Cpim stuvia Study guides, Class notes & Summaries

strategic plan - Answer examines "how to marshal and determine actions to support the mission, goals, and objectives of an organization business plan - Answer a statement of long range strategy and revenue, cost, and profit objectives usually accompanied by budgets, a projected balance sheet, and a cash flow (source and application of funds) statement manufacturing planning hierarchy - Answer SMR, MPR, DSP, ECO competitive advantage - Answer the advantage a company has over its rivals ...

Creating an extensive distribution system in order to reduce shipment time to customers conflicts with which of the following objectives? - Answer Lowest distribution costs Which is set up when a product is available from several sources but only one source gets all of the business? - Answer Single-Source Supplier Which originated with the department or person who will be the ultimate user - Answer Purchase requisition Which of the following provides insight into why the acquisition cos...

Inventory is the ____ of Supply Chain - Answer life blood Inventory Turns equation - Answer Annual COGS/ Avrg inventory $ Matrix structure - Answer you can have more than one boss, one product group, Team members come from different teams are also members of the product management office Centralized corp structure - Answer decisions are made at the top Appropriate response to risk (4 Parts) - Answer 1. Try to avoid risk 2. Risk acceptance 3. Risk transfer 4. Risk mitigation Imp...

A work center is receiving enough work, but it is not performing to plan. To detect problems in this work center, the planner should compare: - Answer actual output to planned output. A company is experiencing a change in demand from steady to sporadic. It currently uses economic order quantity (EOQ) to determine purchase quantities for a key component. Which of the following models should it use in the future? - Answer Period order quantity Which of the following roles of a finished goods...

Which of the following tools is considered an important quality management tool? - Answer Control Chart. The primary use of control charts is to detect assignable causes of variation in a process. In a bill of material, the path that adds up to the greatest number of lead time periods defines the: - Answer Cumulative lead time; cumulative lead time for an items consists of the longest lead time path for a given bill of material. Delivery and demand lead times are subsets of cumulative lead ti...

order Point Deman * (TL)+ SS utilization - Answer actual output/design capacity slack time - Answer =(current date - due date) - amount of time remaining on operation Saftey stock - Answer customer serice level * sqrt(( theta demand * Lead Time) + ((theata Lead Time * average demand)^2)) carrying cost - Answer =carry cost rate (avg inv) Time Availability - Answer = (Equipment) * (hours in time bucket) Contribution Margin Ratio - Answer Contribution Margin / Sales Payback Peri...

How does enterprise resources planning (ERP) differ from manufacturing resource planning? - Answer ERP does not dwell on manufacturing alone. After an order is released, it turns out that not all of the resources needed are available. What will happen next? - Answer There will be idle capacity at some work centers unless rescheduled. Which of the following are manufacturing order pick lists most likely to exclude? - Answer Floor stock materials issued to the department A shop order pack...

Planned Backlog - Answer Previous Planned Backlog + Planned Input - Planned Output Actual Backlog - Answer Previous Actual Backlog + Actual Input - Actual Output Throughput Formula - Answer Revenues Received - Variable Costs/ Units of Time Period New Safety Stock - Answer Old Safety Stock x √New Lead Time/Old Lead Time Demand During Lead Time - Answer Units per Period x Lead Time Takt Time - Answer Available Production Time/Rate of Customer Demand Cycle Time Formula - Answer ...

Capacity utilization - Answer =Actual output/total output capacity order Point - Answer Deman * (TL)+ SS planned order release - Answer planned receipt/(1- scrap factor) payback period - Answer cost of investment/ annual cash savings Return on Investment (ROI) - Answer profits/(cost of investment) Quick Ratio - Answer current assets-inventory/ liabilities available time - Answer =equipment * (time in time bucket) critical ratio - Answer time remaining untill due date /work r...

Break-Even in Units - Answer (Fixed Cost)/(Price per Unit - Variable Cost per Unit) Deseasonalized Demand - Answer (Period Average Demand)/(Seasonal Index) Period Seasonal Index - Answer (Period Average)/(Combined Period Average) (Ex: Quarter Avg / Year Avg) Moving Average Forecast - Answer (Sum of Demand for Most Recent Set of Periods)/(Number of Periods) Exponential Smoothing Forecast - Answer (α*Last Demand)+((1-α)*Last Forecast) Mean Absolute Deviation (MAD) - Answer (Σ |Ac...