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Indicate how each of the following might promote or impede the objective to maximize long-run profitability: a)...

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General Management

Indicate how each of the following might promote or impede theobjective to maximize long-run profitability:

a) Decrease average cycle time    

b) DecreaseWIP        

c) Increase product diversity      

d) Improve productquality      

e) Improve machine reliability     

f) Reduce setuptimes       

g) Enhance workercross-training     

h) Increase MachineUtilization     

Answer & Explanation Solved by verified expert
4.1 Ratings (555 Votes)
a Decrease average cycle time Increases profitability in the long run As we reduce cycle time the product will reach customer at right time where the demand is peak and the profitability will be more b Decrease WIP Increases the profitability in long run Material in WIP is considered as current asset but its contribution to the profits is nil The final product    See Answer
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