Exam 2 Mgt 302

Front 1

Four phases of the project Life cycle

Back 1

1. Concept Study/Organizational commitment

2. Development

3. Implementation

4. Product Completion and Operation

Front 2

Project Milestone

Back 2

Specific Events in the life of the project

Front 3

Work Breakdown Structure

Back 3

Defines the hierarchy of project tasks, subtasks, and work Packages

Front 4

Activities

Back 4

Pieces of work that consume time

Front 5

Statement of Work

Back 5

A written description of the objectives to be achieved

Front 6

Task

Back 6

A further subdivision of a project- usually shorter than several months and performed by a single group or organization

Front 7

Work Package

Back 7

A group of activities combined to be a single organizational unit

Front 8

Gantt Charts

Back 8

Provide easily understood visual presentation

Shows time involved and sequence of activities

Front 9

Earned Value Management EVM

Back 9

- Way to measure the amount of work actually performed on a project

- Way to forecast a projects cost and completion date using historical and statistical projections

- Way to tell how well a project is performing compared to original plan

- Way to forecast how well it will perform in the future

Front 10

Schedule Variance SV

Back 10

SV=BCWP-BCWS

Front 11

Schedule Performance Index SPI

Back 11

SPI= BCWP/BCWS

Front 12

Cost Variance CV

Back 12

CV= BCWP/AC

Front 13

Lead Time

Back 13

Time needed to respond to a customer order

Front 14

Customer order Decoupling Point

Back 14

Where inventory is positioned to allow entities in the supply chain to operate independently

Front 15

Lean manufacturing

Back 15

Means of achieving high levels of customer service with minimal inventory investment

Front 16

TOF: Make-to-Stock

Back 16

-Balance level of inventory against level of customer service against level of customer service

- Easy with unlimited inventory but that costs money

- Examples, TVs clothing Packaged food

Front 17

Assemble to Order

Back 17

A primary task is to define a customers order in terms of alternative components since these are carried in inventory

Must have a design that enables high flexibility

-Examp- Dell computers

Front 18

Make/Engineer-to-order

Back 18

Customer order decoupling point could be in either raw materials at manufacturing site, or supplier inventory

- May not be possible to preorder parts

Front 19

Production process Mapping

Back 19

Develop high-level map of a supply chain process

Helps one to understand material flows and where inventory is held

First step in analyzing flow of materials through production process

Front 20

Little's Law

Back 20

Flow of items through a production process described using littles law

- Inventory= Throughput Rate* Flow time

- Througouput- Long term average rate of flow through process

-Flow Time - time for a single unit to traverse entire process

- Inventory- Mat's held by firm for future use

Front 21

Total Average Value of Inventory

Back 21

sum of value at cost of Raw WIP and FG inventory

Front 22

Inventory Turns formula

Back 22

COGS/ Average Aggregate Inventory Value

Front 23

Days of Supply

Back 23

Average aggregate value of inventory/(COGS/365)

Front 24

Production System Design:

Project Layout

Back 24

-Product remains in fixed location

- High degree of task ordering common

-Project layout may be developed by arranging materials according to their assembly priority

Front 25

Production System Design

Work Center

Back 25

-Arrange workcenters in a way that optimizes the movement of material

- Optimal Placement often means placing workcenters with large interdepartmental traffic adjacent to each other

- Sometimes referred to as a department and is focused on a particular type of operation

Front 26

Production System Design

Manufacturing Cell

Back 26

Formed by allocating dissimilar machines to cells that are designeed to owrk on similar products

Front 27

Production System Design

Assembly line and Continuous layout

Back 27

Designed for the special purpose of building a product by going through a series of progressive steps

Front 28

Organization of Production Processes:

Continuous

Back 28

Assembly line flow is continuous

Front 29

Organization of Production Processes:

Assembly line

Back 29

work processes are arranged according to progressive steps by which the product is made

Front 30

Organization of Production Processes:

Manufacturing Cell

Back 30

dedicated area where the products that are similar in processing requirements are produced

Front 31

Organization of Production Processes:

Job Shop

Back 31

Similar equipment or functions are grouped together, product in fixed location equipment is moved to product

Front 32

Assembly Line Design:

WS Cycle Time

Back 32

A uniform time interval in which a moving conveyor passes a series of workstations; time between succesive units coming off the line

Front 33

Assembly Line Design:

Assembly line Balancing

Back 33

Assigning tasks to a series of workstations so that the cycle time is met and idle time is minimized

Front 34

Assembly Line Design:

Precedence relationship

Back 34

Order in which tasks must be performed in an assembly process

Front 35

Task Splitting possibilities (4)

Back 35

-Split or Share Tasks

- Use Parallel Workers

-Use more skilled workers

- Work overtime or redesign

Front 36

Trade Offs

Back 36

-Choice of specific equipment to use in production processes an be based upon analysis of trade offs- choice between specialized and general equipment

-Specialized equip may require higher initial investment

-General often has lower investment but lacks efficiency of specialized machine

Front 37

Break even Analysis

Back 37

One way of choosing between two options

- Understand how profits/losses change for each option as total number of units varies

-best when processes have a significant initial investment and when production costs vary in proportion to the number of units produced

Front 38

Service Layouts:

Free Flow

Back 38

Pros:

-Encourage browsing, increase impulse purchases, flexible, visually appealing

Cons:

-Loitering, possible, confusion, wasted floor space, cost, difficult to keep clean

Front 39

Service Layouts:

Grid Layout

Back 39

Pros:

-Encourage customer familiarity/ repeat, low cost, easy to clean, self service, shoe store

Cons:

- Plain uninteresting, limited browsing, rushed shopping behavior, limited creativity

Front 40

Service Layouts:

Loop and Spine

Back 40

Pros:

- Both increase customer sightlines and exposure to prodducts, but encourage customer to circulate

Front 41

Virtual services- new role of customers

Back 41

- Pure virtual customer contract: companies enable customers to interact with one another in an open environment; IE ebay, second life

- Mixed virtual and actual customer contact: customers interact with one another in a server moderated environment such as product discussion groups. youtube wiki

Front 42

Service Blueprinting

Back 42

-standard tool for service process desing

Front 43

Average Utilization

Back 43

Y/U

Front 44

Average time in line=Lq

Back 44

Y^2/U(U-Y)=Lq

Front 45

Average number in system=Ls

Back 45

Y/U-Y=Ls

Front 46

Average Waiting Time Line

Back 46

Lq/Y

Front 47

Average wait time in system

Back 47

Ls/Y