UT Knoxville BUAD 341 - Exam 1 Study Guide (2 pages)

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Exam 1 Study Guide

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Exam 1 Study Guide


This is the study guide for exam 1. Use the study guide lecture notes and books to study.

Study Guide
University of Tennessee
Buad 341 - CBM II: Lean Operations

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BA 341 1st Edition Exam 1 Study Guide Lectures 1 5 Lecture 1 August 25th Chapter 1 Introduction What is the difference between services and goods Services are intangible produced and consumed simultaneously unique high customer interaction inconsistent product definition often knowledge based the services are dispersed quality may be hard to evaluate and reselling is unusual Goods are tangible product can usually be kept in inventory similar products produced limited customer involvement in production product standardized standard tangible product tends to make automation feasible product typically produced at a fixed facility many aspects of quality for tangible products are easy to evaluate and product often has some residual value Lecture 2 August 27th Chapter 1 Production is the making of goods and services A fundamental measure of performance is productivity measures Partial productivity measures Total productivity measures Multifactor productivity measures Lecture 3 September 3rd Chapter 7 S Capacity and Constraint Management The Goal What is the goal of an organization The goal of an organization is to make money What are the concepts of bottleneck and constraint and their implications on system performance A constraint is a variable where a significant improvement in local performance causes significant improvement in global performance A bottleneck is any resource whose capacity is less than the demand placed on it Improvement on the bottleneck for a system improves the entire systems performance because bottlenecks limit the systems output What are the process performance metrics Process Time of a Station the time needed to produce a single unit or a batch of units the reciprocal of capacity Process Time of a System the time of the longest process in a system Process Cycle Time the time it takes the product to go through the entire system from start to finish Utilization Actual output Design capacity Efficiency Actual output Effective capacity Lecture 4

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