Final Test - Final Review (4/25/2012)

Card Set Information

Author:
jlm158
ID:
149908
Filename:
Final Test - Final Review (4/25/2012)
Updated:
2012-04-24 20:48:02
Tags:
Final Test Review 25 2012
Folders:

Description:
Final Test - Final Review (4/25/2012)
Show Answers:

Home > Flashcards > Print Preview

The flashcards below were created by user jlm158 on FreezingBlue Flashcards. What would you like to do?


  1. Process
    Any transformation that converts inputs into outputs
  2. Process Flow Measures
    • Flow Time
    • Flow Rate
    • Inventory
  3. Goal of 6 Sigma
    Meet customer target expectations. Think narrowing the bell curve within the lower and upper defects.
  4. Define
    Define performance standards
  5. Measure
    Validate measurement system
  6. Causes of bullwhip effect
    • 1. Damage signal processing
    • 2. Order Batching
    • 3. Price Fluctuations
    • 4. Rationing
  7. Damand signal processing
    Starts with retailer demand is higher than expected in current period - leads to increased order size for next period which leads to increases all along supply chain.When demand drops, each area of SC is stuck with mroe inventory then necessary
  8. Bullwhip effect
    Distortion of demand - overreaction of trading partners
  9. Order batching
    large, infrequent orders or production
  10. Price fluctuations
    sudden price decrease may cause trading partners to "stock up"
  11. Rationing
    When orders exceed product availability, supplier may ration supply. Customer stocks up in anticipation of rationing
  12. Strategic Positioning
    Position a firm wants to occupy within the competitive product space
  13. Flow Time
    • On average how much time does a typical flow unit spend within the process
    • boundaries? INCLUDES WAIT TIME
  14. Flow Rate
    • On average, how many flow units pass through the process per unit of time
    • i.e. how many seats per hour
  15. Three main factors that affect amount of safety inventory
    • Level of desired customer serviceAverage and uncertainty of
    • demandAverage and uncertainty of lead time
  16. Levers for reducing safety inventory (5)
    • 1. Reduce demand variability through improved forecasting (subjective and
    • objective)2. Reduce replenishment lead time (bring product in quicker)3.
    • Common Components4. Postponement5. Product substitution
  17. Averages
    USE CAUTION!!! Need to understand context. Can't always take @ face value.
  18. Value added activity
    Any activity a customer would pay for.

    • Daycare @ gym
    • Customer service @ bank
    • Bingo on plane
  19. 5s
    • Sort
    • Straighten
    • Shine
    • Standardize
    • Sustain - hardest of all
  20. DMAIC
    • Define - Define problem
    • Measure - measuring systems need to be accurate/relevant
    • Analyze
    • Improve
    • Control
  21. Manager v Leader
    A good manager "manages" people by pulling them along and getting them to do the things needed to help the group/company succeed. A good leader is someone that people want to follow. Someone with innovative ideas that people are willing to work hard for because
  22. Inventory
    # of flow units within the process boundaries
  23. 8 forms of waste (lean)
    • 1. Overproduction
    • 2. Defects
    • 3. Inventory
    • 4. Over processing
    • 5. Transportation
    • 6. Intellect
    • 7. Waiting
    • 8. Motion
  24. Visual is a key principal of:
    LEAN
  25. Lean (5)
    • 1. Remove waste (non value add activities) from process
    • 2. Reduce
    • processing/cycle times
    • 3. Minimize Cost
    • 4. Improves utilization of scarce
    • resources
    • 4. Visual process
  26. Six Sigma (4)
    • 1. Minimize variation2. Data driven3. DMAIC4. Goal = Tight process,
    • meet customer expectations.

What would you like to do?

Home > Flashcards > Print Preview