Doing the right things to create the most value for the company

The characteristic of services

The characteristic of goods

What is the reasons of the company to globalize

Productivity measures the process improvement

Multi factor productivity is the concept of productivity when there are multiple output

When a firm offers a mix of both products and services, in comparison to the traditional focus on products, means that firm implements

Selling a promised level of illuminance in a building, according to a Pay per Lux concept is an example of product oriented in product service system

The options in product strategy includes

In product life cycle, negative cash flow occurs in the phase?

In the product life cycle, enhancing capacity is necessary during which phase?

Take an example of "Apple" products, product design is most likely to help business to

The ... is a problem with the products design that makes the products unsuitable

Quality function deployment start with identification of how goods and services will satisfy customer wants

Small variations in production or assembly do not adversely affect the product is definition of

There are number of ways to increase service efficiency such as:

The theoretical maximum output of a system in a given period under ideal conditions is called

Utilisation is simply the percent of effective capacity actually achieved

The key to improving efficiency is often found in correcting quality problems and in effective scheduling, training, and maintenance.

The basic notion of economies of scale is that as a plant gets larger and volume increases, the average cost per unit of output drops.

The objective of break-even analysis is to find the point at which costs equal revenue. The company must operate below this level to achieve profitability.

There are two types of costs to consider when adding capacity: the cost of upgrading too frequently and that of upgrading too infrequently. Upgrading capacity too frequently is expensive. Conversely, upgrading capacity too infrequently is also expensive.

The capacity a firm expects to achieve given the current operating constraints is called

What is the characteristic of project?

Project manager do monitoring on resources, cost, and time in which phase?

A key project deliverable that organizes the work into manageable sections/modules is called

What is the purpose of project scheduling?

Critical path is the longest time path through the network

Length of time that an activity can be delayed without delaying the entire project is called

Critical Path Method (CPM) uses a probability distribution for activity times

Variability in activity time follows beta distribution

Shortening the duration of the project is called

Project variance is computed by summing the variances of all activities

In PERT (Project Evaluation and Review Technique), what is the probability of completing project on time

A production facility organized around processes to facilitate low volume and high variety production, is called

A rapid and low cost production that caters to constantly changing unique customer desires, is called

Postponement is the delay of any modifications or customization to a product as short as possible in the production process.

Below are several options to make mass customization works

A process that helps managers understand how to add value in the flow of material and information through the entire production process, is called

The technique for improving service productivity by structuring service so customers must go where the service is offered, is called

Based on the degree of customization and degree of labor, professional service is categorized as having both high degree of customization and labor.

In the service blueprinting, middle layer consist of layer where customer may interact with service provider.

The ability to exist/survived for long periods without significant deterioration is called

The degree to which the servicing of an items can be accomplished with given resources

Total Quality Management (TQM) stresses a commitment of quality management team to have a continuing drive to excellence

A program that designed to reduce defects, lower cost, and improve customer satisfaction is called

Select seven tools in Total Quality Management (TQM)

... shows that cost increases as the product moves away from what the customer wants

... uses statistical method to tell when to take corrective action

A process is said to be operating in statistical control when the only source of variation is natural or common cause.

Forecast range that deals with more comprehensive issue and support management decision is

Forecast approach that involves intuition and experiences

The forecasting method that consist of a process to arrive at consensus of a group opinion or decision by surveying a panel of experts

Select time series components in forecasting

Forecasting method that assumes demand in the next period is the same as in the most recent period

Increasing smoothing period (n) smooths the forecast but makes it less sensitive to change

A coefficient determination measures the change in Y predicted by the change in X

A forecast error that is consistently higher or consistently lower than actual values of a time series is called

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The objective of inventory management is to balance inventory investment and customer services

The function of inventory is to couple various parts of the production process

Managing inventory includes the following aspects

ABC analysis divides inventory based on volume

Items are counted and records updated on a periodic basis

Holding costs vary considerably depending on the business, location, and interest rates

Calculate the number of item A counted per day

Assumption of basic EOQ model, except

Calculate quantity of order

Calculate total cost of inventory

Safety stock is used to achieve the desired service level and avoid stockout

An inventory model for single used items is called