Combinations of expected product volume and the variety

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1. Significant time was spent in class assignments and exercises in exploring that the process selected by a firm for a product or service must fit with a specific combination of volume and variety that is there are some combinations of expected product volume and the variety (flexibility) of items produced that produce a good strategic fit, and other combinations that produce a poor strategic fit. Give an example of a volume and variety that would be a poor strategic fit and explain what might be done to change the process to make the fit better.

2. Cycle time is defined as the maximum time that the product is allowed at each workstation. It is determined by the formula: Cycle time = production time available per day/units required per day. Takt time is defined as the pace of production to meet customer demand. It is defined by the formula: Takt time = total work time available/units required.

Explain the similarities and differences between the two time calculations. (It is more than to simply restate the formulas)

3. What are the similarities and differences in location strategy between product and service firms? Note at least 2 of each, and briefly note its importance.

Reference no: EM13762045

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