22S: Theory of constraints

Question 1

a method of production flow management

Answer 1

optimized production technology (OPT)

Question 2

compared to six sigma and lean manufactuirng, the theory of constraints concentrates its improvement efforts only on

Answer 2

the operation that is constraining a critical process or on the weakest component that is limiting the performance of the system as a whole

Question 3

a production process coordinated to work in harmony to achieve the goals in the firm

Answer 3

synchronous manufacturing

Question 4

Goldratts goal of any firm

Answer 4

the goal of a firm is to make money

Question 5

2 ways to measure performance

Answer 5

1. financial measurements
2. operational measurements

Question 6

3 measures of the firms ability to make money (financial measurement)

Answer 6

1. Net profit
2. Return on investment
3. Cash flow

Question 7

an absolute measurement in dollars

Answer 7

net profit

Question 8

a relative measure based on investment

Answer 8

return on investment

Question 9

a suvival measurement

Answer 9

cash flow

Question 10

3 operational measurements

Answer 10

1. throughput
2. inventory
3. operating expenses

Question 11

the rate at which money is generated by the system thorugh sales (goods sold)

Answer 11

throughput

Question 12

all the money that the systme has invested in purcahsing things it intends to sell

Answer 12

inventory

Question 13

all the money that the system spends to turn inventory into throughput

Answer 13

operating expenses

Question 14

money spend

Answer 14

value added

Question 15

whats the goal of the firm from an operational standpoint

Answer 15

increase throughput while simultaneously reducing inventory and reducing operating expense

Question 16

all the actions that bring a company closer to its goals

Answer 16

productivity

Question 17

which is better balanced capacity or unbalanced capacity

Answer 17

unbalanced capacity

Question 18

the ability to do the next process is dependent on the preciding one

Answer 18

dependent events

Question 19

the normal variation about a mean or average (when one process takes longer that the average, the next process cannot make up the time)

Answer 19

statistical fluctuation

Question 20

the normal variation about a mean or average (when one process takes longer thatn the average, the next process cannot make up the time)

Answer 20

statistical fluctuation

Question 21

any resource whose capacity is less than the demand palced upon it. is a constraint within the system taht limits throughput

Answer 21

bottleneck

Question 22

what to do if there is no bottleneck

Answer 22

system should be changed to create a bottleneck

Question 23

the available time for production. this excludes maintenance and other downtime

Answer 23

capacity

Question 24

any resource whose capacity is greater than the demand placed on it. it therefore should not be working constantly because it can produce more than is needed

Answer 24

nonbottleneck