Save
Ops
Save
Share
Learn
Content
Leaderboard
Share
Learn
Created by
Iris Papadogiannaki
Visit profile
Cards (156)
What is the focus of process management in operations management?
Process analysis
and
capacity management
View source
What does process analysis involve?
Flow time
, process capacity,
bottleneck
,
resource utilization
View source
What is congestion analysis used for?
To analyze
queue formation
due to demand
View source
What does Little's Law state?
L =
R
×
T
View source
What is the purpose of operations strategy?
To align
competitive strategy
with operations
View source
What are the components of operations management?
Systematic design
Direction and control of processes
Transformation of
inputs
into
outputs
View source
What is flow time in process management?
The minimum time for a
unit
to pass
View source
How is resource capacity defined?
Output
per
time unit
at maximum
View source
What is a bottleneck in a process?
The resource with the smallest
capacity
View source
How is utilization calculated?
Utilization =
Flow rate
/
Capacity
View source
What can be done to reduce flow time?
Decrease
work content
and reduce
wait time
View source
How can process capacity be increased?
Decrease the
unit load
of
bottleneck resources
View source
What is the purpose of build-up diagrams?
To visualize
queue formation
due to
demand
View source
What does queueing theory analyze?
Random
inter-arrival
times and service
workflow
View source
What is the formula for waiting time in queueing theory?
Waiting time =
Processing time
×
Utilization
View source
How does waiting time change with utilization?
Waiting time
increases
with higher utilization
View source
What happens to waiting time as utilization approaches 100%?
Waiting
time
increases
dramatically
View source
What are levers to reduce queues?
Increase
service capacity
and reduce
variability
View source
What does Little's Law apply to?
Any
stationary
processes
View source
What is the critical ratio in inventory management?
Optimal
service level
based on costs
View source
What are the two types of inventory-related costs?
Carrying cost
and
shortage cost
View source
What is the purpose of inventory management?
To determine when and how much to
order
View source
What is the newsvendor model used for?
Short life cycle products with
uncertain demand
View source
What does the Economic Order Quantity (EOQ) formula calculate?
Optimal order quantity for
inventory
View source
What is the reordering point (ROP) in inventory management?
Inventory level
to trigger a new order
View source
What is the carrying cost in inventory management?
Cost of
holding inventory
over
time
View source
What is the shortage cost in inventory management?
Cost
incurred
from not having inventory
View source
Why do we hold inventory?
To manage
demand uncertainty
and
production buffers
View source
What is the formula for calculating the optimal stock quantity in the newsvendor model?
F(Q) =
Cu
/ (Cu +
Co
)
View source
What is the service level (SL) in inventory management?
The
probability
of
satisfying
all
demand
View source
What is the expected mismatch cost in inventory management?
Cost of
leftover inventory
and lost sales
View source
What are the key components of inventory management?
Inventory-related costs
:
carrying
and
shortage costs
Types of inventory
Ordering decisions: when and how much to order
View source
What are the performance objectives of operations strategy?
Cost
Quality
Time
Flexibility
View source
What are the types of process structures?
Continuous Flow
Line Flow
Batch
Project
Job Shop
View source
What are the trade-offs in aligning strategy and operations?
No best way to serve all markets
Best
production methods
evolve over time
Value improves with
process competencies
View source
What is the product-process matrix?
Aligns
product variety
with
process flexibility
Helps in process design decisions
View source
What are the key factors in inventory management decisions?
Demand uncertainty
Production process buffers
Supply economies of scale
View source
What is the significance of the Economic Order Quantity (EOQ)?
Minimizes
total inventory costs
Balances
ordering
and
holding costs
View source
What is the role of safety stock in inventory management?
Acts as a
buffer
against demand
variability
Helps maintain
service levels
View source
What is the expected mismatch cost formula?
Expected mismatch cost
= Cu ×
Exp. lost sales
+ Co ×
Exp. leftover inventory
View source
See all 156 cards
See similar decks
2.2.3 Blood
AQA GCSE Biology > Unit 2: Organisation > 2.2 Animal Tissues, Organs, and Organ Systems
102 cards
1.1.5 Microscopy
AQA GCSE Biology > Unit 1: Cell Biology > 1.1 Cell Structure
43 cards
2.5 Writing Critical Essays
AQA GCSE English Literature > Paper 1: Shakespeare and the 19th-century novel > 2. The 19th-century Novel
108 cards
2.1 Principles of Organisation
GCSE Biology > Unit 2: Organisation
73 cards
1.3.1 Key Beliefs and Teachings
WJEC GCSE Religious Studies > Unit 1: Religious and Non-Religious Beliefs, Teachings, and Practices > 1.3 World Religions (Choose one: Buddhism, Hinduism, Islam, Judaism, Sikhism)
59 cards
4.1 The role of education in society
AQA GCSE Sociology > 4. Education
86 cards
3.4 Jobs, career choices and ambitions
AQA GCSE Spanish > Theme 3: Communication and the world around us
87 cards
1.1.3 Cell Specialization
GCSE Biology > Unit 1: Cell Biology > 1.1 Cell Structure
48 cards
1.5.4 The Economy and Business
Edexcel GCSE Business > Theme 1: Investigating Small Business > 1.5 Understanding External Influences on Business
46 cards
1.1 Structure and Calculation
GCSE Mathematics > 1. Number
33 cards
2.1.1 Eukaryotic cells
OCR A-Level Biology > Module 2: Foundations in biology > 2.1 Cell structure
108 cards
9.3.2 Conservation
Edexcel GCSE Biology > Topic 9: Ecosystems and Material Cycles > 9.3 Human Impact on the Environment
61 cards
1.2 Carbohydrates
AQA A-Level Biology > 1. Biological Molecules
66 cards
4.2 Vietnam War
AQA GCSE History > BD Conflict and tension in Asia, 1950–1975
128 cards
1.1.3 Describing Energy Changes in a System
AQA GCSE Physics > Unit 1: Energy > 1.1 Energy Stores and Systems
40 cards
2.4 The marketing mix
OCR GCSE Business Studies > 2. Marketing
58 cards
3.4. Wildfires
AQA A-Level Geography > Component 1: Physical Geography > 3. Hazards
49 cards
1.1.2 Structures of Memory
AQA GCSE Psychology > Unit 1: Cognition and Behaviour > 1.1 Memory
53 cards
1.1 The purpose and nature of businesses
AQA GCSE Business > 1. Business in the real world
50 cards
2.2 Types of Long-Term Memory
AQA A-Level Psychology > 2. Memory
37 cards
3.5.1 Traditional Drug Sources
AQA GCSE Biology > Unit 3: Infection and Response > 3.5 Discovery and Development of Drugs
31 cards