Study guides, Class notes & Summaries

forecast - Answer a prediction of future events used for planning purposes time series - Answer the repeated observations of demand for a service or product in their order of occurrence time series pattern: horizontal - Answer nearly flat over time time series pattern: trend - Answer consistently rising or falling time series pattern: seasonal - Answer varies in a repeatable pattern over seasons time series pattern: cyclical - Answer less predictable than seasonal, longer cycle th...

inventory management - Answer the planning and controlling of inventories in order to meet the competitive priorities of the organization inventory - Answer a stock of materials used to satisfy customer demand or to support the production of services or goods pressures for small inventories - Answer -inventory holding cost -cost of capital -storage and handling costs -taxes -insurances -shrinkage pressure for large inventories - Answer - customer service -ordering cost -setup cos...

QUESTIONS AND ANSWERS

QUESTIONS AND ANSWERS

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A credit card-processing firm would be likely to list the following competitive priorities for its external customers: A. Concurrent engineering B. Mass customization C. Consistent quality D. Postponement - c Which of the following events from the twentieth century defines the history of operations and supply chain management? A. The invention of the assembly line for the Model T car by Henry Ford. B. Alfred Sloan's introduction of strategic planning for achieving product pro...

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