MGMT 361 Operations Management Exam 1 Purdue questions with complete verified solutions already graded A+
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35 Terms
Inventory
Flow Rate * Flow time
Utilization
Actual Output/design capacity
Efficiency
Capacity used/ effective capacity
Capacity
1/processing time
Cycle Time
1/ Flow Rate
Idle Time
Cycle Time-Processing time
Bottleneck
Min {all capacities}
Cycle Time
1/flow rate
operations management
an area of management concerned with the efficient and effective production and delivery of goods and services
efficient
using as little resources as needed
effective
meeting customer requirements
inputs
people. raw material, components
output
goods/services
resources
machines, workers (not incorporated in the output)
flow unit
basic unit that moves through a process
work in process
the number of flow units contained within the process
capacity
maximum number of units that can flow through the stage within a unit of time
activity time
time to process one unit by one resource
bottleneck
stage with smallest capacity of longest processing time
process capacity
how much the process can produce in a given time
process designed cycle time
process between two finished units leaving the process
what are the 5 process types?
project, job shop, batch process, line process, and continuous process
line balancing
reallocate tasks so that the activity time for each resource will be more or less the same
process capacity < demand rate
a process is supply constrained when
process capacity > demand rate
a process is demand constrained when
process capacity and demand rate
the flow rate is the minimum of
flow rate
the rate at which the process is delivering output
actual cycle time
actual time it takes for the process to generate one additional output
flow time
total time to go through the entire process
little's law
WIP = FR*FT
cycle time
time between consecutive units
inventory turns
number of times inventory is sold/used in a year
cost of goods sold
carrying value of goods sold during a particular period, from income statement
quality
the ability of a product or service to consistently meet or exceed customer expectations
process capability
the ability of a production process to meet or exceed preset specification
Note 
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