OM 300 Study Guide - Final Guide: Delphi Method, Exponential Smoothing, Time Horizon

• School: University of Alabama
• Department: Operations Management
• Course: OM 300
• Professor: Andrea Marks

Document Summary

Global company profile: fedex: why they chose a hub approach, why they chose memphis. Why are locations decisions so important: globalization- importance, market economics, better communications, faster/ better shipping, ease of capital flow between countries, differences in labor costs. What factors should be considered when making a location decision: labor productivity**, exchange rates, costs*** (tangible and intangible, political risks, proximity*** Methods used to evaluate/compare location possibilities: center of gravity- distribution centers, factor rating, locational cost volume analysis, best paired with**, benefits of each, 3 math questions*** and 2 concept questions*** Demonstrate ability to use and make decisions based on results of each evaluation method: factor rating highest value. Compare the location strategies between service and goods-producing firms: table 8. 6 (1 question***) How does la quinta choose profitable hotel sites: what they did in order to decide location, type of analysis. Global company profile: walt disney parks and resort. What is forecasting: art and science of predicting the future.