Shared Flashcard Set

Details

GMS 401 (Ryerson)
Final Exam Part 2 Prep.
17
Business
Undergraduate 2
12/02/2016

Additional Business Flashcards

 


 

Cards

Term

What are the main elements of JIT? (5)

Put 1) as the most important

Definition

1) Balance system of consistent flows

2) No disruptions

3) No waste

4) Flexibility

5) Continuous improvement (Kaizen)

Term

What are Ohno's Seven Wastes? (7)

What are the 5Ss relating to waste? (5)

Definition

1) Overproduction                             2) Queues

3) Transportation                              4) Inventory

5) Motion                                         6) Overprocessing

7) Defects

1) Sort

2) Simplify

3) Shine

4) Standardize

5) Sustain  

Term

What is Throughput and how does it relate to Manufacturing cycle time?

What system does JIT use?

Definition

Throughput is the time required to move a product from receipt to delivery.

 

Manufacturing cycle time is the earlier time frame in which the entire production process is examined.

 

JIT uses a pull system

Term
What are some elements of JIT Layouts? (4)
Definition

1) Distance reduction - b/w workers

2) Increased flexibility - can be re-arranged

3) Impact on employees - cross trained employees

4) Reduced space and inventory

Term
What are some elements of JIT Inventory? (3)
Definition

1) Reduce inventory and variability

2) Reduced lot sizes

3) Reduced setup costs

Term

What are some elements of JIT Scheduling? (2)

What are the advantages of these two elements?

Definition

1) Level schedules - frequent small batches rather then big batches

2) Kanban - Signal system

 

Due to small batches the Kanban system can make sure that time and cost is reduced.

Term
What are the ways that JIT relates to good quality? (3)
Definition

1) Inventory costs are removed, quality easier to get

2) Easier to spot errors without inventory and fix them

3) No buffers, inventory doesn't hide bad quality

Term
What are some key elements that Toyota's Production System uses? (3)
Definition

1) Continuous improvement

2) Respect for people

3) Standard work practice

Term
What are the phases of project management? (3)
Definition

1) Planning

2) Scheduling

3) Controlling

Term
How and when does an outsourced project organization work best? (5)
Definition

1) Work is defined

2) Job is unique and unfamiliar

3) Complex tasks

4) Temporary but important

5) Cuts organizational lines

Term

What is a Gantt chart?

What tasks do they help to accomplish? (4)

Definition

It is a planning chart used to schedule resources and allocate time.

 

1) Activities are planned

2) Order of performance documented

3) Activity time estimates recorded

4) Project time developed

Term
What are some purposes that project scheduling serves? (4)
Definition

1) Relationship of activities

2) Shows precedence b/w activities

3) Encourages realistic time and cost measurements

4) Better use of resources

Term

What does PERT and CPM stand for and what is the difference between the two?

What steps do they both follow? (6)

Definition

PERT is Program Evaluation and Review Techniques

CPM is Critical Path Method

PERT employs 3 times estimates for an activity

CPM that uses one time factor per activity

 

1) Define project, prepare structure

2) Develop relationships b/w activities

3) Draw networks

4) Assign times/costs

5) Compute longest path (Critical path)

6) Use network to plan, schedule and control

 

Term
What is AON and AOA? What do they stand for?
Definition

AON is Arrow on node, it is a network diagram that uses nodes.

 

AON is Arrow on Arrow, it is a network diagram that uses arrows.

Term

What is a forward pass?

What is a backward pass?

What is the slack time?

What is total slack time?

Definition

Forward pass is a process that identifies the early start and early finish times

 

Backward pass is a process that identifies the late start and late finish times

 

The oppourtunity cost of taking the critical path rather then the best path. (Backward - Forward)

 

The total amount of slack not from the best path.

Term
What are the time estimates in PERT? (3)
Definition

1) Optimistic time

2) Pessimistic time

3) Most likely time

Term

What is Crashing?

How is it achieved?

Definition

Shortening an activity time in a network to reduce time.

Achieved by giving up additional costs in order to increase speed.

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