bike simulation Flashcards

1
Q

product design

A

product design: creating a product customers will want to buy

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2
Q

quality function deployment

A

method that uses customer wants and needs to help bring produced to the market
1. research
2. product design
3. engineering
4. manufacturing
5. sale and distribution

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3
Q

positive vs. negative correlations

A

positive: which features add to product satisfaction
negative: which features take away from product satisfaction

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4
Q

goal of production scheduling

A

produce enough units in the factor to satisfy the demand created by the marketing department

no stockout, ending inventory, and excess operating capacity

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5
Q

fixed capacity

A

maximum number of units the factor can produce in a work day; determined by size of factory

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6
Q

operating capacity

A

number of units to produce each day to meet projected demand
- upper limit is fixed capacity
- portion of fixed capacity you actually use in production
- how you set op capacity determines number of factory workers to hire and how fast to run production line

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7
Q

maximum inventory

A

upper limit of units to leave on the shelf at end of quarter, keep inventory levels controlled and consistent with demand

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8
Q

stockout

A

operating capacity too low, unhappy customerse

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9
Q

excess inventory

A

operating cap too high, unsold units don’t bring any revenue to offset production costs

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10
Q

excess operating capacity costs

A

if op capacity is too high and factory manager must stop production line completely, must still pay costs of factory maintenance and factory workers wages while production idle is idle
- increase production costs, hurt bottom line

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11
Q

demand curve

A

higher the price the lower the quantity demanded

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12
Q

pricing survey

A

best way to estimate demand curve is to split survey audience into different groups, ask each group if they’re willing to purchase at given price and how much

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13
Q

demand schedule

A

table that shows quantity demanded of good/service at diff price levels

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14
Q

factors of cost

A

supply cost, production overhead, labor cost, marketing cost

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15
Q

accounting transaction

A

any business activity that affects assets, liabilities, equity

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16
Q

double entry accounting

A

two diff entries in accounting book to keep equation booked

17
Q

profitability analysis

A

process to help you determine if your business or element of your business is profitable

18
Q

cost object

A

a cost being tied to an element of your business, departments, products, geographical regions

19
Q

costs linked to bikes

A

Rebates
Cost of goods sold
R&D to design products
Advertising
Point of Purchase Display

20
Q

costs linked to regions

A

Rebates
Costs of goods sold
Marketing research
Sales force expenses
Sales office lease
Advertising
Point of purchase

21
Q

product profitability statement

A

costs associated with product, shows profitability of product, can be compared to other products

22
Q

regional profitability statement

A

costs associated with region, shows profitability of region and can be compared to other regions