Summary
The learning curve is a powerful tool for an operations manager. This tool can assist operations managers in determining future cost standards for items produced as well as purchased. In addition, the learning curve can provide understanding about company and industry performance. We saw three approaches to learning curves: the doubling approach, formula approach, and learning-curve table approach. Software can also help analyze learning curves.
Key Term
Learning curves (p. 776)
Discussion Questions
What are some of the limitations of learning curves?
Identify three applications of the learning curve.
What are the approaches to solving learning-curve problems?
Refer to Example E2. What are the implications for Great Lakes, Inc., ...
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