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34 Cards in this Set
- Front
- Back
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Definition of Operations Management
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Manufacturing and service processes that use an organization's recourses to transform inputs to outputs
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Definition of Supply Chain Management
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Processes that move information and material to and from the operations processes where transformation occurs.
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4 Types of transformations
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Physical Locational Physiological Informational |
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3 components of the "Triple Bottom Line"
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Economic (Profit) Environmental (Planet) Social (People) |
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5 Distinctions between Goods and Services
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Tangibility of Product Inventory of Output Customer/Process Interaction Market Scope Quality Measurement |
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7 Competitive Priorities
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Cost Quality Delivery Flexibility Service Environmentalism Social Responsibility |
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What is Product Quality
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Features of the Product / Service
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What is Process Quality
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Delivering it consistently 'defect free'
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Order Winner?
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Characteristics that distinguish it from its competition so that it is selected as the source of purchase
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Order Qualifier
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Minimum Characteristics of a firm or its products to be considered as a source of purchase
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Definition of a project
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A series of related jobs usually directed toward some major output and requiring a significant time to preform.
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3 Characteristics of Conventional Projects
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-Repetitive -Tasks, Sequence, Durations, and resource requirements are known -Tested methods are preferred |
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3 Characteristics of Innovative Projects
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-Unique Projects -Non-linear progress, iterations, change is normal -Flexible plans |
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What 3 criteria should be used to evaluate if a project has been a success
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Cost Time Quality |
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4 things the Work Breakdown Structure (WBS) facilitates for the project manager
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Planning, Budgeting, Scheduling, Control
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Definition of an activity
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A task that consumes time and resources
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Definition of an Event
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A point in time that represents the start or completion of one or more activities
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Definition of a Milestone
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An event of major significance
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Critical Path definition
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Sequence of activities that requires the longest total time from start to finish
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2 Strengths of Critical Path Method
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-Allows project manager to allocate resources more productively -Calculates completion dates and slack times for all activities |
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2 Weaknesses of Critical Path Method
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-Task times are deterministic. Only one completion date is calculated -No indication of risk / spread of project |
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Strength of Program Evaluation and Review Technique (PERT)
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Under certain assumptions, the PERT method may be used to estimate the chance (probability) of the project being completed by a specific time.
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3 Weaknesses of Program Evaluation and Review Technique (PERT)
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-Eliciting Data -Use of statistics -Completion time probably only considers the longest path |
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Direct costs means that while reducing the project duration costs will
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Increase
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Indirect costs means that while reducing the project duration costs will
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Decrease
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3 Types of capacity strategies
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Proactive Strategy (Large capacity cushion) Reactive Strategy (Small, if any, capacity cushion) Combination |
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4 Types of Facility Layout
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Process Layout - Similar machines grouped together Product Layout - Flow-shop Group Technology Layout - Dissimilar machines grouped together to work on a product family Fixed Position Layout - product remains stationary, equipment moves instead |
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Process Layout Design :
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Process layouts are used where the flow of material (or customers) differs depending on the customer order
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Cycle time Formula
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Available time / Demand
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5 Real world issues in Line balancing
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-Physical Restrictions in assigning tasks to stations -Individual tasks can take longer than the required cycle time -Behavioral considerations -Variability in times to finish task -Mixed-model lines requiring setup |
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Total annual purchase cost is?
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Annual purchase cost + Annual Ordering Cost + Annual Holding Cost
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A items
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Top 15%, represent 70-80% of total dollar usage. Managerial involvement |
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B Items
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Next 35% accounts for 15-25% of total dollar usage. Automated control with management by exception |
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C Items
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Last 50%, Simple inventory controls for stock, represents 5% annual dollar volume
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