Discuss the various inventory management/control techniques

15 Feb

Operations Management

1. Discuss the various inventory management/control techniques prevalent in the industry. Discuss how some of these techniques would be applicable to a retail store in the FMCG sector for effective management of their inventories; i.e soaps, household supplies, etc. (you can assume inventories of your choice to explain).

2. List and explain in brief the various types of plant layout concepts in operations management, highlighting the objective, considerations of a good layout design. Give examples on where each of these types can be employed respectively. Briefly explain a layout for a Banking branch operations (mention the type of layout applicable).

3. Assume you are a part of the Operations team in an automobile manufacturing setup. You are also working in coordination with other departments. Discuss the following aspects of the operations of your organisation.

a. Define Quality & list and discuss in brief the various dimensions of quality in operations.

b. Discuss the concept of EOQ in brief. Using the data below, find EOQ, and the reorder point. Annual Demand: 15,000 units; Weeks Operating: 50 weeks/year; Ordering Costs: Rs. 60/order & Holding Costs: Rs. 7/unit/year; Lead-Time: 5 weeks & Safety Stock: 250 units.

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