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Ops Mgmt > Final Exam > Flashcards

Final Exam Flashcards

1
Q

Higher inventory holding costs

A

retailer will place smaller orders more frequently

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2
Q

Higher ordering costs

A

retailer will place larger orders more frequently

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3
Q

determining the order quantity and frequency of orders

A

is not straight forward even in simple scenarios

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4
Q

supply chain

A

common stages include: suppliers, manufacturers, distributors, warehouses, retailers

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5
Q

the demand facing a supply change stage

A

accumulation of orders from customers

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6
Q

Bullwhip effect

A

an unanticipated change in retail demand that results in increased fluctuations in demand and demand moves from retailer to supplier

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7
Q

fluctuations in demand

A

result in an increased cost associated with meeting the demand due to having to build capacity to meet the highest level of demand.

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8
Q

capacity of the system

A

the slowest workstation dictates the flow out of the system

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9
Q

bottleneck

A

anything that limits throughput

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10
Q

bottleneck resource

A

the resource limiting throughput

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11
Q

the capacity of a bottleneck resource

A

less than or equal to the demand placed upon it in the market

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12
Q

the capacity of a non-bottleneck resource

A

greater than the demand placed upon it by the market

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13
Q

a system with excess capacity

A

the market will limit throughput and is the bottleneck

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14
Q

Capacity Utilization Ratio (CUR) of a resource

A

an indication of whether the resource is a bottleneck resource or a non-bottleneck resource

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15
Q

Inventory accumulates in-front-of a resource

A

whenever the flow feeding the resource is greater than the flow out of the resource

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16
Q

the amount of inventory between two measures

A

depends upon the differential in the flow rates between the feeding and receiving resource

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17
Q

in the absence of any inventory control system

A

there will always be inventory in-front-of a bottleneck resource

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18
Q

local optimization everywhere

A

does not guarantee optimal performance of the system

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19
Q

to prevent the accumulation of work-in-process inventory in a system

A

the flow into the system must equal the flow out of the system

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20
Q

in a low inventory environment

A

non-bottleneck resources will experience idle time

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21
Q

Both a just-in-time (JIT) system and drum-buffer-rope (DBR) system

A

prevent the accumulation of inventory in a system by making sure the flow into the system is equal to the flow out

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22
Q

a JIC system

A

a push system that will result in the build-up of work-in-process inventory unless the slowest resource is at the start of the the process

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23
Q

a JIT system

A

is a pull system where a work station does not pass items to a subsequent work station until the subsequent work station is ready to process the item

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24
Q

Little’s Law

A

manufacturing lead times are proportional to the amount of work-in-process in the system

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25
Q

reducing work-in-process inventory

A

will result in improved quality for 3 reasons: the bottleneck effect is less stressed, non-bottleneck resources have idle time which can be spent on ensuring quality, and systematic errors are identified before substantial amounts of rework accumulate

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26
Q

in low inventory environments

A

there is less need for extensive tracking and scheduling

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27
Q

`controlling inventory

A

is key to a successful operation

28
Q

2 batch sizes where a distinction can be made

A

process batch size and transfer batch size

29
Q

reducing transfer batch sizes

A

results in less work-in-process inventory and faster manufacturing lead times

30
Q

Transfer batch sizes

A

should be set as small as possible

31
Q

a key factor in setting process batch sizes

A

the set-up time required on the bottleneck resource

32
Q

In systems with complex flow structures

A

inventory can be controlled using a drum buffer-rope system

33
Q

as inventory accumulates in a system

A

manufacturing lead times increase and become less predictable

34
Q

observing system data over time

A

provides valuable information concerning the operation and evolution of a process

35
Q

static pictures of data

A

often results in the loss of crucial information

36
Q

priority rules

A

impact system performance in predictable ways

37
Q

in high inventory environments

A

priority rules are less likely to be followed

38
Q

The buffer

A

should be set large enough to ensure that the bottleneck resource always has something to work on

39
Q

controlling inventory data

A

results in faster and more predictable manufacturing lead times

40
Q

controlling the release of items into the system

A

results in accurate available to promise dates, improved quality, and the ability to better prioritize items

41
Q

variability

A

has a profound effect on system performance

42
Q

when variability exists

A

predicting system performance using averages will result in overly optimistic prediction of actual system performance

43
Q

a resource is starved

A

when it is not able to take advantage of available capacity because a preceding resource has not provided anything for it to work on

44
Q

starving of a bottleneck resource

A

can be prevented by: buffering the bottleneck with work-in-process inventory, reducing the variability that is causing the starving, or breaking the dependency of the bottleneck on the resources causing the starving

45
Q

When inventory accumulates in a system as a result of variability

A

the inventory moves through the system in waves

46
Q

Variability alone

A

can cause oscillations in the performance of a part of a process

47
Q

Blocking of a resource

A

results in idle time at that resource

48
Q

the source of the idle time

A

is the subsequent resource’s inability to process items fast enough

49
Q

blocking and starving of a bottleneck resource

A

should be prevented

50
Q

variation in the output produced by a system

A

can be attributed to common causes of variation or assignable causes of variation

51
Q

When common causes of variation have a large impact on the output produced by workers

A

comparing worker performance has a detrimental effect on worker morale

52
Q

comparing the performance of two different systems

A

makes no sense

53
Q

process improvement efforts

A

should begin by removing all assignable causes of variation

54
Q

plotting system measurements over time

A

helps identify the presence of assignable causes

55
Q

once all assignable causes of variation are removed and only common causes are impacting system performance

A

control charts can be set up

56
Q

control charts

A

establish process capacity and can be used to monitor system performance and determine whether a process improvement effort has its desired effect

57
Q

a process improvement effort

A

should be undertaken if the current process is not capable of “consistently” meeting customer expectations

58
Q

product mix problems

A

involve allocating scarce resources among competing alternatives

59
Q

the optimal solution to a product mix problem

A

depends on the stated objective/goal and the constraints

60
Q

constraints

A

can be binding or non-binding

61
Q

if relaxed, non-binding constraints

A

do NOT result in an improvement in the objective function value

62
Q

if a non-binding constraint is associated with a resource

A

the slack value is positive meaning there will be leftover units if the optimal solution is implemented

63
Q

if relaxed, a binding constraint

A

will result in an improvement in the objective function value

64
Q

the shadow price of the constraint

A

the amount of the improvement in a relaxed binding constraint

65
Q

changes int he objective function coefficient

A

may or may not result in a change in the solution to the constrained optimization problem

Ops Mgmt (1 decks)

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