Define and briefly explain various Transport Systems, Costs and Considerations, Freight Agents, Methods of Payments, Counter trade

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Define and briefly explain various Transport Systems, Costs and Considerations, Freight Agents, Methods of Payments, Counter trade

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QUESTION ONE
Global Operations Managers are not Gamblers, but they are decision makers. To achieve the goals of their organisations, Managers must understand how decisions are made and know which decision tool to use;
(a) Identify and briefly explain the Six (6) steps that will be followed or considered in order to arrive at a good decision in Operations Management                                                     [5 Marks]
(b) There are Two (2) fundamental decision making areas in Operations Management decision paradigms. Elucidate the Two (2) in terms of the types and the symbols used by giving examples of decision tree, decision table techniques and the Phillip’s Poker decision process             [ 10 Marks]
(c) There are Three (3) decision – making environments namely; Decision making under uncertainty, Decision making under risk and decision making and certainty. Briefly explain how these environments present themselves and methods employed considering the maxims of Maximax, Maximin and Equally likely (Under Uncertainty), Expected Monetary Value – EMV (Under Risk) and Expected Value of Perfect Information – EVPI (Under Certainty).                                     [10 Marks]
QUESTION TWO
Global Operations Management is supported by Strategic Supply Chain Management in many ways. Elucidate the following;
(a)List and briefly define/describe the Five (5) Components of Strategic Supply Chain Management by also stating how these may supportive to Global Operations Management?                    [5 Marks]
(b)Compare and contrast Purchasing and Procurement in terms of similarities and differences. Briefly define, state and explain Global Sourcing and the Motives for Buying Offshore and what is Outsourcing and how many types of Sourcing are you aware of and where is their place in Global Supply chain Management and Operations management                                               [10 Marks]
(c) Define and briefly explain various Transport Systems, Costs and Considerations, Freight Agents, Methods of Payments, Counter trade, True Cost Offshore buying, Buying Capital Equipment Offshore Factors in Successful Offshore Procurement, in light of Buying Offshore.                     [10 Marks]

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