MBA 1ST Year Material and Inventory Management Short Question Answers: – In this Post you will find MBA 1 year related to important questions related to the answer such as the Operation Concept Answer and many other important questions. Short Questions are answered in section B
SHORT ANSWER QUESTIONS
Q.1. What are the components of production planning?
Ans. The main components of production planning are as follows:
1. Estimating: Estimating manpower, machine capacity and material required (bill of material is the basis) to meet the planned production targets are the key activities before budgeting for resources. For example, production budget is the basis for materials budget, capital equipment budget and manpower budget.
2. Routing: Refer to Section-A, Q.3.
3. Scheduling: Refer to Section-A, Q.6.
4. Loading: Refer to Section-A, Q.14.
Q.2. Why is production planning important? Ans. Production planning broadly offers the following benefits:
1. Clarity in Objectives and Direction: Production planning with clarity in objectives provide clear direction to persons in the organisation who are responsible for implementing the various sources of action. It has been realised that persons perform better if they know clearly what they are expected to do.
2. Effective Utilisation of Resources: Production planning results in effective utilisation of resources, plant capacity and equipments. This results in low cost and high returns for the organisation.
3. Reduces the Production Costs: Production planning makes optimum utilisation of resources and it minimises wastage. It also maintains optimum size of inventories.
4. Discipline: Production planning brings discipline in the organisation in terms of effective use of manager’s time. It induces a logical thinking process detailed with tasks that are scheduled.
5. Organisational Effectiveness: Production planning results in organisational effectiveness in terms of achieving its objectives within the given resources.
6. Minimise Wastage: Production planning minimises the wastage of raw materials with the use of inventory methods and inventory control system.
7 Results in Consumer Satisfaction: Production planning helps to give a regular supply of goods artrices to the consumers at the par prices. It results in consumer satisfaction.
8. Improved Quality: Production planning facilitates quality improvement because the production is checked regularly.
MBA 1ST Year Material and Inventory Management Short Question Answers
Q.3. What are the steps involved in routing?
Ans. Steps in Routing : The various steps involved in routing are:
1. Analyse the Product: The finished product is analysed and broken into number of components required for the product.
2. Make and Buy Decision: It means to decide whether all components are to be manufactured in the plant. Make and buy decision depends upon the workload in the plant already existing, availability of equipment, labour and economy considerations.
3. Material Form, Shape and Quantity: When a product is the production goals designed, the designer specifies the materials to be used to make economically, efficiently and the product and shows the finished shapes of the component. It is
in time. the duty of production planner to decide:
(a) Material form, (b) Shape of material, (c) Materials quality.
4. Planning the Operations: Planning the series of operations necessary to make the component, to choose appropriate work centres, where the operation is to be carried out and plan the sequence of operations to see that production is carried out without any interruption.
5. Routing or Operation Layout: This is a very important document during production. The most important information to be presented in route sheet is:
(a) Every transfer of material to be shown.
(b) Every work centre and the operation to be done on the work centre, tools used, speed, depth of cut to be used and the time to be taken should be shown.
(C) Any inspection to be done separately, should be clearly shown.
6. Planning of an Assembly: Planning of an assembly follows lines similar to those described above for component. Again the planner had to recognise all the elements involved, combine them into operations, decide the workstations to be used and choose the ideal sequence of operations.
Q.4. Explain master production scheduling.
Ans. Master Production Scheduling (MPS): The master production schedule formalises the production plan and translates it into specific end item requirements over a short to intermediate planning horizon. The end items are then exploded into specific material and capacity requirements by the Material Requirement Planning (MRP) and Capacity Requirement Planning (CRP) systems. Thus, the MPS essentially drives the entire production and inventory system.
Major Inputs: The major inputs to the master production schedule are:
1. Forecasts of demand of end items and service parts.
2. Customer orders, i.e. including any warehouse and interplant needs.
3. Inventory on hand from the previous period. Forecast demands are the major input for make to stock items. However, to be competitive, many make to order firms must anticipate orders by using forecasts for long lead time items and by matching the forecasts with customer orders as the orders become available. Time Fence: Two time fence can be identified in MPS, i.e. a demand time fence and a planning time fence.
1. A demand time fence is the portion of master schedule during which no changes can be made to the schedule without management approval.
2. A planning time fence is the portion of master schedule during which changes will not automatically be made to accommodate demand. This gives the master scheduler a manageable
base to work from and still allows discretion in over-riding the constraint.
Q.5. What is ‘line of balance”? Explain the line of balance technique.
Ans. Line of Balance: It means to know how tasks are to be assigned to workstations, so that the pre-determined goal is achieved. Minimisation of the number of workstations and maximization of the production rate, are the most common goals. This paper presents the review of different works
in the area of assembline balancing and tries to find out latest developments and trends available in mndustries in order to minimise the total equipment cost and number of workstations. Thus, line balancing technique is used to achieve
1. The minimisation of the number of workstations
2. The minimisation of cycle time
3. The maximisation of workload smoothness
4. The maximisation of work relatedness.
Techniques or Methods of Line of Balance: There are four methods/techniques ofline of balance:
1. Heuristic Method: Refer to Section B, Q.7.
2. Linear Programming Method: Refer to Section A Q.20
3. Mathematical Modelling: Refer to Section-AQ.13.
4. Computer Aided Programming: Refer to Section-2.0.8.