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Exam2(Part 3).Mr. - Question 1(Just-in time production...

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Question 1 (Just-in time production) Just-in-Time Production is a method for manufacturer arranges for materials to arrive at production facilities just in time to enter the manufacturing process. It reduces materials-handling costs. Cuts the time and cost entailed by moving raw materials into and out of storage. Advantages: 1. Parts and materials don't go unused for long period of time. 2. The costs of "holding" inventory are signifcantly cut. Disadvantages 1. This kind of production requires considerable communication and cooperation between manufacturer and the supplier. 2. The manufacturer has to know what it needs and when. The supplier has to commit to supplying the right materials, of the right quality, at exactly the right time. Question 2 (Market Segmentation) A market segement is a group of potential customers with common characteristics that influence their buying decisions. 1. Demographic segmentation It divides the market into group based on such variables, as age, marital status, gender, ethnic background, income, occupation, and education.
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