University of British Columbia Sauder School of Business COMM 399: Logistics and Operations Management Problem Set 1 1. Solution: (a) Some ideas that you can expand on: • • • • Organizational barriers Business culture undervalues operations Top managers often uninterested in operations Lack of “ownership” of operations (b) Some ideas that you can expand on: • Identify and break constraints • Make the special case the norm • Rethink critical dimensions of work (c) Yes‚ even though it may
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Operations Management in INSURANCE SECTOR Q. How to measure operational efficiency in service industry? Ans-Insurance companies use KPI indicators to measure operational efficiency and ensure optimum standards. The secret to success for an insurance company is providing the right product‚ having the right people selling and managing risks associated with it. Insurance organizations use and act on metrics to avoid unnecessary risks. Following are the Key Performance Indicators (KPI) that insurance
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BUS 515 – Operation Management Explain the challenge Elizabeth faced in meeting her capacity needs and what she should have considered before moving into the larger facility. The challenge that Elizabeth faced was market penetration. She did not do any type of market analysis or research to gain a better understanding of what the customer want or need. According to The US Small Business Administration information about your target market would have allowed Elizabeth to narrow her target market
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Teladoc Inc.: Operations Management & Forces The forces that have shaped the operations management of Teladoc Inc. in recent years include advancements of technology‚ health care law and policy‚ and consumer demand. The health care industry is constantly changing to meet the needs of a complex patient population. Advancements of technology and scientific knowledge has changed the patient care experience from a file-based or analog health care delivery system to a virtual health care delivery platform
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Describe the FIVE (5) marketing management orientations and explain marketing management in today’s terms. The 5 marketing management orientations are production concept‚ product concept‚ sales concept‚ marketing concept and social marketing concept. Production concept assumes that customers will want to buy products or services that are easily available and affordable. Hence‚ management would focus more on production efficiency and distribution of the product. This concept is useful when the
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Unit three Written Assignment Tiara Mureithi MT435 Operations Management Kaplan University 02/19/2013 Introduction Question One Based on the information presented in the scenario/case study discuss Albatross Anchor’s competitiveness in relation to (please address all items in the below list and provide support for your conclusions): 1. Cost a) Cost of Production: Manufacturing costs are $8.00 per pound for the Albatross mushroom/bell anchor and $11.00 per pound for Albatross snag
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Briefly explain the meaning of‚ and reasons for‚ strict liability. For strict liability offences it can be said that the prosecution does not have to prove the existence of mens rea for one or more of the elements of the actus reus of the offence. It is often said that no mens rea is needed for strict liability offences. This is probably an over simplification. A more complete answer would be that the prosecution does not have to prove the existence of mens rea for one or more of the elements of
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STUDY OUTLINE FOR CHAPTER 1 INTRODUCTION TO Operations Management 1. Operations management deals with the design and management of products‚ processes‚ services and supply chains. It considers the acquisition‚ development‚ and utilization of resources that firms need to deliver the goods and services their clients want. 2. What are the three basic functions in business organizations? 1)operation‚ or product service knowledge 2) finance 3) marketing 3. A supply chain consists
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Chapter 1 Expanding abroad: Motivations‚ means‚ and mentalities True/False 1. The largest MNEs are equivalent in their economic importance to less developed economies such as Tanzania‚ Estonia or Sri Lanka. Answer: False (Sales of the largest MNEs exceed the GDPs of less developed countries.) Difficulty: Easy Page: 4 and Table 1-1 on page 3 Topic: MNE scope and influence 2. The process of internationalization followed by most firms is usually well-thought out in advance and typically
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Comparisons: The cost of borrowing money to finance the project. Interest lost on short-term notes. Opportunity cost of forgoing one of several other projects that require funding. ACTIVITY-BASED COSTING An accounting technique that allocates overhead costs in actual proportion to the overhead consumed by the activity. Stage 1 : Assign overhead costs to activity pools Stage 2: Assign costs from pools to activities. Page 1 TRADITIONAL AND ACTIVITY-BASED COSTING Traditional Costing Activity-Based
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