Mgt 3900 - Study guides, Class notes & Summaries

MGT 3900 Final 2023 - Questions and Answers According to our book, Lead time demand (LTD) is best defined as: a. the total flow-unit requirement during the replenishment lead time b. the uncertainty in the flow-rate due to problems in forecasting and supply variance c. the total annual flow-unit requirement d. answering the fundamental question of when to reorder inventory. According to our book, cycle service level is best defined as: a. the fraction of total demand satisfied from inventory on...

MGT 3900 - Operation Management Test 1 A firm invents an app that allows customers to make purchases with their smartphone. It is hoping that the new mobile payment app allows the firm to ______________ the efficient frontier through ____________. a. shift, innovation on, innovation on, imitations , imitations Operations management is about: a. working harder. b. doing away with work. c. improving the way that we and/or others do their work. d. dealing with customer feedback. To which system ...

MGT 3900 Final Exam - (With verified answers, guaranteed A grade) _________ __________: Costs related to a mismatch between demand and supply. These usually include the cost of leftover inventory and the opportunity cost of stockouts. Mismatch Costs Two types of mismatch costs: 1) Cost of _________ (too much supply) 2) The _______ cost of stockouts (too little supply) inventory, opportunity The gap between the maximum profit and the expected profit is due to the consequences of demand ________....

Product Mix - ANSWER A combination of different flow unit types moving through a process. Total Demand Rate - ANSWER tells us how many flow units need to be processed at resource i across all different flow units. Resource Capacity - ANSWER the process of defining the amount of work that is able to be done by resources at a company. Flow Unit Dependent Processing Times - ANSWER The fact that the processing times can vary across flow unit types. The total demand rate for a resource is...

Process correct answers any transformation that converts inputs to outputs 5 elements of a process correct answers 1. Inputs and Outputs 2. Flow Units 3. Network of Activities and Buffers 4. Resources 5. Information Structure Inputs correct answers any tangible or intangible items that flow into the process from the environment Outputs correct answers any tangible or intangible items that flow from the process back into the environment Flow Units correct answers the item being an...

MGT 3900 Midterm Exam - (Answered) Littles Law Inventory (I) = Flow Rate (R) * Flow Time (T) Littles law is based on ____________ Averages.... What does it mean if a process is stable? what comes in = what goes out 1st step in analyzing a process draw a process flow diagram For a one step process, Capacity = 1 / processing time For a one step process, if processing time is 30 seconds, what is capacity of the process? capacity = 1/ processing time.... 1/30 seconds or 60/30 seconds = 2 units per ...

MGT 3900 Exam 2 QUESTIONS AND ANSWERS/ STUDY NOTES Questions: 1. There can be no more than two firms on the efficient frontier. False 2. If the takt time is shorter than the cycle time, the process needs to run faster. True 3. When an operation improves its efficiency, its revenue will always stay constant while its costs will go down. False. 4. You and three of your friends run a car wash for a fundraiser. Between interior and exterior cleaning, you spend about 40 minutes per vehicle. You...

MGT 3900 Exam 2 QUESTIONS AND ANSWERS/ STUDY NOTES MGT 3900 Exam 2 QUESTIONS AND ANSWERS/ STUDY NOTES Questions: 1. There can be no more than two firms on the efficient frontier. False 2. If the takt time is shorter than the cycle time, the process needs to run faster. True 3. When an operation improves its efficiency, its revenue will always stay constant while its costs will go down. False. 4. You and three of your friends run a car wash for a fundraiser. Between interior and exter...

MGT 3900 Chapter 05 Test Bank KEY