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Ques: How can we make comparisons between the cost of a product in two different periods if salaries and cost of living may have changed?
Ans: The average income is published in government statistics. The figure can be divided by the average number of hours worked. This gives an income rate per hour. Divide the cost of an item by this rate and it gives the number of minutes an average worker had to work in order to purchase the item. If you compare these figures over time you will see that the number on minutes needed to purchase a television set in the year 2000 is significantly less than any previous period.
explain the evolution of the subject operation management over time
What processes do MNCs need to establish in order to reduce prosecution risk? Many MNCs have decided to confront concerns about ethical behavior by developing worldwide practices t
Orangemen Lofts plans to add 300 luxury apartments to its complex in Cohoes. The cost of the land now is $16 million including taxes and fees. The construction cost is expected to
Determine which of the eight traits or skills associated with being an effective project manager would be the most effective when managing a group of newly hired engineers. Justify
Service Sector - Financial Services 1. Explosion of customer choice 2. Globalisation of financial services - extensive use of computer technology 3. Innovation on bot
Put Simply, operational layout is about deciding where to put all the facilities, machines, equipment and the staff with in the operation. For an organization of you choice discuss
Madden Industries manufactures three models of a product in a single plant with two departments cutting and assembly. The company has estimated costs for each of the three product
explain basic competitive priorities considered while formulating operations strategy by a firm?
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An insulated shipping container supplier is considering expanding its product line. Three materials with different insulation properties are under consideration. The following info
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