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    Applied Math Questions.

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    Cindhy Chamorro
    The document discusses various operations management concepts including capacity planning strategies, forecasting applications in different business fields, inventory management terms like EOQ and EPQ, inputs and steps of the MRP system, aggregate planning approaches, and key aspects of production planning like the bill of materials and product life cycle strategies and issues. It provides definitions and explanations of these fundamental operations management topics at a high level across multiple sections.

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    Applied Math Questions.

    Uploaded by

    Cindhy Chamorro
    12 views3 pages
    The document discusses various operations management concepts including capacity planning strategies, forecasting applications in different business fields, inventory management terms like EOQ and EPQ, inputs and steps of the MRP system, aggregate planning approaches, and key aspects of production planning like the bill of materials and product life cycle strategies and issues. It provides definitions and explanations of these fundamental operations management topics at a high level across multiple sections.

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    The document discusses various operations management concepts including capacity planning strategies, forecasting applications in different business fields, inventory management terms like EOQ and EPQ, inputs and steps of the MRP system, aggregate planning approaches, and key aspects of production planning like the bill of materials and product life cycle strategies and issues. It provides definitions and explanations of these fundamental operations management topics at a high level across multiple sections.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    12 views3 pages

    Applied Math Questions.

    Uploaded by

    Cindhy Chamorro
    The document discusses various operations management concepts including capacity planning strategies, forecasting applications in different business fields, inventory management terms like EOQ and EPQ, inputs and steps of the MRP system, aggregate planning approaches, and key aspects of production planning like the bill of materials and product life cycle strategies and issues. It provides definitions and explanations of these fundamental operations management topics at a high level across multiple sections.

    Copyright:

    © All Rights Reserved
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    Download as pdf or txt
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    1.

    Capacity strategy
    1 Desing flexibility into systems. 5. Field that makes use of forecasting
    2 Take stage of life cycle into account. errors?
    3 Take a big picture approach to capacity changes.
    4. Prepare to deal with capacity chunks.
    5 Attempt to smooth out capacity requirements.
    6 Identify the optimal operating level.

    2. Black box model


    Operations function involves systems for
    converting inputs into outputs

    6. Key Inventory Terms


    -Basic Economic Order Quantity (EOQ) Model:
    use to fixed order size that will minimize the sum
    of the annual costs of holding and ordering
    3. Fields that make use of forecasting inventory.
    • Accounting: New product/process cost -Economic Production Quantity (EPQ): Similar to
    estimates, profit projections, cash management EOQ, but orders received in a single delivery,
    • Finance: equipment, timing and amount of units are received incrementally during
    funding production.
    • Human Resources: Hiring activities, recruitment, -Quantity discounts: price reductions for larger
    interviewing, training orders to induce costumers buy in large
    • Marketing: Pricing and promotion, e-business quantities.
    strategies, global competition strategies
    • MIS: new information systems, internet services 7. inputs and steps of the MRP
    • Operations: schedules, capacity planning, work system?
    assignments, inventory planning, project
    management
    • Product/service design: revision features, design
    of new products

    4. Fields that make use of


    forecasting, time horizon
    Short-range forecast
    • Up to 1 year; usually less than 3 months
    • Job scheduling, worker assignments
    Medium-range forecast
    • 3 months to 3 years
    • Sales and production planning, budgeting
    Long-range forecast
    • 3+ years
    • New product planning, facility location
    8. Aggregate planning strategies 11. explain planning and decision-
    • Maintain a level workforce making hierarchy?
    • Maintain a steady output rate
    • Match demand period by period
    • Use a combination of decision variables.

    9. Approaches to capacity expansion

    12. Planning process

    13. Bill of Material


    BOM: one of the 3 primary inputs of MRP; a
    10. Inventory management listing of all the raw materials, parts,
    subassemblies, and assemblies needed to
    Tracking of inventory from manufacturers to
    produce one unit of a product.
    warehouses and from these facilities to point of
    sale. Keep always enough stock, Accurate
    tracking, and correct priorities based on the
    needs for the business. Process of sorting,
    ordering, controlling the products in order to
    satisfy the costumer.
    14. Strategy and issues during a 15. Assembly Time chart
    product´s life

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