Study Guide Essay

767 WordsFeb 24, 20154 Pages
BUS 140 Operations Management EXAM IS Closed-book and YOU SHOULD BRING • One SCANTRON sheet (FORM NO. 882-E) • #2 pencil and eraser • Calculator • One page handwritten study paper (double side ok) FORMAT • True / False, Multiple Choice o Answer on the SCANTRON sheet Exam 1 Study Guide CH 1-2 Covers lecture notes and textbook chapter 1-2. Key concepts 1. operations management • basic functions of business organization and their interrelation/overlap (importance of OM) 2. production goods versus delivering service 3. OM as a transforming process 4. key trends and issues in business 5. competitiveness 6. mission, goals, strategies, tactics 7. core competencies 8. environmental scanning: SWOT 9. order qualifiers versus order winners 10. productivity • definition, different types, how to compute, different measures 11. productivity growth [Page 65: Problem 4 part a, b and c] Prior to New Equipment Workforce: 5 workers Output: 80 carts/hr Labor: $10/hr Machine: $40/hr With New Equipment Workforce: 4 workers Output: 84 carts/hr Labor: $10/hr Machine: $50/hr a. Labor Productivity Before: (80 carts/hr) / (5 workers) = 16 carts per worker per hour After: (84 carts/hr) / (4 workers) = 21 carts per worker per hour 1 BUS 140 Operations Management b. Multifactor Productivity Before: (80 carts/hr) / ($10/hr × 5 + $40/hr) = 0.89 carts/$ After: (84 carts/hr) / ($10/hr × 4 + $50/hr) = 0.93 carts/$ c. Labor productivity increased by 31.25% (5/16). Multifactor productivity increased by 4.5% (.04/.89). Exam 1 Study Guide CH 3 Covers textbook chapter 3. • Typo on page 113: Weighted average, Ft should be Ft+1 Do not cover: • trend-adjusted exponential smoothing (page 92) • trend: linear trend equation • techniques for seasonality (page 93-98) • associative model (page 98-103) • how to construct a control chart (page 104) • tracking signal (page 105) Key concepts

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