MODULE TITLE: OPERATIONS MANAGEMENT Hand in date: 6pm Thursday 10th December Alternative Assessment 2‚500 words Report question The aim of the JIT methodology may be deemed to meet demand instantaneously‚ with perfect quality and no waste’. So runs one definition of JIT. Your task is to evaluate the requirements and objectives of a JIT operation and analyse the potential benefits and drawbacks when deciding to apply the JIT methodology to the following operation: A restaurant
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Sunderland Business School Level: M Module: Operations Management Module Code: PGBM03 Module Leader: Tom Cuthbertson Issue Date: 26th July 2011 Return Date: 16th August 2011 Contribution to Module Assessment 100% This is an individual assignment. Work submitted must adhere to the University policy on Cheating‚ Collusion and Plagiarism. Introduction If Marketing’s function is to identify the needs of customers‚ then it is Operations Management which has the role of providing the required
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LEADSTAR COLLEGE OF MANAGEMENT AND LEADERSHIP TUTOR MARKED ASSIGNMENT (TMA) FOR OPERATIONS MANAGEMENT ASSIGNMENT WEIGHT: 50% STUDENT NAME Abreham Kelile Kaba ID LMBA0013/2014 BACTH 1ST Part I: Multiple Choice Questions (1 point each) Choose the best answer from the following Questions _C__Q1.One advantage of Just-in-Time (JIT) Management of stock is _____a. It reduces the need to plan and organize _____ b. it removes the need for delivery Quality Control _____ c. it reduces the cost of holding
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Industrial revolution to internet revolution Operations Management involves the design and management of an organization’s systems and processes. Here‚ organizations will be focusing on the creation and delivery of products and services. This includes such functions as capacity planning‚ inventory management‚ logistics management‚ production planning and control‚ resource allocation and total quality. Career opportunities exist in consulting‚ manufacturing‚ retailing‚ service organizations and government
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Assignment 4 1. Cu = 24-11 = $13 Co = 11-7 = $4 Critical ratio = 13/(13+4) = 0.7647 μ = 30‚000 σ = 10‚000 Using normal distribution function (=norminv(0.7647‚30000‚10000))‚ the optimum order quantity is 37‚216 jerseys to maximize profit. 2. Quantity = 32‚000 First‚ we normalize the order quantity to find the z-statistic z=Q-μσ=32‚000-25‚00010‚000=0.7 We then look up the standard normal loss function. The expected lost sale is given by. Lz=0.1429 Therefore‚ the expected lost sales
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BUS 325 Operations Management CPM & PERT Sample Problems #1 Suppose that a project requires the following activities and their respective activity times: 1. Complete the chart below (Round numbers to the second decimal place). Job No. Immediate Predecessors Times (weeks) Expected Time σ2 To Tm Tp A - 2 2 2 B A 1 2 3 C A 2 4 6 D B‚ C 1 3 5 E D 2 3 4 F C‚ D 1 2 3 G E‚ F 2 4 6 H C‚ F 1 1 1 I F‚ G‚ H 2 2 8 2. Construct the network diagram / Determine ES/EF &LS/LF.
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Predict rates of technological progress and innovation. * Demand forecasts * Predict the future demand for a company’s products or services. Since virtually all the operations management decisions (in both the strategic category and the tactical category) require as input a good estimate of future demand‚ this is the type of forecasting that is emphasized in our textbook and in this course. TYPES OF FORECASTING
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Operations management focuses on managing the processes of producing and distributing products and services. Operations activities often include product creation‚ development‚ production and distribution. It deals with all operations within the organization. Related activities include managing purchases‚ inventory control‚ quality control‚ storage‚ logistics and evaluations. The nature of how operations management is carried out in an organization depends very much on the nature of products or services
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Quinnipiac University School of Business FIN350 Global Financial Markets & Institutions Questions & Problems Set 5 Spring 2013 1. Explain why commercial banks are regulated and describe the major pieces of legislation enacted to prevent bank failures. Financial institutions are regulated because they provide products and services that the economy needs to function efficiently. Also they function in an environment where there is a great deal of asymmetric information‚ so they
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Internship Report On “HRM Practices in PRAN-RFL GROUP” Prepared for Md. Rakibul Haque Assistant Professor Department of Business Administration Dhaka International University. Prepared By Abu Mohammad Motasim Reza Roll: 38 EMBA program 29th Batch (4th Semester) Department of Business Administration Dhaka International University. Dhaka International University. Letter of Transmittal 10th October 2012 Md. Rakibul Haque Assistant Professor
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