Part I True/FalseT F Forecasting has little significance to operations managementT F The global economy and international competition has no impact on operational decisions related to cost, productivity or product design.T F Broadly defined, quality refers to the ability of a product or service to consistently meet or exceed customer expectations.T F Operation Management strategy must align with organizational strategyT F A shortage of technology workers has no effect on productivity.T F Service delivery tends to be more customized to the customer’s needs compared to manufactured products.T F An example of an external factor which influences effective capacity is safety regulations.T F The service environment is likely to have more variability than a manufacturing environment.T F The customer is the focal point and customer satisfaction is the driving force in quality management.

Answered: T F Forecasting has little…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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Part I True/False

T F Forecasting has little significance to operations management
T F The global economy and international competition has no impact on operational decisions related to cost, productivity or product design.
T F Broadly defined, quality refers to the ability of a product or service to consistently meet or exceed customer expectations.
T F Operation Management strategy must align with organizational strategy
T F A shortage of technology workers has no effect on productivity.
T F Service delivery tends to be more customized to the customer’s needs compared to manufactured products.
T F An example of an external factor which influences effective capacity is safety regulations.
T F The service environment is likely to have more variability than a manufacturing environment.
T F The customer is the focal point and customer satisfaction is the driving force in quality management.

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Forecasting can be stated as the approach that utilizes past data as insights or input to determine or make informed predictions and estimations in evaluating the direction of the trends of the future. Business generally uses forecasting to evaluate how to assign their budgets and strategies, and plan for foreseen expenses for the future.

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