Download OPMA 3306 – Exam 1 Review

OPMA 3306 – Final Exam Review
Approximately 40 Questions, Multiple Choice. Paper exam in our normal classroom.
Understand all the homework problems and class examples.
Review the concepts presented in the chapter slides and lecture notes.
Final Exam Materials that you should bring
Standard normal table
Quality control table
Scantron
Graph paper for linear programming (optional)
(4) four by six inch note cards
Slides 1 – Competing with Operations
- Operations management scope and ideas
- Basic overall concepts and ideas
- What can I do with this major
- Supply chain management
o Core and support processes (basic ideas)
o Up and downstream
- Processes
- Example companies/organizations discussed in class
- Productivity ideas and calculations (labor and MFP)
- Mission, Goals, Strategy, Tactics
- Example organizational strategies
- Types of operations strategies (basic ideas)
- Competitive priorities
- Order winners and order qualifiers
Linear Programming
Basic ideas. Solving maximization and minimization problems using the graphical method.
Interpreting output from Excel. The feasible solution space and edge points.
Slack and surplus concepts and calculations and interpretation.
Slides 13 – Forecasting
Understand the basic overall concepts
Demand Patterns
Idea of judgment methods
Associative method; linear regression (pairs of observations)
Time series methods;
- patterns
- techniques (naïve, SMA, WMA, exponential smoothing)
techniques (trend adjusted exponential smoothing, multiplicative seasonal method)
MAD, MSE
Linear Regression
- coefficient of determination, r squared
- correlation coefficient, r
- the sample slope
- interpreting output
- making estimates and error
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Slides DM – Decision Making
Break-Even analysis
Preference matrix
Decision Making under certainty
Decision Making under uncertainty
- Maximin
- Maximax
- Laplace
Decision Making under risk
Expected Value
Decision Trees
Monte Carlo Simulation
Slides 06 – Capacity Planning
- Basic overall concepts and ideas
- Utilization, cushion, bottlenecks
- Concepts associated with cushion
- Cost-volume analysis
- Economies and diseconomies of scale
- Outsourcing
- Capacity timing and sizing
o Expansionist and wait-and-see strategies
Slides 03 – Process Strategy
- Basic ideas about processes
- Process structure and layout ideas
o Service process structuring
o Manufacturing process structuring
- Closeness matrix and developing a block plan, wd scoring
- Customer involvement as it relates to process strategy
- Resource flexibility as it relates to process strategy
o Break-even analysis
- Capital intensity as it relates to process strategy
- Process reengineering and process improvement
Slides 04 – Process Analysis
- Basic ideas about process analysis
- Concepts regarding simplification, benchmarking, IT automation, continuous
improvement, flow charts, process charts, cause-and-effect diagrams, scatter diagrams
- Develop checklists, histograms, and Pareto charts
- Develop and understand relative frequency (f), relative percentage (p), and cumulative
percentage distributions (P)
Slides 14 – Planning & Scheduling
- Basic ideas about planning and scheduling
- Planning strategies
- Ideas and concepts regarding chase and level plans
- Developing chase and level plans
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Slides 02 – Project Management
Understand the basic ideas and concepts discussed. Develop a simple network diagram and
interpret.
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Project
Activity
Network diagram
Precedence relationship
Critical path
Slack
Network diagrams with fixed activity times given.
Basic ideas about project management, key metrics, success criteria, considerations.
Slides 12 – Inventory Management
Basic ideas. Inventory turns, weeks of supply, ABC analysis.
Continuous Review Q System, ideas and details. Computations.
Total costs, EOQ, ROP under various scenarios;
L=0, L>0.
Constant demand, variable demand~N
Safety stock.
Holding and ordering costs.
Slides 15 – Resource Planning
Basic ideas and concepts.
Developing a master production schedule.
FOQ, L4L, and POQ rules.
Working with a bill of materials.
Slides 05 – Quality And Performance
Basic ideas about Quality.
Different types of costs.
TQM basic ideas.
Develop x-bar and R control charts, understand each.
In control and out of control processes.
Random and assignable variation
Process capability, Cp and Cpk, Calculations and Interpretations.
Supply Chain Management
Basic ideas
Importance of purchasing/procurement
Up and downstream
Use of information technology
Bullwhip effect
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