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BUS 316 Final
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Gravity
Terms in this set (40)
an estimate of the future level of some variable
forecast
what are the 3 types of forecasting?
demand, supply, and price
forecasting techniques based on intuition or informed opinion
qualitative forecasting techniques
forecasting models that use measurable, historical data to generate forecasts
quantitative forecasting techniques
models that use a series of observations in chronological order to develop forecasts
time series forecast models
models in which forecast are modeled as a function of something other than time
casual forecast models
unpredictable movement from one time period to the next
randomness
long term movement up or down in a time series
trend
a repeated pattern of spikes or drops in a time series associated with certain times of the year
seasonality
a time series forecasting model that derives a forecast by taking an average of recent demand value
moving average model
a form of the moving average model that allows the actual weights applied to past observations differ
weighted moving average model
a form of the moving average model in which the forecast for the next period is calculated as the weighted average of the current period's actual value and forecast
exponential smoothing model
an expanded version of the exponential smoothing model that includes a trend adjustment factor
adjusted exponential smoothing model
a statistical technique that expresses a forecast variable as a linear function of some independent variable
linear regression
a generalized form of linear regression that allows for more than one independent variable
multiple regression
a philosophy of manufacturing applicable to manufacturing and services based on planned elimination of all waste and on continuous improvement of productivity
just - in - time
a philosophy of production that emphasizes the minimization of the amount of all resources (including time) used in the various activities of an enterprise. It includes identifying and eliminating non-value-adding activities
lean manufacturing
what is an element of JIT?
traditional mass production
any activity that does not add value to the good or service in the eyes of the consumer
lean waste AKA "muda"
1. overproduction
2. waiting
3. unnecessary transportation
4. inappropriate/wrong process
5. unnecessary inventory
6. unnecessary/excess motion
7. defects
8. underutilization of employees
8 lean wastes
Requires more storage space, requires tracking and counting, increases movement activity, increases risk of loss from theft, damage, obsolescence and hides yields, scrap and rework problems
inventory as waste
a production control approach that uses containers, cards or visual cues to control the production and movement of goods through the supply chain
kanban system
uses on card to control production and another card to control movement of materials
two card kanban system
a production system in which actual downstream demand sets off a chain of events that pulls material through the various process steps
pull system
when production begins based on demand
push system
a temporary endeavor undertaken to create a unique product, service or result
project
the application of knowledge, skills, tools and techniques to project activities to meet project requirements
project management
what are some of the major characteristics of a project?
1. projects have clear starting and ending points
2. projects are non-routine, can be large or small and may be difficult
3. typically require significant levels of cross functional and inter organization coordination
what are the 5 phases of a project?
1. concept phase
2. project definition phase
3. planning phase
4. performance phase
5. post-completion phase
broad definition and scope : budget estimates within plus or minus 30%
concept phase
tentative schedules and budgets, organization, key personnel and resource requirements, budgets estimates refined within 5 to 10%
project definition phase
detailed plans, timing, budgets and resources - milestones
planning phase
execution and control
performance phase
wrap up
post-completion phase
graphical tools used to show expected start and end times for project activities and to track actual progress against these time targets
gantt chart
graphical tools that show the logical linkages between activities in a project
network diagrams
a network based technique in which there is a single time estimate for each activity
critical path method
a network based technique in which there are multiple time estimates for each activity
PERT
the duration of a project is equal to the duration of the critical path
project duration
shortening the overall duration of a project by reducing the time it takes to perform certain activities
crashing a project
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Verified questions
ENGINEERING
Indicate whether the following statements are true or false. Explain. In moist air, each mixture component contained in a volume is considered to act as if it existed alone in the volume at the given mixture temperature.
ENGINEERING
A certain battery has terminals labeled a and b. The battery voltage is $v_{ab} = 12 \ V$. To increase the chemical energy stored in the battery by 600 J,how much charge must move through the battery? Should electrons move from a to b or from b to a?
ENGINEERING
Suppose that signal x(t) has Fourier transform X(jω). Now consider another signal g(t) whose shape is the same as the shape of X(jω); that is, g(t)=X(jt). (a) Show that the Fourier transform G(jω) of g(tO has the same shape as 2πx(-t); that is, show that G(jω)=2πx(-ω). (b) Using the fact that $$ φ[δ(t+B)]=e^{jBω} $$ in conjunction with the result from part (a), show that $$φ[e^{jBt}=2πδ(ω-B).
ENGINEERING
Use Stokes’ theorem to evaluate $\oint_{C} \mathbf{F} \cdot d \mathbf{r}$. Assume C is oriented counterclockwise as viewed from above. $\mathbf{F}=(x+2 z) \mathbf{i}+(3 x+y) \mathbf{j}+(2 y-z) \mathbf{k}$; C the curve of intersection of the plane $x+2 y+z=4$ with the coordinate planes