Mid-Term Review.docx - GSBA 534 Operations Management...

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GSBA 534 - Operations Management Operation Process Measures Capacity: The number of units, per unit of time, that can be processed. Measured by the slowest (bottleneck resource) Cycle Time: The average time a unit stays within the boundaries of the system? Work in Process (WIP) is the average number of units in the processing system at any point in time. Little’s Law WIP = Capacity x Cycle Time = Flow Rate x Flow Time (FR x FT) = Throughput Rate x Throughput Time (TR x TT) Flow Rate = FR = COGS WIP = Inventory Flow Time = FT = WIP/FR In Class Example City always has 100 “fire-people” slots. Sixty percent are temporary, the rest
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