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What is a characteristic of the capacity lead strategy in capacity expansion?
What is a characteristic of the capacity lead strategy in capacity expansion?
Which strategy involves expanding capacity in a single step rather than in increments?
Which strategy involves expanding capacity in a single step rather than in increments?
In the context of Material Requirements Planning (MRP), what is primarily focused on?
In the context of Material Requirements Planning (MRP), what is primarily focused on?
What encompasses the main inputs of MRP?
What encompasses the main inputs of MRP?
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Which scheduling sequencing rule is predominantly utilized in MRP?
Which scheduling sequencing rule is predominantly utilized in MRP?
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What layout is best suited for operations where resources are grouped based on similar processes?
What layout is best suited for operations where resources are grouped based on similar processes?
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Which facility layout would be utilized for products that are too large to move easily?
Which facility layout would be utilized for products that are too large to move easily?
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In which type of layout are resources arranged in sequence along assembly lines?
In which type of layout are resources arranged in sequence along assembly lines?
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What is the primary characteristic of a cell layout?
What is the primary characteristic of a cell layout?
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Which layout allocates space in accordance with customer behavior?
Which layout allocates space in accordance with customer behavior?
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What is safety stock primarily used for?
What is safety stock primarily used for?
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Which method incorporates both demand behavior and the probability of stockouts?
Which method incorporates both demand behavior and the probability of stockouts?
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What is the primary goal of managing safety stock?
What is the primary goal of managing safety stock?
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Which of the following statements about the EOQ model is true?
Which of the following statements about the EOQ model is true?
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Which formula is likely to be utilized in forecasting?
Which formula is likely to be utilized in forecasting?
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What term describes the probability that the inventory available during lead time will meet demand?
What term describes the probability that the inventory available during lead time will meet demand?
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What is a potential downside of using a simplistic method of calculating safety stock?
What is a potential downside of using a simplistic method of calculating safety stock?
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What factor does the service level method explicitly account for?
What factor does the service level method explicitly account for?
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What is meant by a carbon footprint?
What is meant by a carbon footprint?
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Which of the following best describes renewable energy?
Which of the following best describes renewable energy?
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What does greenwashing refer to?
What does greenwashing refer to?
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Which of the following actions would most directly reduce carbon emissions in supply chains?
Which of the following actions would most directly reduce carbon emissions in supply chains?
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What is one significant benefit of supply chain improvement?
What is one significant benefit of supply chain improvement?
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Which option illustrates an eco-friendly action?
Which option illustrates an eco-friendly action?
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What does the term compostable mean?
What does the term compostable mean?
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Which of the following practices contributes to reducing plastic waste?
Which of the following practices contributes to reducing plastic waste?
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What is the primary assumption made in time series forecasting?
What is the primary assumption made in time series forecasting?
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What kind of demand behavior reflects a consistent, predictable pattern over time?
What kind of demand behavior reflects a consistent, predictable pattern over time?
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Which of the following best describes 'random variation' in demand forecasting?
Which of the following best describes 'random variation' in demand forecasting?
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When should a new model be selected in the forecasting process?
When should a new model be selected in the forecasting process?
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What type of demand behavior is characterized by a general rise or fall over a significant period?
What type of demand behavior is characterized by a general rise or fall over a significant period?
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What should be included to enhance forecasting accuracy?
What should be included to enhance forecasting accuracy?
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Which of the following is NOT a component of time series forecasting?
Which of the following is NOT a component of time series forecasting?
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What happens after a forecast is computed in the forecasting process?
What happens after a forecast is computed in the forecasting process?
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What is the primary characteristic of the Naïve forecasting model?
What is the primary characteristic of the Naïve forecasting model?
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Which formula correctly represents the Simple Moving Average forecasting method?
Which formula correctly represents the Simple Moving Average forecasting method?
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What does the term 'N' represent in the Simple Moving Average formula?
What does the term 'N' represent in the Simple Moving Average formula?
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What is a key advantage of using a Weighted Moving Average over a Simple Moving Average?
What is a key advantage of using a Weighted Moving Average over a Simple Moving Average?
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In the Weighted Moving Average, how do the weights typically behave?
In the Weighted Moving Average, how do the weights typically behave?
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Which statement best describes the effect of using a moving average model in the presence of seasonal demand variations?
Which statement best describes the effect of using a moving average model in the presence of seasonal demand variations?
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What would be a good scenario to apply the Naïve forecasting model?
What would be a good scenario to apply the Naïve forecasting model?
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What characteristic makes the Naïve forecasting model susceptible to changes in demand?
What characteristic makes the Naïve forecasting model susceptible to changes in demand?
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Study Notes
MOS 3330 Course Overview
- The course covers topics including introduction, supply chain management, inventory management, forecasting, aggregate planning, material requirements planning, enterprise resource planning, process and product design, Just-In-Time systems, quality, statistical process control, and total quality management.
- There are assessments throughout the course including Test 1, Test 2, and a final exam. Formula sheets are provided with tests.
- The course will cover aspects of operations management, with learning objectives focused on definitions, the importance of OM, the difference between goods and services, and overall trends.
Introduction to Operations Management
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Learning Objectives cover 4 points:
- What is Operations Management (OM)?
- Why study OM?
- Goods vs. Services
- Trends in OM
- OM is the transformation of inputs into finished goods and services. Inputs include raw materials, supplies, employee skills, facilities, capital, and equipment. Outputs are finished goods and services.
- OM includes various operations like manufacturing, deliveries, retail, health care, entertainment, and education.
- Operations management is crucial to all organizations.
Supply Chain Management
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Learning Objectives cover 5 points:
- Supply chains
- Supply chain related subjects
- Bullwhip effect
- Supply chain strategies
- Supplier relationships
- Supply chain: a network of facilities, functions, and activities involved in producing and delivering products or services from suppliers to customers.
- Supply chain management coordinates the movement of goods and controls the information in the supply chain, including sales data, sales forecasts, promotions, and inventory levels.
Logistics
- Shipping and delivery: Transportation cost, mode, lead time, and traffic management play a role. Highway, rail/water, pipelines, air are different modes.
- Distribution management is also part of logistics.
- Facility location, proximity to customers, business climate, labor quality, infrastructure, positioning of inventory (where/how many to hold?) and 3PL (third-party logistics) are key concerns.
- Other logistics concerns include international businesses and outsourcing freight consolidation and distribution activities.
Purchasing
- The purchasing cycle consists of:
- Receiving requisitions
- Selecting suppliers
- Placing orders with vendors
- Monitoring orders
- Receiving orders
- Purchasing involves coordinating with other teams (accounting, engineering, legal).
Sourcing
- Selecting suppliers based on price, quality, services, location, and flexibility.
- Supplier selection strategies include single sourcing for better relationships and frequent deliveries; or multiple suppliers to spread risk.
- These approaches are contrasted with factors like volume flexibility, and high ordering costs.
Bullwhip Effect
- The distortion of information along the supply chain, where customer demand gets increasingly distorted as it moves through the supply chain towards suppliers.
- Contributing factors include batch ordering, costs, return policies, promotions, pricing that leads to forward buying, a lack of visibility of end demand, inaccurate forecasting, and long lead times.
Inventory Management
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Learning Objectives:
- Purposes of inventory
- Inventory control systems
- Inventory costs
- EOQ models
- Safety stock
- Inventory: A stock of items or materials held to satisfy eventual demand
- Raw materials, purchased parts and supplies
- Work-in-process (partially completed) products
- Finished goods
- Rework items
- Tools, machinery, and equipment
- Labor
Forecasting
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Learning Objectives:
- Qualitative vs. quantitative methods
- Forecasting process
- Time series methods
- Forecast error measures
- Forecasting predicts the future from past experience and current events.
- Forecasting in OM includes strategic planning of markets and product demand for long-range, mid-range, and short-range applications.
Enterprise Resource Planning (ERP)
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Learning Objectives:
- What is ERP
- Historical development of ERP
- ERP enablers, and implementation issues
- Project management basics
- ERP software integrates modules to control and coordinate business processes within an entire enterprise, including manufacturing information systems as its origin. Historical contexts and enablers include various eras, including MRP, MRP + CRP, MRP II, and finally ERP. Implementation issues include technical challenges with handling large data sets, data integrity, training, and behavioral issues including support from management and employee buy-in.
Process and Product Design
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Learning Objectives:
- Process types
- Facility layout types
- Manufacturing technology, and product design basics
- Process: How to transform input into output.
- Types of product flow and approaches to orders. Product volumes and standardization.
Just-In-Time (JIT) Systems
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Learning Objectives:
- JIT origin and philosophy
- JIT key elements
- Implementation issues, and job design basics
- JIT aims to eliminate waste and produce products when needed to minimize inventory and other wasteful processes. Key elements include work cells, pull manufacturing systems, and the kanban system to improve flow coordination.
Quality
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Learning Objectives:
- What is quality
- Quality measures
- Costs of quality
- Process improvement
- Continuous improvement
- Quality: The totality of features and characteristics that satisfy needs. Quality is a measure of conformance to specifications and fitness for use, and the perspective is varied, between producer and consumer. Measures include output, yield, costs associated, and other indices.
- Quality improvement and tools include process improvement, continuous improvement, Six Sigma, and related awards and standards. Processes and techniques such as those used in statistical process control (SPC) are part of quality improvement process, and useful for measuring and controlling quality.
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