Explain the responsiveness strategy as an approach to product or service development
What will be an ideal response?
Organizations use a responsive product/service strategy, which leverages strong research and development
capabilities, but emphasizes speed over innovation for its own sake. Here, products and services are constantly in
development to adapt to dynamic market demands.
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The expressions total manufacturing costs and total cost of goods manufactured are not synonymous
Indicate whether the statement is true or false
In a particular process, the fixed costs are calculated at $40,000 and the variable costs at $1.50 per
unit. If 10,000 units are to be produced, what is the average cost per unit? A) $5.50 B) $2.00 C) $1.50 D) $4.00 E) none of the above
You are the head of supply-chain management at a large manufacturing company in the Midwestern United States. You just returned from a series of workshops on how technology is being deployed by different companies around the world to improve their supply-chain management activities. You are excited about the prospect of increasing the use of technology in your firm. Which one of the following reasons would you use to convince your firm's CEO to invest more money in technology for supply-chain management?
A. It will eliminate product defects in the manufacturing process. B. It will eliminate errors in financial reporting in the accounting department. C. It will significantly reduce marketing costs. D. It will increase the sales force's success rate in winning new customers. E. It will create a more effective process for matching inventory needs to manufacturing requirements.
Platinum Gym has 10,000 gyms members out of which 1500 memberships included Unlimited Fitness Training and use of the tanning salon, and out of which 750 included Unlimited Hydromassage. If the Fitness Training are considered A, the use of the tanning
salon are considered B, and the Hydromassage are considered C, then the associate rule for these sales become, "If A and B are purchased, then C is also purchased." Given total transactions for C is 3000 . Calculate the lift for this rule.