Multifactor productivity Study guides, Class notes & Summaries

GMS 401- Final Exam Questions With 100% Correct Answers 2024 Production - answerthe creation of goods and services Operations Management - answerActivities that relate to the creation of goods and services through the transformation of inputs to outputs Supply chain - answerA global network of organizations and activities that supply a firm with goods and services Services - answerEconomic activities that typically produce an intangible product (such as education, entertainment, lodging,...

GMS 401 Final Exam With 100% Correct And Verified Answers 2024

1. A catering company prepared and served 275 meals at an anniversary celebration last week using 11 workers. The week before, 4 workers prepared and served 245 meals at a wedding reception. a1. Calculate the labor productivity for each event. (Round your answers to 1 decimal place.) a2. For which event was the labor productivity higher? Anniversary Wedding Explanation Anniversary = 275 / 11 = 25.0 meals/worker Wedding = 245 / 4 = 61.3 meals/worker 2. A company that makes shopping car...

Global Operations & Supply Chain Management Final Exam || Questions & Answers on MCQ, Descriptive and Numerical (Graded A+) Global Operations & Supply Chain Management Final Exam || Questions & Answers on MCQ, Descriptive and Numerical (Graded A+) What does operations and supply chain management involve? (6 elements) - ANSWER - product design purchasing manufacturing service operations logistics distribution Describe what operations and supply chain management is. - ANSWER - It ...

GMS 401 Final exam Questions and Answers 100% Pass Production - Answer- the creation of goods and services Operations Management - Answer- Activities that relate to the creation of goods and services through the transformation of inputs to outputs Supply chain - Answer- A global network of organizations and activities that supply a firm with goods and services Services - Answer- Economic activities that typically produce an intangible product (such as education, entertainment, lodging, g...

GMS 401- Final Exam Questions With 100% Correct Answers 2024 Production - answerthe creation of goods and services Operations Management - answerActivities that relate to the creation of goods and services through the transformation of inputs to outputs Supply chain - answerA global network of organizations and activities that supply a firm with goods and services Services - answerEconomic activities that typically produce an intangible product (such as education, entertainment, lodging,...

Operations management - Answer The systematic design, direction, and control of processes that transforms inputs into serves and products for internal, as well as external, customers Process - Answer any activity or group of activities that takes one or more inputs, transforms them, and provides one or more outputs for its customers Operation - Answer a group of resources performing all or part of one or more processes Supply Chain - Answer An interrelated series of processes within and...

Gibson Valves produces cast bronze valves on an assembly line, currently producing 1600 valves each 8-hour shift. If the productivity is increased by 10%, it would then be: 220 valves/hr productivity equation units produced / input used the largest contributor to productivity is _____, estimated to be responsible for _____ of the annual increase management, over one-half productivity can be improved by decreasing inputs while holding outputs steady Chuck Sox makes woode...

MGSC 395 Exam 1 Review Practice Test. White Tiger Electronics produces CD players using an automated assembly line process. The standard cost of CD players is $143 per unit (labor, $31; materials, $67;and overhead, $45). The sales price is $300 per unit. To achieve a 13 percent multifactor productivity improvement by reducing materials costs only, one needs to reduce the materials cost by __ percent - CORRECT ANSWER 300 / 143 = 2.0979 2.0979*1.13 = 2.370629 300/2.370629= 126.54867 ...

Production - The making of goods and services Productivity - is the ratio of outputs (goods and services) Multifactor productivity - indicates the ratio of goods and services produced (outputs) to many or all resources (inputs) Competitive Advantage - the creation of a unique advantage over competitors Product Life Cycle - introduction, growth, maturity, decline Outsourcing - transferring a firm's activities that have traditionally been internal to external suppliers Core Competencies -...