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Operations Management > Exam 3 > Flashcards

Exam 3 Flashcards

1
Q

the management of the interconnection of organizations that relate to each other through upstream and downstream linkages between the processes that produce value to the ultimate consumer in the form of products and services

A

supply chain management

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2
Q

how do information and products flow in a supply chain?

A

information flows upstream (LT plans and requirements, market research info., payment, etc)
Products flow downstream (products, services, new P/S, delivery information, etc.

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3
Q

physical shipment of products/services (NOT the same as Supply Chain Management)

A

logistics

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4
Q

What are the factors for rating alternative suppliers in the short term

A 
range of products/services provided
quality of P/S 
responsiveness 
dependability of supply 
total cost of being supplied 
ability to supply in the required quantity
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5
Q

What are the factors for rating alternative suppliers in the long term

A 
potential for innovation 
ease of doing business
willingness to share risk 
LT commitment to supply 
technical/operations/financial/managerial capability
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6
Q

the use of the internet to organize purchasing

A

e-procurement

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7
Q

what are the advantages to e-procurement

A

promotes efficiency improvements in purchasing processes
improves commercial relationships with suppliers
reduces transaction costs for suppliers
opens up the marketplace for increase competition so prices are competitive
improves ability to manage supply chain more efficiently

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8
Q

sourcing across national borders

A

global sourcing

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9
Q

what should you consider when using global sourcing

A

purchase price, transportation costs, inventory carrying costs, taxes, supply performance, risk/fines (Total cost of ownership)

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10
Q

type of supply relationship with many suppliers, outsource everything

A

virtual spot trading

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11
Q

type of supply relationship with a contract where you can take them to court and has an adversarial relationship

A

Trading market supply

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12
Q

type of supply relationship based on trust and has no contracts, alliances

A

Partnership supply relationships

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13
Q

type of supply relationship where you make everything themselves (oil companies)

A

vertical integration

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14
Q

if you have the need for a lean supply chain management what should be your supply chain objectives

A

low cost
high utilization
minimum inventory
low cost to suppliers

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15
Q

if you have the need for a lean supply chain management what should be your nature of demand

A 
predictable 
few changes 
low variety 
stable prices
long lead  times 
low margins
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16
Q

if you have the need for a agile supply chain what should be your supply chain objectives

A

low throughput times
low utilization
deployed inventory
flexible suppliers

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17
Q

if you have the need for an agile supply chain what should your nature of demand look like

A 
unpredictable 
many changes 
high variety 
price markdowns 
short lead times 
high margins
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18
Q

when no communication occurs in a supply chain so that there are huge changes between inventory and demand

A

the bullwhip effect

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19
Q

What are some strategies to mitigate the bullwhip effect

A

implementing visibility
reducing load times
computing inventories properly
targets for each position

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20
Q

brings together different functions and makes sure they’re working together for a common goal

A

ERP

21
Q

use of computers to drive basic planning and control mathematics

  1. insures materials are available for production
  2. maintains lowest possible material and product levels
  3. plans manufacturing activities, delivery schedules, and purchasing activities
A

MRP

22
Q

a list of the component parts required to make up the total package

A

BOM

23
Q

the important schedule that forms the main input to material requirements planning, it contains a statement of the volume and timing of the end products to be made
- takes information and forecasts demand, and says when to release materials and controls flow

A

MPS

24
Q

What is the process of MRP1

A
  1. explode the master productions schedule
  2. Identify what parts and assemblies are required
  3. Check whether the required parts and assemblies are available
  4. for every part/assembly required but not available by its due date
  5. generate that appropriate internal works and external purchase orders
  6. repeat the process for the next level of the BOM
25
Q

the integration of all significant resource planning systems in an organization that integrates planning and control with the other function of business

A

ERP

26
Q

What are he benefits of an ERP system

A

complete integration
makes changes easier to integrate
management by exception: purchase orders are automatic, unless problem
when product is scanned it goes up the entire supply chain

27
Q

moving towards the elimination of all waste inorder to develop an operation that is faster, more dependable, produces higher quality products/services, and operates at low cost

A

Lean operations

28
Q

What is the philosophy of Lean synchronization

A

eliminate waste, involve everyone, continuous improvement

29
Q

wasteful because they do not add value to the operation or customer

A

Muda

30
Q

What does Muda do?

A

consume time, resources, space and do not contribute to satisfying customer needs over production waiting time transport process inventory motion defectiveness

31
Q

lack of consistency, results in periodic overloading of staff or equipment

A

Mura

32
Q

unecessary or unreasonable requirements put on a process will have poor outcomes

A

Muri

33
Q

What are the 5 s’s in lean operations

A

sort, straighten, shine, standardize, sustain

34
Q

eliminate what is not needed and keep what is needed, eliminate unnecessary items = things that are not needed for current work

A

Sort

35
Q

position things in such a way that they an be found quickly

A

Straighten

36
Q

keep thins clean and tidy, no refuse or dirt in the work area

A

shine

37
Q

maintain cleanliness and order perpetual neatness

A

standardize

38
Q

develop a commitment and pride in keeping to standards

A

sustain

39
Q

focuses on the value adding activities and distinguishes between value adding and non-value adding activities

A

value stream mapping

40
Q

What are the components of value stream mapping

A

wast is a large part of most processes
delivering smaller quantities more often can reduce inventory levels
large machines can have long/complex setup times make big batches which creates waste
several small machines allows simultaneous processing and more robust and flexible production

41
Q

example of typical batch processing

A

traffic lights

42
Q

single piece flow

A

roundabout

43
Q

a field that uses computers, stats, and math to solve business problems

A

Management Science

44
Q

a set of math relationships and logical assumptions implemented in a computer as an abstract representation of a real world object of phenomenon

A

Computer modeling

45
Q

what is the most convenient way for business people to build computer models

A

spreadsheets

46
Q

what are the benefits to computer modeling

A

Economy, timeliness, and feasibility

47
Q

arise when trivial factors influence initial thinking about a problem

A

anchoring effects

48
Q

refers to ho decision makers view a problem from a win loss perspective

A

framing effects

Operations Management (2 decks)

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