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Individual Assignment
On

Industrial Management and Engineering Economy-2024

 Assignment -1 (Max Mark-15-20%)

 Due Date: - 3, April 2024.

Individual work and you should submit with hard copy to my office.
Late work is not acceptable

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Questions
1. Discuss the universality of management concept by giving at least three examples?
2. Discuss why an understanding of management is important for engineers, give an
examples?
3. Take one organization as an example and list its main elements and discuss their main roles
in that organization.
4. The following data refers to the demand for the certain product for 12 consecutive years.
And 75% weight is given to the recent data and 15%, 10% weights are given to the previous
data.
Calculate
a). In simple moving average method
b). In weighted moving average method
Year 1 2 3 4 5 6 7 8 9 10 11 12
Demand 28 29 28 31 34 32 33 31 31 34 35 36

5. The following data table refers to the demand for the certain products for 10 consecutive
years using the line identify the forecast for 2025 and 2026. Find the coefficient of
correlation.
Year Demand
2014 20,000
2015 25,000
2016 26,000
2017 25,000
2018 30,000
2019 31,000
2020 32,000
2021 35,000
2022 30,000
2023 36,000
2024 37,000
6. Discuss about the forecasting approaches by giving examples.
7. Discuss on the factors that should be taken in to consideration while selecting plant
location?
8. Discuss on locational economics, and various costs which decide on the feasibility of the
locational economy of a given plant layout?
9. Discuss about advantages and disadvantages of Rural versus Urban plant sites; give
illustrative examples.