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Applied linear regression models by John Neter

By John Neter

Utilized Linear Statistical types

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The second approach also considers the relationship between the problem area and operations strategies. The third approach allows for soft factors, such as the effects of the problem areas on people in ways that cannot be quantified. Whichever approach you decide to use, the next step is to assess the relative effects of the problem areas. A tool that is commonly used for this purpose is a Pareto chart (or Pareto diagram). Most people understand the 80-20 rule, which is also known as the Pareto principle—20 percent of the activities yield 80 percent of the results.

How serious are the problems? How much are the problems that employees have noted affecting the systems or processes? How big are the gaps between performance and expectations? Quantifying the effects of problem areas depends on the systems and processes and on the performance metrics you use. You should question people in any work unit affected by the problem areas. For each problem, you can ask questions like the following: ■ ■ ■ ■ ■ ■ Where is the impact? On production capacity? On scheduling?

Would our employees have the skills to produce it? Would we need to provide training? Would we need to hire people with the required skills? Sourcing/Purchasing ■ Could we obtain the materials necessary to produce this product? What quantities would we need? What suppliers could we use? What would the materials cost? Marketing ■ What would be the market potential for this product? ■ How would we reach potential customers? ■ How would we develop the market for this product? 22 Manager’s Guide to Operations Management Finance ■ What would be the financial potential of this product?

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