Discuss Some of the Key Economic and Noneconomic Factors That

question 83

Essay

Discuss some of the key economic and noneconomic factors that are evaluated in making a facility location decision.

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Definitions:

Cycle Times

The entire duration from start to finish of a process, signifying the quickness and productivity of manufacturing or operations.

Flexibility

The ability to adapt to changes or circumstances without significant difficulty.

Morale

The overall outlook, confidence, feeling, and spirit of a person or group, especially in the context of work or duties.

Pareto Analysis

A statistical technique in decision-making used for the selection of a limited number of tasks that produce significant overall effect. It is often referred to as the 80/20 rule.