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What are the advantages of using multiple sourcing strategies?
Advantages of using multiple sourcing:
a. May assist negotiate and drive down prices while more suppliers exist
b. More environmentally aware like the organisation ‘shops around’
c. Lower risk when a supplier fails to deliver
What is Prime Cost? The sum of Direct Labour Cost, Direct Expenses and Direct Material Cost is Prime Cost.
Process Focused Production System This is a form of production system in which production operations are grouped according to the type of process. In other words, all productio
Johnson, Inc., a U.S.-based MNC, will need 10 million Thai baht on August 1. It is now May 1. Johnson has negotiated a non-deliverable forward contract with its bank. The reference
Explain the term objective or necessity. Objective or Necessity: The objective or the need of permitting workers to participate in management can be: (i) To attain industr
What are: Concurrent Control? Feed forward Control? Feedback Control? Give an example of each.
what are the benefits of effective operations management. Discuss.
How are humans organized on planet earth?
Find the effective rate of interest for an investment that earns 5 (1/2) % per year, compounded continuously
Nature of Production and Operation Management Operations management is frequently used all along with production management in literature on the subject. It is hence useful to
Why do all managers and supervisors need to have knowledge and skills related to Human Resource management?
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