Operations Management
17th Edition
ISBN: 9781259142208
Author: CACHON, Gérard, Terwiesch, Christian
Publisher: Mcgraw-hill Education,
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Question
Chapter 1, Problem 15PA
Summary Introduction
To determine: The operational decision correspond to the convenience of the customer utility function.
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Which of the following operational decisions correspond(s) to the convenience component of the consumer utility function?Instructions: You may select more than one answer.a. When will the demand be fulfilled?b. How efficiently will the products or the services be delivered?c. What is the product or service to be delivered? d. Where will the demand be fulfilled?
Customer lifetime value is the stream of
income that can be generated by a
customer over his entire lifetime.
Select one:
O a. True.
O b. False.
Which of the following operational decisions correspond(s) to the price component ofthe consumer utility function?Instructions: You may select more than one answer.a. When will the demand be fulfilled?b. What are the shipping charges to the customer?c. What is the product or service to be delivered?d. Where will the demand be fulfilled?
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- What is the result when sales exceed the cost to produce goods or render services? What is the result when cost to produced goods or render services is greater than the sales? A. Selling B. Revenue C. Benchmarking D. Lossarrow_forwardWhich of the following add customer value? Group of answer choices storage time processing time setup time idle timearrow_forwardIdentify the statement that refers to the inseparability of service. a. Produced and consumed at the same time b. Produced and consumed Later c. Produced and stored for a long time d. Produced and sold Laterarrow_forward
- A retailer currently places orders with its suppliers on a weekly basis. It is considering a switch to a routine in which it places orders on a daily basis. No change is expectedin the retailer’s demand. This change will have what effect on the volatility of its orders?a. It will decrease because its orders will better match its demand.b. It will stay the same because the retailer’s demand remains the same.c. It will increase because the more frequent orders will lead to more fickle decisionsarrow_forwardWhich service improves the most of client’s use of its capabilities and resources to achieve organizational objectives? Group of answer choices: Audit Compilation Review Consultingarrow_forwardTHE CORRECT ANSWER IS OPTION A . EXPERT SOLUTION IS MISLEADINGarrow_forward
- Which of the following level of operational risks relates to model errors and losses arising from activities such as design and engineering and test procedures? Select one: a. Process Risk b. Technology Risk c. Technical Risk d. People Riskarrow_forwardWhat type of time-series components would you expect for the following products and services?a. Monthly sales of a retail florist.b. Monthly sales of milk in a supermarket.c. Daily demand in a call center.arrow_forwardBestLine Hardware In spring of last year, BestLine Hardware undertook an ambitious program to overhaul their supply chain. In early planning, BestLine predicted that they could save over 25% of their entire supply chain costs by streamlining and optimizing their practices. One of the areas that had the most promise for savings and efficiency was that of order communication and fulfillment. In the existing system, Bestline’s inventory management department triggered a request to the ordering department. The ordering department then created an order and faxed it out to one of their suppliers. The supplier marked down on the fax what could be fulfilled against the order and would fax it back to BestLine for processing. Over time, this fax-based system proved to be inefficient and error-prone. Faxes were often lost or garbled, and hand-written comments could be very difficult to interpret accurately. As a part of their supply-chain efficiency effort, BestLine decided that they would try to…arrow_forward
- If the cost of goods manufactured is higher than the cost of goods sold, which of the following is correct? A. Finished Goods Inventory has decreased. B. Work in Process Inventory has decreased C. Finished Goods Inventory has increased. D. Work in Process Inventory has increased.arrow_forward31) For a company, 40% Service Level means that Group of answer choices a) R=d¯L b) R>d¯L c) R<d¯¯¯Larrow_forwardA customer's "Willingness to Pay" should always be below the price that is being charged by the firm in the industry. - True - False - Depends - Doesn't Matter which option is correct ?arrow_forward
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