Business Analysis Techniques and Value Stream Mapping

Question 1

Pareto Analysis definition

Answer 1

Statistical technique in decision making that is used for the selection of a limited number of tasks that produce significant overall effect, using the 80/20 rule that states a large majority of problems (80%) are caused by a few key causes (20%)

Question 2

How to conduct a Pareto analysis

Answer 2

Sum all frequencies to get total frequency
Create relative frequency column by populating each cell with the (respective frequency)/ (total frequency)
Create cumulative frequency column
Plot Relative freq and cumulative freq on Pareto chart

Question 3

5Ms and 1E of Cause and Effect (Ishikawa) diagram

Answer 3

Men
Materials
Machines
Methods
Maintenance
Environment

Question 4

Why is Value Stream Mapping (VSM) an essential tool (5)

Answer 4

• Helps visualise more than just single process level
• Helps you see more than waste
• Provides a common language
• Forms the basis of an implementation plan
• Detailed tool to describe facility/workshop operation to create flow

Question 5

Describe the basic steps to completing a Johnsons Algorithm

Answer 5

Develop the job sequence:
Sequentially choose the job that takes the least time (if you take from the left column fill the sequence from the left, if you take from the right column fill from the right) - if both columns have the same time pick the left. For 3 processes an additional table of A+B and B+C must be used to calculate the sequence.

Use the job sequence to populate the schedule:
Fill in job A using the job sequence and specific times for each job. Then fill in B leaving gaps where jobs have to wait, ensuring the second process doesn’t start until the previous job of the same number has been completed

Calculate total time, work idle and machine idle (blank spaces)

Question 6

Cycle Time, C = ?

Answer 6

T/N or [Production period (mins/wk)]/[Number of units/wk]

Question 7

Minimum number of workstations = ?

Answer 7

Build Time/ Cycle Time

Question 8

Three main types of scheduling techniques

Answer 8

Priority rules
Algorithms
Network Diagrams

Question 9

Techniques within priority rules

Answer 9

First in First out
Earliest due date
Shortest processing time
Critical ratio
Slack time per remaining operations