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ops final
ops final
121
Business
Undergraduate 3
12/10/2008

Additional Business Flashcards

 


 

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Term
charts
Definition
A project-scheduling technique in which activities are shown as a network of precedence relationships
Term
Gantt
Definition
A display using bars to show the duration of project activities and precedence relationships
Term
slack
Definition
The amount an activity can be delayed w/out delaying any of the activities that follow it
Term
critical path
Definition
The longest path through a CPM/PERT network telling the min time in which a project can be completed
Term
project control
Definition
Key Elements are Time Management, quality control, performance monitoring and communication
Term
earned value analysis (EVA)
Definition
a standard procedure for measuring a project’s progress, forecasting its completion time and cost, and measuring schedule and budget variation
Term
event
Definition
the completion or beginning of an activity in a project
Term
matrix organization
Definition
an organizational structure of project teams that includes members from various functional areas in the company
Term
organizational breakdown structure (OBS)
Definition
a chart that shows which org units are responsible for work items
Term
ordering costs
Definition
the costs of replenishing inventory
Term
ABC system
Definition
a method for classifying inventory items according to their dollar value to the firm based on the principle that only a few items account for the greatest dollar value of total inventory
Term
carrying costs
Definition
the cost of holding an item in inventory, including lost opportunity cost, storage, rent, cooling, lighting, interest on loans, etc
Term
continuous inventory system
Definition
Fixed-order-quantity; an order is placed for the same constant amount whenever the inventory on hand decreases to a certain level
Term
dependent demand
Definition
typically component parts or materials used in the process to produce a final product
Term
economic order quantity model
Definition
The objective is to determine the optimal tradeoff between inventory carrying costs and ordering costs that would min. total inventory costs
Term
independent demand
Definition
final or finished products whose demand is not a function of , or dependent on, internal production activity
Term
inventory
Definition
a stock of items kept by an org to meet internal or external demand
Term
in-process inventory
Definition
stocks of partially completed items kept between stages of a production process
Term
order cycle
Definition
the time between receipts of orders in an inventory system
Term
production quantity model
Definition
production lot-size model; an inventory system in which an order is received gradually and the inventory level is depleted at the same time it is being replenished
Term
quantity discounts
Definition
a pricing schedule in which lower prices are provided for specific (higher) order quantities
Term
reorder points
Definition
a level of inventory in stock at which a new order is placed
Term
safety stock
Definition
an amount added to the expected amount demanded during lead item as a hedge against stock-out
Term
service level
Definition
the probability that the amount of inventory on hand during the lead time is sufficient to meet expected demand- an inventory shortage occurring when demand exceeds the inventory in stock
Term
shortage costs
Definition
temporary or permanent loss of sales that will result when customer demand cannot be met
Term
Order Quantity for a Periodic Inventory System
Definition
: Fixed time period; an order is placed for a variable amount after specific regular intervals
Term
assemble to order
Definition
major subassemblies produced in advance of order and then configured to customer’s order
Term
backward schedule
Definition
scheduling backward from a due date to determine when to begin a job
Term
bill of material
Definition
a list of all materials, parts, and assemblies that make up a product, including quantities, parent component relationships, and order of assembly
Term
cumulative lead time
Definition
the total length of time required to manufacture a product; longest path through a product structure
Term
cycle counting
Definition
a method for auditing inventory accuracy that counts inventory and reconciles errors on a cyclical schedule rather than once a year
Term
explosion
Definition
the process of determining requirements for lower level items by multiplying the planned orders of parent items by quantity per assemble of component items
Term
efficiency
Definition
how well machine performs compared to standard output level
Term
expedite
Definition
speed up orders so that they are completed in less than normal lead time
Term
item master file
Definition
a file that contains inventory status and descriptive information of every item in inventory
Term
load leveling
Definition
the process of balancing under and over loads
Term
load percent
Definition
ratio of load to capacity
Term
lot sizing
Definition
determining the quantities in which items are usually made or purchased
Term
modular bill of materials
Definition
special bill of material used to plan the production of products with many optional features
Term
materials requirements planning
Definition
a computerized inventory control and production planning system for generating purchase orders and work orders of materials, components, and assemblies
Term
load profile
Definition
chart that compares released orders and planned orders with
capacity of facility
Term
capacity requirements planning
Definition
computerized system that projects the load from a given material plan onto the capacity of a system and identifies under and over loads
Term
enterprise resource planning
Definition
software that organizes and manages a company’s business processes by sharing info across functional areas
Term
customer relationship management (CRM)
Definition
software that plans and executes business processes that involve customer interaction, such as sales, marketing, fulfillment, and service
Term
supply chain management
Definition
software that plans and executes business processes related to supply chains
Term
product lifestyle management (PLM)
Definition
software that manages the product development process, product life cycles, and design collaboration with suppliers and customers
Term
netting
Definition
process of subtracting on hand quantity and schedule receipts from gross requirements to produce net requirements
Term
periodic order quantity
Definition
lot sizing technique that orders at set time intervals
Term
SOA
Definition
service oriented architecture; software that bundles together stand-alone services
Term
time fence
Definition
date specified by management beyond which no changes in the master schedule are allowed
Term
time phasing
Definition
the process of subtracting an item’s lead time from its due date to determine when an order should be released
Term
utilization
Definition
percentage of available working time that a worker spends working or a machine operating
Term
XML
Definition
helps ERP systems communicate over Net (extensible markup language)
Term
andons
Definition
call lights installed at workstations to notify management and other workers of a quality problem in production
Term
breakdown maintenence
Definition
a maintenance activity that involves repairs needed to make a failed machine operational
Term
external setup
Definition
setup activities that can be performed in advance while the machine is operating
Term
five whys
Definition
repeatedly asking “why?” until a root cause is identified
Term
general purpose machines
Definition
machines that perform basic functions such as turning, drilling and milling
Term
internal setup
Definition
setup activities that can be performed only when the machine is stopped
Term
Jidoka
Definition
authority given to the workers to stop the assembly line when quality problems are encountered
Term
just in time (JIT)
Definition
smoothing the flow of material to arrive just as it is needed; evolved into a system for eliminating waste
Term
Kaizen
Definition
a Japanese term for a system of continuous improvement
Term
Kanban
Definition
card corresponding to a standard quantity of production used in the pull system to authorize the production or withdrawal of good
Term
Kanban Square
Definition
a marked area designated to hold a certain amount of items; an empty square is the signal to produce more items
Term
lean consumption
Definition
minimizing customer time and effort in the consumption process
Term
lean production
Definition
both a philosophy and an integrated system of management that emphasizes the elimination of waste and the continuous improvement of operations
Term
lean six sigma
Definition
a combination of lean’s principles for elimination waste with Six Sigma’s reduction of variability
Term
manufacturing cell
Definition
a group of dissimilar machines brought together to manufacture a family of parts with similar shapes or processing requirements
Term
material kanban
Definition
a rectangular shaped Kanban used to order material in advance of a process
Term
muda
Definition
anything other than the minimum amount of equipment, materials, parts space, and time that are absolutely essential to add value to the product
Term
multifunctional workers
Definition
workers who have been trained to perform more than one job or function
Term
poka-yoke
Definition
any foolproof device or mechanism that prevents defects from occurring
Term
preventative maintenence
Definition
a system of daily maintenance, periodic inspection, and preventive repairs designed to reduce the probability of machine breakdown
Term
production kanban
Definition
card authorizing the production of a container of goods
Term
pull system
Definition
a production system in which items are manufactured only when called for by the users of those items
Term
push system
Definition
a production system in which items are manufactured according to a schedule prepared in advance
Term
signal kanban
Definition
a triangular kanban used as a reorder point to signal production at the previous workstation
Term
supplier kanban
Definition
a kanban that rotates between a factory and its supplier
Term
takt time
Definition
a cycle time of an operation paced to the rate of customer demand
Term
total productive maintenence
Definition
an approach to machine maintenance that combines the practice of preventive maintenance with the concepts of total quality and employer involvement
Term
under capacity scheduling
Definition
the allocation of extra time in a schedule for nonproductive tasks such as problem solving or maintenance
Term
uniform production levels
Definition
the result of smoothing production requirements on the final assembly line
Term
visual control
Definition
procedures and mechanisms for making problems visible
Term
withdrawal kanban
Definition
a card authorizing the withdrawal and movement of a container of goods.
Term
advanced planning and scheduling
Definition
a software system that uses intelligent analytical tools and techniques to develop realistic schedules
Term
dispatch list
Definition
a shop paper that specifies the sequence in which jobs should be processed
Term
drum-buffer-rope
Definition
a concept in theory of constraints where the drums sets the pace of production, buffer is placed in front of the bottleneck, and rope communicates changes
Term
finite scheduling
Definition
an approach to scheduling that loads jobs in priority order and dealys those jobs for which current capacity is exceeded
Term
flow time
Definition
the time that it takes for a job to “flow” through the system; that is, its completion time
Term
gantt chart
Definition
a bar chart that shows a job’s progress graphically or compares actual against planned performance
Term
genetic algorithms
Definition
a method that generates possible solutions based on genetic combinations of previous solutions
Term
infinate scheduling
Definition
an approach to scheduling that initially assumes infinite capacity and then manually “levels the load” of resources that have exceeded capacity
Term
input/output control (I/O)
Definition
a procedure for monitoring the input to output from a work center to regulate the flow of work through a system
Term
Johnson's rule
Definition
an algorithm for sequencing any number of jobs through two serial operations to minimize makespan
Term
load leveling
Definition
the process of smoothing out the work assigned across time and the available resources
Term
loading
Definition
process of assigning work to individual workers or machines
Term
makespan
Definition
the time that it takes for a group of jobs to be completed—that is, the completion time of the last job in a group
Term
manufacturing execution system (MES)
Definition
manufacturing software that monitors operations, collects data, and controls processes on the shop floor
Term
scheduling
Definition
the determination of when labor, equipment, and facilities are needed to produce a product or provide a service
Term
sequencing
Definition
the process of assigning priorities to jobs so that they are processed in a particular order
Term
shop floor control (SFC)
Definition
scheduling and monitoring day-to-day production in a job shop; also known as production control or production activity control
Term
tardiness
Definition
the difference between a job’s due date and its completion time for jobs completed after their due date
Term
theory of constraints
Definition
a finite scheduling approach that differentiates between bottleneck and nonbottleneck resources and between transfer batches and process batches
Term
work package
Definition
shop paperwork that travels with a job to specify what work needs to be done at a particular machine center and where the item should be routed next
Term
alternative workplace
Definition
a combination of nontraditional work locations, settings and practices that supplements or replaces the traditional office
Term
cross training
Definition
an employee learns more than one job in the organization
Term
empowerment
Definition
the authority and responsibility of the workers to alert management about job related problems
Term
ergonomics
Definition
the application of human sciences like anatomy, physiology, and psychology to the design of the work environment and jobs, and objects and equipment used in work; fitting the task to the person
Term
flextime
Definition
a work schedule in which fixed times of arrival and departure are replaced by a combination of fixed and variable times
Term
gainsharing
Definition
an incentive plan that includes employees in a common effort to achieve a company’s objectives in which they share in the gains
Term
horizontal job enlargement
Definition
the scope of a job that includes all tasks necessary to complete a product or process
Term
job
Definition
defined set of tasks that comprise the work performed by employees that contributes to the production of a product or delivery of a service
Term
job rotation
Definition
the horizontal movement between two or more jobs according to a plan or schedule
Term
learning curve
Definition
a graph that reflects the improvement rate of workers as a job is repeated and more units are produced
Term
motion study
Definition
the study of the individual human motions used in a task
Term
process flowchart
Definition
a flowchart that illustrates with symbols, the steps for a job or how several jobs fit together within the flow of the production process
Term
profit sharing
Definition
the company sets aside a portion of profits and distributes it among employees usually at the end of the fiscal year
Term
tasks
Definition
individual defined job activities that consist of one or more elements
Term
telecommuting
Definition
employees work electronically from whatever location they choose, either exclusively or some of the time
Term
vertical job enlargement
Definition
the degree of self- determination and control allowed workers over their own work; also referred to as job enrichment
Term
worker machine chart
Definition
a chart illustrates on a time scale the amount of time an operator and a machine are working or are idle in a job
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