Simulation methodology can be used to test business scenarios without significant process disruptions.These scenarios include:
a. Testing different machines with different capabilities.
b. Testing new facility locations.
c. Testing alternative product designs.
d. Testing scheduling policies.
e. All of the above
E
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Grey China Advertising agency gathers a wealth of information about attitudes and buying patterns of the Chinese in its Grey China Base Annual Consumer Study
Recent findings point to growing concerns about the future, Westernization of grocery purchases, growing market saturation, increasingly discerning customers and a rise in consumer willingness to try new products. These data can be very inconsistent since conflicting findings were reported by different agencies. For example, data gathered by Euromonitor International estimates soft-drink consumption at 23 billion liters in China, while Coca-Cola's in-house marketing research team places the figure at 39 billion liters. Similar differences were noted in other data published by different agencies. What is the best approach in such situations so that finite decisions can be made? What are the differences between latent and incipient markets?
The process of identifying other organizations that are best at some facet of your operations and then modeling your organization after them is known as:
A) continuous improvement. B) employee empowerment. C) benchmarking. D) copycatting. E) patent infringement.