MAR 3203 Final

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Percentage Invested in Inventory

(average inventory investment / total assets) x 100

Service attributes

- reliability - responsiveness - assurance - empathy - tangibles

Process analysis and design tools

1. Identify Opportunities 2. Define the scope 3. Document the process 4. Evaluate performance 5. Redesign the Process 6. Implement changes

Four process strategies

1. Process 2.Repetitive 3.Product 4.Mass customization

Product Focused

A facility organized around products; a product-oriented, high-volume, low-variety process. Continuous processes because they have very long, continuous production runs.

Repetitive Process

A product-oriented production process that uses modules. More structure and less flexibility than process-focused.

Process Focused

A production facility organized around processes to facilitate low-volume, high-variety production.

Which of the following is NOT a valid principle of bottleneck​ management? A. Increasing the capacity of a​ non-bottleneck station increases the capacity for the whole system. B. Release work orders to the system at the pace set by the​ bottleneck's capacity. C. Lost time at the bottleneck represents lost capacity for the whole system. D. Increasing the capacity of a​ non-bottleneck station is a mirage.

A. Increasing the capacity of a​ non-bottleneck station increases the capacity for the whole system.

Toyota attempts to have at least two​ suppliers, each in a different geographical​ region, for each component to mitigate which type of supply chain​ risk? A. Natural catastrophes B. Distribution C. Political D. Economic

A. Natural catastrophes

Which of the following statements is​ TRUE? A. When multiple suppliers are​ used, having geographically dispersed suppliers could lessen the probability of all failing simultaneously. B. The risk mitigation effectiveness of using multiple suppliers has nothing to do with the probability of a​ super-event occurring. C. It is usually less risky to use single suppliers rather than multiple suppliers. D. When multiple suppliers are​ used, having geographically centralized suppliers could lessen the probability of all failing simultaneously.

A. When multiple suppliers are​ used, having geographically dispersed suppliers could lessen the probability of all failing simultaneously.

Most bank teller services are operated with what kind of​ system? A. ​multiple-server, single-phase B. ​single-server, single-phase C. ​single-server, multiphase D. ​multiple-server, multiphase

A. ​multiple-server, single-phase

Weeks of Supply

Average inventory investment / (Annual cost of goods sold / 52 weeks)

Which of the following is the LEAST likely reason to crash a​ project? A. A critical path activity is behind schedule B. A​ non-critical path activity is behind schedule C. The project is behind schedule D. The project completion date has been moved sooner

B. A​ non-critical path activity is behind schedule

Competing on cost is A. concerned with uniqueness. B. achieving maximum value as perceived by the customer. C. concerned with reliability of scheduling. D. based upon flexibility.

B. achieving maximum value as perceived by the customer.

A strategy is A. a functional area of the firm. B. an action plan to achieve a mission. C. established prior to establishing a mission. D. the purpose for which an organization is established.

B. an action plan to achieve a mission.

A set of​ skills, talents, and capabilities in which a firm is particularly strong is referred to as A. differentiation B. core competencies. C. key success factors​ (KSFs). D. experience differentiation.

B. core competencies.

Which of the following activities does NOT belong to the controlling phase of project​ management? A. shift resources B. define the project C. monitor​ resources, costs,​ quality, and budgets D. revise plans

B. define the project

Which of these is a reason why outsourcing continues to​ expand? A. more expensive transportation B. increased technological expertise and specialization C. less reliable transportation D. rapid development and deployment of advancements in automation

B. increased technological expertise and specialization

Which of the following industries has the highest supply chain cost as a percentage of​ sales? A. metals B. petroleum C. automobile D. restaurants

B. petroleum

With regard to the​ cost-based price model negotiation​ strategy, which of the following is​ true? A. Prices are based in some way upon market standards agreed to by both supplier and purchaser. B. Prices float based on what the customer is willing to pay. C. Prices are based upon supplier costs. D. Potential suppliers each submit quotations as to​ price, delivery, and so on.

C. Prices are based upon supplier costs.

Which of the following is NOT true about the bullwhip​ effect? A. Channel coordination means determining lot sizes as though the full supply chain was one company. B. ​"Bullwhip" fluctuations create unstable production​ schedules, resulting in expensive capacity change adjustments. C. The bullwhip effect can occur only when orders increase. D. The bullwhip effect describes the tendency for larger order size fluctuations as orders are relayed to the supply chain from retailers.

C. The bullwhip effect can occur only when orders increase.

Most organizations operate A. above their design capacity. B. at their design capacity. C. below their design capacity. D. below the theory of constraints.

C. below their design capacity.

Competing on differentiation is A. based upon​ low-cost leadership. B. concerned with reliability of scheduling. C. concerned with uniqueness. D. based upon flexibility.

C. concerned with uniqueness.

The advantage of having few suppliers is to A. look for​ short-term attributes. B. pursue low cost. C. form a​ long-term relationship. D. take advantage of diseconomies of scale.

C. form a​ long-term relationship.

Which of these is NOT an advantage of​ outsourcing? A. cost savings B. gaining outside expertise C. potential creation of future competition D. accessing outside technology

C. potential creation of future competition

High-volume, low-variety production is best suited for which of the following process​ strategies? A. mass customization B. process focus C. product focus D. repetitive focus

C. product focus

Core competencies

COMPETITIVE ADVANTAGE A factor that a business see's as a key to their success.

Which of the following hypothetical critical path activities would be most beneficial to​ crash? A. Crash cost​ = high, normal time​ - crash time​ = high B. Crash cost​ = low, normal time​ - crash time​ = low C. Crash cost​ = high, normal time​ - crash time​ = low D. Crash cost​ = low, normal time​ - crash time​ = high

D. Crash cost​ = low, normal time​ - crash time​ = high

Which of the following strategies helps to smooth utilization of​ facility, equipment, and​ personnel? A. Raise prices when capacity exceeds demand. B. Market aggressively when demand exceeds capacity. C. Hire only temporary​ part-time employees. D. Offer products with complementary demand patterns​ (e.g., jet skis and​ snowmobiles).

D. Offer products with complementary demand patterns​ (e.g., jet skis and​ snowmobiles).

A large quantity and large variety of products are produced in A. product focus. B. process focus. C. repetitive focus. D. mass customization.

D. mass customization.

Among the​ following, critical path and slack time analysis MOST help A. point out who is responsible for various activities. B. managers define the project activities. C. highlight relationships among project activities. D. pinpoint activities that need to be closely watched.

D. pinpoint activities that need to be closely watched.

Which of the following is NOT one of the major causes of the bullwhip​ effect? A. demand forecast errors B. price fluctuations C. order batching D. shared demand information

D. shared demand information

Which of the following is the core competence for​ Honda? A. sustainable design B. advertising C. product flexibility D. ​gas-powered engines

D. ​gas-powered engines

Outsourcing

Hiring another organization to perform service to save costs, gain expertise, free up management time, & refocus on core competencies

Slack Time

Late Start (LS) - Early Start (ES)

Logistics management

Management of the movement and storage of materials at lowest cost while still meeting customer requirements

Percent Change Formula

New - Old / Old

Mass Customization

Rapid, low-cost production that caters to constantly changing unique customer desires.

Six Sigma

a customer focused, well defined problem solving methodology supported by a handful of powerful analytical tools (99.9997% perfection)

Bottleneck Time

a process in a chain of processes, such that its limited capacity reduces the capacity of the whole chain.

Effective Capacity Formula

actual capacity / efficiency

Utilization Rate

actual output / design capacity

Efficiency Rate

actual output / effective capacity

Project manager responsibilities

assigned by the performing organization to lead the team that is responsible for achieving the project objectives

Upside down y (lambda)

average arrival rate

L

average number of units in the whole system

mu

average service rate at each server (channel)

W

average time a unit spends in the whole system

Inventory Turnover

cost of goods sold / average inventory

Supply Chain Management

flow of goods and services, involves the movement and storage of raw materials, of work-in-process inventory, and of finished goods from point of origin to point of consumption.

Process redesign

focuses on activities that cross functional lines, basic process and its objectives must be reexamined

Multifactor Productivity Formula

output / (labor + materials + overhead)

Primary functions of organizations

planning, organizing, leading, and controlling.

The three phases of project management

planning, scheduling, and controlling

Project crashing

reducing project duration by increasing direct costs Crash cheapest first (crash cost/duration)

Critical path

the computed longest time path(s) through a network.

Bullwhip effect

the variability in demand is magnified as we move from the customer to the producer in the supply chain (moving upstream)


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