Question: 7. What is Linear Programming and how can it be used in business operations? Describe two Linear Programming methods and explain the advantages and disadvantages
7. What is Linear Programming and how can it be used in business operations? Describe two Linear Programming methods and explain the advantages and disadvantages of each.
8. What is the difference between a service business and one involved in the creation or merchandising of goods? Give examples of each. Describe the service-product bundle and service recovery. Why is understanding the concepts of service operations so important to a graduating college student?
9. U.S. manufacturing uses traditional inventory control methods such as EOQ, continuous/periodic review, and ABC classification. Describe these methods and contrast with Japanese JIT inventory management.
10. Operations Management utilizes various quantitative tools for decision making. Describe some of these tools and how they are used. How does qualitative reasoning fit in with quantitative analysis in operations decision making?
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