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Operations Management
A firm uses exponential smoothing with a very high value of alpha. What does this indicate with respect to the emphasis if placed on past data
Answer the following question.
Q1. Describe total quality management (TQM). (10 marks)
Q2. What are the major components of a production system? Give two examples. (10 marks)
Q3. Describe briefly the “Delphi Method”. (10 marks)
Q4. A firm uses exponential smoothing with a very high value of alpha. What does this indicate with respect to the emphasis if placed on past data(10 marks)
Q5. Is there a difference between forecasting demand and forecasting sales? (10 marks)
Q6. Ahmet grows tomatoes in his 100 by 100 meters garden. He then sells the crop at the local farmer’s market. Two summers ago, he was able to produce and sell 1200 kgs of tomatoes. Last summer, he tried a new fertilizer that promised a 20% increase in yield. He harvested 1350 kgs. Did the fertilizer live up to its promise? (10 marks)
Q7. “Expenditure’ incurred for advertising is wasteful. Its results are unpredictable”. Comment. (10 marks)
Q8. Explain Product Life Cycle in detail .How do Marketing strategies change as product moves. Through various stages of Life cycle. (10 marks)
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