Tag: Operations

Writing a Business Plan – Operations Strategy

A business plan includes many sections including an assessment of your product and your operations strategy. Operations have a steep learning curve, but many successful companies, such as Wal-Mart, have grown by leveraging their operational infrastructure.

Operations and Your Company

This will depend on the nature of your business. If you’re selling a consumer good, it will be important to make sure you can get your products to your clients at the time you promise. A service company relies on an operational plan to make sure customers are taken care of in an efficient manner. When writing your business

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Production plan: Top tips for improving your operations

Effective planning hinges on a sound understanding of key activities that entrepreneurs and business managers should apply to the planning process. Here are some examples:

Forecast market expectations

To plan effectively, you will need to estimate potential sales with some reliability. Most businesses don’t have firm numbers on future sales. However, you can forecast sales based on historical information, market trends and/or established orders.

Inventory control

Reliable inventory levels feeding the pipeline have to be established and a sound inventory system should be in place.

Availability of equipment and human resources

Also known as open time, this is the period

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Business Production and Operations – Practice Test Questions & Chapter Exam

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Question 1

Profitability refers to:

Question 2

Operations management can be described as the overseeing and controlling of the _ to include materials planning, process planning, capital requirements, and human capital.

Question 3

What are the two types of data related to management information systems (MIS)?

Question 4

A bar chart that demonstrates a project’s schedule, showing terminal and summary elements from start to finish, is called?

Question 5

ISO 9000 is attractive to organizations who

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Question 6

Which production method attempts to keep production and inventory to only what

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