A Gallup study showed that workers who are allowed to personalize their workplaces
were no more productive than those who are not allowed.
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The demand for services is usually easier to predict than the demand for goods.
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Describe an experience curve.
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Resources include materials, equipment, facilities, information, technical knowledge
and skills, and people.
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Irrespective of its quality, the expected value of perfect information represents the
maximum amount a company should be willing to pay for any information about
events.
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What are five key assumptions for the basic, single-channel waiting line model?
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What is capacity requirements planning (CRP)?
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Process layouts generally require less investment in equipment than product layouts
because the equipment is less specialized.
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The total project cost can be minimized by minimizing crash costs.
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The leadership category of the Baldrige Performance Excellence criteria includes how
an organization addresses its public and community responsibilities.
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A bill of materials (BOM) characterizes the structure of dependent demand among all
items that comprise a finished good.
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Since price is usually set by market conditions, the blending problem’s use of linear
programming attempts to meet the demand at a minimum cost.
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Because of the expense and training involved, Six Sigma is practical only in large
manufacturing organizations.
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A computer manufacturer currently has a 15 percent customer defection rate. Their
accounting department estimates the incremental contribution to profit and overhead as
30 percent. Customers purchase computers every four years at an average cost of
$1,200. In an effort to reduce the defection rate, the company is improving both the
quality of its computers and its post-sale service. Determine the value of a loyal
customer if the defection rate drops to 5 percent.
a. Less than or equal to $500
b. More than $500 and less than or equal to $1,000
c. More than $1,000 and less than or equal to $1,500
d. More than $1,500 and less than or equal to $2,000
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Briefly describe any four elements of a service-delivery system.
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Describe the four major steps in the project-planning process.
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ISO 9000:2000 is used only in the United States.
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The queuing model’s operating characteristic formulas only characterize short-term
average results and, in many practical situations, managers are interested in
understanding long-term dynamic behaviors of queuing systems.
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Top managers need small-range forecasts of unit sales for individual products (e.g.,
brands and sizes), for decisions involving financial planning, and for sizing and locating
new facilities.
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The ability to download music onto a cell phone is considered a primary service.
Answer: