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Match the sources of cost advantage to the definitions provided. Remember to select a different source of cost advantage for each definition. Once you click Check, the correct matches will remain in place, while the wrong matches will return blank. Source of cost advantage Capacity utilisation Product design Economies of learning Residual efficiency Economies of scale Input costs Production techniques Definition Products or services can be designed with the specific aim of keeping costs low, thus achieving cost advantage. Cost advantage comes when individual skills and organisational routines are improved through experience. Cost advantage is obtained by improving process technology and/or introducing innovative process design approaches such as the 'just- in-time' inventory system. Cost advantage comes when producing more of something brings down the overall cost of production because fixed costs are spread on a larger number of units. Cost advantage comes from being able to utilise capacity and adjust to changes in demand more efficiently than competitors. Cost advantage is derived from costs related to labour, location and bargaining power in negotiations with suppliers. A reduction in overall 'organisational slack' and other unnecessary costs produces cost advantage.

Match the sources of cost advantage to the definitions provided. Remember to select a different source of cost advantage for each definition. Once you click Check, the correct matches will remain in place, while the wrong matches will return blank. Source of cost advantage Capacity utilisation Product design Economies of learning Residual efficiency Economies of scale Input costs Production techniques Definition Products or services can be designed with the specific aim of keeping costs low, thus achieving cost advantage. Cost advantage comes when individual skills and organisational routines are improved through experience. Cost advantage is obtained by improving process technology and/or introducing innovative process design approaches such as the 'just- in-time' inventory system. Cost advantage comes when producing more of something brings down the overall cost of production because fixed costs are spread on a larger number of units. Cost advantage comes from being able to utilise capacity and adjust to changes in demand more efficiently than competitors. Cost advantage is derived from costs related to labour, location and bargaining power in negotiations with suppliers. A reduction in overall 'organisational slack' and other unnecessary costs produces cost advantage.

Practical Management Science
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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Match the sources of cost advantage to the definitions provided. Remember to select a different source of cost advantage for each definition. Once you click Check, the correct matches will remain in place, while the wrong matches will return blank. Source of cost advantage Capacity utilisation Product design Economies of learning Residual efficiency Economies of scale Input costs Production techniques Definition Products or services can be designed with the specific aim of keeping costs low, thus achieving cost advantage. Cost advantage comes when individual skills and organisational routines are improved through experience. Cost advantage is obtained by improving process technology and/or introducing innovative process design approaches such as the 'just- in-time' inventory system. Cost advantage comes when producing more of something brings down the overall cost of production because fixed costs are spread on a larger number of units. Cost advantage comes from being able to utilise capacity and adjust to changes in demand more efficiently than competitors. Cost advantage is derived from costs related to labour, location and bargaining power in negotiations with suppliers. A reduction in overall 'organisational slack' and other unnecessary costs produces cost advantage.
Transcribed Image Text:Match the sources of cost advantage to the definitions provided. Remember to select a different source of cost advantage for each definition. Once you click Check, the correct matches will remain in place, while the wrong matches will return blank. Source of cost advantage Capacity utilisation Product design Economies of learning Residual efficiency Economies of scale Input costs Production techniques Definition Products or services can be designed with the specific aim of keeping costs low, thus achieving cost advantage. Cost advantage comes when individual skills and organisational routines are improved through experience. Cost advantage is obtained by improving process technology and/or introducing innovative process design approaches such as the 'just- in-time' inventory system. Cost advantage comes when producing more of something brings down the overall cost of production because fixed costs are spread on a larger number of units. Cost advantage comes from being able to utilise capacity and adjust to changes in demand more efficiently than competitors. Cost advantage is derived from costs related to labour, location and bargaining power in negotiations with suppliers. A reduction in overall 'organisational slack' and other unnecessary costs produces cost advantage.
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Match the sources of cost advantage to the definitions provided. Remember to select a different source of cost advantage for each definition. Once you click Check, the correct matches will remain in place, while the wrong matches will return blank. Source of cost advantage Production techniques Capacity utilisation Product design Economies of learning Residual efficiency Economies of scale Input costs Production techniques Definition Products or services can be designed with the specific aim of keeping costs low, thus achieving cost advantage. Cost advantage comes when individual skills and organisational routines are improved through experience. Cost advantage is obtained by improving process technology and/or introducing innovative process design approaches such as the 'just- in-time' inventory system. Cost advantage comes when producing more of something brings down the overall cost of production because fixed costs are spread on a larger number of units. Cost advantage comes from being able to utilise capacity and adjust to changes in demand more efficiently than competitors. Cost advantage is derived from costs related to labour, location and bargaining power in negotiations with suppliers. A reduction in overall 'organisational slack' and other unnecessary costs produces cost advantage.
Transcribed Image Text:Match the sources of cost advantage to the definitions provided. Remember to select a different source of cost advantage for each definition. Once you click Check, the correct matches will remain in place, while the wrong matches will return blank. Source of cost advantage Production techniques Capacity utilisation Product design Economies of learning Residual efficiency Economies of scale Input costs Production techniques Definition Products or services can be designed with the specific aim of keeping costs low, thus achieving cost advantage. Cost advantage comes when individual skills and organisational routines are improved through experience. Cost advantage is obtained by improving process technology and/or introducing innovative process design approaches such as the 'just- in-time' inventory system. Cost advantage comes when producing more of something brings down the overall cost of production because fixed costs are spread on a larger number of units. Cost advantage comes from being able to utilise capacity and adjust to changes in demand more efficiently than competitors. Cost advantage is derived from costs related to labour, location and bargaining power in negotiations with suppliers. A reduction in overall 'organisational slack' and other unnecessary costs produces cost advantage.
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