Production and Operations Management Assignment - 2

Production and Operations Management - Assignment Example This assignment describes the corporation, that has developed its network in their most important inter-related activities, that include crude oil imports, refining, marketing and transportation to terminals. Eventually, Marathon Oil Corporation started to develop their own convenience stores and gas stations. This assignment focuses on answering 4 questions on production and operations managment. The first answer given contains information on analyzing Marathon’s Oil Corporation product process and determining which phase is open to the greatest number of efficiency improvements, that could be done. Second answers focuses on discussing the relationship between the retail price of gasoline and the world demand for crude oil. Third answer explains what Marathon Oil Corporation could do to keep the price at the pump. The last answer given in the assignment researches and describes an impact of a continued moratorium on deep-water drilling for retail gas prices in the U.S, that was established in June 2010 by President Obama. The most important function of production and operations management are also discussed in this assignment. These are managing the production process in way that reduces the lead time, minimizing the wastage of resources and ensuring continuity of operations. The assignmnet also researches chain management of US oil and gas industry, transportation terms and issues, transfering the finished products and ways to accelerate the process of crude oil transportation through pipelines.