Attempt all the questions.
Question1)a) Explain the value driven approach to Operations Management.
b) What are the major decision-making roles of Operations Manager? Describe giving examples.
Question2)a) Compare Goods and Services in relation to Operations Management
b) Describe the following:
i) Concurrent Engineering
ii) DFM and DFX
Question3)a) Describe various types of processes with suitable examples.
b) What are the factors to be kept in mind while locating a steel plant in India?
Question4)a) Compare various types of layouts giving examples.
b) What are the advantages and disadvantages of incremental capacity changes and large capacity changes?
Biltmore manufacturing has developed the promising new product. The firm’s management faces three choices: it could sell idea for new product to a company for $20,000, it could hire a consultant to study market and then make a decision, or it could arrange financing for building a factory and then manufacture and market the product.
The study would cost Biltmore $10,000, and its management believes that there is about a 50-50 chance that favorable market would be found. If the study is unfavorable, management figures that it could still sell idea for $12,000. If the study is favorable, it figures that it could sell idea for $40,000. But even if the favorable market is found, chance of the ultimately successful product is about 2 out of 5. A successful product would return $500,000. Even with the unfavorable study, a successful product could be expected about once in every ten new-product introductions. If Biltmore’s management decides to manufacture product without the study, it figures there is only a 1-in-4 chance of its being successful. A product failure costs $ 100,000. What must Biltmore do?