1. What factors enter into the choice of a value for the smoothing constant in e
ID: 402008 • Letter: 1
Question
1. What factors enter into the choice of a value for the smoothing constant in exponential smoothing?
2. Name at least 3 competitive advantages of concurrent engineering?
3. A new order has come into your department. The capability of the process used for this type of work will enable virtually all of the output to be well within the specifications for your product.
a. (5 Points): What benefits might be derived from this situation?
b. (5 Points): What alternatives might be considered by the manager?
4. What are the four main reasons for holding inventory?
5. To be more competitive, many fast-food chains began to expand their menus to include a wider range of foods. Although contributing to competitiveness, this has added to the complexity of operations, including inventory management. Specifically,provide at least 2 different ways this expansion of menu offerings will most likely create problems for inventory management?
6. In operations management, as in life, a balanced approach is often the best policy. One of the best examples of the benefits of this in operations management is the
Explanation / Answer
Operations Management, 7/e surveys the field of operations in both the services and manufacturing sectors. Provides enhanced coverage from the strategies of designing a product or service, through the processes and systems of making and delivering the product, and controlling the operations. All the standard topics are covered with concepts and supporting examples, problems, cases, and appropriate current news clips and readings. Stevenson highlights the very important role Operations plays in today's business world with concise coverage of concepts such as JIT, TQM, supply chain management with more thorough integration of services and increased use of real world examples. All basic quantitative techniques are presented, many in supplements that can be highlighted or bypassed depending on the course structure, and all are supported with step-by-step examples and solved problems, many including example solutions built into Excel spreadsheets. The text is the most widely adopted of any for the introductory course mainly due to the balanced coverage and clearly explained concepts.
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