ARE112 Exam
Set Questions With Reviewed
Correct Detailed Answers
New Update!!
1. What is the function of the colored tape? - ANSWER tagging all the
batches according to priority.
red, yellow, green
2. What is a significant aspect of Ralph and the head treatment process -
ANSWER -He wanted to keep accurate record of the actual times for each
heat of parts in the furnace
- It seems there was nothing to do while waiting for the
bottleneck machine to finish the batch. Therefore, in keeping with the notion that
everybody
needs to stay busy, workers were at other areas between batches. Alex decides to
dedicate a
foreman at each location all the time. Then one of those dedicated foreman, the
night
foreman, discovers a way to process more parts by mixing and matching orders by
priority,
increasing efficiency by ten percent. Finally, one process being sent through a
bottleneck
,could be accomplished through another older way and therefore free up time on
the
bottleneck.
3. How did the new bottlenecks start? - ANSWER Now that the new
priority system is in place for all parts going through the bottlenecks,
inventory is decreasing. That's a good thing right? But lower inventory revealed
more bottlenecks. This intrigues Jonah so he's coming to take a look.
4. How does Stacey's and Jonah's approach differ? Any relation to the articles
we read? - ANSWER Stacey says there is a new bottleneck, Jonah says
"There aren't any new bottlenecks", says Jonah. What actually has happened is a
result of
some old thinking. Working non-bottlenecks to maximum capacity on bottleneck
parts has
caused the problem. All parts are stacked up in front of the bottlenecks and
others are
awaiting non-bottleneck parts for final assembly. There needs to be balance.
5. How does Alex and kids look at the problem? - ANSWER Keep the kid
at the front of the line from walking faster than Herbie. If we can do that,
everybody will stay together. When the boy in the front goes too fast,
Herbie tells him to wait or slow down.
6. What is the four weeks about? - ANSWER Shortening the lead time
with customers by shortening the time that the product gets delivered to
them can help the company in the marketplace. Alex suggests telling
customers the average will only be 4 weeks.
, 7. What is the improvement thing about? - ANSWER Bob has an
epiphany and jumps to the board and talks about Lou's sentence "Process
of ongoing improvement", he says instead of focusing on improvement, the
more important thing is the "process"
8. Mother city - ANSWER Our anthropologist friends could answer
questions
about why organizations exist with the origins of the
"mother city."
-first city in the new world, near Peru
-example where it forced us to think where orgs were cooperating rather than
competing
9. Williamson interview:
Transaction costs - ANSWER are expenses incurred when buying or selling
securities. Transaction costs include brokers' commissions and spreads
10. Williamson interview:
Cost of uncertainty - ANSWER Uncertainty on the other hand exists when
outcomes are out there to which no probability can be reasonably assigned.
11. Williamson interview:
Bounded rationality - ANSWER Is the idea that in decision-making, rationality
of individuals is limited by the information they have, the cognitive limitations of
their minds, and the finite amount of time they have to make a decision.
Set Questions With Reviewed
Correct Detailed Answers
New Update!!
1. What is the function of the colored tape? - ANSWER tagging all the
batches according to priority.
red, yellow, green
2. What is a significant aspect of Ralph and the head treatment process -
ANSWER -He wanted to keep accurate record of the actual times for each
heat of parts in the furnace
- It seems there was nothing to do while waiting for the
bottleneck machine to finish the batch. Therefore, in keeping with the notion that
everybody
needs to stay busy, workers were at other areas between batches. Alex decides to
dedicate a
foreman at each location all the time. Then one of those dedicated foreman, the
night
foreman, discovers a way to process more parts by mixing and matching orders by
priority,
increasing efficiency by ten percent. Finally, one process being sent through a
bottleneck
,could be accomplished through another older way and therefore free up time on
the
bottleneck.
3. How did the new bottlenecks start? - ANSWER Now that the new
priority system is in place for all parts going through the bottlenecks,
inventory is decreasing. That's a good thing right? But lower inventory revealed
more bottlenecks. This intrigues Jonah so he's coming to take a look.
4. How does Stacey's and Jonah's approach differ? Any relation to the articles
we read? - ANSWER Stacey says there is a new bottleneck, Jonah says
"There aren't any new bottlenecks", says Jonah. What actually has happened is a
result of
some old thinking. Working non-bottlenecks to maximum capacity on bottleneck
parts has
caused the problem. All parts are stacked up in front of the bottlenecks and
others are
awaiting non-bottleneck parts for final assembly. There needs to be balance.
5. How does Alex and kids look at the problem? - ANSWER Keep the kid
at the front of the line from walking faster than Herbie. If we can do that,
everybody will stay together. When the boy in the front goes too fast,
Herbie tells him to wait or slow down.
6. What is the four weeks about? - ANSWER Shortening the lead time
with customers by shortening the time that the product gets delivered to
them can help the company in the marketplace. Alex suggests telling
customers the average will only be 4 weeks.
, 7. What is the improvement thing about? - ANSWER Bob has an
epiphany and jumps to the board and talks about Lou's sentence "Process
of ongoing improvement", he says instead of focusing on improvement, the
more important thing is the "process"
8. Mother city - ANSWER Our anthropologist friends could answer
questions
about why organizations exist with the origins of the
"mother city."
-first city in the new world, near Peru
-example where it forced us to think where orgs were cooperating rather than
competing
9. Williamson interview:
Transaction costs - ANSWER are expenses incurred when buying or selling
securities. Transaction costs include brokers' commissions and spreads
10. Williamson interview:
Cost of uncertainty - ANSWER Uncertainty on the other hand exists when
outcomes are out there to which no probability can be reasonably assigned.
11. Williamson interview:
Bounded rationality - ANSWER Is the idea that in decision-making, rationality
of individuals is limited by the information they have, the cognitive limitations of
their minds, and the finite amount of time they have to make a decision.
