Business forecasting is an estimate or prediction of future developments in business such
as sales, expenditures, and profits. Given the wide swings in economic activity and the drastic
effects these fluctuations can have on profit margins, it
In scheduling there are many different techniques you can use to try to get the best schedule
which would work for you or your company. Priority rule determines the priority of jobs at a
First come, first served (FCFS): Jobs are
Chapter 2: Operations Strategy and Competitiveness
This chapter explains the role and development of business strategy. It also explains the
role and development of the operations strategy and how the operations and business
strategy are interrel
For Products and Services
Facility planning answers:
What kind of capacity is needed?
How much capacity is needed?
When more capacity is needed?
Where facilities should be located (location)
How facilities should b
Chapter 3 Homework
Problems: 1, 2, 6, 16, 17
See-Clear Optics is considering
producing a new line of eyewear. After
considering the cost of raw materials and
the cost of new equipment, the company
estimated fixed cost at $40,000 and va
Quality is defined as all elements of a product that add value for the customers and
investors or are required by a product or service to meet appropriate standards and regulations.
Quality assurance is any and all activities and events
A process flow chart is a diagram that shows arrangement and classification of steps in
producing the product or service. The make to stock strategy produce standard products and
services for immediate sale or delivery. Assemble to order strategy produces
Case: Northeast State University
Dr. Bay used work sampling to determine the labor that the
administrative assistant was doing.
Work sampling is broadly
defined as the application of statistical sampling techniques to
the study of work activities. In the