Discuss the concept of inventory management

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Reference no: EM131508295

Please choose omani company.

Instructions to Student:

- Answer within a word limit of 2000 words with 10 % more/less will be accepted.

- Date of submission: 8th week of the semester, the day and time of scheduled class

- Submission form: Soft copy to be submitted through Moodle at Turnitin.

- Late submission shall be penalised as per the norms of MEC mentioned in the Module Information Guide.

- Plagiarism policy is as per the MEC guidelines as mentioned in the Module Information Guide.

- Kindly include references (Harvard style of referencing) at the end of the paper. Referencing and proper formatting carries 05 marks in total. (Minimum 8 journals - 8 references is required for this assignment)

Learning Outcomes to be assessed in this assessment

- Identify and solve decision problems related to the various operations functions, like Project Management, Project Plan Gantt Chart, Break Even, and Inventory Management.

- Differentiate the different techniques and use the appropriate technique in problem solving within operations management.

Answer all the questions using appropriate examples. All the questions carry equal marks

1. Explain the meaning of productivity, work out Single and Total Factor Productivity-TFP. Conclude if the organization sustains competitive operational advantage.

2. Explain the concept of ERP & MRP in the modern context and the importance of information technology for operation management.

3. Discuss the concept of Inventory Management, ABC classifications, advantages and disadvantages. (Selected organization will add value to the answer).

4. Draw and briefly explain project management life cycle.

Verified Expert

This is an individual assignment wherein different questions related to operations management are required to be answered. This is an operational management assignment having objective to learn various fundamentals of operations management. The learning outcome of this assignment is to solve the decisions problem in relation to various operations functions like, project planning, project management,break even analysis and management of inventory in an organization. The different techniques are discussed in this assignment and an appropriate problem solving technique is applied in order to learn the different fundamentals of operations management.

Reference no: EM131508295

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Reviews

len1508295

5/27/2017 2:10:24 AM

I want this assignment of 2000 words. Please follow the rubric marking carefully . Don't miss anything. Please choose Country - Omani any company if asked in the assignment.

len1508295

5/26/2017 1:58:11 AM

20 Marks Question 3 (Discuss the concept of Inventory Management) 17-20 1. At least two pages 2. Good Explanation what is Inventory Management with - one citation 3. Good Explanation what is the objectives of Inventory Management – one citation 4. Good Explanation of what types, purpose, and example of inventories 5. Good Explanation of what is ABC inventory class coding – one citation 6. Good Explanation of what are the ABC classifications and how it helps the organization 7. Example of any company uses ABC classifications system 20 Marks Question 4 (Draw and briefly explain project management life cycle) 17-20 1. At least two pages 2. Good Explanation what is Project Management with - one citation 3. Good Explanation what could be included in the Project management– one citation 4. Good Definition of Project life cycle and Steps 5. Good brief and discussion of the Gantt chart (Draw Gantt chart table) 6. Good discussion of Critical Path Analysis (CPA) of the project management

len1508295

5/26/2017 1:57:45 AM

20Marks Question 1 (Explain the meaning of productivity) 17-20 1. Two Full Page of information 2. Good Explanation of what is Productivity, one citation and references was given. 3. Good Explanation of what is Single Factor Productivity, one citation. 4. Good Explanation of what is Total Factor Productivity, one citation. 5. Good example on how Single & Total Factor Productivity work out can calculation 6.Good Calculations of Single & Total Factor Productivity 20 Marks Question 2 (Explain the concept of ERP & MRP) 17 - 20 1. One Full page of good explanation of MRP & ERP , two citations for each 2. Good Explanation why Operations need MRP & ERP functions 3. Good Example of MRP & ERP functions , one example each ( which company uses MRP & ERP) with explanation 4. Advantage & Disadvantage of MRP at least 6 5. Advantage & Disadvantage of ERP at least 6

len1508295

5/26/2017 1:57:18 AM

I want this assignment of 2000 words. Please follow the rubric marking carefully . Don't miss anything. Please choose omani company if asked in the assignment. 10 Marks Introduction 7 - 10 Very well provided, complete full page, Topic of discussion, objectives is clearly stated. 6 - 6.9 Very well provided, complete half page, Topic of discussion, objectives is clearly stated. 5 - 5.9 Very well provided, complete QTR page, Topic of discussion, objectives is clearly stated. 4 – 4.9 Average information, One Para, Topic of discussion, objectives is not clearly stated. 0 No Introduction Provided at all

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