MBA 745 Final Exam Questions & Answers 2024/2025
1.Value Stream - ANSWERSall activities (value added, business value added, and non-value added) required to meet a customer or stakeholder request.
2.Types of Value Stream - ANSWERSProducts
Services
Ideas
Sales
Resources
Projects
3.Ty...
1.Value Stream - ANSWERSall activities (value added, business value added, and non-value added)
required to meet a customer or stakeholder request.
2.Types of Value Stream - ANSWERSProducts
Services
Ideas
Sales
Resources
Projects
3.Types of Value Stream - ANSWERSProducts: A product used from materials to the point of use by the
customer
4.Types of Value Stream - ANSWERSServices: A service from suppliers to solving the need of a customer
(ex barber, police, etc)
start when notified service is required, end when service is provided
5.Types of Value Stream: Ideas - ANSWERSfrom concept to implementation (new products and services)
concept through product launch
6.Types of Value Stream: Sales - ANSWERSnew business from marketing to closing the deal
Prospect to Order
,7.Types of Value Stream: Resources - ANSWERSfrom justification to retirement at end of use (recruiting
of new employees through retirement)
Equipment and people
8.Types of Value Stream: Projects - ANSWERSProjects from concept o implementation and support (ex
lean transformation project - from concept through implementation)
Concept to Improvement
9.Value Stream Manager - ANSWERSdesignated as the owner of a value stream which crosses functional
boundaries. They are champions for future state design and implementation, creating flow and leverage
pull across all functions
10.Value Stream Map - ANSWERSA visual representation of activities and flows of information, materials,
and services required to accomplish specific objectives.
11.Value Stream Flows - ANSWERS> Materials, Products and Services >
< Funds and Returns <
< Information >
12.A current state value stream map must be... - ANSWERS...at the level of detail which identifies the
waste.
13.Mapping the Value Stream - 1-10 - ANSWERS1. Identify Mapping Team
2. Identify Value Stream
3. Identify Suppliers
4. Identify Inputs
5. Identify Process
6. Identify Outputs
7. Identify Customers
,8. Other Stakeholders
9. Speculate Value
10. Champion Approval
14.Steps 11-20: Creating the map: 11. Choose Approach
16.Value Add Guestimate - ANSWERStotal time something is happening divided by the total time.
17.Check Sheet - ANSWERSa tool for recording and organizing data to identify a problem
18.Run Charts - ANSWERStype of chart used to show variations in the process over time or to show
trends (such as improvements or the lack of improvements) in the process.
19.4 rules of run chart - ANSWERSSTAR
- Shift
- Trend
- Astronomical
- Runs
, 20.Run Chart - ANSWERSShift: when too much data is grouped above or below the lines (rule of 6)
21.Run Chart - ANSWERSTrend: When a consecutive group is going up or going down (5 points)
22.Run Chart - ANSWERSAstronomical: When there is an outlier
3.Run Chart - ANSWERSRuns: (too few or too many) - number of times the median line is crossed
24.Value Stream Map - ANSWERS: a visual representation of activities and flows of information,
materials, and services required to accomplish specific objectives.
25.Value Stream Mapping - ANSWERS: a team based systematic approach to create value stream maps
which identify waste in the current state or paint the vision of a future state with less waste.
26.Made to Stock - ANSWERSEnvironment where products can be and usually are finished before receipt
of a customer order (ex - grocery store)
27.Assemble/Finish to Order - ANSWERS- An environment a product or service is assembled after receipt
of a customer's order
- Products are typically a mix of standard items and prefabricated modules
28.Make to Order - ANSWERSa) An environment where a good or service is made after receipt of a
customer's order
b) Relatively long lead time to ship after the order is received --> carry less stock
29.Design/Engineer to Order - ANSWERSa) An environment where customer specifications require
engineering design, specific customization or unique materials
30.Push - ANSWERSa process that relies upon a forecast to create inventory in anticipation of customer
orders
o You push inventory into your supply chain
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