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Questions and Answers
What is a major consideration when determining capacity?
What is a major consideration when determining capacity?
What is the consequence of building a restaurant too large?
What is the consequence of building a restaurant too large?
What is the primary risk of operating a plant with a capacity that exactly meets constant monthly demand?
What is the primary risk of operating a plant with a capacity that exactly meets constant monthly demand?
Which of the following factors should a restaurant consider before expanding its seating?
Which of the following factors should a restaurant consider before expanding its seating?
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What is the main functional purpose of operations systems in an organization?
What is the main functional purpose of operations systems in an organization?
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Which area of management has gained significant importance in recent years, as highlighted in the content?
Which area of management has gained significant importance in recent years, as highlighted in the content?
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In which areas must operations management ensure that relevant goals are achieved?
In which areas must operations management ensure that relevant goals are achieved?
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Which function is included in the control framework of operations management?
Which function is included in the control framework of operations management?
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What is one of the goals of implementing operations systems?
What is one of the goals of implementing operations systems?
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Why is understanding the organization's approach to manufacturing and service technologies crucial?
Why is understanding the organization's approach to manufacturing and service technologies crucial?
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Study Notes
Capacity Decisions
- A major component of operations management is determining capacity.
- Capacity can be measured by the amount of output a company can produce with its current resources.
- Companies should carefully consider their demand forecasts when planning capacity.
- Overcapacity can lead to higher costs due to unused resources.
- Undercapacity can lead to lost sales and revenue.
Walmart's Success
- Walmart's success is partly due to strong supply chain management.
- Walmart uses point-of-sale scanners to track product sales and reorder quickly.
- Walmart is known for pressuring its suppliers to lower their costs.
U.S. Steel Companies' Transformation
- The U.S. steel industry faced fierce competition from overseas companies.
- Companies like Bethlehem Steel shut down, and others like U.S. Steel had to undergo major restructuring.
- Many U.S. companies reduced their workforces, closed down unprofitable plants, and modernized their remaining operations.
- These changes helped improve U.S. companies' competitiveness.
Supply Chain Management
- Supply chain management is a vital component of operations management.
- This system aims to control transformation processes and achieve goals in areas like quality and cost reduction.
- It encompasses purchasing and inventory management.
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Description
This quiz explores key concepts in operations management, focusing on capacity decisions, supply chain strategies, and industry transformations. It examines how companies like Walmart and U.S. Steel navigate operational challenges to remain competitive. Understand the importance of capacity planning and resource management.
