explain the functions and role of value analysis

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• Material Management
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• Material Management
•  
• SECTION A- (10X220 MARKS)
• Answer any ten questions.
• All questions carry equal marks.
• Q1. What is inventory?
• Q2. Define Inventory control?
• Q3. What is inventory carrying cost?
• Q4. What is reorder level?
• Q5. What is hand to mouth purchase?

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• Q6. What are blanket orders?
• Q7. What is scrap yard?
• Q8. Define Dispatch?
• Q9. Define standardization principle?
• Q10. What is material transfer note?
• Q11. What is time value?
• Q12. What is Quality manual?

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• SECTION B (2X510 MARKS)
• All questions carry equal marks
• Q1. Write short notes on any  four of the
  following
• (a) Integrated Materials Management
• (b) Problems and risks in vendor networking
• (c) Manufacturing Resources Planning (MRP II)
• (d) Use of OR techniques in Materials Management
• SECTION C (5X420 MARKS)
• Answer any five questions
• All questions carry equal marks
• Q1.Explain the objectives of materials
  management?
• Q2.How will you classify materials in a
  manufacturing concern?

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• Q3.How is the reorder point determined? What is
  the significance of reorder point to the
  production manager?
• Q4.What assumptions are necessary to use the
  basic economic order quantity?
• Q5.Explain the procedure to be followed to the
  purchase of a item until the payment of bill.
• Q6.What are the duties and responsibilities of
  store keeping?
• Q7.explain the functions and role of value
  analysis?
• Q8.What precautions are to be taken to prevent
  out break of fire in storehouses?

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• SECTION D- (2X510 MARKS)
• Answer any two questions
• All questions carry equal marks
• Q1.Compare and contrast with ABC analysi with FSN
  analysis?
• Q2.Explain the steps involved in systematic
  material handling analysis.
• Q3.Explain the different methods of buying goods
  from abroad.
• Q4.Discuss the criteria to be taken in to account
  in vendor rating.

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• Section E  (5X840 MARKS)
• Q1. It the responsibility for maintaining the
  quality of the product and incurring less cost on
  its production is the responsibility of the
  production/operation and deciding the price of
  the product and finding the customers that will
  buy it comes under marketing, what does the
  materials management function do?
• Q2 . What is the need for International Purchase?
  Discuss the procedure and problems in
  International Purchase.
• Q3. Differentiate between independent and
  dependent demand inventory. Dependent demand
  inventory items do not need to be forecast. Why
  not? Explain with the help of examples?

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• Q4. If you reduce WIP then you expose many
  organizational bottlenecks. Comment on this
  statement. Also, state the reasons for your
  agreement/disagreement.
• Q5. What are the objectives of codification,
  standardization and simplification? How does
  standardization lead to variety reduction?
  Discuss the advantages and disadvantages of
  Standardization.
• Q6. Explain how a performance appraisal system
  can be used in the context of materials
  management. What are the metrics of performance
  appraisal in materials management?
• Q7. List the major advantages and short comings
  of FIFO, LIFO, and Average methods of stores
  evaluation. Under what conditions are the three
  inventories flow methods essentially equivalent?

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