Operation/Process Strategy
What is operations strategy?
Set of policies, objectives, and action plans directly affecting the operations function which is aimed at a long-term sustainable advantage over competition.
Difference between Independent and dependent demand
Independent demand are demand for goods ready to be used and sold. Dependent demand are demand for components of goods ready to be used and sold.
What is supply chain?
Sequence of organizations- their facilities and activities- that are involved in producing and delivering a product.
What are some quality tools used in assignments?
QFD chart, FMEA table. voicing the customer and identifying possible failures.
Define Productivity/ partial/ multifactor
Measure of output/input. Partial productivity based on a single input. Multi-factor productivity based on more than 1 input
What is the Theory of constraints? (TOC)
systematically improving until constraints (bottleneck) no longer limits.
What is ABC classification?
Groups inventory items into 3 classes (ABC) according to importance. This then allocates inventory control accordingly.
What are logistics?
Movement and warehousing of materials and products. Includes transportation, warehousing, and distribution.
What does CDCI stand for?
1. concept (feasibility) 2. design (identify customer requirements, product verification) 3. construct (build design) 4. implement
What is facility layout? name the types of layouts (4)
Location of departments, machines, and equipment in a facility. 1. Process 2. product 3. Fixed-position 4. cellular/hybrid.
What is the main/supporting goals of Lean?
Main goal:A balanced rapid flow,
Supporting goals: elimination of disruptions, system flexibility, elimination of waste.
Elements of a good forecast? (hint. there's 7)
1. Timely 2. Accurate 3. reliable 4. meaningful units 5. in writing 6. simple to understand/use 7. cost-effective
What are the Transportation methods?
1. Pipelines 2. Waterways (ships) 3. Railroads 4. Trucking 5. Air freight
What is FMEA stand for and what is it?
1. Failure 2. Mode 3. Effects 4. analysis. method for identifying possible failures in a product or process.
Product/ Process matrix
1. Job shop 2. Batch 3. Assembly Line 4. Continuous
What is reorder point? what is the formula?
method to determine when to order . rop= d x lt
What are the Forecasting methods? (judgemental and quantitative)
Judgemental: Executive opinions, sales force opinions, consumer surveys, historical analogies, expert opinions
Quantitative: Time series, Naive, moving average, weighted moving average, exponential smoothing.
What is the Bullwhip effect?
demand/order variability gets progressively larger the further back in a supply chain the company is.
What is Total Quality Management? (TQM)
Method for identifying the "bottleneck" that disables maximum productivity and improving the constraint until it is no longer the "bottleneck".
1. Facility 2. Capacity 3. vertical integration/outsourcing 4. Supplier relationship/ partnership 5. product mix and new products 6. Production process types and technology 7. Human resources 8. Quality 9. Operations infrastructure and systems.
What are the building blocks of Lean? (4)
1. Product Design 2. Process design, 3. Personnel/organizational elements 4. planning and control
What is Economic order Quantity (EOQ) what is the formula?
The order size that minimizes total annual inventory cost. Formula is: Square root of ((2 annual demand)(order or setup cost))/Annual holding cost.
Name the benefits of warehousing/distribution (6)
1. stocking 2. consolidation 3. breaking-bulk (de consolidation) 4. cross-docking 5. value-added services 6. reverse logistics