What Information Is Necessary for an Operations Manager to Make

question 84

Essay

What information is necessary for an operations manager to make effective use of a dependent inventory demand model?

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Definitions:

Intermediate Products

Goods used as inputs in the production of other goods, including raw materials, components, and subassemblies.

Market Value

is the amount for which something can be sold in a given market at a particular time.

Final Products

Goods and services that have completed the production process and are intended for final consumption or investment.

Value Added Approach

This is a method for calculating GDP that sums the values added at each stage of production, avoiding the double-counting of intermediate goods.