Production Decision-Making and Optimization

Ajit Akini discusses his extensive experience in supply chain management, focusing on profitability enhancement through mathematical modeling and optimization. He provides insights into manufacturing operations, challenges in procurement, and the use of linear programming and regression models. Case studies in copper and aluminum industries illustrate practical applications. The video also covers inventory management, power optimization, and supply chain alignment, emphasizing the importance of end-to-end process improvements.

What year did Ajit Akini graduate from the Indian Institute of Management Ahmedabad?

• 2005

• 2000

• 1994

• 1989

What is a key factor that increases complexity in manufacturing operations?

• Reduced input variety

• Simplified processes

• Geographic dispersion

• Decreased scale

Why is it challenging for procurement people to evaluate the best input material?

• Limited supplier options

• Complexity of technical specs

• High costs

• Lack of technical knowledge

What is a common opportunity in multi-plant production scenarios?

• Deciding product mix per plant

• Centralizing production

• Outsourcing production

• Reducing product variety

In the copper smelting case study, what by-product can be used to produce fertilizer?

• Sulfur oxides

• Copper

• Aluminum

• Phosphoric acid

What method was used at the chemicals plant in Thailand for production planning?

• Correlation analysis

• Factor analysis

• Linear programming

• Regression modeling

What was the objective of the optimization model in the power generation case?

• Reduce turbine operation

• Increase coal usage

• Minimize power consumption cost

• Maximize power output

What categorization is more relevant for inventory holding norms in plant operations?

• 123

• ABC

• VA

• XYZ

Which tool is NOT mentioned as being used in the decision support models?

• Linear programming

• Machine learning

• Regression modeling

• Operations research