Matching Supply with Demand: An Introduction to Operations Management With Complete Solutions 2024

Matching Supply with Demand: An Introduction to Operations Management With Complete Solutions 2024Matching Supply with Demand: An Introduction to Operations Management With Complete Solutions 2024 Activity Times - correct answer-The process steps and their durations. Critical Path - correct answer-Composed of all those activities that - if delayed - would lead to a delay in the overall completion time of the project, or - in this case - the time the patient has completed his or her stay in the radiology unit. Resources - correct answer-Labor and capital Flow Unit - correct answer-The type of product or service the supply process is dealing with. Inventory - correct answer-The number of flow units contained within the process. Work-in-Process (WIP) - correct answer-Inventory in a production setting. Flow Time - correct answer-The time it takes a flow unit to get through the process. Flow Rate (Throughput Rate) - correct answer-The rate at which the process is delivering output. Capacity - correct answer-The maximum rate at which the process can generate supply. Capacity-Constrained - correct answer-There is sufficient demand that you could sell any additional output you make. Little's Law - correct answer-Average Inventory = Average Flow Rate X Average Flow Time Inventory Turns - correct answer-How often a company is able to turn over its inventory. Pipeline Inventory - correct answer-The minimum amount of inventory that is required to operate the process. Cycle Inventory - correct answer-The inventory that results from receiving (producing) several flow units in one order (batch) that are then used over a time period of no further inflow of flow units. Inventory, Flow Time, Flow Rate - correct answer-The three fundamental performance measures of a process. Process Capacity - correct answer-The maximum flow rate that can be achieved in the process. Process Flow Diagram - correct answer-Maps resources and inventory and shows graphically how the flow unit travels through the process in its transformation from input to output. Bottleneck - correct answer-The resource with the lowest capacity in the process. Demand-Constrained - correct answer-A process for which the flow rate is limited by demand. Supply-Constrained - correct answer-A process for which the flow rate is limited by either capacity or the availability of input. Utilization - correct answer-Flow Rate / Capacity Implied Utilization - correct answer-Demand / Capacity Workload - correct answer-The request for capacity created by demand. Processing Time - correct answer-The duration that a flow unit has to spend at a resource, not including any waiting time; also referred to as activity time or service time. Cycle Time - correct answer-The time that passes between two consecutive flow units leaving a process. = 1/Flow Rate Worker-Paced Line - correct answer-A process in which a worker moves the flow unit to the next resource or buffer when he or she has completed processing it; in contrast to a machine-paced line, where the flow unit moves based on a conveyer belt. Labor Content - correct answer-The amount of labor that is spent on a flow unit from the beginning to the end of the process. In a purely manual process, it is the sum of all the activity times. Average Labor Utilization - correct answer-The average utilization across resources. Idle Time - correct answer-The time a resource is not processing a flow unit. Line Balancing - correct answer-The process of evenly distributing work across the resources of a process. Tasks - correct answer-The atomic pieces of work that together constitute activities.