SCO 3001 Operations Management Midterm #1 – Flashcards
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Four Major Decision Responsibilities of Operations Management
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Process, Quality, Capacity, and Inventory
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Corporate Strategy
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Defines the business that the company is pursuing Ex. Disney is in there business of "making people happy"
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Business Strategy
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Follows corporate strategy and defines how each particular business will compete
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Continuous Process
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Output is highly-standardized with very high volumes of production, made continuously Ex. Sugar, paper, oil, electricity
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Assembly Lines
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Characterized by a linear sequence of operations Ex. Cars, computers, etc.
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Batch Flow
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Characterized by the production of the product in batches or lots. Allows more variety than assembly lines. Often use general-purpose equipment
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Job Shop
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Make products to customer order (special case of batch process) General purpose equipment, highly flexible
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Project
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Unique/creative projects, like building a house or bridge
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Process-Flow Analysis
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Viewing and analyzing the transformation process as a sequence or steps connecting inputs to outputs
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Capacity
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Maximum rate of output from a transformation process or the maximum flow rate that can be sustained over a period of time
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Bottleneck
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The capacity of the most constraining resource
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Little's Law
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I=TxR Applies to any steady-state transformation process including manufacturing, people waiting in lines, etc.
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Delphi
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Method of qualitative forecasting that consists of several rounds of anonymous data collection before reaching a forecast
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