ISEN 315 Test 1

ISEN 315 Test 1 - ISEN 315 Test 1 Key Points of...

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ISEN 315 Test 1 Key Points of Manufacturing Strategic Dimensions = dimensions along which firms distinguish themselves Eg. Quality, delivery speed, delivery realiability, and flexibility, cost, and product differentiation Classical view=strategy should be viewed in relation to time horizon, focus, evaluation, and consistency Global Competition – how to measure success on global scale? By examining classical measures of relative economic stregnth eg: balance of trade, share of world exports, creation of jobs, and cost of labor. Strategic initiatives eg: business process reengineering, just-in-time manufacutring and purchasing systems, time based competition and competing on quality. Product and process life cycles=start-up, rapid growth, maturation, stabilization, and decline *Manufacturing processes have the characteristics of a job shop. *Learning (most appropriate for worker) and experience (most appropriate for entire industry) curves are helpful in forecasting the decline in unit cost of a manufacturing process as one gains experience with the process. Capacity growth planning=determing the sizing and the timing of new capacity additions. Strategy = is a long term plan of action designed to achieve a particluar goal, most often winning
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This note was uploaded on 03/06/2011 for the course ISEN 315 taught by Professor Hiram during the Spring '08 term at Texas A&M.

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ISEN 315 Test 1 - ISEN 315 Test 1 Key Points of...

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