Chapter 1
By better matching supply with _______, a firm can gain a competitive advantage relative to its competitors.
demand
Six-sigma program is a process that has __ standard deviations on either side of the mean and the specification limit.
6
Demand ________ - the process of creating statements about future realizations of demand.
forecasting
Arrival Rate = ______ Rate
Demand
Customer demand is shaped by customers' _____
utility
What are the 2 different specification limits?
Lower (LSL) and Upper (USL)
Forecasts become worse as you move _____ from customers in the supply chain.
away
Interarrival Time - the time between customers ______ to the system.
arrivals
What are the 3 components of Utility?
Consumption Utility, Price, and Inconvenience
What are the 2 types of variation
Natural Variation and Assignable Cause Variation
What are the 3 types of demand forecasting?
Short-term, Mid-term, and Long-term
Pre-processing strategy - reducing the amount of work needed to process a customer during the peak time period by moving some of the work to and ____ - peak time.
off
What are the Four Dimensions of Performance?
Cost, Quality, Variety, and Time
Assignable cause variation occurs because of a specific change in input or in ________ variables.
environmental
Time series uses ______ demand (sales) observations to forecast.
historical
Queue growth rate = demand - ______
capacity