Pma 3 - Study guides, Class notes & Summaries

Definition of Operations & Supply Chain Management - correct answer The design, operation, and improvement of the systems that deliver goods & services Operations - correct answer Manufacturing and service processes that transform inputs into outputs Supply Chain Management - correct answer Processes that move information and material to and from the operations processes where the transformation from inputs to outputs occurs The changing world of operations (4) - correct answer ...

SPMA 3P95 Final questions with verified answers

Cycle Time : The time between two consecutive customer orders being completed Bottleneck : The slowest workstation in the process Bottleneck's Processing Time = ? : Cycle time for entire process When should a discount be offered? (Campus Club Cupcakes) 2 | P a g e : When it helps our bottleneck increase output Legal Risks (Campus Club Cupcakes) : Food safety, employee safety, taxes Financial Risks (Campus Club Cupcakes) : Lose money, customers not picking up or paying Organizationa...

Mission - The reason for the firm's existence What value will be created for the customer Key Market - Who is your target client or customer? Contribution - What product or service do you provide to that client? Distinction - What makes your product or service unique, so that the client would choose you? Strategy - The plan designed to achieve a mission of the organization Shareholders - Individuals or companies that legally own one or more shares of stock in the company

SPMA 3P96 Final Exam questions with 100% correct answers

Process flow chart : a diagram outlining the process from start to finish to compete a target goals, shows precedents, tasks, and time Processing time : time to produce an order Throughput time : the total timer required to complete a process How does knowing capacity help (3) 2 | P a g e : customer order promising (don't over promise), pricing/profit per unit (need to satisfy a return), inventory supplies (track required raw materials for operation) Bottleneck processing time : i...

Supply-chain debrief: What caused people to act the way they did? and what did this lead to? (2) : Lack of communication / cooperation , leading to the guessing of customer demand which led to arbitrary ordering decisions and the result is the bullwhip effect long lead time, could've been even longer if the supplier had no inventory what is the "bullwhip" effect? : information (orders) going back through the supply chain is distorted and then amplified Supply-chain debrief: 2 | P a...

Cycle Time - ️️The time between two consecutive customer orders being completed Bottleneck - ️️The slowest workstation in the process Bottleneck's Processing Time = ? - ️️Cycle time for entire process When should a discount be offered? (Campus Club Cupcakes) - ️️When it helps our bottleneck increase output Legal Risks (Campus Club Cupcakes) - ️️Food safety, employee safety, taxes Financial Risks (Campus Club Cupcakes) - ️️Lose money, customers not picking ...

During the SCM Exercise Graph Commonalities : Fluctuations, amplification, and a time lag between the retailer to the factory Beer Game Average : Everyone averaged around the same even though some came from different backgrounds yet the players control the game, you can't blame customer demand What caused people to act the way they did during the beer game? : 1) Lack of communication/cooperation - guessing of the customer demand-->arbitrary ordering RESULT: BULLWHIP EFFECT 2 | P a ...

bullwhip effect : a distribution channel phenomenon in which forecasts yield supply chain inefficiencies. It refers to increasing swings in inventory in response to shifts in customer demand as you move further up the supply chain vendor managed inventory : A means of optimizing Supply Chain performance in which the manufacturer is responsible for maintaining the distributor's inventory levels. The manufacturer has access to the distributor's inventory data and is responsible for ge...