Internal Assignment No.

1
Q1. Ans:

(i)

Value engineering (VE) is systematic method to improve the "value" of goods or products and services by using an
examination of function. Value, as defined, is the ratio of function to cost. Value can therefore be increased by either
improving the function or reducing the cost. It is a primary tenet of value engineering that basic functions be
preserved and not be reduced as a consequence of pursuing value improvements.[1]

The reasoning behind value engineering is as follows: if marketers expect a product to become practically or
stylistically obsolete within a specific length of time, they can design it to only last for that specific lifetime. The
products could be built with higher-grade components, but with value-engineering they are not because this would
impose an unnecessary cost on the manufacturer, and to a limited extent also an increased cost on the purchaser.
Value engineering will reduce these costs. A company will typically use the least expensive components that satisfy
the product's lifetime projections.

Due to the very short life spans however which is often a result of this "value engineering technique" planned
obsolescence has become associated with product deterioration and inferior quality. Vance Packard once claimed
this practice gave engineering as a whole a bad name, as it directed creative engineering energies toward short-term
market ends.

(ii)

Contract Lifecycle Management is process of managing contracts through a well documented procedure and process
that allows you to effectively manage various types of contracts; their terms, negotiation factors and renewals. The
primary goal for contract management within any company is to ensure that commitments and obligations to
customers and suppliers are clearly visible to the relevant people in the organization and that they are executed
upon.
Contracts: The foundation to every business relationship
Contracts dictate every aspect of key business strategies and relationship.

From an impact perspective, failure to meet these obligations can result in:

 Missed savings

 Heavy fines

 Costly litigation

 Broken relationships

 Supply chain gaps

 Loss of customers

(iii)

Today many organizations struggle with manual, disconnected or under-funded capacity management strategies
that expose their organization to unnecessary risk. Luckily, in this inaugural report, Gartner not only outlines some
of the common capacity management challenges organizations are facing, they also outline recommendations for
improving both the processes and technologies that are critical to creating a robust, successful capacity
management strategy.
In addition to assessing the market conditions for capacity management, this report provides an outline of
representative capacity management vendors, including BMC. In my role as Product Manager for TrueSight Capacity
Optimization, I’ve spent years obsessing over how to present capacity management information to benefit a broader
audience, so I was thrilled to see that we were included in the Gartner report.

Q1: Ans:
Quality control (QC) is a procedure or set of procedures intended to ensure that a manufactured product or
performed service adheres to a defined set of quality criteria or meets the requirements of the client or customer.

QC is similar to, but not identical with, quality assurance (QA). QA is defined as a procedure or set of procedures
intended to ensure that a product or service under development (before work is complete, as opposed to
afterwards) meets specified requirements. QA is sometimes expressed together with QC as a single expression,
quality assurance and control (QA/QC).

In order to implement an effective QC program, an enterprise must first decide which specific standards the product
or service must meet. Then the extent of QC actions must be determined (for example, the percentage of units to be
tested from each lot). Next, real-world data must be collected (for example, the percentage of units that fail) and the
results reported to management personnel. After this, corrective action must be decided upon and taken (for
example, defective units must be repaired or rejected and poor service repeated at no charge until the customer is
satisfied). If too many unit failures or instances of poor service occur, a plan must be devised to improve the
production or service process and then that plan must be put into action. Finally, the QC process must be ongoing to
ensure that remedial efforts, if required, have produced satisfactory results and to immediately detect recurrences
or new instances of trouble.

This approach places an emphasis on three aspects:[citation needed]

1. Elements such as controls, job management, defined and well managed processes,[2][3] performance and
integrity criteria, and identification of records

2. Competence, such as knowledge, skills, experience, and qualifications

3. Soft elements, such as personnel, integrity, confidence, organizational culture, motivation, team spirit, and
quality relationships.

Q3: ANS:

Different Types of Material Handling Equipment

Material handling equipment encompasses a diverse range of tools, vehicles, storage units, appliances and
accessories involved in transporting, storing, controlling, enumerating and protecting products at any stage of
manufacturing, distribution consumption or disposal.

Categories of Material Handling Equipment

The four main categories of material handling equipment include: storage, engineered systems, industrial trucks and
bulk material handling.

Storage and Handling Equipment

Storage equipment is usually limited to non-automated examples, which are grouped in with engineered
systems. Storage equipment is used to hold or buffer materials during “downtimes,” or times when they are not
being transported. These periods could refer to temporary pauses during long-term transportation or long-term
storage designed to allow the buildup of stock. The majority of storage equipment refers to pallets, shelves or racks
onto which materials may be stacked in an orderly manner to await transportation or consumption. Many
companies have investigated increased efficiency possibilities in storage equipment by designing proprietary
packaging that allows materials or products of a certain type to conserve space while in inventory.

Examples of storage and handling equipment include:

 Racks, such as pallet racks, drive-through or drive-in racks, push-back racks, and sliding racks

 Stacking frames

 Shelves, bins and drawers

 Mezzanines

Engineered Systems

Engineered systems cover a variety of units that work cohesively to enable storage and transportation. They are
often automated. A good example of an engineered system is an Automated Storage and Retrieval System, often
abbreviated AS/RS, which is a large automated organizational structure involving racks, aisles and shelves accessible
by a “shuttle” system of retrieval. The shuttle system is a mechanized cherry picker that can be used by a worker or
can perform fully automated functions to quickly locate a storage item’s location and quickly retrieve it for other
uses.

Other types of engineered systems include:

 Conveyor systems

 Robotic delivery systems

 Automatic guided vehicles (AGV)

Industrial Trucks

Industrial trucks refer to the different kinds of transportation items and vehicles used to move materials and
products in materials handling. These transportation devices can include small hand-operated trucks, pallet-jacks,
and various kinds of forklifts. These trucks have a variety of characteristics to make them suitable for different
operations. Some trucks have forks, as in a forklift, or a flat surface with which to lift items, while some trucks
require a separate piece of equipment for loading. Trucks can also be manual or powered lift and operation can be
walk or ride, requiring a user to manually push them or to ride along on the truck. A stack truck can be used to stack
items, while a non-stack truck is typically used for transportation and not for loading.

There are many types of industrial trucks:

 Hand trucks

 Pallet jacks

 Pallet trucks

 Walkie stackers

 Platform trucks

 Order picker

 Sideloader

 Many types of AGV

Bulk Material Handling Equipment

Bulk material handling refers to the storing, transportation and control of materials in loose bulk form. These
materials can include food, liquid, or minerals, among others. Generally, these pieces of equipment deal with the
items in loose form, such as conveyor belts or elevators designed to move large quantities of material, or in
packaged form, through the use of drums and hoppers.

 Conveyor belts

 Stackers

 Reclaimers

 Bucket elevators

 Grain elevators

 Hoppers

 Silos

Internal Assignment No. 2

Q1: Ans:

(i)
The various stages in the process of planning are as follows:
1. Goal setting:
Plans are the means to achieve certain ends or objectives. Therefore, establishment of organizational or
overall objectives is the first step in planning.
2. Developing the planning premises:
Before plans are prepared, the assumptions and conditions underlying them must be clearly defined these
assumptions are called planning premises and they can be identified through accurate forecasting of likely
future events.
3. Reviewing Limitations:
In practice, several constraints or limitations affect the ability of an organization to achieve its objectives.
4. Deciding the planning period:
Once the broad goals, planning premises and limitations are laid down, the next step is to decide the period
of planning.
5. Formulation of policies and strategies:
After the goals are defined and planning premises are identified, management can formulate policies and
strategies for the accomplishment of desired results.
(ii)
Materials management is principally associated with the acquisition, control and use of materials needed
and flow of goods and services connected with the production process having some predetermined
objectives in view.
Concept of material management:
Materials Management is merely the process by which firms are supplied with the goods and services that it
needs to accomplish its objectives of buying, storage and movement of materials.
Materials Management has different functions that include planning, procuring, storing and providing the suitable
material of precise quality, right quantity at right place in right time in order to organize and plan the production
activity in an integrative manner for business undertaking.
(iii)
For the purpose of this document, Tyco Electronics refers to the portion of the Tyco Electronics Corporation that
operates in North America .Tyco Electronics Corporation is one of the major operating units of Tyco International
Ltd. This Total Quality Management Process provides the basis for analyzing customer requirements, defining the
processes that contribute to the achievement of a product or service that is acceptable to the customer, and
provisions for keeping these processes in control. In recognition of the varying organizational structures and needs
of the Business Units, this quality manual may be supplemented by additional detailed procedures. Such additional
procedures may not be less stringent than those provided herein unless specifically required in the customer
contract; records shall be kept of such contract exceptions.
(iv)
To begin the process, you and the employee will collaborate on the development of performance standards.
You will develop a performance plan that directs the employee's efforts toward achieving specific results, to
support organizational growth as well as the employee's professional growth. Discuss goals and objectives
throughout the year, providing a framework to ensure employees achieve results through coaching and
mutual feedback. At the end of the rating period, you will appraise the employee's performance against
existing standards, and establish new goals together for the next rating period.

As the immediate supervisor, you play an important role; your closest interaction with the employee occurs
at this level.
 Observation and Feedback (Coaching)
 Other Resources
 Performance Appraisal
 Performance Standards
 Training Resources

Q1Ans:
Buying a business is one of the biggest commitments you can make in your life. Business ownership involves
an incredible contribution of time, sweat and money, and you constantly need to balance various demands
and risks to ensure growth.
A key component in any successful business is making sure you follow the right process before getting
started. Below are the five key steps you should take when you are about to buy a business:
1. Do Your Research
The first step is to properly research each prospective business to get a very clear sense of the business’
strengths and weaknesses and what it is exactly you will be buying. In other words, kick the tires and see
what is under the hood.
For example, you should request the company’s:
 Financial statements
 Lists of customers and suppliers
 List of employees, including a breakdown of salaries and years of service
 Details of any major contracts necessary for the operation of the business, including the lease of any
premises;
 List of all equipment and assets of the business
 Any related debts, licenses and liabilities.

Before sharing this sort of detailed information with you, the seller may insist that you sign a non disclosure
agreement to prevent you from using it for any purpose other than buying the business. Any documents you
 are asked to sign at this early stage should be shown to a lawyer to ensure you are not making any unwise
legal commitments.
When reviewing the content, use the available government databases to verify any information the
information provided is correct. These searches will show, for example, whether there are any liens on the
business assets; whether there are unpaid taxes; whether there are ongoing lawsuits or human rights
complaints; and whether certain buildings or motor vehicles are in fact owned by the seller.
Q2 Ans:
A warehouse management system (WMS) is a software application that supports the day-to-day operations in a
warehouse. WMS programs enable centralized management of tasks such as tracking inventory levels and stock
locations. WMS systems may be standalone applications or part of an Enterprise Resource Planning (ERP) system.
Early warehouse management systems could only provide simple storage location functionality. Current
WMS applications can be so complex and data intensive that they require a dedicated staff to run them.
High-end systems may include tracking and routing technologies such as Radio Frequency Identification
(RFID) andvoice recognition.
No matter how simple or complex the application is, the goal of a warehouse management system remains
the same -- to provide management with the information it needs to efficiently control the movement of
materials within a warehouse.
At a bare minimum, a WMS should:
 Have a flexible location system.
 Utilize user-defined parameters to direct warehouse tasks and use live documents to execute these tasks.
 Have some built-in level of integration with data collection devices.
Do You Really Need WMS?
Not every warehouse needs a WMS. Certainly any warehouse could benefit from some of the functionality
but is the benefit great enough to justify the initial and ongoing costs associated with WMS? Warehouse
Management Systems are big, complex, data intensive, applications. They tend to require a lot of initial
setup, a lot of system resources to run, and a lot of ongoing data management to continue to run. That’s
right, you need to "manage" your warehouse "management" system. Often times, large operations will end
up creating a new IS department with the sole responsibility of managing the WMS.
The Claims:
 WMS will reduce inventory!
 WMS will reduce labor costs!
 WMS will increase storage capacity!
 WMS will increase customer service!
 WMS will increase inventory accuracy!