According to Roger Schroeder, there are five basic functions or decision areas in production. Describe these five functions
What will be an ideal response?
The five basic functions or decision areas in production are: (1 ) Process: These decisions include choice of technology, facility layout, process flow analysis, facility location, line balancing, process control, and transportation analysis. Distances from raw materials to production sites to customers are a major consideration; (2 ) Capacity: These decisions include forecasting, facilities planning, aggregate planning, scheduling, capacity planning, and queuing analysis. Capacity utilization is a major consideration; (3 ) Inventory: These decisions involve managing the level of raw materials, work-in-process, and finished goods, especially considering what to order, when to order, how much to order, and materials handling; (4 ) Workforce: These decisions involve managing the skilled, unskilled, clerical, and managerial employees by caring for job design, work measurement, job enrichment, work standards, and motivation techniques; and (5 ) Quality: These decisions are aimed at ensuring that high-quality goods and services are produced by caring for quality control, sampling, testing, quality assurance, and cost control.
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According to Rawls's social justice theory, a person who is in a state of "veil of ignorance" is best fit to select the fairest possible ethical principles
Indicate whether the statement is true or false
Lucky Louie's base salary is $90,000 per year and he earns an additional $75,000 in annual bonus. Luckily, Lucky only has to pay FICA on
A) his base salary. B) his base salary plus bonus up to the annual legal withholding limit for FICA. C) all of his earnings. D) $130,000.