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business
operations management

Questions and Answers of Operations Management

What is the objective of material flow analysis?
Classify the following items using the A, B, C inventory classification approach. Which items should be monitored most closely, and which ones should have the least amount of safety stock?
How can performance measures sometimes cause the wrong things to happen?
What are some things Amazon does to manage inventories in their warehouses?
How are stockouts of anti-malaria drugs reduced in Africa?
What was the primary thing Cole Hardware did to modernize its inventory management capabilities?
What would be some good inventory management performance measures for a fast-food company? A bicycle repair shop? A big-box retailer?
Could cash-to-cash cycle time be negative? How? Would that be good?
What can be said about order lead times and safety stocks in actively managed, successful supply chains?
Describe several cases when a periodic review model would be preferred to a ROP model.
When both demand and purchase lead time vary, why is the required safety stock higher when compared to the variable demand ROP model, for the same service level?
In looking at the ROP formula with variable demand, what is the expected service level when the Z is zero? What is the safety stock level when Z is zero? What is the maximum value of Z?
Explain the order policy used when demand is assumed to be variable. Is the EOQ still useful here?
Why might it be cheaper to order a large quantity of price-discounted merchandise from a supplier rather than the appropriate EOQ amount? Won’t the annual carrying cost be prohibitively high?
How does the quantity discount model differ from the EOQ model? Is the EOQ still used?
Why does the EOQ only seek to minimize annual order cost and annual inventory carrying cost? What happened to stockout cost and purchase cost?
Discuss the relationship between the bullwhip effect and supply chain inventories, and what can be done to manage it.
How would you reduce stockout risk at a hospital? At a high-end retailer?At Walmart ?
Why do you think inventory is considered a “necessary evil” in organizations?
Why are inventory management performance measures important?
What is the ABC inventory classification, and how is it used?
How is the EOQ used in the periodic review model?
What determines the level of safety stock to be used in the probabilistic demand reorder point model?
How do changes in demand, order cost, and carrying cost affect the EOQ?
Why is the EOQ model described as “robust”?
What items are included in total annual inventory costs?
Define independent and dependent demand, and provide some examples of each.
Define the bullwhip effect and its impact on supply chain inventories.
List some of the causes of stockouts.
What are all of the various types of inventory costs?
List and describe the 5 functions of inventory.
Using the umbrella sales data above, calculate forecasts using the three-period weighted moving average with weights of (0.5, 0.3, 0.2) and using exponential smoothing with an α = 0.3 and a period 1
Calculate the forecasts for each month using your regression formula and then determine the MAD. Would you use this forecast if you sold these umbrellas? Why/why not?
Either calculate the regression coefficients by hand, or perform a linear regression using your spreadsheet software. What is the correlation coefficient? Is the data correlated?
Which is the best method to use for the following data—a three-period weighed moving average forecast with weights of (0.5, 0.3, 0.2) or an exponential smoothing forecast with an α = 0.25 (compare
Monthly demand and two forecasts are shown below. Which forecast is better? Why?
Compare the techniques in 1-3 above using the MAD, MAPE, RSFE, and TS for periods 4-7. Which forecast technique is the best? Why?
Calculate a linear trend forecast for periods 1-8 using Excel or some other spreadsheet application. What are the sample correlation coefficient and sample coefficient of determination? Do you think
What would be a good mission statement for your university or college?
Can segmenting markets by gender be done successfully? Explain.
Why do you think so many customer relationship initiatives fail? Describe some relationships you have with businesses. Are they successful?
Discuss how you would segment students at your school. Does the student union do this?
What is a mystery shopper and what do they do? Do you think this is a useful concept?
When would outsourcing customer service be a good idea? When would it be a bad idea?
What advantages and disadvantages does the customer participation approach to customer service have? What are some examples of this approach?
How does a firm achieve high quality customer service?
How do firms conduct an internal customer service audit? Why do they do it?
Why do firms conduct external customer service audits, and how do they do it?
What is the happy-productive worker hypothesis and what does it have to do with customer service?
How should performance metrics be used in customer relationship program implementations?
Compare telemarketing to the use of field sales personnel for relationship management purposes.
How does false-positive blocking affect relationship management efforts?
Can firing customers be a good practice? Can it be bad for business?
Why do CRM technology investments have relatively high failure rates?
What is bottom-up branding and how can this be a helpful concept for a firm?
Describe versioning and describe how it might be used in a customer relationship program.
Discuss the meaning of neighborhood marketing, and provide some examples of firms in your area.
What is customer lifetime value, and how can it be used in the design of marketing initiatives?
Discuss the term, "profitable customer" and why it is so important when segmenting customers, or designing marketing campaigns.
Define niche segmentation.
What is the objective of the customer relationship process?
What is customer segmentation, and why is it important?
How is customer relationship management different from CRM software applications?
What causes a customer service failure?
What are the three elements of customer service? Which one do you think is the most important?
What is the customer service process?
A specialty fabrication shop has the following assembly processes for one of the products it makes: Process 1 feeds a completed component to Process 2; Process 2 feeds a completed assembly to Process
If the process needed to make 18 units per day, what should you do?
How many finished units per day can the current assembly process produce? Where are the bottlenecks?
A local bakery had a design capacity of 1000 loaves per day, and an effective capacity of 700 loaves per day. During a three-day period, the bakery made 850 loaves per day. Calculate the capacity
How can McDonald’s cook 16 hamburgers in 45 seconds?
What are some of the things people have said about Dr. Michael Hammer and his book?
When watching the three managers talking about capacity, what are some of the plant characteristics they tied to capacity?
What are some of the sustainable work practices discussed in the video clip?
What is a sustainable process?
How can a break-even analysis be used when evaluating a potential new product? How can it be used in a make-or-buy decision?
Describe how the Theory of Constraints works. Use an example.
What is meant by economies and diseconomies of scale?
You wish to hire three part-time workers. What sort of capacity planning is this?
What is design capacity? Effective capacity? Best operating level?
How can flowcharts be used in process reengineering?
What is process reengineering? Do you think it is dead?
What is a process flowchart and why would you want to construct one?
List and describe the three types of processes based on the way that outputs are produced. In which of these categories would you put the process types discussed earlier in this chapter?
Define postponement and describe how it is related to mass customization.
What is mass customization and why is it considered a hybrid process?
List and describe the four basic types of processes.
What is the relationship between production output and automation and standardization?
Management can instead contract out to a soft drink bottler which can make the soft drink for a purchase price of $0.35. They expect to sell 250,000 units per year. How many years will it take Maggie
Which product project would be the best using a discount rate of 8 percent? a. Estimated investment cost of $185,000; annual cash inflows of $26,000 for 10 years, with a salvage value of
To what does the triple bottom line refer?
For the two projects below and using a discount rate of 12 percent, decide which one should receive the investment funds. Projected Projected Cash Flows, Year Cash Flows, ($) ($) - $325,000 -
What are some of the innovative office designs at Zappos ’ headquarters?
How successful has dumpster day been at Burt’s Bees?
What does John Edson say about use of materials and sustainable product design?
How comprehensive are Mercedes’ product tests? What tests do they employ?
What is the gist of what Rob Beachy says about product screening?
Explain the concept of neuroscience and which companies use it.
What does Steve Jobs say about generating innovative ideas at Apple?
Do you think Jetboards are well-designed? What sort of customer would they appeal to?

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