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Evaluate the relevance of Break-Even Analysis in the modern manufacturing environment.
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- How does the Work-in-process inventory play an important role in manufacturing?P5 define the types of manufacturing approach, such as make to stock, make to order and engineered to order.In any given manufacturing scenario, what factors should be considered when determining whether to use a work order cost system or a process cost system?
- write the importance of demand management for a manufacturing organizationDescribe the characteristics of good production metrics and the types of KPIs that companies should monitor?Explain the concept of “Production Mix Modification” strategy by using the following data, which show the time required to process 3 tasks at a manufacturing shop. Provide conclusions on what sequence of production is the best. Task 1: Flow time=10 minutes Task 2: Flow time = 6 minutes Task 3: Flow Time= 8 minutes
- Explain the relationship between different volume-variety requirements and the choice of manufacturing process types using the ‘product-process’ matrix.Explain the concept of 3D printing, including the various technologies used in additive manufacturing and their respective strengths and weaknesses.Describe to us why it is so critical to connect product requirements with production procedures.