Opma 317 - Study guides, Class notes & Summaries

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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 ...

Definition of Operations & Supply Chain Management - correct answer The design, operation, and improvement of the systems that deliver goods & services Operations - correct answer Manufacturing and service processes that transform inputs into outputs Supply Chain Management - correct answer Processes that move information and material to and from the operations processes where the transformation from inputs to outputs occurs The changing world of operations (4) - correct answer ...

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...

OPMA 317 FINAL EXAM WITH COMPLETE SOLUTIONS.

OPMA 317 – Midterm | questions and answers | Latest 2024

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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 , ...