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Posted: August 5th, 2022

Economic Ordered Quantity (EOQ)

NMIMS Global Access
School for Continuing Education (NGA-SCE)
Course: Operations Management
Internal Assignment Applicable for September 2022 Examination
Assignment Marks: 30
Instructions:
• All Questions carry equal marks.
• All Questions are compulsory
• All answers to be explained in not more than 1000 words for question 1 and 2 and for question 3 in not more than 500 words for each subsection. Use relevant examples, illustrations as far as possible.
• All answers to be written individually. Assignment help – Discussion and group work is not advisable.
• Students are free to refer to any books/reference material/website/internet for attempting their assignments, but are not allowed to copy the matter as it is from the source of reference.
• Students should write the assignment in their own words. Copying of assignments from other students is not allowed.
• Students should follow the following parameter for answering the assignment questions.
For Theoretical Answer
For Numerical Answer
Assessment Parameter Weightage Assessment Parameter Weightage
Introduction 20% Understanding and usage of the formula 20%
Concepts and Application related to the question 60%
Procedure / Steps 60%
Conclusion 20%
Correct Answer & Interpretation 20%
1. What are various decision criteria for deciding a location for a business setup? Explain these decision criteria with reference to a location decision for setting up a textile manufacturing plant. (10 Marks)
NMIMS Global Access
School for Continuing Education (NGA-SCE)
Course: Operations Management
Internal Assignment Applicable for September 2022 Examination
2. Define and explain the term ‘Operations Management’. Explain the role of an Operations Managers in their interface with other functions in an organisation. Give relevant examples from a Retail Store Operation. (10 Marks)
3. Many business organizations have operations in which inventory management is a daily and constant process. Managing a production setup (say an automobile manufacturing or service shop) is one such business, wherein the procurement and managing various inventory is a very strategic process. Explain the following concepts (with atleast one example) in the Operations of the business, and conclude how relevant is it in the business?
a. Economic Ordered Quantity (EOQ) (5 Marks)
b. Define Quality and list and discuss in brief the various dimensions of quality in operations (5 Marks)

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