Operations Club conducted its second session on 22nd August 2012. The session was facilitated by Mr Kapil Vaish and Mr Avinash Saha, students of PGP’11-13 and majoring in operations. The session was attended by a bunch of operations enthusiast from PGP’12-14 batch. The session focused on giving a bird’s eye view of all the components of operations from an industrial perspective. An introduction to Mix Integer Linear Programming Model was also given to the attendees.
The session started with understanding the major components of Operations at a high level. The entire hierarchy and architecture of Supply Chain management was discussed. Enthusiasts were introduced to the concept of forecasting the need, master production schedule, material resource planning, capacity planning. The chronology of events was discussed in detail starting from the vendor finalization for supply of raw materials to the distribution of the final product to warehouses and retailers.
Thereafter, an introduction to Mix Integer Linear Programming model was made wherein members solved a sample optimization problem in excel using Solver. The example threw light on how the constraints are identified for a given problem and entered into the solver to achieve an optimum solution.
The session helped the attendees in understanding what exactly an operation is and to a high extent exposed them to the kind of challenges that entail this area of management.