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3 years ago

What is Operation Management? Explain objectives of Operation Management.

Business

1 answer:

Dima020 [189]3 years ago

4 0

Answer:

The goal of operations management is to maximize efficiency while producing goods and services that effectively fulfill customer needs. ... Operations decisions include decisions that are strategic in nature, meaning that they have long-term consequences and often involve a great deal of expense and resource commitments.

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A customer tells you that they “must have” a particular item that you are out of in your store. You can tell that the customer i

Karolina [17]

I would say, "Please wait a moment. I'll check if the item will be in stock soon or already in stock." If the supervisor is available quickly after he or she is done, I'd ask them if they could help look in the back.

8 0

3 years ago

Use the cost information below for Ruiz Inc. to determine the total manufacturing costs incurred during the year: Work in Proces

ValentinkaMS [17]

Answer:

$48,100

Explanation:

Computation of total manufacturing cost incurred during the year is seen below;

Direct materials used

$13,700

Direct labor used

$27,700

Total factory overhead

$6,700

Total manufacturing cost incurred

$48,100

Therefore, the total manufacturing cost incurred during the year is $48,100

6 0

3 years ago

4. Describe a nonprice competition strategy that you have seen a company use. Do you think this strategy was effective? Why or w

fomenos

One nonprice competition technique is Better Quality. Another nonprice rivalry technique is Better Customer Service. In conclusion, a nonprice rivalry methodology is having a superior site. These procedures matter to clients because of the way that they need to show signs of improvement of a similar item, for example, the better shirt, the better pants, the better administration and so forth.

3 0

3 years ago

ou are planning to save for retirement over the next 30 years. To do this, you will invest $890 per month in a stock account and

Romashka [77]

Answer:

Monthly withdraw= $23,294.99

Explanation:

Giving the following information:

Stock:

Monthly deposit= $890

Number of periods= 30*12= 360

Interest rate= 0.109 / 12= 0.0091

Bond:

Monthly deposit= $490

Number of periods= 30*12= 360

Interest rate= 0.069 / 12= 0.00575

First, we need to calculate the amount of money collected at the moment of retirement. We need to use the following formula on each investment:

FV= {A*[(1+i)^n-1]}/i

A= monthly deposit

Stock:

FV= {890*[(1.0091^360) - 1]} / 0.0091

FV= $2,452,918.1

Bond:

FV= {490*[(1.00575^360) - 1]} / 0.00575

FV= $586,123.47

Total FV= 2,452,918.1 + 586,123.47

Total FV= $3,039,041.57

Now, the monthly withdrawal for 25 years:

Number of periods= 25*12= 300

Interest rate= 0.079 / 12= 0.0066

Monthly withdraw= (FV*i) / [1 - (1+i)^(-n)]

Monthly withdraw= (3,039,041.57*0.0066) / [1 - (1.0066^-300)]

Monthly withdraw= $23,294.99

7 0

3 years ago

There are two types of disruptive business models ______ and ______. a. High end and low endb. New product and new marketc. New

Artemon [7]

Answer:

The correct answer is letter "A": High end and low end.

Explanation:

Disrupting businesses are those whose creation represents the replacement of a product or service in the market. Streaming movie services such as Netflix, for instance, lead Blockbuster to bankruptcy. High-end disruption occurs when the innovation fulfills a need that companies in the market were not able to fulfill. Low-end disruption occurs when the innovation that is introduced by a company is greater than the rate at which consumers can adopt the new product.

6 0

3 years ago