According to the General OB Model,how Is Productivity Measured? Why

question 5

Essay

According to the general OB model,how is productivity measured? Why is it important to measure productivity?

Identify the components of operations planning in manufacturing.

Understand the advantages of standardization in manufacturing processes.

Differentiate between customization and standardization in product manufacturing.

Distinguish between the operational characteristics of service providers and manufacturers.

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Definitions:

U.S. Dollars

The United States' official medium of exchange, frequently employed as a standard in worldwide financial dealings.

Spot Market

An open financial market where commodities or financial instruments are exchanged and delivered right away.

Discount

To calculate the present value of some future amount.

Future

A standardized legal contract to buy or sell a particular commodity or financial instrument at a predetermined price at a specified time in the future.