Question 18 The study of operations management is A.Design, operation and improvement of productive systems B.A sequence of activities across organizations that are involved in producing and delivering a product or service C.A series of activities from suppliers to customers that add value to a product or service D.The identifcation of and elimination of activities from suppliers to customers that do not add value
Breakeven Analysis
Break Even Analysis is a term used in business, cost accounting and economics. It refers to a point where the total cost incurred becomes equal to the total revenue earned. Break Even Analysis determines the number of units to be sold to earn the revenue required to cover the total costs. Total cost is a sum total of fixed and variable costs.
Process analysis
The term process analysis can be defined as breakdown of production process into different phases that converts inputs into output. A series of routine activities are incorporated using organizational resources with a view to achieve operational excellence.
Question 18
The study of operations management is
A.Design, operation and improvement of productive systems
B.A sequence of activities across organizations that are involved in producing and delivering a product or service
C.A series of activities from suppliers to customers that add value to a product or service
D.The identifcation of and elimination of activities from suppliers to customers that do not add value
Question 21 TRUE OR FALSE
Businesses that use Just in Time (JlT) purchasing consider purchase price to be the only cost
Question 25
Supply chain management is the study of
A.Material flows, information flow and financial flows across organisations
B.Material flows, information flow and fnancial flows within organisations
C.Suppliers involved in getting goods or
D.The measure of costs across organisations to determine the customer selling price
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