Unit 4 Operations management

Question 1

Inventory management

Answer 1

managing the entire process involving raw materials, se i finished good and finished goods

Question 2

Inventory?

Answer 2

the store of materials for supply or production

Question 3

Intellectual capital

Answer 3

intangible capital
e.g
human capital
structural
relational

Question 4

Production vs productivity?

Answer 4

production = the quantity of output
productivity = ratio of output to inputs

Question 5

Offshoring?

Answer 5

relocation of a business in a country to the same or another company