Everything else

Question 1

What are the phases of the project life cycle?

Answer 1

• Concept
• Feasability analysis or study - evaluate costs, benefits and risk
• Planning
• Execution
• Termination

Question 2

What does JIT help companies with?

Answer 2

• Gives companies new ways of making revenue
• Reduces Waste

Question 3

What is CRP(Capacity requirment Planning)?

Answer 3

• CRP checks to see if available capacity is sufficient to complete the orders scheduled in a particular work center during a specific time period.

Question 4

What is MRP?

Answer 4

MRP are to determine the quantity and timing of material requirements and keep schedule priorities updated and valid.

Question 5

What is a ERP?

Answer 5

Large, sophisticated software systems used for identifying and planning the enterprise-wide resources needed to coordinate all activities involved in producing and delivering products.

Question 6

Finite vs Infinite loading

Answer 6

• Finite Loading - putting no more work into a factory than the factory can be expected to execute.
• Infinite Loading - no regard for capacity

Question 7

Backward vs Forward Scheduling

Answer 7

• Backward - Planning strategy where orders are scheduled based on customer-preferred delivery dates and times.
• Forward - allows business to plan and make deliveries at the earliest time by allocating tasks when the required resources are available, and completing them as quickly as possible.