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Finding the optimal routing for a product that must be processed sequentially through
several machine centers, with each machine in a center having its own cost and output
characteristics cannot be solved using linear programming.
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Make-to-stock production processes can easily handle requests for customized product
features.
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Outsourcing is the act of moving some of a firm's internal activities and decision
responsibility to outside providers.
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A key tool of a quality function deployment team is the house of quality matrix.
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Kaizen is a term used when perfect quality levels have been attained.
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Experience and trial and error are the simplest ways to choose weights for the weighted
moving average forecasting model.
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To implement a MRP system successfully, a high degree of inventory and
bill-of-material accuracy is required. This may involve significant change in how a firm
operates.
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Looking at the loads that are placed on each resource by the products that are scheduled
through them is called process flow profiling.
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Data envelopment analysis is a linear programming technique used in operations
consulting to measure the relative performance of branches of multi-site service
organizations such as banks.
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Aggregate sales and operations planning occurs in a company about every 3 to 18
months.
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An operational goal of total quality management is ensuring that the organization's
systems can consistently produce the product or service as it is designed.
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Setup time is the time required to prepare a process to produce a particular item.
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A quality control chart has upper and lower control limits expressed as lines on a chart.
As long as the sample values fall between these two lines there is no need to investigate
process behavior.
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Standard practice in statistical process control for variables is to set control limits so
that 95 percent of the sample means will fall within the UCL and the LCL.
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In the Time-Cost CPM model, cost is a linear function of time.
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Process analysis can help answer many important questions such as why change in a
process is necessary.
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To calculate the variances of activity times in CPM analysis we must use all three time
estimates (i.e., optimistic, most likely and pessimistic time estimates).
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Efficiency means doing the right things to create the most value for the company.
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A material requirements planning (MRP) system with information feedback from its
module outputs is termed a "closed-loop MRP" system.
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The cost of capital is calculated from a weighted average of debt and equity security
costs.
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