In forecasting, RSFE stands for “running sum of forecast errors.”
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Internet technology has made the sharing of reliable real-time information expensive.
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Accurate medium-range planning increases the likelihood of operating within the limits
of a budget.
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“Kanban Squares” is an educational game played in Kanban training sessions.
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Value stream mapping is used to identify all of the value-adding as well as
non-value-adding processes that materials are subjected to within a plant.
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In a hub-and-spoke system each warehouse in the system acts as a spoke.
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Low rates of capacity utilization in service organizations are never appropriate.
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Engineer-to-order firms will work with the customer to design the product, and then
make it from purchased materials, parts, and components.
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One of the basic purposes of inventory analysis in manufacturing and stockkeeping
services is to specify when items should be ordered.
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OSCM is a functional field of business with clear line management responsibilities.
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A kaizen burst is an overfilled kanban container.
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The fixed-time period inventory system has a smaller average inventory than the
fixed-order quantity system because it must also protect against stockouts during the
review period when inventory is checked.
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The key difference between a fixed-order quantity inventory model, where demand is
known and one where demand is uncertain is in computing the reorder point.
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The service-system design matrix identifies five alternative forms of service encounters.
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In Japanese manufacturing automation and robotics are used extensively to perform dull
or routine jobs so employees are free to focus on important improvement tasks.
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An important aspect of service products is that they cannot be inventoried.
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In a practical sense, an infinite queue is one that includes every possible member of the
served population.
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In a price break model of lot sizing, to find the lowest-cost order quantity, it is
sometimes necessary to calculate the economic order quantity for each possible price.
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Bayesian analysis is the simplest way to choose weights for the weighted moving
average forecasting model.
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In facility location decision-making matching the educational and skill levels of the
labor pool to a company’s needs is even more important than the labor pool’s
willingness and ability to learn.
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