1.Value Stream correct answers all activities (value added, business value added, and non-value added) required to meet a customer or stakeholder request.
2.Types of Value Stream correct answers Products
Services
Ideas
Sales
Resources
Projects
3.Types of Value Stream correct answers Prod...
MBA 745 Final || with Error-free Solutions.
1.Value Stream correct answers all activities (value added, business value added, and non-value
added) required to meet a customer or stakeholder request.
2.Types of Value Stream correct answers Products
Services
Ideas
Sales
Resources
Projects
3.Types of Value Stream correct answers Products: A product used from materials to the point of
use by the customer
4.Types of Value Stream correct answers Services: A service from suppliers to solving the need
of a customer (ex barber, police, etc)
start when notified service is required, end when service is provided
5.Types of Value Stream: Ideas correct answers from concept to implementation (new products
and services)
concept through product launch
6.Types of Value Stream: Sales correct answers new business from marketing to closing the deal
Prospect to Order
7.Types of Value Stream: Resources correct answers from justification to retirement at end of
use (recruiting of new employees through retirement)
Equipment and people
8.Types of Value Stream: Projects correct answers Projects from concept o implementation and
support (ex lean transformation project - from concept through implementation)
Concept to Improvement
9.Value Stream Manager correct answers designated as the owner of a value stream which
crosses functional boundaries. They are champions for future state design and implementation,
creating flow and leverage pull across all functions
10.Value Stream Map correct answers A visual representation of activities and flows of
information, materials, and services required to accomplish specific objectives.
16.Value Add Guestimate correct answers total time something is happening divided by the total
time.
17.Check Sheet correct answers a tool for recording and organizing data to identify a problem
18.Run Charts correct answers type of chart used to show variations in the process over time or
to show trends (such as improvements or the lack of improvements) in the process.
19.4 rules of run chart correct answers STAR
- Shift
- Trend
- Astronomical
- Runs
20.Run Chart correct answers Shift: when too much data is grouped above or below the lines
(rule of 6)
, 21.Run Chart correct answers Trend: When a consecutive group is going up or going down (5
points)
22.Run Chart correct answers Astronomical: When there is an outlier
3.Run Chart correct answers Runs: (too few or too many) - number of times the median line is
crossed
24.Value Stream Map correct answers : a visual representation of activities and flows of
information, materials, and services required to accomplish specific objectives.
25.Value Stream Mapping correct answers : a team based systematic approach to create value
stream maps which identify waste in the current state or paint the vision of a future state with
less waste.
26.Made to Stock correct answers Environment where products can be and usually are finished
before receipt of a customer order (ex - grocery store)
27.Assemble/Finish to Order correct answers - An environment a product or service is assembled
after receipt of a customer's order
- Products are typically a mix of standard items and prefabricated modules
28.Make to Order correct answers a) An environment where a good or service is made after
receipt of a customer's order
b) Relatively long lead time to ship after the order is received --> carry less stock
29.Design/Engineer to Order correct answers a) An environment where customer specifications
require engineering design, specific customization or unique materials
30.Push correct answers a process that relies upon a forecast to create inventory in anticipation of
customer orders
o You push inventory into your supply chain
o When actual orders don't match forecast, there will be excess inventory or stock
o AKA Speculative
o Ex - Buffet
31.Pull correct answers A process that uses actual customer demand to drive production
o The order pulls inventory through your supply chain
o AKA - reactive
o Ex steak - that is ordered as rare, med rare etc...
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