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6 Cards in this Set

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  • Back
What are the business trends currently having an impact on operations management
Productivity improvement, global competitiveness, technological change, environmental, ethical, diversity issues
What are the basic steps in decision making
1. Recognize and clearly identify the problem, 2. collect information to analyze solutions, 3. Choose most attractive alternative, 4. implement alternative
What is multifactor productivty
ratio of the value of output to the value of input
Productivity
The value of outputs (services and products) produced divided by the values of input resources (wages, cost of equipment, etc.)
What is productivity the basic measure of?
Performance
How can you measure the value of outputs
What customer pays, number of units produced