Ksu Mangt 421 Final Exam Minick Questions And Answers Rated A+

KSU MANGT 421 FINAL EXAM MINICK QUESTIONS AND ANSWERS RATED A+ The Objective of Aggregate Planning? - Answers The objective of aggregate planning is usually to meet forecast demand while minimizing cost over the planning period. What are the aggregate planning options - Answers Changing Inventory Levels. Vary workforce size by hiring or layoffs Varying production rates through overtime or idle time. Subcontracting using part time workers Influencing demand Back ordering during high demand periods counter seasonal product and service mixing A mixed strategy may be the best way to _____________________ - Answers Minimize Costs Chase Strategy - Answers match output rates to demand forecast for each period. Vary workforce levels or vary production rates. Minimize inventories and produce only what sales are. Favored by many service organizations. Level Strategy - Answers Daily production is uniform. Use inventory or idle times as buffer. Stable production leads to better quality and productivity. Bills of Material - Answers List of components, ingredients, and materials needed to make a product. Forward Scheduling - Answers Starts as soon as the requirements are known. Produces a feasible schedule though it may not meet due dates. Frequently results in build up of work in process inventory. Backward Scheduling - Answers Begins with the due date and schedules the final operation first. Schedule is produced by working backwards through the processes. Resources may not be available to accomplish the schedule. Finite Loading - Answers Assigns work up to the capacity of the workstation. All work gets done. Due dates may be pushed out. Infinite Loading - Answers Does not consider capacity. All due dates are met. Capacities may have to be adjusted. Sequencing Jobs - Answers Specifies the order in which jobs should be performed at work centers. Priority Rules - Answers Used to dispatch or sequence jobs. FCFS: First Come First Serve SPT: Shortest Processing Time EDD: Earliest Due Date LPT: Longest Processing Time Shortest Processing Time (SPT) - Answers Does well on minimizing flow time and number of jobs in the system. SPT moves long jobs to the end which may result in dissatisfied customers. First Come First Serve (FCFS) - Answers Does not do especially well (or poorly) on any criteria but is perceived as fair by customers. Earliest Due Date (EDD) - Answers Minimizes maximum lateness. Good production systems require that managers address three issues that are pervasive and fundamental to operations management: - Answers Eliminate Waste, Remove variability, and Improve throughput Eliminate Waste - Answers Waste is anything that does not add value from the customer point of view. Storage, Inspection, Delay, Waiting in queues, and defective products do not add value and are 100% waste. Ohno's Seven Wastes - Answers Overproduction, Queues, Transportation, Inventory, Motion, Over processing and Defective Products.