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Process analytics > process final > Flashcards

process final Flashcards

1
Q

any activity that takes one or more inputs, transforms them, and provides one or more outputs for its customers

A

process

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2
Q
  • produces tangible outputs
  • inputs and outputs can be inventories
  • low customer contact
  • high capital investment
  • quality easily measured
A

characteristics of manufacturing processes

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3
Q
  • intangible and perishable outputs
  • outputs can’t be inventoried
  • high customer contact
A

services

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4
Q

interrelated series of processes within or between firms that produce a service/product to satisfy its customers

A

supply chain

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5
Q

level in the supply chain
- removing tiers can increase efficiencies

A

tiers

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6
Q

moving products down to customers

A

downstream

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7
Q

moving products from customers to suppliers

A

upstream (reverse logistics)

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8
Q

most basic type of supply stream
- brick and mortar or online but not both

A

single channel supply stream

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9
Q

channels are not connected
-ex. can buy online but not return in store

A

multi-channel supply stream

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10
Q

channels are interconnected

A

omni-channel supply stream

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11
Q

computer system designed to help manufacturers manage dependent demand inventory and schedule replenishment orders

A

material requirements planning (MRP)

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12
Q
  • bill of materials
    -master production schedule (# of end items produced)
  • inventory record
A

MRP inputs

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13
Q
  • gross requirements: total amount needed at the beginning of the period
  • scheduled receipts: orders that should arrive in the beginning of the period
  • projected on hand balance: balance at the end of that period
  • planned order release: an indication of when an order is to be issued
A

parts of inventory record

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14
Q

difference between when you order an item and when you receive it

A

lead time

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15
Q

time between the start and completion of the manufacturing process

A

manufacturing lead time

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16
Q

time between order placement and delivery of the final product

A

customer lead time

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17
Q
  • CLT =0
  • no customization
  • customer demand is satisfied by existing inventory
  • lots of finished good inventory
    -ex. grocery stores
A

made to stock

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18
Q
  • CLT >0
  • subassemblies or work in progress inventory is produced prior to the customer’s order and the customer can personalize/customize the order based on a limited amount of options
  • no finished good inventory but lots of work in progress inventory
    -ex. chipotle, birthday cakes
  • MLT > CLT> 0
A

assemble to order

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19
Q
  • CLT > MLT
  • no work in progress, subassemblies, or finished goods inventory
  • every product is attached to a customer order
  • ex. planes and airlines, weddings and bridesmaid dresses
A

made to order

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20
Q
  • CLT&raquo_space; MLT
  • get to pick every aspect
  • no finished goods or subassemblies
    -ex. custom homes, custom suits, etc.
A

design to order

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21
Q
  1. order release prompt
  2. open order diagnostics
  3. expedite order release
A

exception messages

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22
Q

anytime you have a planned order release in the current time period you are in
- expected and planned

A

order release prompt

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23
Q
  • scheduled receipts or pipeline inventory
  • you can move it around (closer, defer, or cancel)
A

open order diagnostics

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24
Q

used when you have a new order but you have a lead time issue with your new order

A

expedite order release

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25
Q
  • raw materials
  • finished goods
  • work in progress
  • safety stock inventory
    -anticipation inventory
  • pipeline inventory
A

types of inventory

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26
Q

surplus inventory that protects against uncertainties in demand, lead time, and supply changes

A

safety stock inventory

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27
Q

inventory used to absorb predictable uneven rates of demand/supply

A

anticipation inventory

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28
Q

when an item is issued but not yet received (aka transit stock; schedule receipts)

A

pipeline inventory

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29
Q
  • cost of capital
  • storage and holding costs
  • taxes, insurance, and shrinkage
  • high inventory turnover
A

pressure for small inventories

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30
Q
  • customer service: stock outs or back orders
  • ordering costs
  • setup costs
  • transport costs (less than truck load or full truck load)
A

pressure for large inventories

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31
Q

distribution centers act as a high throughput sorting facility for several suppliers and customers
- inbound flows (from suppliers) are directly transferred into outbound flows (to customers) with little, if any warehousing
- saves transport time, reduces inefficiencies, saves retailers billions in storage costs

A

cross-docking

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32
Q

lot size that minimizes total ordering and holding costs
-assumptions: demand is constant, only relevant costs are inventory holding costs and ordering costs, constant lead time
- use for made to stock and if demand is stable
- do not use for made to order
- modify if there is a discount for large quantity orders

A

EOQ model

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33
Q

average inventory formula

A

Q/2

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34
Q

order what you need per period

A

LFL inventory management

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35
Q

order x amount every time you order

A

EOQ inventory management

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36
Q

order enough to cover x weeks at a time

A

POQ inventory management

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37
Q
  • way to manage on hand inventory
  • divides inventory into different buckets of importance
  • helps firms determine the resources to dedicate to each item
  • having all three item categories increases customer satisfaction
A

ABC process

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38
Q

monitored closely
- small percentage of inventory with large revenue percentage
- ex. milk
-ex. costco carries only these items (one type of peanut butter)

A

A items

39
Q

checked monthly
- medium percentage of inventory with small to medium revenue percentage

A

B items

40
Q

checked quarterly
- large percentage of inventory with very small revenue percentage
-ex. seasonings

A

C items

41
Q

carrying cost formula

A

Q/2*(C)

42
Q

ordering cost formula

A

A/Q *(O)

43
Q

total inventory costs formula

A

Q/2(C) + A/Q(O) + (C*safety stock)

44
Q

unexpected distortion of the supply chain caused by price fluctuations/sales promotions, order batching, shortage gaming, and forecast inaccuracy on projected sales
- customer > retailer > distributor> manufacturer
-ex. if there is an excess demand for paper towels, the retailer places an order to the distributor, who then sends that information to the manufacturer who then has to make the adjustments for processes before getting the new order out; by the time the order is ready, the demand is no longer there and the systems spent more money

A

bullwhip effect

45
Q

bullwhip effect is mitigated by:

A

everyday low prices
- frequent ordering
- forecast on sales history
- sharing information with suppliers

46
Q

minimum level that an inventory position must reach before an order is placed

A

reorder point

47
Q

orders a fixed number every time
- reorder point system or fixed order quantity system
- tracks inventory position each time there is a withdrawal
- assumes constant demand, constant lead times, and supplier shipping Q units each time

A

continuous review system

48
Q

time between orders is fixed
- fixed interval reorder system
- item’s inventory position is reviewed periodically

A

periodic review system

49
Q

inventory position formula

A

on hand inventory + scheduled receipts - backorders

50
Q

maximum rate of outputs of a process
- inputs, outputs, or both
- inventory is viewed as stored capacity

A

capacity

51
Q

process of determining how much capacity is needed and when it is needed

A

capacity planning

52
Q

proportion of the available time that a piece of equipment/system is operating
- most manufacturing firms should maintain capacity cushions which varies by industry
-made to stock > design to order utilization

A

utilization

53
Q

utilization formula

A

(average output rate/maximum capacity) * 100%

54
Q

capacity cushion formula

A

100%- average utilization rate

55
Q

relates to the capacity shortage of a process
- operation with the lowest capacity
- can be internal or external with more than one bottleneck

A

bottleneck

56
Q

the total capacity of that process is the sum of the individual processes

A

parallel processes

57
Q

total elapsed time from start to finish of a job that includes processing time and time between units

A

throughput time

58
Q

when firms delay further investment into a product until the last possible moment
-ex NFL jersey article

A

postponement

59
Q

maximize the value added by each of a company’s activities by removing waste and delays
- can be applied to any process
- value stream map

A

lean system

60
Q

focuses on efficiency, cutting excess capacity/inventory, and removing non-value added activities

A

just in time system

61
Q
  • quality at the source
    -right work slow
  • avoid seven deadly sins
  • uniform workstation loads
  • automation
  • flexible workforce
A

key aspects of lean systems

62
Q

make it right the first time
- poka-yoke

A

quality at the source

63
Q

mistake proofing methods aimed at designing fail-safe systems that minimize human error
- ex. google email reminder when something is not attached but you see attached in the email

A

poka-yoke

64
Q

customer demand activates production of the service/item

A

pull method

65
Q

production of the item begins in advance of customer needs

A

push method

66
Q
  1. over production
  2. defects
  3. inventory
  4. over processing
  5. waiting/delay
  6. transportation
  7. motion
A

seven deadly sins

67
Q

processing too soon/too much

A

over-production (deadly sin)

68
Q

errors, mistakes, or rework

A

defects (deadly sin)

69
Q

holding too much inventory (WIP, raw materials, or finished goods)

A

inventory (deadly sin)

70
Q

processing more than required/steps that don’t add value

A

over-processing (deadly sin)

71
Q

employees, customers, or equipment waiting

A

waiting/delay (deadly sin)

72
Q

movement of product that doesn’t add value

A

transportation (deadly sin)

73
Q

movement of people that doesn’t add value

A

motion (deadly sin)

74
Q

interrelated set of activities with a definite starting/ending point and unique outcome

A

projects

75
Q

phased approach to defining, organizing, planning, monitoring, and controlling projects

A

project management

76
Q
  1. defining the scope of project
  2. time frame
  3. resources needed
A

3 key decisions before starting a project

77
Q
  1. complete on time or earlier
  2. do not exceed the budget
  3. meet specifications to the satisfaction of the customer
A

3 main goals of a project manager

78
Q

nodes represent activities and arcs represent the relationship between activities
- benefits: predicts time needed, determines which activities to focus on, shows critical activities, and allows managers to make necessary changes

A

network diagram

79
Q

used by customers to describe their satisfaction with a good or service

A

quality

80
Q
  1. continuous process improvement
  2. employee empowerment
  3. customer satisfaction
A

total quality management

81
Q
  1. plan
  2. do
  3. study
  4. act
A

continuous process improvement

82
Q

move decision making down the organization chart

A

employee empowerment

83
Q

value, support, and psychological impressions

A

customer satisfaction

84
Q

improves processes by ensuring a process is on target and minimizing variability by identifying and removing causes of defects
-99.997% defect free
-five step process

A

six sigma

85
Q
  1. define
  2. measure
  3. analyze
  4. improve
  5. control
A

five step process for six sigma

86
Q

time ordered diagram used to determine whether observed variations are abnormal
-lies between upper and lower control limits

A

control chart

87
Q

-prevention costs
-appraisal costs
- internal failure costs
- external failure costs

A

costs of quality

88
Q

costs associated with preventing defects before they happen

A

prevention costs

89
Q

costs incurred when a firm assesses the quality of its output
- aka quality inspection costs

A

appraisal costs

90
Q

costs associated with discovering defects during the production process

A

internal failure costs

91
Q

costs associated when a defect is discovered after the customer receives the service/product

A

external failure costs

92
Q

moving inventory downstream to optimize the forward flow of logistics
- from suppliers to manufacturers to consumers

A

forward logistics

93
Q

from customers to manufacturers to suppliers
- ex. product recalls

A

reverse logistics

Process analytics (1 decks)

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