Under the operations analysis, how do you complete resource allocation?
Under the operations analysis, how do you complete resource allocation?
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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Under the operations analysis, how do you complete resource allocation?
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Step 1 - Introduction
Every company has some objectives and all the processes, strategies, and hard work is made to complete those objectives. But to achieve objectives or perform any process the firm will first need to perform and operate. That is where resource allocation comes in, it is the method of assigning workers to tasks and how to utilize the various resources to complete the objectives in an efficient manner. For example, if a company has 16 workers and 10 machines then the company will determine which 10 workers are best skilled at working on the machine and the remaining 6 will be assigned other tasks.
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