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SCM 303 EXAM 2 MSU |Questions with 100% Correct Answers
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SCM 303 EXAM 2 MSU |Questions with 100%Correct Answers
Steps to Compute Control Charts: - ✔️✔️1.Collect data.
2. Compute the range.
3. Use Table to determine R-chart control limits.
4. Plot the sample ranges. If all are in control, proceed to step 5. Otherwise, find the assignable
causes, correct them, and return to step 1.
5.Calculate x for each sample and determine the central line of the chart, x
6. Use Table to determine control limits
7. Plot the sample means. If all are in control, the process is in statistical control. Continue to
take samples and monitor the process. If any are out of control, find the assignable causes,
correct them, and return to step 1.
Process Capability - - ✔️✔️The ability of the process to meet the design specification for a service
or product
Nominal Value - ✔️✔️A target for design specifications
Tolerance - ✔️✔️An allowance above or below the nominal value
Process Capability Ratio (Cp) - ✔️✔️-The tolerance width divided by six standard deviations.
-This test is conducted if a process fails the process capability index text.
- The test determines if process variability is causing the problem.
Short-range forecast - ✔️✔️Up to 1 year, generally less than 3 months
Purchasing, job scheduling, workforce levels, job assignments, production levels
, Medium-range forecast - ✔️✔️3 months to 3 years
Sales and production planning, budgeting
Long-range forecast - ✔️✔️3+ years
New product planning, facility location, research and development
Qualitative Methods - ✔️✔️Used when situation is vague and little data exist
- New products
- New technology
Involves intuition, experience
e.g., forecasting sales on Internet
Quantitative Methods - ✔️✔️Used when situation is 'stable' and historical data exist
Existing products
Current technology
Involves mathematical techniques
e.g., forecasting sales of color televisions
Qualitative Methods - ✔️✔️1. Jury of executive opinion
Pool opinions of high-level experts, sometimes augment by statistical models
2. Delphi method
Panel of experts, queried iteratively
3. Sales force composite
Estimates from individual salespersons are reviewed for reasonableness, then aggregated
4. Market Survey
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