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MBA Semester 2
MB0044 - Production and Operation Management
Q1. Write short notes on:
Environmental scanning as a basis for strategic decision making
Tools for implementation of operations
Differentiation strategies as a basis of decision making
Core competencies as a basis of decision making
Conclusion: Decision making is the most crucial management function where its members to
activities which have financial repercussions and affect the functioning of other departments
or divisions.
c. What are the cost implications of forecasting: Forecasting requires special efforts and
involves inputs from experts which cost a lot to the companies. Well-trained experts and
associations substantially invest in human resources and hence charge their clients for the
service rendered. Thus, forecasting done in-house or carried out externally requires
significant investments. Thus, it can be said that more the efforts put for forecasting, more
will be the cost of forecasting. Because of improved accuracy and better judgment, the
losses that would occur because of poor forecasting would decrease as more efforts are put
in for forecasting. Hence, higher the efforts, lower will be the losses. Because effort is a
direct function of forecasting, this cost goes up with increase in the forecasting efforts. Figure
depicts the forecasting cost implications graphically.
Moving averages
Exponential moving averages
Causal methods
Regression analysis
Input output model
Leading indicators
Simulations model
Economic models
Q4. What do you understand by line balancing? What happens if line balance does
not exist?
Q5. Explain the steps to set data in logical order so that the business process may be
defined.
Q6. Describe the post implementation review of a project. Explain the tools that may
be considered for post implementation review.
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