QUESTION 1: Exercise 1 A small firm produces two qualities of a product – Standard and De-Luxe. The contribution per unit is £100 for the Standard and £300 for the De-Luxe. Each model requires 1 hour per unit in the machine shop and 40 machining hours are available per week. The Standard model can be assembled and finished in 2.5 hours per unit but the De-Luxe takes 10 hours per unit. There are 200 hours per week available for assembly and finishing. Market research suggests that the maximum
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2/21/2014 EM 502 OPERATIONS MANAGEMENT INTRODUCTION Middle East Technical University 1 Department of Industrial Engineering 06531 Ankara / Turkey General Information • Textbook: Operations Management by Heizer and Render‚ Prentice Hall‚ 10th Edition‚ 2010. • Grading – Midterm Exams (2) 60% – Final (Comprehensive) 20% – Case Studies (2 or 3 – team work) 20% Middle East Technical University 2 Department of Industrial Engineering 06531 Ankara / Turkey 1 2/21/2014 Outline • • • • • • • •
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NOTE 1: A candidate with a MBA in Operation Management would be able to look after a factory or other operations of the factory in a better manner as compared to others due to their competency and knowledge regarding handling the operations of an organization.Depending on the type of organization‚ one might be responsible for a few activities / regions in the initial stages and consequently growing up to handling broader areas. This career involves handling a few plants/ vendors initially
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STUDY OUTLINE FOR CHAPTER 1 INTRODUCTION TO Operations Management 1. Operations management is… 1) Operations management is the management of systems or processes that create goods and/or provide services. 2. What are the three basic functions in business organizations? 2) 1) Finance 3) 2) Operations 4) 3) Marketing 3. A supply chain consists of 4. What is meant by the term value-added? The value-added is the difference between the cost of inputs and the value or
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Section 1 (Strategy)-Page 37‚38‚39 QUSETION 1 Average monthly productivity (units/hour) for the month of: |MONTHS |PRODUCTIVITY | |January |2300 / (325*3) = 2.36 | |February |1800/ (200*5) = 1.80 | |March |2800/ (400*4) = 1.75 | |April |3000/ (320*4) = 2.34 | Average Monthly Productivity= (2.36+1.80+1.75+2.34)/4 = 2.06 QUESTION 2 Productivity = sales
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Holly Farm In 2003‚ Charles and Gillian Giles decided to open up their farm to the paying public‚ in response to diminishing profits from their milk and cereal activities. They invested all their savings into building a 40 space car park and an area with spaces for 40 seater buses‚ a safe viewing area for the milking parlour‚ special trailers for passengers to be transported around the farm on guided tours‚ a permanent exhibition of equipment‚ a rare breads paddock‚ a children’s adventure playground
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Q1: A manufacturer’s average work-in-process inventory for a certain part is 1‚000 units. The workstation produces this part at the rate of 200 units per day. What is the average time a unit spends at this workstation? Inventory‚ ‚ Throughput‚ . Thus‚ Flow time‚ . A unit spends an average time of 5 days at this workstation. Q2: The Wilcox Student Health Center has just implemented a new computer system and service process to “improve efficiency.” As pharmacy manager‚ you are concerned
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Q1) Explain the basic competitive priorities considered while formulating operations strategy by a firm? Ans: Operations strategy is the collective concrete actions chosen‚ mandated‚ or stimulated by corporate strategy. It is‚ of course‚ implemented within the operations function. The operations strategy specifies how the firm will employ its operations capabilities to support the business strategy. Operation advantages depend on its processes and competitive priorities considered while establishing
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Contents: * Introduction * Literature review: * The ‘four Vs’ of processes * Operations strategy * Operations performance objectives * Operations improvement * Findings * Discussion * Conclusion * Abbreviations * References | Introduction Operation management is changing‚ having increasing importance and central role in today’s businesses‚ effective operation management increases the potential to boost revenues‚ reduce costs and help in providing future competitive
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of Production and Operations Management IIBM Institute of Business Management Examination Paper Production and Operations Management Subject Code-B107 MM.100 Section A: Objective Type & Short Questions (30 marks) This section consists of multiple choice & 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. Production and Operations Management concerns itself
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