Pma 3 - Study guides, Class notes & Summaries

OPMA 317 FINAL EXAM QUESTIONS AND ANSWERS RATED A During the SCM Exercise Graph Commonalities Fluctuations, amplification, and a time lag between the retailer to the factory Beer Game Average Everyone averaged around the same even though some came from different backgrounds yet the players control the game, you can't blame customer demand What caused people to act the way they did during the beer game? 1) Lack of communication/cooperation - guessing of the customer demand-->arbitrary order...

bullwhip effect : a distribution channel phenomenon in which forecasts yield supply chain inefficiencies. It refers to increasing swings in inventory in response to shifts in customer demand as you move further up the supply chain vendor managed inventory : A means of optimizing Supply Chain performance in which the manufacturer is responsible for maintaining the distributor's inventory levels. The manufacturer has access to the distributor's inventory data and is responsible for ge...

Cycle Time - ️️The time between two consecutive customer orders being completed Bottleneck - ️️The slowest workstation in the process Bottleneck's Processing Time = ? - ️️Cycle time for entire process When should a discount be offered? (Campus Club Cupcakes) - ️️When it helps our bottleneck increase output Legal Risks (Campus Club Cupcakes) - ️️Food safety, employee safety, taxes Financial Risks (Campus Club Cupcakes) - ️️Lose money, customers not picking ...

Bullwhip effect : Information (orders) going back through the supply chain are distorted and amplified How to improve the supply chain : Communication and cooperation, and shorten lead times (allows faster response) On-shoring : Local production near demand; reduces costs, length of lead times, and variability of lead times; easier to identify local needs; lead to the perception of keeping jobs local 2 | P a g e Supply Chain : A network of facilities that procure raw materials , ...

A characteristic that can be used to guide the design of service systems: - ️️Services cannot be inventoried A mathematical expression that relates inventory, throughput, and flow time: - ️️Little's Law A physical inventory taking technique in which inventory is counted on a frequent basis rather than once or twice a year: - ️️Cycle Counting A probability distribution often associated with interarrival times: - ️️Exponential distribution A process structure designed to make ...

RAC Devices Practice Exam Questions and Answers 100% CorrectRAC Devices Practice Exam Questions and Answers 100% CorrectRAC Devices Practice Exam Questions and Answers 100% CorrectRAC Devices Practice Exam Questions and Answers 100% Correctand Answers 100% Correct A medical device manufacturer is preparing a submission that requires a Declaration of Conformity with design control requirements. What type of submission is the manufacturer preparing to submit to FDA? 0 A PMA 1 A Special 510(k)...

OPMA 317 Final Exam Review Questions With Answers Rated 100% Correct.

Triple down bottom line - 1. social responsibilty 2. economic prosperity 3. evironmental stewardship Social Responsibility - fair and beeficial business practices towards labor, the community, and the region in which a firm coducts its business. economic prosperity - obligation for the firm to compensate its shareholders who provide capital through stock purchases and other finance tools via a competitive return on investment. Environmental stewardship - firms impact on the environme...

OPMA 317 Final Exam Review Questions With Answers 100% Correct OPMA 317 Final Exam Review Questions With Answers 100% Correct OPMA 317 Final Exam Review Questions With Answers 100% Correct OPMA 317 Final Exam Review Questions With Answers 100% Correct OPMA 317 Final Exam Review Questions With Answers 100% Correct vOPMA 317 Final Exam Review Questions With Answers 100% Correct OPMA 317 Final Exam Review Questions With Answers 100% Correct OPMA 317 Final Exam Review Questions With Answers 100% Cor...

bullwhip effect - ️️a distribution channel phenomenon in which forecasts yield supply chain inefficiencies. It refers to increasing swings in inventory in response to shifts in customer demand as you move further up the supply chain vendor managed inventory - ️️A means of optimizing Supply Chain performance in which the manufacturer is responsible for maintaining the distributor's inventory levels. The manufacturer has access to the distributor's inventory data and is responsible fo...