Week 2

Question 1

Success Depends upon

Answer 1

Strategy, process to deliver and analytics to support the descisons needed to manage the firm

Question 2

Operations?

Answer 2

Processes used to transform resources into products

Question 3

Supply chain

Answer 3

Processes that move information and material to and from the firm

Question 4

Triple bottom line?

Answer 4

Economic, Environmental, Social

Question 5

OSC Strategy Competitive dimension

Answer 5

Price, quality, delivery speed, delivery reliability, coping with changes in demand, Flexibility and new product-introduction speed

Question 6

Process Activities?

Answer 6

Planning, sourcing, making, delivering, returning

Question 7

Efficency?

Answer 7

Doing the things right

Question 8

Effectiveness

Answer 8

Doings the right things
Create most value for customer

Question 9

Value

Answer 9

Attractiveness of a product = cost

Question 10

Supply Chain Risk Examples

Answer 10

Covid,, Japanese tsunami, 2010 Toyota recalla

Question 11

How to do Risk mitigation Framework

Answer 11

Identify the sources of potential disruptions.
- focus on highly unlikely events that would cause a significant disruption to normal operations

Assess impact, plan to mitigate.

Question 12

Productivity measurement

Answer 12

How well are resources used. Outputs/inputs

Partial productivity
Multifactor productivity
Total productivity

Question 13

Six phases of developnent process

Answer 13

Planning
Concept development
System level design
Design detail
Testing and refinement
Production ramp up ->product is launched

Question 14

Capacity

Answer 14

The ability hold, receive, store or accommodate

Need to consider outputs and inputs!

Question 15

Capacity utilization rate

Answer 15

Capacity used/best operating level

Question 16

What is economies of scale?

Answer 16

Idea that as a plant gets larger, and volume increases- average cost per unit tends to drop

Question 17

Diseconomies of scale

Answer 17

At some point the plant becomes too large and average cost per unit begins to increase

Question 18

What do we mean by capacity flexibility? And what are the three types of flexibility?

Answer 18

Flexible plants - Quickly adapt to change, zero-changeover time

Flexible Processes - Manufacturing - simple, easily setup

Flexible workers - switch from one kind of task to another quickly

Question 19

CAPACITY Cushion

Answer 19

forecasting to demand sales - calculate labor and equipment to meet forecast

Project labor and equipment

Question 20

Differences between service and manufacturing capacity?

Answer 20

goods can be stored for later, services cannot

Location - goods can be shipped

Volatility low in manufacturing, volatility higher in services