Samenvatting Operations Management 8th edition, Nigel Slack Questions and Answers 2023

Utility - -a measure of the customer preference of a product or service -What three components is utility composed of? - -1) consumption utility 2) price 3) inconvenience -Consumption Utility - -a measurement of how much you like a service, ignoring the effects of price and its inconvenience -Price - -the total cost of owning a product or receiving the service. Included expenses such as shipping and financing etc. -Inconvenience - -the reduction in utility that results from the effort of obtaining the product or service -What are three system inhibitors? - -1) waste 2) variability 3) inflexibility -Waste - -the consumption of inputs and resources that do not add value to the customer -Variability - -predictable or unpredictable changes in the demand or the supply process -Inflexibility - -the inability to adjust to either changes in the supply process or changes in customer demand