving average
Simple regression

18.What do you mean by Delphi method in forecasting?
In Delphi method several knowledgeable persons are asked to provide subjectiveestimates of demands of forecasts of possible advances of technology. The experts may provide several opinion

19.Define Capacity Planning.
A long term strategic decision that establishes a firms overall level resources

20.What are the types of Capacity Planning
•Production capacity
•Design capacity
•Effective capacity
•Decreased input for the same output.
•Proportionate increase in the output is more than the proportionate increase in theinput. •Proportionate decrease in the input more than the proportionate decrease in theoutput. •Simultaneous increase in the output with...
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