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Exam 3 Study Guide - Exam 3 Study Guide(MANGT 421 Ch 5...

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Exam 3 Study Guide (MANGT 421) Ch. 5 Objectives - Capacity Know how to calculate utilization and efficiency. Be able to solve problems similar to the ones at the back of the chapter that may have you solve for different variables using these equations. Know the difference between design capacity and effective capacity. Be able to identify which is which from wording in a problem and use them to find efficiency and utilization. Understand what is important in making capacity decisions. What information is needed? What factors are considered? Understand the theory of constraints, the 5 steps for managing constraints (Wording is slightly different between “The Goal” and the text. Understand the concept of each step.), how to find bottlenecks, and how bottlenecks impact throughput. Be able to recognize or give examples on how to exploit and elevate bottlenecks as well as what it means to subordinate to them. (Some examples are provided in “The Goal.”) Know what bottlenecks and floating bottlenecks (process steps have same average and bottlenecks move due to variation) are and how they impact a process. (Consider the hike, the match game, and Hilton Smyth order in “The Goal”.) Understand economies of scale and diseconomies of scale. At which volumes does each occur on a graph of cost per unit vs. volume? What can cause each of these?
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