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SMU- MBA Sem 2, Set 1

SMU- MBA Sem 2, Set 1

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Published by Alisha Arora
ASSIGNMENTS
MBA – 2nd SEM Subject Code – MB0044 Book ID – B1133 PRODUCTION & OPERATIONS MANAGEMENT Set – 1 

Q.1.

Explain in brief the origins of Just in Time. Explain the different types of wastes that can be eliminated using JIT.

Ans.

Just in time were developed to minimize wastage across the organization. If a firm is

optimistic about the demand, then that firm increases their planned inventories. On the other hand if the
ASSIGNMENTS
MBA – 2nd SEM Subject Code – MB0044 Book ID – B1133 PRODUCTION & OPERATIONS MANAGEMENT Set – 1 

Q.1.

Explain in brief the origins of Just in Time. Explain the different types of wastes that can be eliminated using JIT.

Ans.

Just in time were developed to minimize wastage across the organization. If a firm is

optimistic about the demand, then that firm increases their planned inventories. On the other hand if the

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Published by: Alisha Arora on Jan 23, 2012
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ASSIGNMENTS
MBA – 2nd SEMSubject Code – MB0044Book ID – B1133PRODUCTION & OPERATIONS MANAGEMENTSet – 1

 
Q.1. Explain in brief the origins of Just in Time. Explain the different types of wastes that canbe eliminated using JIT.Ans.
Just in time were developed to minimize wastage across the organization. If a firm isoptimistic about the demand, then that firm increases their planned inventories. On the other hand if the demand is weak when compared to the expectations, then that firm’s unplanned inventories arehigh. That means companies don’t keep a lot of excess inventory, and then manufacture a product asan order comes in. It is management philosophy of continuous and forced problem solving.The seven types of wastes to be eliminated according to
JIT
are :
1.
 
Over Production
Over production is to manufacture products before it is actually needed. If the demand for thatproduct decreases, the extra parts or products produced may not be useful or needed. Also overproduction results in high storage costs and is also difficult to detect defects. So, over productions isconsidered a waste.
  2.
 
 Inventory
Excess procurement or production builds up stock of materials which are not immediately use,this locking space and fund carrying heavy cost.
 
 3.
 
Waiting Time
Waste of time happen when goods are not moving or being processed. The operator, themachine or the part will either be not working or be worked upon. The duration is can be said to beunproductive and may create more serious consequences.
  4.
 
 Movement
Any unnecessary movement is a waste of energy; it causes blockages, disrupting movementsand delaying the flow of other items creating delays.
 5.
 
 Effort
The people, who work, do not make a study as to how the products on which they are making
 
 
are utilized and do not realize the purpose for which they are made. This lack of education will lead towaste of resources. Finally, they end up in shortage of resources when needed.
6.
 
 Defective products
 
The defective products lead to a tremendous loss to the company. This is because they use upthe same equipments, workmen and the time that would be used to make good products. Thusdefective products use up resources and result in losses.
7.
 
Over Processing
Some steps like unnecessary processing or production do not add value to the final output. As aresult, it is waste of all the inputs that go into the process.
Q.2. What is value engineering or value analysis ? Elucidate five companies which haveincorporate VE with brief explanation.Ans.
Value of engineering (VE) or Value Analysis is a methodology by which we try to findsubstitutes for a product or an operation.The concept of value engineering originated during the Second World War. It was developedby the General Electric corporations (GEC). Value Engineering has gained popularity due to itspotential for gaining high Returns on investment (ROI). This methodology is widely used in businessre-engineering, government projects, construction, assembling and machining processes, health careand environmental engineering, and many others. Value engineering process calls for a deep study of aproduct and the purpose for which it is used, such as the raw materials used; the processes of transformation; the equipment needed, and many others. It is also questions whether what is beingused is the most appropriate and economical. This applies to all aspects of the products.
1.
 
General Electrical Corporation (GEC)
The concepts of value engineering originated in 1947 in General Electricals corporation (GEC)When a substitute for asbestos for flooring had to be found. Specialized dealers could provide anequally good material at a lesser price.
 
Initially, the practioners were the people in charge of purchasing who tried to locate substitutematerial which would be equally good, if not better, at a lower price. This is the first and basicapproach to value engineering.The concept percolated to the manufacturing departments, engineers applied the sameprinciples and found that, they could use alternate materials, which were cheaper giving the same
 
 
performance. It was also fund that dimensions and tolerance could be altered without affecting theperformance of the part or the product. The investigations took them on the path of eliminating someoperations. The focus was on the value of each bit materials, each operation. This approach led to thedesign stage.
 2.
 
 Ashok Leyland 
In implementation of VA, Ashok Leyland changed gear material from phosphor bronze to aless expensive cast iron and eliminated frequent field complaint of gear seizure in trucks.
 3.
 
TVS
 T.V. Sundaram Lyenger (TVS) Limited is one of the largest automobile distributioncompanies in India.During the mid 1940 to 1960s, TVS based in Madurai was ranked as the best bustransportation system in India. It could manage to run the fleets for about 96% of the time.TVS used the VE approach to restore the mobility of buses that had broken down. Theystocked their garage with some critical assemblies of a bus. Whenever, a part or an assembly failed of a bus, they replaced it immediately with a new one, thus restoring mobility within a couple of hours.When compared to the traditional method, this approach has gained much more benefits to thecompany, it helped to save time, reduce cost, efficient, quicker, and competitive.
 4.
 
 MODI Xerox
 
Modi Xerox designed the VE-d low cost copier 1025 ST, which uses a single tray. Theadvantage of new design is that it is easy to operate and the cost is also very low.
 
 5.
 
TITAN 
Titan watches introduced new designs adopting a strategy of innovation.
Q.3. Explain different types of quantitative models. Differentiate between work study andmotion study.Ans.
There are different quantitative models.
1.
 
 Linear Programming:
 Linear programming technique is often used for optimizing a given objective like; profit orrevenue maximization, or cost outgo minimization. Distribution of the revenues is the critical issue,when there are limited resources and they have to meet competing demands.
 2.
 
Transportation Model:
 Transportation model is concerned with goods from manufacturing center or warehouseswhich have to be supplied to depots or retails outlets. The demand and supply position of the places

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