Course Review(2).pptx

Course Review(2).pptx - OMGT2199 Operations Management...

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1 OMGT2199 - Operations Management Course Review

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2 Dear Students, The questions discussed in the following slides are just for reviewing the course topics and provide you with better preparation for the final exam. Please be advised that for the final exam you must refer to ALL topics that have been discussed in the lectures and tutorials. A full exam paper is uploaded on the Blackboard. Please do not rely merely on the sample questions in these slides or the sample exam paper. Final Exam RMIT University Vietnam 6/16/2017
3 Final Exam SECTION A: Answer ALL of the following FOUR (4) Questions. Each question 10 marks. Total 40 marks. SECTION B Answer ALL of the following FIVE (5) questions. Total 60 marks. Show all calculations. Use two decimal places for all calculations. See Formula Sheet on the Bb RMIT University Vietnam 6/16/2017

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4 Operations management (OM) is the set of activities that create value in the form of goods and services by transforming inputs into outputs Goods and Services RMIT University Vietnam 6/16/2017
5 Productivity Measures Productivity is the ratio of outputs (goods and services) divided by the inputs (resources such as labor and capital) RMIT University Vietnam 6/16/2017 Capital Output ; Labor Ouput ; Input Single Output ity Productiv Partial Input Output = ty Productivi Energy + Capital + Labor Output ; Machine + Labor Ouput ; Inputs Multiple Output vity r Producti Multifacto

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6 Productivity Q1 A bakery bakes 375,000 breads each year. A worker works 40 hours per week. The bakery aims to have a labour productivity of 45 bread per labour hour. How many worker is needed to achieve the productivity? RMIT University Vietnam 6/16/2017
7 Productivity Q2 A firm cleans chemical tank cars in the Bay St. Louis area. With standard equipment, the firm typically cleaned 70 chemical tank cars per month. They utilized 10 gallons of solvent, and two employees worked 20 days per month, 8 hours a day. What was their raw material and their labor productivity with the standard equipment? Interpret. RMIT University Vietnam 6/16/2017

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8 Productivity Q3 Alex grows crop in his 100 by 100 meter garden. He then sells the crop at the local farmers' market. Two summers ago, he was able to produce and sell 1200 kilos of crop. Last summer, he tried a new fertilizer that promised a 50% increase in yield. He harvested 1900 kilos. Did the fertilizer live up to its promise? RMIT University Vietnam 6/16/2017
9 Forecasting Approaches o Qualitative Forecasting o Quantitative Forecasting Time-Series Associative Forecasting Techniques Forecast Accuracy Metrics RMIT University Vietnam 9 Forecasting 6/16/2017 n t t Forecast Actual MAD 2 t t 1 Forecast Actual MSE n n 100 Actual Forecast Actual MAPE t t t

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