Operations Management Final Exam QUESTIONS AND 100% CORRECT ANSWERS 2024

The Strategic Importance of Location - correct answer Once committed to a location, many resource and cost issues are difficult to change The objective of location strategy - correct answer is to maximize the benefit of location to the firm Location and Costs - correct answer Location decisions require careful consideration Once in place, location-related costs are fixed in place and difficult to reduce Effort spent determining optimal facility location is a good investment Factors That Affect Location Decisions - correct answer Globalization adds to complexity Drivers of globalization Market economics Communication Rapid, reliable transportation Ease of capital flow Differing labor costs Key Success Factors for location decisions - correct answer 1. Political risks, government rules, attitudes, incentives 2. Cultural and economic issues 3. Location of markets 4. Labor talent, attitudes, productivity, costs 5. Availability of supplies, communications, energy 6. Exchange rates and currency risks