Föreläsningar del 7 Flashcards
Flashcard 9: Q: What is a reservation in the context of demand management?
A: A reservation is a promise to provide a good or service at a future time and place.
Flashcard 10: Q: What are the key components of a revenue management system (RMS)?
A: RMS involves forecasting demand, allocating perishable assets across market segments, deciding when to overbook and how much, and determining what price to charge different customer classes.
Flashcard 11: Q: How can demand shifting be used in capacity planning?
A: Demand shifting adjusts the price to balance supply and demand by solving for the optimal quantity, conditioned on the available capacity for each period.
Flashcard 12: Q: What does it mean when demand functions are assumed to be independent in capacity planning?
A: It means that each demand function is considered separately, and for each period, the optimal quantity (Q*) is determined based on the available capacity and adjusted pricing.
Flashcard 1: Q: What are the two basic questions in inventory models?
A: 1) How much should be ordered each time? 2) When should the reordering occur?
Flashcard 2: Q: What is the objective of inventory management in terms of costs?
A: The objective is to minimize total variable cost over a specified time period.
Flashcard 3: Q: What does ordering cost include in inventory management?
A: Ordering cost includes salaries and expenses of processing an order, regardless of the order quantity.
Flashcard 4: Q: What is holding cost in inventory models?
A: Holding cost is a percentage of the value of the item assessed for keeping an item in inventory.
Flashcard 5: Q: What is backorder cost?
A: Backorder cost refers to the costs associated with being out of stock when an item is demanded, including lost goodwill.
Flashcard 6: Q: What is the Economic Order Quantity (EOQ) model?
A: EOQ is a basic inventory model where the goal is to determine the optimal order quantity to minimize total costs, including ordering and holding costs.
Flashcard 7: Q: What are the assumptions of the Economic Order Quantity (EOQ) model?
A: Assumptions include constant demand, constant ordering cost, constant holding cost, and no planned shortages.
Flashcard 8: Q: What is the Economic Production Lot Size model?
A: A variation of the EOQ model where inventory is replenished gradually as an order is produced, requiring a production rate greater than the demand rate.
Flashcard 9: Q: What is the key difference in the EOQ with planned shortages model?
A: In this model, shortages are allowed until a predetermined backorder quantity is reached, after which replenishment occurs.
Flashcard 10: Q: What is the EOQ with quantity discounts model?
A: This model accounts for lower purchase costs when larger quantities are ordered, balancing the total costs of holding, ordering, and purchasing items.
Flashcard 11: Q: What is PERT (Program Evaluation and Review Technique)?
A: PERT is a project management technique developed by the US Navy to handle uncertain activity times in project scheduling.
Flashcard 12: Q: What is CPM (Critical Path Method)?
A: CPM is a project management technique used for scheduling industrial projects where activity times are generally known, and it focuses on identifying the critical path.
Flashcard 13: Q: What is the purpose of a project network?
A: A project network models the precedence of activities, where nodes represent activities and arcs reflect the precedence relationships.
Flashcard 14: Q: What defines the critical path in a project network?
A: The critical path is the path consisting of activities with zero slack, determining the project’s minimum completion time.
Flashcard 15: Q: What is the three-time estimate approach in PERT?
A: In the three-time estimate approach, activity times follow a beta distribution, with the critical path determined based on the mean times for activities.
Flashcard 16: Q: What is crashing activity times in the context of CPM?
A: Crashing activity times refers to reducing the time to complete an activity at an increased cost to shorten the overall project duration.
