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Explain the concept involved in operations strategy
Consider mean arrival rate is 1 customer every 4 mins and mean service time is 5/2 mins. If waiting cost is $5 per unit per min and cost of serviceing one unit is $4. Find minimum
The expected average rate of return for a proposed investment of $500,000 in a fixed asset with a useful life of four years, straight-line depreciation, no residual value, and an e
List the operation involved in any buying and selling business?
What motivates you? What are your needs? How do you attempt to satisfy your motivational needs within your organization? What opportunities does your organization provide to satisf
Which of the following is not a characteristic that distinguishes services from goods? Service jobs are unskilled A service is intangible Services are perishable Services are heter
When are the holding costs raised? Holding cost rises while the size of order rises. It is since a higher level of average stock will be kept during the year. Thus holding cost
Explain Critical Path. This is that sequence of activities that decide the complete project duration. Critical Path is formed by critical activities. This path consumes maximum
Productivity -Numerically Defined Total factor productivity (TFP) = Pt = Ot/(L+C+R+Q) Partial factor productivity (PFP) = Ot/L or C or Ot/a combination of inputs Pt
An HMO requests your hospital services for its obstetrics division. It offers to pay your hospital $2,000 for a vaginal delivery without complications (DRG 373). You look at the St
Line Balancing- Line: an assembly line composed of various work stations, at which particular operations are performed.- To work efficiently, with no work pile-ups between stations, the line must be balanced, for example work must get through each workstation in roughly similar amount of time.Goals:1. To meet production goals,2. Maximize output.General Approaches to Line Balancing Technique1. Estimating number of operators for a specific number of stations,2. Work element sharing: grouping “activities” each work elements into “stations” or jobs performed by a single person (occasionally multiple people work in concert at a single station or machine)
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