MGSC 395 Exam 2 USC Gaffney Questions Fully Solved Guaranteed Solutions

Theory of Constraints - correct answers1) Identify the system's constraints 2) Decide how to exploit the system's constraints 3) Subordinate everything else to the above decision 4) Elevate the system's constraints 5) Do not allow inertia to cause a system constraint As ___________ decreases, Net Profit, Cash Flow, and Return on Investment increase. - correct answers inventory As ___________ increases, Net Profit, Cash Flow, and Return on Investment increase. - correct answers throughput As ________ decreases, Net profit, Cash Flow, and Return on Investment increase. - correct answersoperating expense Bottleneck - correct answers- has highest total time per unit processed or - has highest average utilization and total workload Drum-Buffer-Rope - correct answers- Based on Theory of Constraints - Regulates the flow of Work in Process at Bottleneck Drum - correct answers- Bottleneck schedule; sets the pace Buffer - correct answers- Inventory; protects the Bottleneck Rope - correct answers- Communication; releases material at a rate the Bottleneck can handle Line Balancing - correct answersThe assignment of work to stations in a line process to achieve the desired output with the fewest workstations possible 6 Steps to Line Balancing - correct answers1. Separate all the work into elements 2. Obtain time estimates for each work element 3. Identify all the immediate predecessors 4. Calculate the line's cycle time 5. Calculate the theoretical minimum # of work stations 6. Calculate Idle Time, Efficiency %, and Balance Delay % Line Balancing Decision Rules - correct answers1) longest work element 2) shortest work element 3) most followers 4) fewest followers Linear Programing - correct answersA method to allocate scarce resources among competing demands - optimization methodology - minimize or maximize Objective Function - correct answers- A math expression of whatever it is we want to maximize or minimize Decision Variable - correct answers- *The things we can control* and for which we're trying to find the optimal value Constraint - correct answers- Hard limits that impact our ability to choose something; The things we cannot control (limits, boundaries) Feasible Region - correct answers- The notation to describe all possible combinations of the decision variables Parameters - correct answers- Coefficients or constrains that are important to the model, we do not control and will not change when the solved (must be known) Non Negativity - correct answers- means that decision variables must be zero or positive Linearity - correct answers- means our equations will be simple and non-complex 3 Steps to Linear Programming - correct answers1. Define the Decision Variables 2. Write out the Objective Function 3. Write out the Constraints Lean Systems - correct answers... 7 Wastes - correct answers- Transport - Inventory - Motion - Waiting - Overproduction - Overprocessing - Defects (TIM WOOD) House of Toyota - correct answers- Stable Foundation - Pillars - JIT (Just in Time) & JIDOKA (build in quality) - Roof - Best quality, cost, safety - Inside House - People, Continuous improvement Takt Time - correct answers- matching rate of production to rate of demand (drum beat) = Available Time / Customer Demand Kanban - correct answers- A "signal" system that helps control the flow of production (limits production) Poka-Yoke - correct answers- Quality at the Source (Mistake Proofing) - Control vs Warning - Jidoka pillar 5S - correct answers- Workplace organization and standardization - Sort, Set (in order), Shine, Standardize, Sustain (makes finding a problem quicker and easier) Lean Six Sigma - correct answers- Lean - creates flow - Six Sigma - eliminates variation Six Sigma Roadmap - correct answers- Define - Measure - Analyze - Improve - Control (DMAIC) Causal Relationship - correct answersEx: sales of an item can be shown to increase, because of an increase in advertising spending Project Management - correct answers- An interrelated *set of activities* with a definite *starting and ending point*, which results in a *unique outcome* from a *specific allocation of resources* Main Goals of Projects - correct answers- complete project on time - not exceed budget - meet specifications Measure of Project Success - correct answers- Performance - Cost - Time - Scope (PCTS) 5 Steps to Plan a Project - correct answers1. Define the work breakdown structure 2. Diagram network 3. Develop schedule 4. Analyze cost-time trade offs 5. Assess Risks Work Breakdown Structure (WBS) - correct answers- all the work that has to be completed Activity - correct answers- the smallest unit of work that will consume time and resources Critical Path - correct answers- the longest path through a project network Activity Slack - correct answersThe maximum length of time that an activity can be delayed without delaying entire project = LS - ES or LF - EF