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Explain how the factor rating model

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1. Explain how the factor rating model can be used to help a firm understand the most critical variables associated with location decisions. Provide an example to support your answer.

2. Explain the value the exponential smoothing forecast model has with respect to minimizing forecast error. Include in your answer, the logic for the alpha values relative to the general marketing curve.

3. With respect to lean manufacturing / service concepts, explain the value stream map process (both current and future state). How does this process differ from the concept of a general flowchart? Provide an example to support your answer.

4. Develop an FMEA and an MMEA for a product / service of your choice. Include two items in each the FMEA and the MMEA. Explain the value of the FMEA and the MMEA concept relative to defect reduction.

5. Explain the concept of reverse logistics. What are some examples of reverse logistics? How can a firm work to use the reverse logistics process to improve product performance?

6. Given the material we have studied over the term, detail one item that you found interesting and which you can apply. Be specific on how you will apply the concept you identify. For this question, you can write about supply chain management. How will you apply the concept you identify?

Reference no: EM132769025

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