NMIMS MBA Operations Management Solved Answer Assignment
16
Oct
2024
Operations Management
1) As a business owner, one of the most critical decisions you will make is choosing a location for your business setup. What are the various decision criteria for deciding a location for a business setup, and how do they apply to setting up an electric vehicle charging station? Assume any size for the setup.
Introduction
The decision of where to establish the headquarters of one’s firm is essential for any entrepreneur. The site is necessary and can decide whether an organization is successful; conversely, making the wrong choice might fail the company. When it comes to building a charging station for EVs (electric vehicles), the location is one of the most important aspects to consider because it will help determine the popularity and success of the station.
Concept and application
Select a location based on the following criteria:
a) Accessibility
Accessibility is one of the most important considerations that must be examined before settling on a site for a new business. Before, both consumers and employees needed to have an easier time entering and exiting the location. A location suitable for an electric vehicle charging station is close to major thoroughfares, well-known destinations such as tourist attractions and shopping malls, and streets that see a reasonable amount of foot traffic.
Conclusion
We need to think about a variety of things while choosing a location to maximize our chances of success. For instance, do the demographics of the location appeal to the people who are our primary focus? Are we interested in locating a remote location for an office building or a vast plot that may house a manufacturing facility?
2) Explain in detail the various types of plant layout concepts that are available in operations management. Give examples of where each of these types can be employed respectively. Briefly explain a layout applicable for a cloud kitchen format vis-à-vis a dine-in restaurant, highlighting the good points and bottlenecks, if any.
Introduction
Plant layout can be defined as the most efficient physical arrangement, either existing or in plans of manufacturing facilities, that is, an arrangement of machines, service departments, and processing equipment to achieve the most excellent efficiency and coordination of the 4 M’s (Materials, Men, Methods, and Machines) in a plant. This can be defined as the most efficient physical arrangement, either existing or in plans of manufacturing facilities.
Concepts and applications
There are three primary types of plant layout in operations management.
a) Functional or process layout
b) Product or line layout
c) Stationary layout
d) Combination layout
e) Fixed position layout
Conclusion
When the facility’s location has been selected, the next critical challenge that the company’s management must confront is developing a viable strategy for the plant. It is essential for efficient operations and must share many characteristics with various issues. The effectiveness of the processes is impacted by how well the layout is designed.
3) A patisserie brand is planning to open a new mid-sized pastry shop near your locality. Considering their expertise and knowledge in manufacturing and branding their product offerings, they are confident of getting into the new pastry shop operations. You are required to suggest the team on the following points:
a) What strategy would the pastry shop adopt for an Aggregate Operation Plan of resources given a time frame of a year. (5 marks)
3a. Introduction
A business strategy can be defined as all of the decisions made and activities done by a firm to attain the broader vision. These decisions and actions can be taken individually or together. Even though it is easy to form, put into action, and describe, it differentiates a firm.
Concepts and applications
Pastry businesses must implement a cost-cutting approach that emphasizes their unique selling points, as stated in the question. It refers to a situation where a corporation or company offers different items or goods cheaper than its competitors. Compared to businesses that rely on a single strategy, those that incorporate two methods may be able to adjust considerably more quickly to changes in the surrounding environment.
Conclusion
We discussed the most effective commercial plan for the pastry shop’s brand. If it had this information, it would be easier for the company to enter a new market and increase its earnings by optimizing its business operations.
b) Discuss the concept of Q and P systems of ordering along with its issues in inventory control for the pastry shop
3b. Introduction
FIXED ORDER QUANTITY SYSTEM (Q SYSTEM)
The system with the fixed order quantity is called the Q system. When the amount of stock available hits the reorder point, an order for a predetermined portion is placed. The every-time order quantity of a particular substance is called the EOQ.
Concepts and applications
FIXED ORDER PERIOD SYSTEM (P SYSTEM)
In this system, a check is performed at predetermined intervals to determine each material or commodity’s stock or inventory status. The number of times evaluations are carried out varies from business to business.
Conclusion
The organizational structure and the operating procedures for regulating and maintaining the materials to be stored can be organized with the help of an inventory system.
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