Smude Assignment 2012 M Com 3rd Semester

MB0051 Legal Aspects of Business Dear students to get solved assignments of SMU MBA FALL 2014 call us at  9741410271 or mail us at  Email: [email protected]Website: 1   “Discharge   refers   to   the   termination   of   contractual   relationship   between   the parties”. Explain the statement along with different modes of discharging a contract. Answer:  Discharge refers to the termination of contractual relationship between the parties. The contract ceases to operate, i.e., when the rights and obligations under the contract ends. According to Sections 73-75 of the Contracts Act, a contract may be discharged in several modes.  2   Explain   the   meaning   of   Power   of   Attorney,   its   types   and   clause   related   to registration. Answer: Meaning  Power of attorney is defined by Section 2(21) of the Stamp Act as including “any instrument 





Note: Answer all questions. Kindly note that answers for 10 marks questions should beapproximately of 400 words. Each question is followed by evaluation scheme.

Q1. What is Flexible Manufacturing System (FMS)? How does it help in improving the manufacturingprocess? (Definition of FMS - 1 mark; Characteristics- 2 marks; Explanation of system designed to producecomponents


3 marks; How there is flexibility in the manufacturing process


2 marks; Components of FMS


2 marks) 10 marksAnswer.Definition of FMS

- A system that consists of numerous programmable machine tools connected by an automated

material handling system”.

A flexible manufacturing system (FMS) gives manufacturing firms an advantage in aquickly changing manufacturing environment.

Characteristics of FMS

- There are following characteristics of FMS as:

It is an attempt to solve production problems of mid-volume and mid-variety parts.

It is designed to process several parts in the given mix simultaneously.

It is equipped with sophisticated flexible machine tools

Faster, lower-cost changes from one part to another which will improve capital utilization

Lower direct labor cost, due to the reduction in number of workers.

Reduced inventory, due to the planning and programming precision

Explanation of system designed to produce components

- A Flexible Manufacturing System is one that can bechanged or adapted rapidly to manufacture different products or components at different volumes of production.Flexible manufacturing systems are usually seen at their most efficient when manufacturing components rather thanfinished products.Machine Flexibility: When machines are used to manufacture a variety of products/components this is called

‘machine flexibility’. A good example is a company that

specializes in manufacturing injection molded components.The component design may change very quickly but as long as the mould is updated / modified the injection moldingmachine can still operate. Computers monitor the supply of materials; monitor the operating temperatures and qualitycontrol. Machines of this nature are adaptable and are ideal for FMS.

Flexibility in the manufacturing process

- Flexible manufacturing systems are being designed with other type of  processing equipments including inspection stations, assembly works and sheet metal presses. Increasingmanufacturing flexibility is a key strategy for efficiently improving market responsiveness in the face of uncertainfuture product demand.

Components of FMS

1. Workstations:

In present day application these workstations are typically computer numerical control (CNC)machine tools that perform machining operation on families of parts. The various workstations are

Machining centers

Load and unload stations

Assembly work stations

Sheet metal processing, etc.

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