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MGT303: Quiz 3 Notes

by: Giulia Dias Roncoletta

MGT303: Quiz 3 Notes MGT 303

Giulia Dias Roncoletta
GPA 3.5
MGT 303 - Operations Management
Murat Erkoc

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About this Document

Last week's quiz notes, for the upcoming test nest wednesday!
MGT 303 - Operations Management
Murat Erkoc
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This 2 page Bundle was uploaded by Giulia Dias Roncoletta on Thursday October 15, 2015. The Bundle belongs to MGT 303 at University of Miami taught by Murat Erkoc in Summer 2015. Since its upload, it has received 43 views. For similar materials see MGT 303 - Operations Management in Business, management at University of Miami.

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Date Created: 10/15/15
Giulia Dias Roncoletta October 14 2015 Chapter 8 Notes 251 259 The Strategic Importance of Location most important strategic decision is where to locate their operations Location greatly affects both fixed and variable costs Location has a major impact on overall risk and profit of the company Costs on location include taxes wages raw material costs and rents Companies must change location for certain specific reasons 1 demand has outgrown the current plant s capacity or 2 changes in labor productivity 3 exchange rates cost or local attitude or 4 shifts in demographics and customer demand Location options include 1 Expanding an existing facility instead of moving 2 maintaining current sites while adding another facility elsewhere 3 closing existing facility and moving to another location Industrial mimimize costs Retail maximize revenue Warehouse cost and speed of delivery The objective of location strategy is to maximize the benefit of location to the firm When innovation is the focus and not costs there are four attributes that apply 1 Presence of high quality inputs technical talent 2 Environment that encourages investors 3 Pressure of sophisticated local markets 4 Local presence of supporting industries Factors That Affect Location Decisions Globalization development of 1 market economies 2 better international communications 3 more rapid reliable travel and shipping 4 ease of capital flow between countries 5 high differences in labor costs w f v o 139 39 Labor Productivity Labor cost per day wage production units per day labor cost per unit poor training education work ethic not a good buy even if wages are lower Exchange Rates and Currency Risk Foreign currencies continually rise and fall in most countries such changes could well make what was a good location in 2010 be a disastrous location in 2015 Costs There are two types of costs tangible and intangible tangible readily identifiable labor utilities taxes materialc depreciation accounting intangible less easily qualified quality of education community attitudes quality and attitude of employees also quality of life variables


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