MGT603 Module 4 Discussion 4 - Evaluate the effectiveness of operations

Business Finance - Management HOMEWORK

MGT603 Module 4 

Discussion 4: Evaluate the effectiveness of operations management

Instructions

You work in a service-based organization. A few employees have approached your management team with inventory concerns. The inventory program seems mismanaged and could use a facelift. The previous manager was utilizing a revenue management approach in hopes that optimization was a possible outcome. Using the textbook or outside sources, answer the following discussion questions. 

Q1 Think back to your problem statements. What inventory model does your organization use now?  Is there a more effective model that should be considered? If so, why? 

Q2 What is the difference between yield management and revenue management for service-based organizations? Is a revenue management approach appropriate in a service-based organization? Explain your answer. 

Q3 How can service companies carry labor inventory? Provide one example.