Production & Operation Management Essay

1521 words - 7 pages

Semester II Examination Papers

IIBM Institute of Business Management Semester-II Examination Paper Production and Operation Management Section A: Objective Type (30 marks) • • • This section consists of Multiple choice questions & Short Notes type questions. Answer all the questions. Part One questions carry 1 mark each & Part Two questions carry 5 marks each. MM.100

Part One: Multiple choices: 1. If the number of restrictions on sources be ‘a’ and the number of restrictions on destinations be ‘b’ then with the use of ‘stepping stone procedure’, the number of ‘used cells’ will be a. a+b+1 b. a+b+2 c. a-b-1 d. a+b-1 2. Value of smoothing coefficient ‘α’ lies a. Between 1 and ∞ b. ...view middle of the document...

Labor + Capital + Materials + Energy c. Capital d. Capital + Materials 8. Economic efficiency is given by a. Input /output b. Input /100 c. (Output-input)/input d. Output /input 9. This implies an effective management that ensures an organization’s long-term commitment to the continuous improvement of quality. a. Quality management b. Strategic management c. Total quality management d. Operations management 10. This techniques for improving productivity involves analyzing the operations of the product or service, estimate the value of each operation, and modifying (or) improving that operation so that the cost is lowered. a. Value engineering b. Time-event network c. Work simplifications d. Quality circles Part Two: 1. What are the different types of models in production and operation management? 2. Define ‘Depreciation’. 3. What do you understand by ‘Bias’? 4. What are ‘Learning curves’?

END OF SECTION A

IIBM Institute of Business Management

Semester II Examination Papers

Section B: Caselets (40 marks) • • • • This section consists of Caselets. Answer all the questions. Each caselet carries 20 marks. Detailed information should form the part of your answer (Word limit 200 to 250 words).

Caselet 1 COMPANY BACKGROUND The Bronson Insurance Group was originally founded in 1900 in Auxvasse, Missouri, by James Bronson. The Bronson Group owns a variety of companies that underwrite personal and commercial insurance policies. Annual sales of the Bronson Group are $100 million. In recent years, the company has suffered operating losses. In 1990, the company was heavily invested in computer hardware and software. One of the problems the Bronson Group faced (as well as many insurance companies) was a conflict between established manual procedures and the relatively recent (within the past 20 years) introduction of computer equipment. This conflict was illustrated by the fact that much information was captured on computer but paper files were still kept for practical and legal reasons. FILE CLERKS The file department employed 20 file clerks who pulled files from stacks, refilled used files, and delivered files to various departments including commercial lines, personal lines, and claims. Once a file clerk received the file. Clerks delivered files to underwriters on an hourly basis throughout the day. The average file clerk was paid $8,300 per year. One special file clerk was used full time to search for requested files that another file clerk had not been able to find in the expected place. It was estimated that 40 percent of the requested files were these “no hit” files requiring a search. Often these “no hit” files were eventually found stacked in the requester’s office. The primary “customers” of the file clerks were underwriters and claims attorneys. UNDERWRITING Company management and operations analysts were consistently told that the greatest problem in the company was the inability of file clerks to supply files in a speedy fashion....

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