SCM 302 OPERATIONS MANAGEMENT. Course Checkpoint I Study Guide for Exam 1

Transcription

1 SCM 302 OPERATIONS MANAGEMENT Course Checkpoint I Study Guide for Exam 1

2 2 Resources for Exam Preparation MyOMLab Unlimited attempts for practice assignments: Practice quizzes Practice homeworks with additional practice problems Videos with worked problems Chapter summaries & Rapid Reviews at end of Chapter Exam review session see Canvas for details.

3 3 Test Details Both parts together count 16% of your grade Multiple Choice Section 30 minutes in class Arrive early if possible. Will start on time. 20 Conceptual / Multiple Choice type questions like large quiz assignment Computational Section 75 Minutes. Due by 9 AM following day 5-10 computational problems, some with multiple parts like homeworks Test given in MyOMLab. You must have a functional laptop with you in class Know your MyOMLab username and password Make sure prior to the exam that MyOMLab is working with the device you plan to use Making sure your laptop is operable and functional to take the exam is YOUR RESPONSIBILITY. Resources allowed Open book, open notes You MAY use your computer to access your course notes, etext, MS Excel, or MyOMLab. You MAY NOT use the internet for any other purpose other than to access MyOMLab or the course Canvas site, e.g. you may not use web search to look for answers to questions. You are NOT to communicate with anyone else except the instructor during the exam. Open book does not mean do not study! Complaints of not having enough time are most often due to lack of studying for the exam. Prepare a study sheet. Helps you reference important information quickly & avoid clutter.

4 SCM Operations & Productivity 4 What our inputs and outputs? Why do we produce goods and services? Where do we produce goods and services? How do we learn OPERATIONS MANAGEMENT??? Operations Mgmt (Ch. 1) How do we produce goods and services? Process Strategy, Layout, (Ch 7 and Ch 9) Ops. Strategy (Ch. 2) How many goods (services) can we produce? Process Strategy (Ch 7) Capacity Mgmt (Ch S7) Globalization, Location (Ch. 2 & Ch. 8) How much product (or service) is demanded? Forecasting (Ch 4) WE ASK THE RIGHT QUESTIONS! How much to order? When to order? Inventory Mgmt (Ch 12) SOP (Ch 13) MRP (Ch 14) How do we make the process better? TPS/JIT/Lean (Ch 16) Who are our partners? Who s in our network? Supply Chain Mgmt (Ch 11 & Ch 11s) Coming up next How do we make a better impact? Sustainability (Ch 5) How do we make the product better? Quality Management (Ch 6 and 6S) How do we make the product on schedule? Project Mgmt (Ch 3)

5 5 Operations & Productivity 1. What is operations management? 2. How does operations management relate to other functional areas of business? 3. Distinguish between goods and services and how operations are managed for each. 4. Define production and productivity. 5. Compute single-factor productivity. Compute multifactor productivity 6. What are the critical variables in enhancing productivity?

6 6 Operations Strategy: Why do we produce goods and services? 1. Why is effective operations strategy important? Examples. 2. What is a mission (statement)? What is a strategy? 3. What operational considerations and challenges are brought about by globalization? 4. What is a Key Success Factor? Core competency? 5. What are Porter s Five Forces? 6. What is SWOT analysis? 7. What s the difference between order winner and order qualifier? 8. Describe three strategies for competitive advantage (differentiation, cost, response) examples 9. What are operational issues around outsourcing?

7 I 7 Location Strategies Where do we produce goods and services? 1. Identify and explain seven major factors that affect location decisions. 2. Apply the factor-rating method. 3. Compute a locational break-even analysis graphically and mathematically. 4. Compute location decision using center-ofgravity method. 5. Explain differences between service and manufacturing location analysis.

8 I 8 Process Strategy: How do we produce goods and services? How much vs. How many 1. Describe, compare, and provide specific firm examples of the four process strategies. 2. Graph accurate cross-over charts and solve for intersection points to indicate at what volumes a company should switch from one process to another. 3. Identify 5 different process analysis tools. 4. Compare how they are used. Provide examples

9 I 9 Layout Strategies: How do we produce goods and services? 1. Explain important issues, objectives and examples for the 7 types of layouts. 2. Compute takt time and # of workers required for balancing work cells.

10 10 Capacity Management How much CAN we produce? A. Define and distinguish between capacity, design capacity, effective capacity, utilization, throughput B. Discuss Capacity Considerations, Managing Demand, and Capacity Expansion/Contraction C. Compute system capacity for simple system and identify the bottleneck resource

11 11 Forecasting How much should we produce? How much is demanded? 1. Why is effective forecasting important? Examples. 2. Distinguish 3 time horizons for forecasting and methods for each. 3. Compare qualitative vs. quantitative forecasting, their methods and uses. 4. Describe four types of variation in time series data. 5. Compute the following time-series forecasts: 1. Naïve, Moving Avg., Weighted Moving Avg., Exponential Smoothing 6. Interpret associative models and use of regression in forecasting 7. Compute prediction given slope and intercept 8. Interpret correlation and R Compute measures of forecast accuracy 1. MFE, MAD, MSE, MAPE 10. Compute a tracking signal to monitor forecast quality 11. Describe responsiveness vs. stability tradeoff. Examples. 12. Describe forecasting insights from M&M s game