Give your assessment of the relative costs of Type I and Type II errors in the following situations where a decision is pending: a. A new synthetic feed additive is….
Define the term operations management.
. Define the term operations management.
2. Explain the decisions operations managers make and give three examples.
3. Describe the transformation process of a business. Give three examples. What constitutes the transformation process at an advertising agency, a bank, and a TV station?
4. Identify the two major differences between service and manufacturing organizations. Find an example of a service and manufacturing company and compare them.
5. Identify three current trends in operations management and describe them. How do you think they will change the future of OM?
6. Define the terms total quality management and just-in-time. What do these terms have in common?
7. What are the differences between product and service design?
8. Explain the meaning of design for manufacture (DFM) and give some examples.
9. Explain the term concurrent engineering. Why is it important?
10. Explain why capacity planning is important to a business.
11. Explain the differences between design capacity and effective capacity.