Exam3_2008 - Quiz 3 EIN 6227 J. Hartman Fall 2008 Name_...

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Quiz 3 Name___________________ EIN 6227 J. Hartman DUE: Friday, December 5, 12 midnight Fall 2008 INSTRUCTIONS: Answer the following 14 questions on the following six pages. Show all of your work (unless you do not want credit). If you make any assumptions to complete a problem, state them clearly. Point values are adjacent to the problem number. You may not discuss this quiz with anyone else! However, you may use any other resource at your disposal (notes, books, internet, etc.). [2] 1. Why should (must) a manager track a process improvement project after it has been implemented? [2] 2. From what three probability distributions can you easily sample from in Excel? [2] 3. Name two benefits of reducing inventories. [2] 4. What is the difference between a simulation model and an optimization model (such as a linear programming model)?
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[2] 5. Why is transportation generally considered a waste in most processes? [2] 6. Name two benefits for retaining inventories. [2] 7. Do all process improvement projects require an investment? Explain. [2] 8. Should all potential intangible outcomes that may result from process improvements be evaluated (considered)? Explain. [2] 9. Why are cycle time reductions that result from process improvements not necessarily economically beneficial?
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[2] 10. In general, which, if any, of the “seven wastes” would you consider “intangible”?[20] 11. Your consulting firm has been hired again. A local breakfast and lunch shop enjoys a bustling business from 12 – 1:30 p.m. during the week, catering to the lunch crowd (in a hurry to return to work). The owner is curious whether the one cook and one cashier set-up is sufficient during that time. The process is quite simple:
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Exam3_2008 - Quiz 3 EIN 6227 J. Hartman Fall 2008 Name_...

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