What is an organization's approach to transforming resources into goods and services.
100
The formula for Cycle Time
What is Production time available per day divided by units required per day.
100
The path that starts at the first activity in the project, ends at the last activity, and only includes critical activities.
What is the critical path
100
The forecasting approach that assumes that demand in the next period will be the same as demand in the current period.
What is the Naive Approach
100
Activities that relate to the creation of goods and services through the transformation of inputs to outputs is the definition of ______
What is operations management (OM)
200
Make-or-buy decision
What is the choice between producing a component and purchasing it from an outside source.
200
The formula for Productivity (single factor)
What is Units produced divided by input used
200
The three 'time' estimates in PERT
What is optimistic time, pessimistic time, and most likely time.
200
What the weighting factor in exponential smoothing is called.
What is Smoothing Constant
200
The difference between Normal time and Standard time
What is adjustments for personal needs, unavoidable work delays, and fatigue, otherwise known as the allowance factor.
300
Ergonomics
What is the study of the human interface with the environment and machines
300
The Formula for EOQ
What is Q* = Square root of ((2DS)/H)
Where D=demand, S=setup/order costs, H=annual holding cost per unit
300
The difference between the latest start and the earliest start or the difference between the latest finish and the earliest finish.
What is Slack
300
Trend, seasonality, cycles, and random variations are the four components of_____
What is A Time Series
300
The five types of layouts in operations management
What is Office layout, Retail layout, Warehouse layout, Fixed-position layout, and Process-oriented layout
400
Cost of Quality
What is the cost of doing things wrong or the price of nonconformance
400
Formula for annual stock-out costs
What is the sum of units short * the probability of that demand level * the stock-out cost per unit * the number of orders per year
400
The formula for crashing cost per period
What is (Crash cost - Normal cost) / (Normal time - Crash time)
400
The formula for weighted moving average.
What is the sum of the weight for period (n) * the demand in period (n) divided by the sum of the weights.
400
The seven factors that affect location decisions.
What is Labor productivity, Exchange rate/currency risk, Costs, Political risk/values/culture, Proximity to Markets, Proximity to Suppliers, and Proximity to Competitors
500
Economic Order Quantity (EOQ)
What is an inventory-control technique that minimizes the total of ordering and holding costs.
500
Total annual cost in the EOQ model, including purchase costs.
What is Setup/Ordering + Holding + Purchase Cost
Ex. TC = (D/Q)S + (Q/2)H + PD
Where: D=Annual Demand, Q=Economic Order Quantity, S=Setup costs per order, H=Annual holder cost per unit, and P=Price of good
500
First come, first served (FCFS), Shortest processing time (SPT), Earliest due date (EDD), and Longest processing time are all examples of what?
What are Priority Rules for Job Sequencing
500
What MAD, MSE, and MAPE stand for.
What is Mean Absolute Deviation, Mean Squared Error, and Mean Absolute Percentage Error
500
Taiichi Ohno identified seven wastes, three of which are _____,_______,________
What is overproduction, queues, transportation, inventory, motion, over-processing, and defective products.