Logistics management June 2021

 

Logistics management

June 2021

 

1. One of the benefits of green manufacturing is that it improves the long-term stability of yourbusiness. Companies nowadays are starting to become more and more conscious about theenvironment. What steps would you incorporate in logistic planning to initiate greenmanufacturing in your organization? Explain some examples.

 

Answer: Common public, business organisations and governments are raising concerns on the increasing environmental issues. Eco-marketing, global warming, recycling, waste dumping, energy preservation, pollution and other environmental issues have become hot topics of debate for people, governments and business firms across the globe. People and governments blame business organizations for their unsustainable business practices that adversely affect the environment. At the same time governments are also blamed for not taking strict measures to curb the raising Its Half solved only

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2. Transportation is the operational area of the supply chain that geographically positionsinventory. Explain how you would accomplish transportation requirements and what will beyour transportation system objective?

 

Answer: Transportation of merchandise is a very important aspect in logisticsmanagement. On an average, transportation cost accounts for more than30% of the total logistical cost of a retail enterprise. Therefore, retailenterprises need to select transport systems strategically and use thesystem in the most efficient manner so that the total logistical cost isminimised. Retail enterprises may adopt a number of transportationsystems. However, different types of transportation systems involve differentcosts. For example, transportation of merchandise by air may be reliableand time saving; but it is expensive. On the other hand, sea shipment istime consuming, but less expensive in

 

3. Maxx Logistics had planned 500 consignments for the year 2020 but the actual data revealthatit has booked only 300 consignments and out of which 250 were actually delivered. The reportalso suggests that 5 consignments were damaged in transit.

a. What would be the service ratio and breakage ratio of Maxx Logistics?

b. Suggest some advanced form of packaging that Maxx Logistics can use to reduce its storage/transit damages.

 

Answer: a) Service ratio = No. of consignments booked/year

                                    No. of consignments planned/year

 

= 300/500

 

= 0.6

 

Breakage ratio

 

Decision analysis and modelling June 2021

 

Decision analysis and modelling

 

June 2021

 

 

1. Critically differentiate between Heteroscadasticity, Autocorrelation and Multicollinearity with suitable examples.

 

Answer: Heteroscedasticity

Heteroscedasticity occurs more often in datasets that have a large range between the largest and smallest observed values. While there are numerous reasons why heteroscedasticity can exist, a common explanation is that the error variance changes proportionally with a factor. This factor might be a variable in the model.

 

In some cases, the variance increases Its Half solved only

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2. Explain the various approaches used for Investment Analysis.

 

Answer: Capital budgeting decisions are the most important decisions in corporate financial management. These decisions make or mar a business organisation. These decisions commit a firm to invest its current funds in the operating assets (i.e. long-term assets) with the hope of employing them most efficiently to generate

 

3.a. In formulation of Linear Programing problems, we encounter various types of constraints. Explain the constraints that are dealt with in LPP.

3.b. In context of LPP formulation, explain the concept of decision variables with suitable examples.

 

Answer: a) Linear programming focuses on obtaining the best possible output (or a set of outputs) from a given set of limited resources. Minimal time and effort and maximum benefit coupled with the best possible output or a set of outputs is the mantra of any decision-maker. Today, decision-makers or managements have to tackle the issue of allocating limited and scarce resources at various levels in an organisation in the best possible manner. Man, money, machine, time and technology

 

Monitoring & Controlling Projects June 2021

 

Monitoring & Controlling Projects

 

1.      What do we mean by Project Risks? Please identify different types of risks associated with projects and what are the means to mitigate them. Discuss. (10 Marks) – 800 Words

Answer:

INTRODUCTION:

Project risks are basically an unexpected situation which hit the deliverables and make them sometimes incapable of completing and submitting the projects on time. Being a project manager who has all the responsibility that all the details about the project must be submitted and completed on time, he must even be capable of handling these unexpected circumstances, which can lead to either success or failure of the project.  

PROJECT RISKS & DIFFERENT Its Half solved only

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2.      Critical Path Method is a deterministic way of scheduling projects but PERT method is a probabilistic way. Discuss the advantages and limitations of both methods. (10 Marks)  –

Answer:

INTRODUCTION:

There are various methods involved in project management. The critical path method is one such method. This method defines a series of tasks, which made it a large task in itself that are to be fulfilled in order to start and conclude a project. These tasks involved in this are referred to as critical tasks, which, if delayed, the whole project will get delayed. This method helps in determining the total time duration required to complete the project. PERT (Project Evaluation and Review Technique) is a tool that

 

3.      3.a. A Project is scheduled as follows:

Activity                       Optimistic Time         Most Likely Time      Pessimistic Time

A.                                5 days                                     6 days                                     7 days

B.                                9 days                                     12 days                       15 days

C.                                6 days                                     7 days                                     9 days

D.                                3 days                                     5 days                                     7 days

E.                                2 days                                     4 days                                     6 days

 

Using PERT Method Calculate:

 

1. Estimated Time to Complete the Project

2. Probability that the Project will be completed within 35 days?

3. Standard Deviation of the Project

4. Probability that this project will take more than 35 Days to complete?

 

Use Z table for reference (cumulative) (5 Marks)

 

Answer:

INTRODUCTION:

PERT is a probabilistic method where the activity time represented by a probability distribution. This distribution of activity is based on three different times estimate. Optimistic time refers to the smaller time required for completion of project. Most likely time is the normal time required for completion of the project. Pessimistic time is the largest time for the completion of the project.

COMPUTATION OF QUESTIONS:

a)      Estimated Time to complete the

Project Planning & Scheduling June 2021

Project Planning & Scheduling

 

1. In ABC Ltd. top management wants to develop new business market in South India Region. This initiative was taken-up as a project in ABC Ltd. With the help of this example, explain the phases of project life cycle. Include specific actions a project manager has to take to add value to the project during all the phases. Also for this case, give your opinion about the most important phase in terms of adding value to the project. (10 Marks)

Answer:

INTRODUCTION:

The series of steps that a project goes through from start to finish is known as the project life cycle. The administration and numerous other considerations such as the needs of the organization participating in the project, the design of the project, and its implementation area decide the number and sequence of the cycles. The phases are time-constrained and have a clear start, finish, and control point. The project lifecycle can be described and adjusted according to the organization's requirements and characteristics. If any project has a distinct beginning and end, the specific goals, deliverables, and activities differ greatly. Regardless of the individual work involved, the lifecycle establishes the fundamental basis for the activities that must be taken in the project. Predictive or plan-driven alternatives to agile or change-driven approaches are all possible project Its Half solved only

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2. In ABC Ltd. top management wants to develop new business market in South India Region. This initiative was taken-up as a project in ABC Ltd. Considering this example, identify around 8-10 activities for this project and demonstrate the types of relationships used in Precedence Diagramming Method (PDM) with the help of these activities. (10 Marks)

Answer:

INTRODUCTION:

The Precedence Diagramming Method (PDM) is a technique for designing a project schedule network diagram that uses nodes to represent tasks and associates them with projectiles that highlight dependencies. This approach is also known as the activity-on-node method (AON). Project management entails various functions, such as project preparation, product scope determination, expense

3. In ABC Ltd. is in process of developing a new model for their product (Bluetooth Speakers). This initiative was taken-up as a project in ABC Ltd. Considering this case, answer the following questions.

a. Prepare a functional project organization structure (with at least 2 more levels below the project manager). Highlight which position (other than project manager) will be very important in your proposed structure. Give the justification for the same.           (5 Marks)

 

Answer:

INTRODUCTION:

A functional organizational structure is made up of project team members who are assigned to various organizational, functional units. Human Resources, Finance, Marketing, Sales, Operations, IT, Administration, and other functional divisions make up a traditional enterprise. Specific organizational unit heads can have other general administrators operating under them and reporting directly to them in a broad