OPMA 3306 FINAL EXAM REVIEW FALL 2023 The final exam for the OPMA 3306 Fall 23 class will be held on December 11th from 8am to 10 30am The exam will be paper based and in our regular classroom i e COBA 243 The Exam will be 150 minutes in duration and all students are advised to come to the classroom 5 10 minutes prior to exam start time No extra time will be provided for the exam The exam will be cumulative and will cover all chapter s covered during the semester All students are required to bring a scientific calculator UTA ID and adequate scratch paper for the exam Each student is allowed to bring a maximum of 2 pages of double sided notes formulas with them I will be providing all required tables along with the Exam The Exam will be multiple choice based and will feature both problems and conceptual questions You are not required to bring a scantron or print out any table s KEY CONCEPTS TO REVIEW Triple bottom line Understand what are the different competitive dimensions for a firm How does a firm formulate an operations and supply chain strategy Flexibility vs Straddling Order winner vs Order qualifier Activity system maps Know how to calculate different types of productivity Chapter 2 Chapter 3 Components of Demand Understand the forecast horizon and amount of historical data required for different forecasting methods Simple moving average weighted moving average Exponential smoothing with without trend Understand Linear regression and how to calculate slope intercept and make forecasts Additive and multiplicative seasonal variation Understand the different measures of capturing forecasting error i e MAD TS and MAPE Chapter 11 Know the different types of inventory Know the differences between the single period model fixed order quantity and fixed Know the different reasons for keeping inventory and the various costs associated with time period model inventory management Newsvendor model understand how to interpret Cu and Co to calculate the number of extra units to stock i e to derive P Z etc Understand the basic fixed order quantity model and the Total cost EOQ and R concepts Know how to calculate reorder point lead time standard deviation and EOQ for fixed order quantity models with safety stock i e probability approach Be familiar on how to interpret EOQ and R and other results obtained in fixed order quantity models Be familiar with how to use Z table to calculate the z score for any given probability level Chapter 4 and Learning curves Capacity planning time horizons Capacity utilization rate Focused factory Capacity cushion Decision Trees Expected value calculations and tree traversal Individual learning vs Organizational Learning Learning curve Know how to use learning curve tables to solve problems Practice Example 4 A 1 4 A 2 and the 2 solved problems on Page 70 of your textbook Chapter 6 Clearly understand the difference between Make to Stock Make to order Assemble to order Engineer to order firms Understand the little s law concept formula and practice Example 6 1 Know the differences between the various production process layouts i e project workcenter assembly line manufacturing cell and continuous process Understand assembly line balancing and know the formulas for calculating workstation cycle time the theoretical minimum number of workstations Know the formula to calculate assembly line efficiency practice Example 6 2 Chapter 8 Know the different time dimensions for sales and operations plans Know the definition of aggregate plan and what 3 items are being optimized using an aggregate plan Know the different internal and external inputs that influence production planning Understand the four production planning strategies Please read each and every strategy so that you are clear with the differences between these 4 options Know the relevant costs that affect an aggregate plan Understand the cut and try example of the JC company given in the textbook Know the formulas to calculate ending inventory production requirement beginning inventory workers required etc Know when yield management is most effective and when it s least effective Know the order in which corporate plan aggregate plan master production schedule etc are developed Chapter 9 Independent vs Dependent Demand Know in which type of firm s is MRP most and least effective Aggregate Plan and MPS Master Production Schedule Time Fences Bill of Materials Know how to interpret BOM trees low level coding Understand the MRP explosion process and practice Example 9 1 on page 284 of the textbook Also look at the MRP example problem on page 280 Ampere electric meters example Understand Lot Sizing Techniques Lot for Lot EOD etc Chapter 10 Review Exhibit 10 1 Quality Gurus Dimensions of Design Quality Conformance quality vs Quality at source Cost of Quality and it s 4 types Understand why ISO certification is done and in which ways it can be done External Benchmarking Understand what is six sigma and know how to calculate DPMO Practice Example 6 1 Steps of Six sigma methodology DMAIC Know a few of the analytical tools used for six sigma i e flowchart pareto chart fishbone diagram etc Practice Example 10 2 Capability Index and Process capability Understand and practice problems for process control using p charts c charts X R charts Chapter 5 Matrix Chapter 14 Type of Projects Exhibit 5 1 Understand the different ways in which projects can be organized Pure Functional Work Breakdown structure Make sure to practice the project tracking with EVM problem Example 5 1 Also note down the formulas to calculate schedule variance cost variance CPI etc Understand how to draw project network calculate early and late start and finish times for tasks know how to calculate slack and critical path Know the three time estimate technique to calculating expected time variance and Z Make sure to note down the formulas for all these Understand project crashing and practice exhibit 5 10 5 11 Know definition Logistics International Logistics 3PL Third Party Logistics Know the different transportation modes used in logistics Cross docking vs Hub and Spoke system Factors influencing location of new facility Understand the Factor rating method and Centroid method Practice Example 14 2