QM 300 Midterm Part I 1. Project management: a) Is the planning‚ scheduling and controlling of project tasks to meet objectives. b) Is used primarily in construction and public works. c) Requires less communication than ongoing process management. d) Focuses on well-understood‚ unambiguous tasks and relationships. Using the following project‚ with activity times estimate in days and a critical path of CH-J-K‚ to answer the next 3 questions: Activity A B C D E F G H I J K Immediate Predecessor
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100 (18/101) = 17.82% | | April | 96 | 101 | 5 | 100 (5/96) = 5.21% | | May | 89 | 96 | 7 | 100 (7/89) = 7.87% | | June | 108 | 89 | 19 | 100 (19/108) = 17.59% | | | | | | 49 | | | 48.49% | | Naive outperforms management. 4.27 | Winter | Spring | Summer | Fall | 2004 | 1‚400 | 1‚500 | 1‚000 | 600 | 2005 | 1‚200 | 1‚400 | 2‚100 | 750 | 2006 | 1‚000 | 1‚600 | 2‚000 | 650 | 2007 | 900 | 1‚500 | 1‚900 | 500 | | 4‚500 | 6‚000 | 7‚000 | 2
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In order for Peter to achieve his objectives for purchasing and inventory management we must closely study the issues of inventory level review‚ holding costs and safety stock. Holding cost is money spent to keep and maintain a stock of goods in storage. It is largely recognised that a healthy holding stock figure is between 25% and 33.33% of material costs. Peter has holding costs of 21% which is just touching on a fifth of Danker’s materials cost. Now we could take this to mean that Peter therefore
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the health and safety of ourselves and others. The law then forces the employer to provide a safe work place for you and other workers. He must ensure that the health and safety of his staff and customers is not placed at risk and by how business operations are conducted. He must than encourage employees to work for a healthier and safer environment. This is achieved by 1. Open communication between both parties. 2. Attending team meetings 3. Training and induction sessions 4. Reading
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A-1 Role of Operations Management a) Operations management refers to all levels of an organisation and how best to efficiently convene‚ fund‚ maintain and maximise its services and/or operations‚ both internal and external. The core goal/objective of operations management it to maximise outputs while reducing and minimising the inputs required to achieve the desired results. Whereas Production management refers to how to best manage‚ organise and control either a product or service that an organisation
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predictable flow‚ highest volume‚ and lowest variety. Example: water processing‚ petrochemical refineries Professional Services High contact processes‚ high customer contact and involvement‚ high level of customization‚ often people based. Example: Management consultants‚ doctors‚ lawyers Services Shops Mix of front and back-office services‚ differing levels of volume and variety. Example: Banks‚ hotels‚ schools‚ restaurants Mass Services High amount of throughput‚ limited customer contact‚ little
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ARTICLE CRITIQUE The influence of work-cells and facility layout on the manufacturing efficiency‚ Journal of Facilities Management. 1. Introduction This purpose of this paper is to critique the article ‘The influence of work-cells and facility layout on the manufacturing efficiency’ written by SeyedMahmoud Aghazadeh‚ Saeedreza Hafeznezami‚ Lotfollah Najjar and Ziaul Huq. This paper will first summaries the article. Secondly‚ it will briefly critique the article. Thirdly is the conclusion
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COST DEFINITIONS Fixed Cost – expenses that remain constant over a wide range of output volumes Variable Costs – expenses that vary proportionately with changes in output. Sunk Costs – expenses already incurred that have no salvage value Opportunity Costs – profits lost when one alternative is chosen over another that would have provided greater financial benefits. Avoidable Costs – expenses resulting from poor productivity incurred if an investment is not made. Out-of-Pocket Costs – actual
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equipment during an hour is 500 units and its best operating level is at a rate of 400 units per hour‚ which of the following is the capacity utilization rate? → | 1.25 | 11. award: 0 out of 30 points Compared with a service operation‚ a manufacturing operation’s capacity is which of the following? → | Demand can be smoothed by inventory policies | ------------------------------------------------- Top of Form 13. award: 30 out of 30 points The capacity
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should consider a centralized materials management system to study‚ calculate and make the decisions on what will be bought for each of the 4 dealerships instead of allowing each dealer to do this on their own. By buying their parts in a higher volume (one central order for all four dealerships) they can negotiate a better price. This would facilitate greater leveraging with suppliers for consistent quality-control. ❖ An EDI inventory management system that interconnects the main shop
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