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DRIVE
Winter 2016
PROGRAM
MBA
SEMESTER
III
SUBJECT CODE & NAME
OM 0010 - OPERATIONS MANAGEMENT
1 Explain the concept of operation management. What are the elements of operations
management?
A
Concept of Operations Management
Elements of Operations Management
Answer:
2 Explain the concept of forecasting. Also Elaborate the steps involved in the forecasting
process.
a. Concept of forecasting
b. Forecasting Process
3. An organisation has three production centres P1, P2 and P3 that supply products to
four warehouses W1, W2, W3 and W4. The monthly production capacities of the three
production centres are 160, 150 and 190 units, respectively. The monthly demand of
warehouses is 80, 90, 110 and 160 units, respectively. The transportation cost per unit (in
rupees) is shown in following Table
Warehouses
Production Centres W1 W2 W3 W4
P1 10 12 8 15
P2 12 14 18 9
P3 15 12 20 16
Discussion questions:
1. How many units should an organisation supply to warehouses so that the total
transportation cost is minimised?
2. Calculate Total Transportation Cost
4 Explain the following criterions that a decision maker may adopt under uncertain
conditions.
a. Maximax Criterion
b. Maximin Criterion
c. Minimax Regret Criterion
d. Realism Criterion
e. Insufficient Reason Criterion
Answer: Maximax Criterion: It is the criterion in which a decision maker selects the
alternative that provides the maximum payoff. This criterion is based on the assumption that
all available alternatives would provide the best possible outcome. Maximax criterion is a
Answer: Conduct row and column operations as the assignment problem is balanced. The
row operations involve selecting an element having a minimum value in each row starting
from row A and subtracting that element from all other elements in that row. After completing
6 Elaborate the replacement of equipment that deteriorates with time. What are the
limitations of replacement models?
Replacement of equipment that deteriorates with time.
Limitations of replacement models.