BUSOBA 3230 Final Exam | Questions with Verified Answers
0 view 0 purchase
Course
BUSOBA 3230
Institution
BUSOBA 3230
BUSOBA 3230 Final Exam | Questions with Verified Answers Any set of activities performed by an organization that takes inputs and transforms them into outputs ideally of greater value to the organization than the original inputs. Process The average time between completions of successive units in...
Any set of activities performed by an organization that takes inputs and transforms them
into outputs ideally of greater value to the organization than the original inputs.
Process
The average time between completions of successive units in a process
Cycle Time
The ratio of the time that a resource is actually activated relative to the time that it is
available for use.
Utilization
A ______________ process is activated only in response to an actual order. Inventory
(both WIP and FG) is kept to a minimum.
make-to-order
In a _________________ process, the customer is served "on-demand" from finished
goods inventory
make-to-stock
Often times when demand is seasonal, a _________________ process is used.
make-to-stock
A hybrid process combines features of
make-to-order and make-to-stock
Movement of items through a process is coordinated through a timing mechanism.
Pacing
A measure of how well resources are used. According to Goldratt's definition (see
Chapter 23), all the actions that bring a company closer to its goals.
Productivity
A ratio of the actual output of a process relative to some standard
Efficiency
Being _______________-means doing something at the lowest possible cost.
Efficient
Which performance measurement term can also be used to measure the loss or gain in
a process?
Efficiency
, The time required to produce a batch of parts.
run time
The time required to prepare a machine to make a particular item.
setup time
The sum of the setup time and run time for a batch of parts that are run on a machine.
operation time
The average time it takes a unit to move through an entire process.
flow time
The output rate that the process is expected to produce over a period of time.
throuput rate
The ratio of the value-added time to the flow time
Process Velocity (Throughput Ratio)
The time in which useful work is actually being done on the unit.
value-added time
The total average investment in raw material, work-in-process, and finished goods
inventory.
Total average value of inventory
A measure of the expected number of times inventory is replaced over a year.
Inventory turn
The number of days of inventory of an item.
Days-of-supply
Managing the entire organization so it excels in all dimensions of products and services
important to the customer.
Total quality management (TQM)
An award established by the U.S. Department of Commerce in 1987 is given annually to
companies that excel in quality.
Malcolm Baldrige National Quality Award
The inherent value of the product in the marketplace.
design quality
List the 6 dimensions of design quality
1. performance
2. features
3. reliability/durability
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Bri254. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $18.99. You're not tied to anything after your purchase.
