Interpret: The preferred strategy from ‘make to order’ or ‘make to stock’ to manufacture highly standardized products. Introduction:‘ Make to order’ and ‘make to stock’ are two manufacturing strategies used for producing goods. For the non-standardized products, normal strategy is (and has to be) make to order. For standardized products, the strategy can be either, but is mostly made to stock. This is to get advantages of mass production which results in lower costs. However, many companies use a mix of both the strategies for standardized products.

Question

Want to see the full answer?

Answer 1

Question

Chapter 2, Problem 2P

Summary Introduction

Interpret:The preferred strategy from ‘make to order’ or ‘make to stock’ to manufacture highly standardized products.

Introduction:‘Make to order’ and ‘make to stock’ are two manufacturing strategies used for producing goods. For the non-standardized products, normal strategy is (and has to be) make to order. For standardized products, the strategy can be either, but is mostly made to stock. This is to get advantages of mass production which results in lower costs. However, many companies use a mix of both the strategies for standardized products.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Students have asked these similar questions

Menu Item Sales and Cost Data Taco Salad: Number Sold: 127; Item Cost: $0.71; Selling Price: $3.25 Lasagna: Number Sold: 48; Item Cost: $0.92; Selling Price: $4.67 Chicken: Number Sold: 31; Item Cost: $1.20; Selling Price: $3.00 Green Beans: Number Sold: 14; Item Cost: $0.20; Selling Price: $1.00 Corn: Number Sold: 13; Item Cost: $0.24; Selling Price: $1.00 Rice: Number Sold: 9;Item Cost: $0.13; Selling Price: $1.00 Menu Item Classification: Low contribution margin, low menu mix % DOG High contribution margin, low menu mix % PUZZLE Low contribution margin, high menu mix % PLOWHORSE High contribution margin, high menu mix o/o STAR QUESTION 1 Complete the menu analyses worksheet below. Calculations will be done using the information above. Restaurant: Date: MealPeriod: (A) ☐ (B) (C) (D) (E) (F) (G) (H) (1) (J) Menu Mix Popularity % Item Item Sold/(Menu Mix Menu Menu Item Food Menu Contribution Contribution Contribution Category Item Mix %): (B/K) Cost Selling Margin Price Margin (E-D)…

1) Around the Clock Production of Fire Nozzles View the videos Around the Clock Production of Fire Nozzles 1 https://media.gaspar.mheducation.com/GASPARPlayer/play.html?id=132KoZwS0yMEgsToDUsZjJe (9.44 minutes, Ctrl+Click on the link) and Around the Clock Production of Fire Nozzles 2 https://media.gaspar.mheducation.com/GASPARPlayer/play.html?id=44JM0cKtFLqHP5bad6KOHAm (7.43 minutes, Ctrl+Click on the link); what are your key takeaways (tie to one or more of the topics discussed in Chapters 12 and/or 13) after watching these videos. Note: As a rough guideline, please try to keep the written submission to one or two paragraphs. 2) Cyberdyne Systems stocks and sells Cyberdyne glucose meters. The firm gathered the following information from its South Pasadena office: Demand = 19,500 units per year Ordering cost = $25 per order Holding cost = $4 per unit per year The firm’s operations manager wants to calculate the: a) EOQ for the glucose meters. b) Annual holding costs for the…

In the following problems assume, unless otherwise stated, that S = $40, σ = 30%, r =8%,and δ =0. 13.1 Suppose you sell a 45-strike call with 91 days to expiration. What is delta? If the option is on 100 shares, what investment is required for a delta-hedged portfolio? What is your overnight profit if the stock tomorrow is $39? What if the stock price is $40.50?