MBA 745 Final Exam || 100% Verified Solutions.
Value Stream correct answers all activities (value added, business value added, and non-value
added) required to meet a customer or stakeholder request.
Types of Value Streams correct answers Products
Services
Ideas
Sales
Resources
Projects
Define Product correct answers Something used from materials to the point of use by the
customer
Define Services correct answers Performing an act that solves the need of a customer (ex barber,
police, etc.)
Define Idea correct answers A business concept taken from genesis to implementation
Define Sales correct answers Initiating new business from marketing to closing the deal
Define Resources correct answers Equipment and people
Define Projects correct answers Projects from concept to implementation and support (ex lean
transformation project - from concept through implementation)
Concept to Improvement
Value Stream Manager correct answers The owner of a value stream which crosses functional
boundaries. They are a champion for future state design and implementation, creating flow and
leverage pull across all functions
Value Stream Map correct answers A visual representation of activities and flows of information,
materials, and services required to accomplish specific objectives.
Value Stream Flows correct answers > Materials, Products and Services >
< Funds and Returns <
< Information >
A current state value stream map must be... correct answers ...at the level of detail which
identifies the waste.
SIPOC correct answers Suppliers, Inputs, Process, Outputs, Customers
Check Sheet correct answers A tool for recording and organizing data to identify a problem
, Run Charts correct answers type 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.
4 rules of run chart correct answers STAR
- Shift
- Trend
- Astronomical
- Runs
Define Shift (Run Chart) correct answers When too much data is grouped above or below the
lines
Define Trend (Run Chart) correct answers When a consecutive group is going up or going down
Define Astronomical (Run Chart) correct answers Astronomical: When there is an outlier
Define Runs (Run Chart) correct answers (too few or too many) - number of times the median
line is crossed
Define Value Stream Map correct answers : a visual representation of activities and flows of
information, materials, and services required to accomplish specific objectives.
Define Value Stream Mapping correct 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.
Made to Stock correct answers Environment where products are finished before receipt of a
customer order (ex - grocery store)
Assemble/Finish to Order correct 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
Make to Order correct answers a) 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
Design/Engineer to Order correct answers a) An environment where customer specifications
require engineering design, specific customization or unique materials
Define Push correct answers A process that relies upon a forecast to create inventory in
anticipation of customer orders
o You push inventory into your supply chain
o When actual orders don't match forecast, there will be excess inventory or stock
Value Stream correct answers all activities (value added, business value added, and non-value
added) required to meet a customer or stakeholder request.
Types of Value Streams correct answers Products
Services
Ideas
Sales
Resources
Projects
Define Product correct answers Something used from materials to the point of use by the
customer
Define Services correct answers Performing an act that solves the need of a customer (ex barber,
police, etc.)
Define Idea correct answers A business concept taken from genesis to implementation
Define Sales correct answers Initiating new business from marketing to closing the deal
Define Resources correct answers Equipment and people
Define Projects correct answers Projects from concept to implementation and support (ex lean
transformation project - from concept through implementation)
Concept to Improvement
Value Stream Manager correct answers The owner of a value stream which crosses functional
boundaries. They are a champion for future state design and implementation, creating flow and
leverage pull across all functions
Value Stream Map correct answers A visual representation of activities and flows of information,
materials, and services required to accomplish specific objectives.
Value Stream Flows correct answers > Materials, Products and Services >
< Funds and Returns <
< Information >
A current state value stream map must be... correct answers ...at the level of detail which
identifies the waste.
SIPOC correct answers Suppliers, Inputs, Process, Outputs, Customers
Check Sheet correct answers A tool for recording and organizing data to identify a problem
, Run Charts correct answers type 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.
4 rules of run chart correct answers STAR
- Shift
- Trend
- Astronomical
- Runs
Define Shift (Run Chart) correct answers When too much data is grouped above or below the
lines
Define Trend (Run Chart) correct answers When a consecutive group is going up or going down
Define Astronomical (Run Chart) correct answers Astronomical: When there is an outlier
Define Runs (Run Chart) correct answers (too few or too many) - number of times the median
line is crossed
Define Value Stream Map correct answers : a visual representation of activities and flows of
information, materials, and services required to accomplish specific objectives.
Define Value Stream Mapping correct 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.
Made to Stock correct answers Environment where products are finished before receipt of a
customer order (ex - grocery store)
Assemble/Finish to Order correct 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
Make to Order correct answers a) 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
Design/Engineer to Order correct answers a) An environment where customer specifications
require engineering design, specific customization or unique materials
Define Push correct answers A process that relies upon a forecast to create inventory in
anticipation of customer orders
o You push inventory into your supply chain
o When actual orders don't match forecast, there will be excess inventory or stock
