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Operations management - Wikipedia

Operations management is an area of management concerned with designing and controlling the process of production and redesigning business operations in the production of goods or services. It involves the responsibility of ensuring that business operations are efficient in terms of using as few resources as needed and effective in terms of meeting customer requirements.

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Aggregate planning should only be used in manufacturing and not in services, because services do not have inventory. False Aggregate production plans that attempt to modify both demand and supply simultaneously are easier to develop and can result in higher profits than aggregate plans that are based upon modifying supply only.

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The 45 degree line (also known as the Keynesian Cross) is a tool used by economists to show how differences in aggregate expenditures and real GDP can affect business inventories which will affect future levels of real GDP. Aggregate expenditure and GDP are both function of consumption, investment, government spending, and net exports.

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How Does One Calculate Production Rate? To calculate production rate, use the following formula: (parts/hours produced) divided by (maximum parts/hours possible) multiplied by 100 percent. Production rate is a formula that determines how many items someone can produce during a specific time period. Someone may also use it to measure worker ...

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2 The Cambridge Economic History of the Greco-Roman World Objective More than sixty years after the publication of the first volume of the Cambridge Economic History of Europe: from the decline of the Roman Empire, our volume aims, in part, to redress the neglect of Greco-Roman antiquity in the Cambridge Economic History series, and at an opportune moment, we believe.

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food manufacturer with high seasonal demand. Although the company's main concern was on raw materials costs, this study has involved all production planning process. Indeed, since raw materials are demand dependent, the managerial improvements will be achieved only with a better master production scheduling. In addition to presenting a ...

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