Spring 2012 Master of Business Administration - Semester 4 : FOR ANSWERS contact us at assignmentssolution@gmail.com

Spring 2012
Master of Business Administration - Semester 4 OM0015 – Maintenance Management - 4 Credits (Book ID: B1340) Assignment Set- 1 (60 Marks) Note: Each Question carries 10 marks. Answer all the questions. 1. Briefly explain the maintenance systems that are practiced in production/service units by providing few examples. 2. What are the three stages in the lifecycle management of any machinery? Explain in brief the Life cycle management system

Explain inventory Management and Control. List the benefits of inventory control. Inventory Management and Control

Due to high costs involved in inventories, proper management and control is considerably vital and the action is always synonymous with material management. Due to the high costs involved in stocking of inventory, a proper management and control is vital and inventory management is in fact, synonymous with material management.

Inventory management (IM) involves the development and administration of policies, systems, and procedures for minimising the total costs. IM also helps in decision making on all related issues such as customer service requirements, production schedule and purchasing. IM stresses on decision making and the need for integrated information flow. Following are the factors which influence inventory management and control.

· Type of product.

· Type of manufacture.

· The volume of production.

Maintaining an optimum level of investment is the most important objective of inventory control. Based on the requirements, organisations use from simple to highly specialised mathematical models of inventory control.

State the objectives of production planning and control. Explain briefly the functions of planning in “Facility Planning” for production activities?

Manufacture planning and control involves the procurement and allocation of limited resources over a specified time horizon to carry out production activities so as to satisfy the demands of the customer. Planning and control problems are characteristically optimisation problems. Here, the objective is to come up with a plan that meets demand at a minimum cost or that fulfills the demand which maximises profit.

The manufacturing planning and control deals with the decisions of utilisation, acquisition, and resources allocation because it is important to satisfy the customer requirements in a cost effective and efficient way. Usually, decisions taken include the level of work force, production lot sizes, assignment of overtime, and sequencing of production runs.

Following are the essential functions/tasks of production planning.

Planning

Production planning is defined as the technique of anticipating every step in a long series of separate operations. It helps the entrepreneur to calculate the quantity of material, manpower, machinery, and capital required for producing a planned level of output in a specified time period.

Routing

The main purpose of routing is to find out the best and cheapest sequence of operations and to make sure that this order is exactly followed. Routing involves the following different activities.

· Evaluating the document to determine what components to make and what components to buy.

· Ascertaining the quality and type of material.

· Establishing the sequence of manufacturing operations.

· Determining lot sizes.

· Finding out the scrap factors.

· Analysing the cost of the article.

· Organising the different production control forms.

Scheduling

This means evaluating the time that would be required to carry out each function and also the time needed to perform the entire series. It is primarily concerned with the time element and priorities of a job. The model of scheduling differs from one job to another which is explained as below:

Production schedule: The main purpose of production schedule is to schedule the amount of work, which can be easily handled by the plant and equipment without any hindrance. It is not an independent decision, as it takes the following factors into account.