and goods‚ and in process create value for customers and solve their problems. Production and operations management talks about applying business organization and management concepts in creation of goods and services. 1.1. PRODUCT Though many authors define the product with Consumer orientation‚ it is better for us to deal with different angles‚ because it will be helpful for us to understand the subject of production and Operation Management. (i) For a Consumer: The product is a combination
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Production-possibility frontier In economics‚ a production-possibility frontier (PPF) or “transformation curve” is a graph that shows the different quantities of two goods that an economy (or agent) could efficiently produce with limited productive resources. Points along the curve describe the trade-off between the two goods‚ that is‚ the opportunity cost. Opportunity cost here measures how much an additional unit of one good costs in units forgone of the other good. The curve illustrates that
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approximately 13‚000 tons of supplies a day were delivered. The Douglas Aircraft Company‚ whose “C-54 airplanes were the backbone of the campaign”‚ released an advertisement with its headline: “Milk . . . new weapon of democracy (Standage‚ 2010).” The Douglas Aircraft advertisement is portraying the saving grace that was being provided to the Berliners by the airdrops that released supplies by the tons‚ predominantly from Douglas Aircraft planes‚ into West Berlin. Through the dark clouds‚ appear
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The Lincoln-Douglas Debates of 1858 was a very influential event that occurred in American history and has much significance‚ even till this day. The debates were in contest for the United States Senate seat in Illinois. The main topic involved in the debates was based around slavery and the separation of the union because of it. Both Lincoln and Douglas refer to the U.S. Constitution in their remarks and state different opinions surrounding what they interpret the meaning of certain parts regarding
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Management (HRM) thus plays an important function within an organization to manage employment. Being resource-centered on manpower‚ it focuses on recruiting the right people for the right job and set precise directions for employees to meet organization’s goals. As defined by Stone‚ HRM involves the productive use of people in achieving the organization’s strategic objectives and the satisfaction of individual employee needs. (Stone‚ 2005) HRM functions include main activities like Acquisition
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Answer to question 1 (1.1‚ 1.2) What are the functions‚ concepts and principles of assessment in learning and development? The function of assessment is a way to measure a learner’s competence against agreed standards and criteria. The awarding body’s assessment strategy will state which criteria needs to be met to complete the mandatory and optional units and the best method for acquiring the evidence. A range of methods will be used to decide whether a candidate has demonstrated the skills
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Functions of APEC Asia Pacific Economic Cooperation (APEC) was established in order to enhance economic and diplomatic understanding between Asian and Pacific nations. In the present context of emerging cooperation between Asian and non Asian nations‚ it is important to analyze the functions of this organization. This paper will analyze the role of the APEC from its inception till today. The APEC shows the emergence of economic understanding between the two regions Asia and Pacific. This
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Services New Delhi 1 “One must forever strive for excellence or even perfection‚ in any task however small‚ and never be satisfied with the second best….” …. JRD Tata‚ 1965 2 Outline • About TCS • About Library & Information Services Function (LIS) in TCS • Balanced Scorecard (BSC) • Emerging Practices in LIS - Vision‚ Mission‚ Values of TCS (i) User Perspective (ii) Financial Management (iii) Internal Processes (iv) Learning & Development • End Note 3 Film Journey to Excellence
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The pancreas is a dual-function gland‚ having features of both endocrine and exocrine glands. The part of the pancreas with endocrine function is made up of approximately a million[3] cell clusters called islets of Langerhans. Four main cell types exist in the islets. They are relatively difficult to distinguish using standard staining techniques‚ but they can be classified by their secretion: α cells secrete glucagon (increase glucose in blood)‚ β cells secrete insulin (decrease glucose in blood)
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PRODUCTION & OPERATIONS MANAGEMENT MB0044 SET I 1. Explain in brief the origins of Just in Time. Explain the different types of wastes that can be eliminated using JIT. Just-in-Time (JIT) is a production strategy that strives to improve a business’ return on investment by reducing in-process inventory and associated carrying costs. Just In Time production method is also called the Toyota Production System. To meet JIT objectives‚ the process relies on signals or Kanban between different
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