Quiz over 6, 7, 8, 13, 10

Question 1

Productivity?

Answer 1

The ratio of the output process to the input

Question 2

Taguchi Loss Function?

Answer 2

Maintained that the traditional practice of setting design specifications is inherently flawed. Measured quality as the variation from the target value of a design specification and then translated that variation into an economic “loss function” that expresses the cost of variation in monetary terms.

Question 3

Break even?

Answer 3

The point which total costs = Total Revenue

Question 4

Integration?

Answer 4

ij

Question 5

Disaggregation?

Answer 5

the process of translating aggregate plans into short-term operational plans that provide the basis for weekly and daily schedules and detailed resource requirements.

Question 6

Execution?

Answer 6

refers to moving work from one workstation to another, assigning people to tasks, setting priorities for jobs, scheduling equipment, and controlling processes.

Question 7

A level production strategy?

Answer 7

plans for the same production rate in each time period.

Question 8

A chase demand strategy?

Answer 8

sets the production rate equal to the demand in each time period.

Question 9

A master production schedule (MPS) is?

Answer 9

A master production schedule (MPS) is a statement of how many finished items are to be produced and when they are to be produced.

Question 10

Materials Requirements Planning (MRP) is?

Answer 10

a forward-looking, demand-based approach for planning the production of manufactured goods and ordering materials and components to minimize unnecessary inventories and reduce costs

Question 11

Lot sizing?

Answer 11

is the process of determining the appropriate amount and timing of ordering to reduce costs.

Question 12

Capacity Requirements Planning (CRP) ?

Answer 12

is the process of determining the amount of labor and machine resources required to accomplish the tasks of production on a more detailed level, taking into account all component parts and end items in the materials plan.

Question 13

Capacity?

Answer 13

is the capability of a manufacturing or service resource such as a facility, process, workstation, or piece of equipment to accomplish its purpose over a specified time period.

Question 14

Diseconomies of scale?

Answer 14

occur when the average unit cost of the good or service begins to increase as the capacity and/or volume of throughput increases

Question 15

A focused factory?

Answer 15

is a way to achieve economies of scale without extensive investments in facilities and capacity by focusing on a narrow range of goods or services, target market segments, and/or dedicated processes to maximize efficiency and effectiveness.

Question 16

Safety capacity?

Answer 16

(often called the capacity cushion) is an amount of capacity reserved for unanticipated events, such as demand surges, materials shortages, and equipment breakdowns

Question 17

A revenue management system (RMS)?

Answer 17

consists of dynamic methods to forecast demand, allocate perishable assets across market segments, decide when to overbook and by how much, and determine what price to charge different customer (price) classes.
Examples: Managing overbooking in airlines, hotels, and cruise lines (yield management).

Question 18

Aggregate planning ?

Answer 18

is the development of a long-term output and resource plan in aggregate units of measure.

Question 19

Cycle Time?

Answer 19

The interval between successive outputs coming off the assembly line.