Value driven approach to operations management


Attempt all the questions.

Section-A

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?

Section-B

Case Study

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?

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Operation Management: Value driven approach to operations management
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