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Operations Management: Sustainability and Supply Chain Management, Twelfth Edition
book

Operations Management: Sustainability and Supply Chain Management, Twelfth Edition

by Jay Heizer, Barry Render, Chuck Munson
February 2016
Intermediate to advanced content levelIntermediate to advanced
480 pages
219h 58m
English
Pearson
Content preview from Operations Management: Sustainability and Supply Chain Management, Twelfth Edition

Application of Decision Trees to Product Design

Student Tip

A decision tree is a great tool for thinking through a problem.

Decision trees can be used for new-product decisions as well as for a wide variety of other management problems when uncertainty is present. They are particularly helpful when there are a series of decisions and various outcomes that lead to subsequent decisions followed by other outcomes. To form a decision tree, we use the following procedure:

  1. Be sure that all possible alternatives and states of nature (beginning on the left and moving right) are included in the tree. This includes an alternative of “doing nothing.”

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Publisher Resources

ISBN: 9780134422404