MIDTERM EXAM STUDY GUIDE I am often asked how to best prepare for the BM 3130 exams What combination of textbook lecture and Recitation review offers the best approach The answer largely depends on how well the student wants to do Top performance generally requires attention to ALL sources If you have lesser goals for the course probably the lecture slides combined with Recitation notes should be at least the starting point since ALL the most important topics are covered A handful of supplemental material or problem solving is available from the Recitation that does not appear in the text Exam problems tend to follow examples used in class Several questions will be based on supplemental articles that have been reviewed in the Recitation Another important preparation is to work though the practice problems on your own They often flow very easily in Connect or when I go through the approach and solution in class When you start from a blank page it can be more initimidating so don t rely on learning solely by observing DO them Students have different degrees of difficulty or preference for the multiple choice format In general BM 3130 questions will always have one answer that is ALWAYS right and another decoy option that MAY be right either in some conditions or some of the time There is a danger in selecting an answer from the first possible solution that seems reasonable Always look at ALL the answers before selecting a better one may come later Also some students do better by trying to exclude what cannot be a correct answer before selecting one While this approach may take longer it generally leaves you in a position of choosing from a smaller number of possibilities hopefully no greater than two This improves your odds if it becomes necessary to guess More importantly it forces you to consider each answer If you start the exams on time my experience is that you will not be challenged for time While there are always a handful of test takers hanging on until the last second you should not expect to run out of time for either exam Finally the most asked question of all after the fact can be answered here and now NO there will be no scale of results The exams will offer a higher point value than 100 without changing the overall grade scale to pull up results what I describe as an earned scale Format What is Included The Midterm typically includes 35 multiple choice questions 3 points each one problems 8 points and either 1 mini case with short answer questions about 16 points or several smaller ones for a comparable value The Final Exam includes many of these same elements but structured into a multiple choice format for ALL answers Scantron sheets will be used for the multiple choice section only use a soft or 2 pencil make certain to print AND bubble in your name LAST NAME space FIRST NAME and IDENTIFY THE VERSION OF YOUR TEST IN BOX K either 1or 2 included on the exam cover sheet Be certain to also bubble in this information Show your work for the problem You may earn partial credit for incorrect answers OR lose credit for unsupported results Midterm only For the mini case section limit your answers to the available space Midterm only Be neat Closed book closed notes non programmable calculators are okay WAIT for instructions to start the exams are due promptly at the There is no time extension for those who arrive late but no cell phones end of class bell Content Hints Exam content will be distributed approximately even from all material focusing on one topic or problem will not be helpful All articles and videos from Carmen are fair game for questions based more on overall meaning or conclusions than specific facts Don t just memorize material understand it Several questions will be structured not as straightforward definitions but rather as examples or applications of course information You can also expect question formats such as Which of the following are NOT examples of During Recitations I will often announce material that will be used in exams and how Problem Section Midterm Typical applications may include Chapter 2 Productivity measures Chapter 13 Kanban Translating waste in a VSM into a common Chapter 5 Measures of cycle time and how a sequential process measure of time performs as in the case Chapter 6 Breakeven analysis Chapter 15 Simple calculation tools Forecasts from a Simple Moving Average Adding Weighting to the calculation Error measures Chapter 7a Interpreting Waiting Line model output data calculating the difference between Mean Time between Arrivals and Arrival Rate or Mean Service Time and Service Rate Topic Coverage Outline excludes articles videos Chapter 1 Operations and Supply Chain Management What is Operations Management What is SCM o The processes that produce transform and deliver a product or o Involves using resources and managing organizational service relationships o How things get done The improvement of business systems for better customer service reduced costs and greater competitiveness Removing waste and increasing value What is a process o A system of activities that transforms inputs employees equipment materials knowledge time into valuable outputs products services bundles info experiences How do products differ from services o Manufacturing changing products Goods are tangible patentable inventor able low customer contact high capital quality easily measured o Service transportation retail storage healthcare informational experience Xerox Video Made an environmental and sustainability report to outline everything they have done Their environmental initiatives have brought in extra business Triple bottom line this separates them from other countries Chapter 2 Strategy and Sustainability What incorporates a sustainable strategy o Meeting today s needs without compromising the ability to meet tomorrows o Triple Bottom Line firms responsibility to all stakeholders People Employees and stakeholders community Planet use and impact of resources throughout lifecycle Profit includes benefit for the host society What is an operations and supply chain strategy o How they will compete o How and where they should produce or serve o What should we include o How should it be delivered o How much is the customer willing to pay o How much profit do we want to make o How can we be different from out competitors What are the competitive priorities for operations o Also known as competitive dimensions What the company would like to achieve How the