Operations Management Economics
1. What is operations management? Why is it important? Is a good knowledge of operations management more important in service or manufacturing industries? Explain your answer.
2. Discuss the use of PERT/CPM techniques for managing projects. Describe what PERT/CPM does. Discuss advantages and disadvantages of using it. What other techniques might you choose to manage your project?
3. What are economies of scale in a manufacturing plant? Do they continue forever? What are diseconomies of scale? How might you decide the optimal size of a plant?
4. What, in your opinion are the 3 most important issues in supply chain management. Discuss why you think these are the key issues.
5. Discuss why (or if) inventories are necessary. What are the benefits of inventories? What are the disadvantages of holding inventories?