Principles Of Operations Management
Principles Of Operations Management
11th Edition
ISBN: 9780135173930
Author: RENDER, Barry, HEIZER, Jay, Munson, Chuck
Publisher: Pearson,
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Chapter 11.S, Problem 1P
Summary Introduction

To determine: The factors to be considered to come up with probability of super-event or unique-event.

Introduction: Supply chain management is one of the important elements of a business, which impacts the business product development. With expanding business in global conditions, supply chain activities can impact on the cost effectiveness of the business.

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How would you go about attempting to come upwith the probability of a “super-event” or the probability of a“unique-event?” What factors would you consider?
How would you go about calculating the likelihood of a "super-event" or a "unique event?" What variables would you take into account ?
From a risk management perspective, what are possible interpretations of 'probability'?

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Principles Of Operations Management

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