DBB3111 PRODUCTION AND OPERATION MANAGEMENT

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Description

SESSION JUNE/july 2023
PROGRAM Bachelor of business administration (BBA)
SEMESTER V
course CODE & NAME DBB3111 production and operation management
CREDITS 4
Number OF ASSIGNMENTS & Marks 02

30 Marks each

 

Assignment Set – 1

 

  1. Define production process. Further discuss the importance of production management for organization

Ans 1.

Production Process: The production process refers to a series of systematic steps required to produce a product or service. It begins with procuring the raw materials and ends with the final product ready for sale. This process involves various stages, including design, planning, coordinating, and executing. The exact stages and specifics depend on the nature of the product, industry, and technology available. Typically, it encompasses activities like sourcing and procurement of raw materials, processing, assembly, quality control, packaging, and distribution.

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  1. Define forecasting. Discuss elements, importance and objectives of forecasting 10

Ans 2.

Definition Forecasting

Forecasting refers to the process of predicting future events, values, or trends based on historical and present data. It is a vital tool in many fields such as finance, manufacturing, marketing, economics, and even meteorology. At its core, forecasting endeavors to provide an understanding of what might happen in the future, thereby enabling organizations and individuals to prepare and plan accordingly.

Elements of Forecasting:

  1. Data Collection: One of the most fundamental elements of forecasting is the collection of accurate and relevant data. This could be past sales numbers, weather data, or any other relevant

 

  1. Define master production schedule. Discuss the main function of production planning and schedule

Ans 3.

Master Production Schedule (MPS):

The Master Production Schedule (MPS) serves as a strategic link between the planning processes and the manufacturing execution in a production environment. Essentially, the MPS represents a detailed plan of production, specifying what is to be produced, how much of it is to be produced, and when the production will take place. Usually maintained on a time-phased basis, typically in weekly buckets, this plan works as the primary interface between sales and production. The MPS translates the forecasted demand and firm orders into a production plan, considering capacity

 

Assignment Set – 2

  1. Explain the concept of supply chain. Further discuss the components and importance of supply chain

Ans 1.

Concept of Supply Chain

A supply chain refers to a system of organizations, people, activities, information, and resources involved in moving a product or service from suppliers to end customers. It encompasses the entire process of producing and delivering goods, from raw material extraction to the final product in consumers’ hands. By coordinating and integrating these flows both within and among companies, the supply chain seeks to match supply and demand efficiently, ensuring products are available when and where they are needed, thus optimizing costs and delivery times.

  1. Discuss the importance of plant location and layout. Further discuss various factors affecting the location.

Ans 2.

Importance of Plant Location and Layout

The location and layout of a plant play a pivotal role in determining the operational efficiency, cost-effectiveness, and profitability of a business. Here’s a deeper look into their significance:

  1. Cost Efficiency: The location of a plant can significantly affect the total cost of production. For instance, setting up a factory near the source of raw materials or close to the market can reduce transportation costs. A well-planned layout can help in minimizing material handling costs, reduce transportation time, and prevent unnecessary movement of goods.

 

  1. What do you mean by work study? Discuss its advantages, scope and models.

Ans 3.

Work Study and Its Implications

Definition: Work study refers to a systematic examination of methods of carrying out activities in order to improve the effective use of resources and to set up standards of performance for the activities being carried out. It can be viewed as a science of productivity enhancement, primarily by optimizing the way work is done. The two main techniques of work study are Method Study, which is concerned with finding better ways of doing things, and Time Study, which establishes standard times for tasks.