1. A company has introduced a process improvement/change that reduces processing time
for each unit, so that output is increased by 30% with less material, but two additional
workers required. Under the old process, five workers could produce 80 units per
Part 1: True/False
_F_ 1. Goods producing organizations are not involved in service activities.
_T_ 2. The shorter the forecast period, the more accurately the forecasts tend to track
what actually happens.
_F_3. The objective of inventory management is t
Lecture 3 Notes
How effectively an organization meets the wants and needs of customers relative to
others that offer similar goods or services
Businesses Compete Using Operations
Supply chain management
Lecture 2 Notes
Models Are Beneficial
Easy to use, less expensive
Require users to organize
Increase understanding of the problem
Enable what if questions
Consistent tool for evaluation and standardized format
Power of mathematics
Lecture 1 Notes
Value-Added & Product Packages
Value-added is the difference between the cost of inputs and the value or price of
Product packages are a combination of goods and services.
Product packages can make a company more competitive.