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Exam 4 Review Sheet (1)

Course: ECON 101, Spring 2012
School: Kansas State
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4 Exam Review Sheet MANGT 421 (Fall 11) Chapter 8 Are location decisions more strategic or practical? Explain. Understand how the location within the supply chain (beginning, middle, end) impacts the focus needed in determining location alternatives (p. 371). What are the 2 key factors in facilitating globalization? What are the benefits of globalization? (p. 372) What are the disadvantages of...

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4 Exam Review Sheet MANGT 421 (Fall 11) Chapter 8 Are location decisions more strategic or practical? Explain. Understand how the location within the supply chain (beginning, middle, end) impacts the focus needed in determining location alternatives (p. 371). What are the 2 key factors in facilitating globalization? What are the benefits of globalization? (p. 372) What are the disadvantages of globalization? (p. 373) What are the risks involved in globalization? (p. 373-374) Know the general procedure for making location decisions. (p. 376) Understand what Geographic Information Systems (GIS) are and how they can be helpful. (p. 379 and from video) Know how to use break even analysis (location-cost-profit-volume analysis) to find the point of indifference, total costs for each option, total profit for each option, etc. Be able to find the volume needed for a given cost or profit. Be able to determine the range for which each option is best. Know the assumptions involved in the break-even analysis method. (p.385) Know when and why the transportation model is used (but not how to use it to solve problems). (p. 387) Know when and why the factor rating technique is used. What advantage does it have over the other techniques in this chapter? Know how to find the best location using factor analysis and how to use a minimum composite score in your decision. Know the purpose of using the center of gravity method. Know how to find the optimum location using the center of gravity method when quantities are known and when they are approximately equal. Chapter 9 Understand the differences between a reactive approach to quality management and a proactive approach (p. 408). Understand Demings contributions to the fields of management and quality. Handout on KSOL regarding Demings 14 points and 7 deadly diseases. Links to Deming videos for additional info: Part 1 http://www.youtube.com/watch? v=GHvnIm9UEoQ&feature=related Part 2 http://www.youtube.com/watch? v=mKFGj8sK5R8&feature=related Part 3 http://www.youtube.com/watch?v=6WeTaLRb-Bs&feature=related Know the three parts of Jurans Quality Trilogy. (in book and in handout posted on KSOL) Know that Juran is credited with this trilogy as well as looking at the cost of poor quality (described more in handout posted on KSOL). Know what the word kaizen means. Understand who defines quality. Know the dimensions of quality for manufacturing and for service (p. 412-413). Be able to identify relevant examples for these dimensions. What are the 4 determinants of quality? Understand the costs of poor quality. There are 4 categories. Know which is most expensive and understand why. Know what the MBNQA is, where it is given, and benefits of the competition. Know what the Deming Prize is and where it is awarded. Know seven major criteria for the MBNQA. Know which of these is given the most weight in the results. Understand the benefits of ISO certification. Know what ISO 9000 and ISO 14000 are (in general). Know what TS16949 is (in general). Understand why good inspection does not indicate good quality. Understand the difference between defect detection and defect prevention. Know the 5 steps in the TQM approach. Know the 10 elements of TQM (p. 428). Understand what quality at the source means. Understand the DMAIC methodology and what the acronym stands for. What is Six Sigma? What is Lean Six Sigma? What is the PDSA cycle, and what takes place in each phase? Know what managerial decisions are made for Six Sigma (p. the 429). Know different roles of Six Sigma practitioners (e.g. champion, black belt, etc. what they are and what they do). Know the data analysis tools by name, graphic, and function. (p. 435-446) Be able to draw conclusions and make recommendations (what would the next step be? What should be done?) from affinity diagrams, checklists, Pareto charts, scatter diagrams, histograms, line (run) charts, bar charts, fishbone diagrams, and control charts. Know when to use these tools. Be able to construct a cause-and-effect diagram. Know the 5 typical categories used in a cause-and-effect diagram. Understand the approach and methodology given in the MegaBytes case study on KSOL. Understand the approach and methodology discussed in class related to the ChickN-Gravy and Tip Top Markets cases. Chapter 10 Know the basic issues (4) involved in inspection (p. 458). Understand what managers should consider as they make these decisions. Know what level of inspection is typical for low-cost, high-volume items and for highcost, low-volume items and why (p. 459). Understand the different places in the process that inspection can be most helpful (p. 460). Understand the advantages and limitations of inspecting at these points. Know the two types of variability, what they are, and how they can be identified. Understand what control charts are, what their purpose is, and the basic equation used for all of the control charts. Know what manufacturers risk and consumers risk are. Given a situation in writing, be able to detect which one of these errors is present. Understand the trade-off between the two and the relationship between manufacturers risk, alpha, and Z. (If the manufacture desires a risk of 1%, for example, what Z value should he/she use?) Know when to use each of the different control charts we discussed (X-bar, R, C, P). Be able to recommend which one should be used given a description of a situation. (p. 472 may be helpful) Understand what happens to control limits (widen or tighten) as sample size increases (or decreases) for X-bar and R charts. Understand why this change takes place (in general from our discussion). Understand the managerial considerations concerning control charts (p. 475). Know what points in the process control charts should be focused on. Understand the trade-offs involved in determining sample size. Be able to interpret control charts. Describe if they are in control or out of control, if there are any non-random patterns (as given on p. 476), and what point(s) or patterns should be investigated. Know what is good and bad for the different types of control charts. (For example, fewer defects per unit on a C-chart are good.) Understand the differences between specification (tolerance) limits and control limits. Where does each of them come from? Can a process be in control and not within the spec limits? Can a process be within spec limits but out of control? Why? Given a target and a tolerance (12 +/- 0.1 oz) from customer or design standards, be able to determine USL (UTL) and LSL (LTL). Know how to calculate Cp and Cpk. Know which is the process capability ratio and which is the process capability index. Know what each of these means (Which one considers the centering of the process?) and be able to assess if a process is capable at a 4-sigma quality level (or other levels of quality). Know some methods for improving process capability (Table 10.5). Know the basic risks of using a capability index (p. 485). Understand what the Taguchi cost function communicates (Figure 10.17).
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