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Spring 2017


1 Explain the concept of operation management. What are the elements of operations
Concept of Operations Management
Elements of Operations Management
Operations management is defined as that activity whereby resources, flowing
within a defined system, are combined and transformed in a controlled manner
to add value in accordance with policies communicated by management.
Whereas the term "production," in a narrow sense, is often associated with a
quantity of goods, or

2 Explain the concept of forecasting. Also Elaborate the steps involved in the forecasting
a. Concept of forecasting
b. Forecasting Process

Answer: Concept of Forecasting

You can define forecasting as a mechanism that is widely used in organisations. It is a
planning tool that helps organisation to cope with future uncertainties by using the past and
present data. The basic

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
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

Answer: Construct the transportation cost matrix table, which is as follows:

Availability = 160+150+190=500
Requirement = 80+90+110+160=440
In the given case,

4 Explain the following criterions that a decision maker may adopt under uncertain
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
strategy that maximises the maximum gain. The maximax criterion is also known as the
optimistic criterion or

5. Solve the assignment problem shown in the following table:

1 2 3 4
A 15 9 14 22
B 12 10 20 17
C 7 8 6 9
D 20 16 17 18
Also determine the total assignment cost.

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 row

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.

Answer: Replacement of Equipment that Deteriorates with Time

When the operational efficiency of equipment goes on decreasing with the gradual passage of
time, it is economical to replace the same with a new one. The replacement decisions for such
equipment are taken based on the economic life cycle and monthly or annual operating costs
of the equipment.
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