management test 2

short range forecast

1 year, generally less than 3 months

medium range forecast

3 months to 3 years

long range forecast

over 3 years

step 1 of forecasting

determine the use of the forecast

step 2 of forecasting

select the items to be forecasted

step 3 of forecasting

determine the time horizon of the forecast

step 4 of forecasting

select the forecasting model(s)

step 5 of forecasting

gather the data needed to make the forecast

step 6 of forecasting

make the forecast

step 7 of forecasting

validate and implement the result

the quantitative model

the seven steps in forecasting

the qualitative method

jury of executive opinion, delphi method, sales force composite, market survey

jury of executive opinion

pool opinions of high-level experts or managers

delphi method

panel of experts, queried iteratively

sales force composite

estimates from individual salespersons are reviewed for reasonableness the aggregated

market survey

ask the customer about future purchasing plans

timer series forecasting

set of evenly spaced numerical data and forecasted on past data

what is the key to success

great products

product strategy options

differentiation, low cost, rapid response

concept

ideas from many sources

feasibility

does firm have ability to carry out idea

requirments

customer _____ to win orders

functional specification

how the product will work

product specifications and manufacturability

how the product will be made

design review

are these product specifications the best way to meet customer requirments

test market

does product meet customer expectations

introduction to marketing

training promotion and channel decisions

evaluation

was it a success

quality function deployment (QFD)

determine what will satisfy customer and translate those desires into a target design

house of quality

utilizing planning matrix to relate customer wants to how the firm is going to meet those wants

additive manufacturing

nickname for 3D printing

step 1 of house of quality

customer

step 2 of house of quality

enginering parameters

step 3 of house of quality

translation between steps 1 and 2

step 4 of house of quality

define limitations (interrelationships)

step 5 of house of quality

compare competitors

step 6 of house of quality

what is the target

step 7 of house of quality

evaluate

life cycle assessment

a formal evaluation of the environmental impact of a product

group technology

family of products put into one location

product life-cycle management (PLM)

integrated software that brings together most if not all elements of product design and manufacture

eastern (japanese) quality

an operations managers objective is to build a total quality management system that identifies and satisfies customer needs

western (american) quality

the totality of features and characteristics of a product or service that bears on its ability to satisfy stated needs or wants

user based

better performance, more features

manufacturing based

conformance to standards, making it right the first time

product based

precise and measurable attributes of the product

appraisal costs

evaluating products, parts, and services

prevention costs

reducing the potential for defects

internal failure costs

producing defective parts or service before delivery

external failure costs

defects discovered after delivery

total quality management (TQM)

every person in the business is responsible for the quality of

concept 1 of tqm

continuous improvement

concept 2 of tqm

six sigma

concept 3 of tqm

employee empowerment

concept 4 of tqm

just in time

concept 6 of tqm

taguchi concepts

concept 6 of tqm

knowledge of tqm tools

continuous improvement

never ending process of continuous improvement

other name for continuous improvement

Kiazen

six sigma

comprehensive system for achieving and sustaining business success

dmaic approach

define, measure, analyze, improves, controls

six sigma defines

the projects purpose, scope, and outputs, then identifies the required process information keeping in mind the customer’s definition of quality

six sigma measures

the process and collects data

six sigma analyzes

the data, ensuring repeatability and reproducibility

six signma controls

the new process to make sure performance levels are maintained

quality circles

group of employees who meet regularly to solve problems

benchmarking

comparing a factor of your business to the best in the world

just in time

pull system of production scheduling including supply management

tqm tools for generating ideas

check sheet, scatter diagram, cause and effect diagram

other names for tqm cause and effect diagram

fishbone and ishikawa

tqm tools to organize the data

pareto chart and flowchart

tqm tools for identifying problems

histogram and statistical process control chart

poka-yoke

foolproof devices or techniques designed to pass only acceptable products

objective of process strategy

to create a process to produce offerings that meet customer requirements within cost and other managerial constraints

five basic strategies

process focus, repetitive focus, product focus, mass customization, mass personalization

product focus

low variety high volume; paper

process focus

high variety low volume; surgery room or hospital

repetitive focus

a lot of the same thing; automotive manufacturing

mass customization

high variety high volume; school bus

mass personalization

changing something to fit someone’s specific needs; fashion