6. What are principles of QMS? 7. What is the purpose of inventory in operations management?
8. What is the difference between horizontal and vertical integration?
9. What does scope of operation means?
10. What are forecasting model?
11. Why forecasting is importance for business success? Describe briefly.
12. What is SIPOC analysis?
13. Define briefly productivity and its types.
14. What are the types of capacity management? 15. Define the following terms a. Muda b. Mura c. Muri.

Juniper company uses a perpetual inventory system and the gross method of accounting for purchases. the company purchased $9,750 of merchandise on august 7 with terms 1/10, n/30. on august 11, it returned $1,500 worth of merchandise. on august 26, it paid the full amount due. the correct journal entry to record the merchandise return on august 11 is:

Witch is an example of a non durable good?

What is the relationship between marginal external cost, marginal social cost, and marginal private cost? a. marginal social cost equals marginal private cost plus marginal external cost. b. marginal private cost plus marginal social cost equals marginal external cost. c. marginal social cost plus marginal external cost equals marginal private cost. d. marginal external cost equals marginal private cost minus marginal social cost. marginal external cost a. is expressed in dollars, so it is not an opportunity cost b. is an opportunity cost borne by someone other than the producer c. is equal to two times the marginal private cost d. is a convenient economics concept that is not real