Mgsc 395 exam 3 - Study guides, Class notes & Summaries

Bottlenecks exist in which type of manufacturing processes? - CORRECT ANSWER-Job process, batch process, line process The theory of constraints methods increases the firms profits more effectively by focusing on what - CORRECT ANSWER-making materials flow rapidly through the entire system The theory of constraints defines inventory as - CORRECT ANSWER-all the money invested in a system in purchasing things that it intends to sell Of the seven key principles of the theory of constraints, w...

MGSC 395 EXAM 3 QUESTIONS AND ANSWERS

MGSC 395 EXAM 3 QUESTIONS AND ANSWERS.

time series - CORRECT ANSWER-the repeated observations of demand for a service or product in their order of occurrence Horizontal Time Series - CORRECT ANSWER-the fluctuation of data around a constant mean Trend Time Series - CORRECT ANSWER-a systematic increase or decrease in the average of the series over time Seasonal Time Series - CORRECT ANSWER-a repeatable pattern of increases or decreases in demand, depending on the time of day, week, month, or season Cyclical Time Series - CORREC...

MGSC 395 EXAM 3 QUESTIONS AND ANSWERS UPDATED

MGSC 395 EXAM 3 QUESTIONS AND ANSWERS

MGSC 395 EXAM 3 QUESTIONS AND ANSWERS UPDATED

MGSC 395 EXAM 3 QUESTIONS AND ANSWERS

For what organizational decisions are demand forecasts used? - CORRECT ANSWER--long term(general forecast) -intermediate term(product family/service lines) -short term(detailed) What are the costs/risks of forecasts that are too high or too low? - CORRECT ANSWER-Too high: -surplus of inventory -price markdown(blackfri.) -too many employees Too low: Not enough.. -product for demand -people working(bad customer service) What are characteristics of all forecasts? - CORRECT ANSWER--ALL w...

MGSC 395 Exam 3, Questions and Answers