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Define Operations management. Explain the key concepts of Operations management with a schematic diagram.

Distinguish between manufacturing and service operation with example.

What is strategic planning? Explain the role of models in strategic planning..

Briefly explain how service producers differ from goods producers in important aspects of their operations.

Explain what you understand by product-focused systems and process-focused systems.

Identify some major advantages of using models.

What types of models are most useful for operations management decision-making?

What factors contribute most to the complexity of a decision situation?

What is break-even analysis?

What is contribution?

11. What is a decision tree?

12. What is meant by 'phasing in' capacity?

13. Distinguish between design capacity and system capacity.

14. Explain different operations strategies in case of location choice for existing organization.

15. Summarize the key features of the more commonly used forecasting method.

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