part two: describe how each of the five might affect a firm. course hero

What are the four major factors affecting operations management?

Name and describe four major factors affecting operations management. 1. Government - regulation such as environment, safety, product liability, and taxation. 2. Economy - demand changes depending on ex. economic recession

What are the four objectives of a firm wishing to maximize profit?

What are the four objectives of a firm wishing to maximize profit? 1. Provide best customer service. 2. Provide lowest production costs. 3. Provide lowest inventory investment. 4. Provide lowest distribution costs. What is the objective of marketing? What three ways will help it achieve this objective? 1.

What are the three primary activities of manufacturing?

Provide the required level of customer service. Name and describe the three primary activities of manufacturing, planning, and control. 1. Production Planning -able to meet marketplace demand. Establishes correct priorities (what is needed and when) to make certain that capacity is available to meet those priorities.

Which of the following is an example of postpone activity?

Give an example of postponement activitiy. Postponement activity: a product design strategy that shifts product differentiation closer to the consumer by postponing identity change to the last possible supply chain location. Example: computer printers for a global market that use universal power supplies that can be switched to diff voltages.

What are the factors that make up a supply chain?

1. Activities and processes to supply a product or service to a final customer. 2.

What is a make to stock?

5. Make-to-stock - supplier manufactures the good and sells from a finished goods inventory.

What is the purpose of maintaining high inventories?

1. Maintaining high inventories so goods are always avaliable for the customer

What are the factors that affect the internet?

1. Government - regulation such as environment, safety, product liability, and taxation. 2. Economy - demand changes depending on ex. economic recession. 3. Competition- internet has allowed buyers to be able to purchase from global as well as local sources with ease. 4. Customers -.