1. What are the four types of production environment of the firm and define them?
Make to stock: when a firm serves customers using inventory composed of finished products
Assemble to order: when a firm assembles sever
What are the factors which allows firm to achieve economies of scale?
Flexibility (Plants, Processes, Workers), High Utilization, Growth and Large Size
What are the two ways through which firm can add capacity by using
1. Average demand for a period of time/ trend/ seasonal element/ cyclical elements/ random
Our focuses in class were: Trend & Seasonality
2. The major difference between seasonality and
1. What is the definition of operations and supply chain management?
Operations and supply chain management is the full-spectrum management of a firms inputs (raw
goods, labor, etc.) and the processes that m
Exam 1 review 882 scantron calculator z table provided
1. What is oscm: similar to HW question
2. Difference between goods and services: goods are tangible, services intangible, goods are
3. Differences between Efficiency, effectiveness
What is operations/supply chain management?
The design, operation, improvement of the systems/processes
that create & deliver the firms primary products/services.
Goods: tangible, less interaction w/ customers, homogenous
(similar parts), not perishable (
Chapter4- Inventory Management
required per day & production time/day is 420 minutes.
The main objective of Aggregate Operations Plan Cut and Try Approach
Aggregate plan is to specify optimal combo of production rate, workforce level, &
Process Improvement: Reducing Waste Through Lean
History and Philosophy of Lean
Traditional Systems Compared to Lean Systems
B Product/service design
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SUMMARY OF SKI