The operations function is that part of every business organization that produce
ID: 468336 • Letter: T
Question
The operations function is that part of every business organization that produces products and/or delivers services. A systems approach refers to the systems in an organization, such as its I accounting system, transportation system, and the like. There are three basic business strategies: low cost, responsiveness, and differentiation. A mission statement should answer the question: What business are we in? Quantitative forecasting techniques are generally superior to qualitative forecasting techniques Due to randomness, forecasts cannot be expected to be completely accurate. MAD is used in computing values of a tracking signal. List three ways that manufacturing and systems and service systems differ. From a Strategy and Competitiveness point of view, give three reasons why companies fail?Explanation / Answer
Q.No 2
a)
Three ways in which manufacturing & service system differs
In manufacturing output is tangible where in services output is intangible.
Manufacturing firms holds inventories where service firms creates services no inventory stages.
Manufacturing firms can produce customers’ orders without any demand where services are tailor made , so no services are prepared in advance until & unless customers confirmation.
Manufacturing firms requires physical location where service location does not require physical location.
b) Why companies fails
1) High costing : Companies highest costing fails them to be throw from the market. In today’s situation companies with highest costing are not surviving .
2) Irrelevant products / services : Product / Services must be relevant , reliable from customer point of view. If they are not reflecting to their needs they will not sustain market.
3) Mismanagement of resources : Resource management is one more critical aspect/ Man , Machines , Materials , Money these all resources needs to be managed effectively.
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