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A company has a bottleneck operation that slows production

Finance

A company has a bottleneck operation that slows production. Which of the following tools or approaches could the firm use to determine the most cost-effective ways to eliminate this problem?

    1. Linear programming.
    2. Theory of constraints.
    3. Decision-tree diagrams.
    4. Payoff matrices.

 

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Answer: b . Theory of constraints .

The problem of slow production can be eliminated by theory of constraints. Theory of constraints is the method or process of identifying the most important constraints standing in between goal of a company. Once identified, it is systematically improved or eliminated.

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