Reference no: EM132291819
1. Straddling is a risky strategy that often results in failure. More focused firms can effectively compete with a straddling firm in each segment the straddling firm enters.
2. An order winner is a set of screening criteria that permits a firm's products to be considered as possible candidates for purchase.
3. Activity system maps are conceptual have nothing to do with the physical geographic reach of a company.
4. 14. An operations strategy must resist change because of the long term nature of equipment and personnel investments.
5. Process design includes selecting the appropriate technology, sizing the process over time, determining the role of inventory in the process, and locating the process.
6. Operations and supply chain strategy is concerned with setting broad policies and plans for using the resources of a firm and must be integrated with corporate strategy.
7. "Social" pertains to fair and beneficial business practices toward labour, the community, and the region in which a firm conducts its business.
8. Experience and trial and error are the simplest ways to choose weights for the weighted moving average forecasting model.
9. The equation for exponential smoothing states that the new forecast is equal to the old forecast plus the error of the old forecast.
10. Single exponential smoothing has the shortcoming of lagging changes in demand.
11. Random errors can be defined as those that cannot be explained by the forecast model being used.
12. When forecast errors occur in a normally distributed pattern, the ratio of the mean absolute deviation to the standard deviation is 2 to 1, or 2 x MAD = 1 standard deviation.
13. Often leading indicators are not causal relationships, but in some indirect way, they may suggest that some other things might happen. 31.Without probabilities and payoffs, a decision tree is not capable of generating a solution.
14. The capacity utilization rate is found by dividing best operating level by capacity used.
15. The objective of strategic capacity planning is to provide an approach for determining the overall capacity level of labor-intensive resources.
16. The problem of keeping demand sufficiently high to keep a large factory busy is a sales issue and not a diseconomy of scale.
17. Making adjustments to eliminate the variance between planned and actual output is tied into intermediate range capacity planning.