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Operations management > Lecture recording 1 > Flashcards

Lecture recording 1 Flashcards

1
Q

What is operations management?

A

operations are a set of activities creating value in the form of goods and services by transforming inputs into outputs. OM concerns itself with maximizing the value created.

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2
Q

Name the three essential functions in OM?

A
  1. Marketing
  2. Production/operations
  3. Finance/accounting
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3
Q

What is productivity?

A

Productivity measures process improvements. It represents output relative to input.

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4
Q

What is single factor productivity?

A

This is units produced/ inputs used

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5
Q

What is the learning rate?

A

The learning rate (L) means that each time the number of units produced doubles, the time needed for producting a unit will be the original production time *L

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5
Q

What is the learning curve effect?

A

The time needed to produce a unit decrease with each additional unit. This decrease in time follows an exponential curve

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5
Q

What are the two important factors in capacity planning?

A
  1. Facility size
  2. Equipment procurement
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5
Q

What is a channel?

A

This refers to the number of servers

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5
Q

What is modularisation?

A

Cutting up your entire production process into multiple subprocesses.

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6
Q
A
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7
Q

What is queueing theory about?

A

This is a theory about finding a balance between service costs and waiting costs

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7
Q

What is an arrival?

A

1 person/ machine etc that arrives and demands service

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8
Q

What is a queue?

A

waiting line

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9
Q

What is queue discipline?

A

These are the rules for determining the order that arrivels receive service

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10
Q

What is a phase?

A
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11
Q
A

This refers to the number of steps in a service

12
Q

What does the labda stand for?

A

Labda stands for the mean number of arrivals

13
Q

Name the three types of queuing models?

A
  1. Simple (M/M/1)
  2. Multi-channel (M/M/S)
  3. Constant service (M/D/1)
13
Q

What does mule stand for?

A

Mule stands for the mean service rate

13
Q

What does (M/D/1) stand for?

A
  1. Poisson distributed arrivals
  2. Deterministic
  3. 1 server
14
Q

What does (M/M/S) stand for?

A
  1. Poisson distributed arrivals
  2. Negative exponential distribution
  3. Number of servers
14
Q

What does (M/M/1) stand for?

A
  1. Poisson distributed arrivals,
  2. negative exponential distribution,
  3. 1 server
14
Q

How do you calculate utilization rate when there is one server?

A

labda / mule

14
Q

How do you calculate utilization rate when there are multiple servers?

A

labda / S*mule

Operations management (5 decks)

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