I’m working on a business test / quiz prep and need an explanation to help me study.
I need you to be there with me from 9am-11:30amEST.
Check if your knowledge already match the following points
1.Process Analysis:
- Calculation of Process Time/Process Cycle Time/Capacity rate/Utilization
- Identify Bottlenecks in a system
2.Break-even analysis:
– Calculation of BEP in units and BEP in time
- Need to pay attention to the time unit
3.Quality Management:
– Calculation of Cp and Cpk; given limits and other data, it needs to be substituted into the formula to find the problem requirements
The value of variable (for example, LCL and standard deviation are given, and mean is required)
-Application of Control Charts
– What does each chart examine
-average? Range/variance/dispersion? Defective rate? Number of defects?
– Algorithms of UCL and LCL for each chart
-Components of TQM
-such as employee empowerment)
-TQM Tools
-The usage and description of each chart, etc.
4. Forecasting
– 2 Identification and definition of Frocasting Approches
– Properties/definition/identification of Time Series Components o -Calculation applications of Quantitative Models
▪ Calculation of Naïve, Moving Average, Weighted Moving Average, Exponential Smoothing
▪ Error Measures
• MAD/MSE/MAPE
▪ Double Exponential Smoothing – Trend Adjustment
▪ Triple Exponential Smoothing – Seasonality Adjustment
• Confidence level and interval
▪ Definition of Qualitative Methods and identification of examples
5.Inventory
-Categories of costs, Calculation of total inventory costs
-Supply Chain Performance Metrics
▪ Inventory Turnover and Percentage in Inventory
-Inventory Systems (the difference between Continuous and Periodic)
– Models calculation
▪ Basic EOQ
▪ EOQ with positive lead time
▪ Continuous Models (aggregated demand or standard
deviationduring lead time/daily demand or standard deviation note
(Meaning that these two kinds of different information need to use different formulas)
▪ Fixed-period Inventory Model
6. Supply Chain Management
– Causes of bullwhip effect
– The calculation of Bullwhip Effect and the occurrence or absence of the situation (ratio> 1)
there will be 35-36mc,t/f or calculation questions
