Review for Exam 3Topics CoveredLeanJust in TimePositioning the FirmStrategyProject ManagementForecastingProductProcessSupply ChainOperations ManagementFormulasReview for Exam 3SCM 305Topics Covered•Lean •Just in Time•Forecasting•Process planning•Product Planning•Intro to Operations Management•Positioning the Firm•Strategy•Project Management•Supply ChainLean •What is it?•Where did it come from?•History?•Goals?Just in Time•Wastes•Goals•Where•KaizenPositioning the Firm•Cost•Quality•Flexibility•SpeedStrategy•Vision•Mission •Order Winners/Order QualifiersProject Management•Gant•PERT•CPM•Crashing•Project vs. ProgramForecasting•Naïve•Moving Average•Weighted Moving Average•Exponential SmoothingProduct•Goal•Speed vs. Haste•Products vs. Services•Product design•Break even pointProcess•Goals•Improvement•Flow Charts•Break Even Analysis•Systems AvailabilitySupply Chain•Modes of Transportation•Intermodal•Information Systems•Supply Chain vs. LogisticsOperations Management•Henry Ford•Eli Whitney•Definition•Components•Walking the processFormulas•Simple Moving Average: (Sum demand for periods)/# periods•Weighted Moving Average: sum (weight x demand)•Exponential smoothing: 4 steps•Break Even: (fixed costs/(sales price – variable costs)•Point of indifference: set: Fixed CostsA + (Variable CostsA)(x) = Fixed CostsA + (Variable CostsA )(x) – solve for
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