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UB MGO 302 - exam1 keywords

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Word # KeywordChapter Definition1 balking5When an arriving customer decides against joining a line.2 benchmarking3Measuring performance relative to some peer’s performance,generally identified as best in class.3 biomimicry1The imitation of natural processes and systems.4 business analytics1,2Continuous investigation of business performance using large volumes of data.5 business unit2A segment of a larger organization, usually managed as a profit-and-loss center.6 capacity cushion5Largely idle capacity maintained beyond the expected load level of a system, often to absorb unexpected demand.7coefficient of determination4Proportion of variation in a dependent variable that is explained by a regression model.8concurrent engineering3Integration of a product’s design and process development phases, to enhance manufacturability.9 core competency2,5Specific ability that distinguishes a business from its competitors.10 crowdsourcing4Crowd outsourcing; combining independent efforts of many people to accomplish a task.11 Delphi method4A qualitative forecasting technique in which experts achieve consensus through a blind process via a facilitator.12 design capacity5The theoretical maximum output of a system, assuming ideal operating conditions.13diseconomies of scale5Increasing average unit cost by increasing volume.14 economies of scale5Decreasing average unit cost by increasing volume.15 effective capacity5The practical maximum output of a system, assuming normal operating conditions.16 ethics1Principles governing conduct, delineating good from bad.17exogenous variation4A nonrepeating deviation in a time series created by a distinct, identifiable external influence.18expert opinion panel4A small group of highly knowledgeable people who develop prediction through discussion and consensus.19finite calling population5An environment in which the maximum number of potential arrivals to a waiting line is distinctly restricted.20 fishbone diagram3Visual model to clarify cause-and-effect relationships.21 goal alignment2Developing goals compatible among business units and consistent with higher-level goals of that organization.22 histogram3A bar chart illustrating the relative frequency of occurrences in different categories.23infinite calling population5An environment in which the number of potential arrivals to awaiting line is unrestricted.24 inprocess wait5A delay occurring during the provision of a service.25jury of executive opinion4An expert panel composed of managers.26 Kendall notation5A labeling system for classifying waiting line models accordingto their initial assumptions.27 make-to-order2A system that produces low volumes of customized product.28 make-to-stock2A system that produces high volumes of standardized product.29 manufacturability3The degree to which a product can be created easily and reliably according to specifications.30 mission2An organization’s statement about what it’s doing to meet its vision.31 order qualifiers2Minimum competitive characteristics necessary to be considered for a customer’s order.32 order winners2Those characteristics that give a product competitive advantage.33 Pareto analysis3The use of statistics to identify the factors most influential in aparticular outcome of interest.34partial productivity measure2A ratio of a particular output to a particular input of an operation.35 planning horizon1,4The farthest point in the future considered in decision making.36 preprocess wait5A delay occurring before any service begins.37 processes1,2Activities that transform inputs into outputs.38 product life cycle2Generalized pattern of phases in product demand over time, from incubation to decline.39 quality circle3A group of employees that meets regularly to discuss and develop opportunities for continuous improvement of an operation.40quality of conformance3The degree to which the output of an operation meets the producer’s expectations.41 quality of design3The degree to which the output of an operation meets the customer’s expectations.42 queue5A waiting line.43 queue discipline5A rule or rules determining the order in which waiting individuals will be served.44 queuing theory5The mathematical modeling of waiting lines.45 rapid prototyping3Creating physical examples of a design as quickly as possible, to allow further assessment and improvement.46 regression analysis4Using mathematical relationships between two or more variables to predict future values.47 reneging5When an arriving customer joins a line, but then abandons it before being served.48 responsiveness4The degree to which a technique modifies forecasts to reflect recent changes in past data.49 reverse engineering3Disassembling and evaluating a competitor’s product.50 scatter diagram3A graph of paired observations plotted as coordinate points tohighight their relationship.51scientific management1A methodology stressing the use of data collection and analysis to redesign processes and improve efficiency.52 seasonality4A repeating pattern within a time series.53 serpentine line5A single queue of customers waiting in a line that must bend one or more times to fit within the service facility.54 strategy1,2A methodology and resulting plan that identifies the long-term goals of an organization.55 supply chain1A system consisting of all organizations that play some role in supplying a particular product to a customer.56 tactics1Means to pursue strategic goals with available resources.57 time series4Values observed in chronological order.58 tractable5Easy to use; yields insight with a limited number of calculations.59 utilization5Percent of design capacity in use.60 vision2An organization’s defining statement about the future.Chapter Word Counts:Chapter 1 9Chapter 2 14Chapter 3 12Chapter 4 11Chapter 5 19Total:


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