Brainscape's Knowledge GenomeTM


Top Flashcards (Certified)
All Flashcards

Operations Supply Chain Management > Final Test > Flashcards

Final Test Flashcards

(56 cards)

Start Studying
1
Q

This phenomenon causes increasing variability in a supply chain

A

Bullwhip Effect

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

Bullwhip Effect

A

Accelerator effect

-Increased variability in upstream orders results in more inventory upstream

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

Two strategies for deciding when to add capacity to a system

A

-Level
-Chase

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

Level Strategy

A

Size of workforce and the rate of regular time outputs are constant

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

Chase Strategy

A

Size of workforce is changed to chase demand resulting in cycles of hiring and laying off

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

Economic Order Quantity Balances These Two Costs to Acheive the Total Lowest Cost

A

-Order Cost
-Holding Cost

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

Order Cost

A

Expenses incurred by a company when placing an order for inventory or supplies

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

Holding Cost

A

Expenses associated with storing inventory over time

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

Measure must be greater than 1 for satisfactory performance

A

Capability Index

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

Source of value according to lean philosophy

A

Customers

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

Impossible combination of Cp and Cpk values

A

Cp < 1 and Cpk > 1

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

A product development strategy based on the capabilities of the organization

A

Technology Push

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

This forecasting method is best when a trend is expected

A

Double Exponential Smoothing

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

Technique developed by Shewhart to track performance

A

Statistical Process Control

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

Value calculated based on the probability of potential values

A

Expected demand

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

Type of forecasting method is appropriate when there is limited data available

A

Qualitative Forecasting

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
17
Q

Level of strategy that should be developed last

A

Functional Strategy

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
18
Q

Step with the lowest capacity

A

Bottleneck

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
19
Q

Tools used to track the times to complete an order at a coffee shop

A

-X Bar
-R Charts

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
20
Q

Must be the same for all steps in a process to determine capacity

A

Units

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
21
Q

Scheduling method can lead to missed due dates

A

Shortest Processing Time Method

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
22
Q

Under a Q system, this can change based on the location of the supplier

A

Reorder point

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
23
Q

Determined based on the likelihood of demand being less than expected

Study These Flashcards
A

Probability of Idle Capacity

24
Q

Four Quality Associated Costs

Study These Flashcards
A
  1. Internal: Discovering poor product quality before it reaches the customer
  2. External: Product quality problems that occur after it reaches the customer
  3. Prevention: Incurred in the process of preventing poor quality
  4. Appraisal: Incurred in the process uncovering defects
25
Four dimensions that an organization may compete on:
1. Cost 2. Quality 3.Delivery 4.Flexibility
26
One management decision that would impact the reorder point (for a Q system) and the Target (for a P system)
-Lead Time -Service Level
27
Order fulfillment strategy allows the most variety of in product offerings
Make to order
28
Time span for production planning
6 months to 1 year
29
System level framework for reducing pollution and waste
Circular Business Model
30
Operations management is about
the management of processes that transform inputs into outputs
31
Why customers consider a product
Order Qualifier
32
Why customers choose a given product
Order Winner
33
New Product Design Process
1.Concept Development 2.Product Design 3.Testing
34
Product-Process Matrix
Project: Unique, one of a kind product Job Shop: Low volume, low standardization Batch: Low volume, multiple product Assembly Line: Higher volume, fewer major products Continuous: High volume, high standardization commodity
35
Process Selection: Order Fulfillment
Made to Stock: Produce finished goods, customer buys from inventory Made to Order: Start production after customer orders, no finished goods inventory Assemble to Order: Produce parts, complete production when customer places order
36
Service Delivery Matrix
Customer has great decision-making power: Customer Routed (Tattoo) (Unique) Customer has some decision-making power: Co-Routed (Disney World) (Repeatable) Customer has low decision-making power: Provider Routed (Tax-Prep) (Highly repeatable process)
37
Process Flow: Managing Bottlenecks
*System capacity is governed by the resource with the lowest capacity *Bottleneck is equivalent to your system capacity
38
Process Capability
Cp: Less than 1 -Process is not capable Cp: Equal to 1 -Process is minimally capable Cp: Greater than 1 -Process is capable
39
# Qualitative Forecasting Methods Delphi
A panel of experts answer questions and get anonymous feedback to reach consensus Accuracy: Fair to Very Good Cost: Medium to High
40
# Qualitative Forecasting Methods Market Survey
Panels, Questionnaires, Test Markets, Social Media, etc. used to gather market information Accuracy: Very good in short term Cost: High
41
# Qualitative Forecasting Methods Life Cycle Analogy
Prediction based on market maturation for similar products Accuracy: Fair to good for long term Cost: Medium
42
# Qualitative Forecasting Methods Informed Judgement
A group or an individual based on hunches, experience, context Accuracy: Poor to Fair Cost: Low
43
Basic Time Series Methods
Naive: Only the last period is important in predicting demand Simple Moving Average: The last N periods are of equal importance Exponential Smoothing: All periods are important, but the relative importance declines smoothly over time in an exponential fashion
44
Exponential Smoothing
Responsiveness: To be very responsive to recent demand, the value for sigma should be large Stability: To be less responsive to recent demand, choose a small value of sigma
45
# Scheduling Tools and Terms The time from start of first job to end of last job
Makespan
46
# Scheduling Tools and Terms The time a workstation is not working
Idle Time
47
# Scheduling Tools and Terms The time a job is not being processed
Waiting Time
48
# Scheduling Tools and Terms The time when a job is finished
Delivery Time
49
P System (Periodic Review)
Inventory: Reviewed at fixed time intervals Ordering: Time between inventory reviews Order Quantity: If invetory is less then the aforementioned target inventory level, managers inside the firm will place an order to account for the difference
50
Q System (Continuous Review)
Inventory: Monitor inventory continuously Ordering: Reorder point, when the inventory level drops below the reorder point, an order must be placed Order Quantity: The quantity ordered is the same every time, which is equivalent to EOQ
51
# Time and Cost Performance Time at each part of the supply chain is added to get the total throughput time Littles Law = Inventory/Throughput Rate
Throughput Time
52
# Time and Cost Performance How long does it take each organization to get paid?
Cash to Cash Cycle Time
53
# Time and Cost Performance How much value is put into the production?
Total Delivered Cost
54
Risk Mitigation Strategy
Step 1: Proactive Plan Step 2: Minimize Damage During Disruption Step 3: Post-Disruption Recovery
55
Insourcing vs Outsourcing
Insourcing: A particular supply chain activity is carried out in house using a firm's own resources Outsourcing: A particular supply chain activity is carried out by a third party not directly affiliated with a firm
56
Circular Economy
-Systems level solution framework to address pollution and waste -Design products so they are easy t o separate and recycle appropriately

Operations Supply Chain Management (1 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2025 Bold Learning Solutions. Terms and Conditions