Determine the expected payoff of each alternative and choose the alternative that has the best expected payoff
Expected monetary Evaluation criterion
What are the three primary strategies?
- Leading
- Following
- tracking
Give only ONE example of decision process
- identify the problem
- specify the objectives and criteria for solution
- develop a suitable alternative
- analyze and compare alternative
- select the best alternative
- implement the solution
- monitor to see that the desired result is achieved
What are the 3 Decision Environment?
certainty
risk
uncertainty
Give the formula of Expected Value of Perfect
Expected Value of Perfect Information (EVPI) = Expected Payoff Under Certainty – Expected Payoff Under Risk
What is the application of scientific knowledge to the development and improvement of goods and services?
Technology
What is the machinery that has sensing and control devices that enable it to operate automatically?
Automation
What is the science and use of computers and other electronic equipment to: store, process, and send information?
Information Technology
What is an arrangement of different aspects to maintain the management’s appropriate manner as to achieve desired production results?
Facility layout
It is the deciding on the way the production of goods or services will be organized?
Process selection
What is used to achieve a smooth and rapid flow of large volumes of goods through a system?
Product layout
What is designed to process items or provide services that involve a variety of processing requirements?
Process layout
What are used when size, fragility, cost, or other factors make it undesirable or impractical to move a product through a system?
Fixed Position Layouts
Give the two key questions for process selection.
- How much variety will the process need to be able to handle?
- How much volume will the process need to be able to handle?
Give 3 reasons for redesigning of layout
- Inefficient operations
- Accidents or Safety Hazard
- Changes in design of product or services
- Introduction of new products and services
- Changes in volume of output
- Changes in environmental or legal requirements
- Changes in methods or equipment
- Changes in morale problems
one advantage of product layouts
- A high rate of output
- Low unit cost due to high volume
- Labor specialization, which reduces training costs and time, and results in a wide span of supervision
- Low material handling cost per unit
- A high utilization of labor and equipment
- The establishment of routing and scheduling in the initial design of the system
- Fairly routine accounting, purchasing, and inventory control
One advantage of process layouts
- The systems can handle a variety of processing requirements
- The systems are not particularly vulnerable to equipment failure
- General purpose equipment is often less costly than the specialized equipment used in product layouts and is easier and less costly to maintain
- Is it possible to use individual incentive systems
Give two basic procedure in method analysis
- Identify the operation to be studied, and gather all pertinent facts about tools, equipment, materials, and so on.
- For existing jobs, discuss the job with the operator and supervisor to get their input.
- Study and document the present method of an existing job using process charts. For new jobs, develop charts based on information about the activities involved.
- Analyze the job.
FILL IN THE BLANKS
___(1)____ study is the systematic study of ___2____ motions used to perform operation
___3___ ____4____ is concerned with determining the length of __5__ it should take to complete a job
- Motion
- Human
- Work
- Measurement
- Time
- A study that uses permanent record of motion study on films
- Its role is to provide a plan for the operations to make sure that it uses the provided resources at its best
- It uses time devices to measure the time required for the work’s completion
- What is the formula for sample size?
- What is the formula for observed time
- What is “a” in the formula for sample size?
Micromotion Study Operations Strategy Time Study n=(ZS/(ax ̄ )) OT= (∑▒X_1 )/n Allowance Percentage
GIVE 2 plant manufacturing strategy
- Process plant strategy
- General purpose plant strategy
- Product plant strategy
- Market area plan strategy
Give 4 factors relating to foreign locations
- GOVERNMENT
- CULTURAL DIFFERENCES
- CUSTOMER PREFERENCES
- LABOR
- RESOURCES
- FINANCIAL
- TECHNOLOGICAL
- MARKET
- SAFETY
Give 2 factors in choosing site locations
LAND
TRANSPORTATION
ENVIRONMENTAL/LEGAL
Give 2 service and retail factors
- Customer service and security
- Good transportation/Parking facility
