Mgsc 395 exam 1 - Study guides, Class notes & Summaries

Break Even Analysis : Analysis to compare processes by finding the volume at which two different processes have equal total costs. pQ = F + cQ Break Even Quantity : The volume at which total revenues equal total costs. Variables for Break Even : Variable cost (c) The portion of the total cost that varies directly with volume of output. Fixed cost (F) The portion of the total cost that remains constant regardless of changes in levels of output. Quantity (Q) The number of customer...

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MGSC 395 Exam 1 Ahire with complete solution

Finance--> Material and Service Input-->Operations--> Product and Service Outputs-- >Marketing--> Sales revenue--> back to finance : Big three areas chart Acquires financial resources and capital for inputs : Finance Translates materials and services into outputs : Operations Generates sales of outputs 2 | P a g e : Marketing -Accounting -Information Systems -Human Resources -Engineerin

MGSC 395 Exam 1 Questions With Solutions customization satisfying the unique needs of each customer by changing service/product designs variety handling a wide assortment of services/products efficiently volume flexibility accelerating the rate of production of services/products quickly to handle large fluctuations in demand Service Processes intangible, perishable output. Output cannot be inventoried. High customer contact. Short response time. Labor intensive. Quality cannot be easil...

Operations management : The systematic design, direction, and control of processes that transform inputs into services and products for internal, as well as external, customers Process : Any activity or group of activities that takes one or more inputs, transforms them, and provides one or more outputs for its customers Operation : A group of resources performing all or part of one or more processes Supply chain management : The synchronization of a firm's processes with those of its...

definition of supply chain - CORRECT ANSWER-an interrelated series of processes within and across firms that produces a service or product to the satisfaction of customers the big 3 areas of business - CORRECT ANSWER-finance - acquires financial resources and capital for inputs marketing - generates sales of outputs operations - translates materials and services into outputs support functions of a business - CORRECT ANSWER-accounting, info systems, human resources, and engineering the s...

MGSC 395 Exam 1 University of South Carolina

MGSC 395 Exam 1 Ahire questions & answers

MGSC 395 Exam 1 Review Practice Test. White Tiger Electronics produces CD players using an automated assembly line process. The standard cost of CD players is $143 per unit (labor, $31; materials, $67;and overhead, $45). The sales price is $300 per unit. To achieve a 13 percent multifactor productivity improvement by reducing materials costs only, one needs to reduce the materials cost by __ percent - CORRECT ANSWER 300 / 143 = 2.0979 2.0979*1.13 = 2.370629 300/2.370629= 126.54867 ...