MGT 364 - Study Guide
Chapters 1, 2, 3, 4, 5, & 6 Exam 1

Chapter 1 (about 6 questions on test)
1. Where is operations management most applicable?

2. Who were some of the contributors to operations management?

3. Know how to calculate labor productivity.

4. What has been a major reason for globalization of business?

5. What is the scope of decisions that fall under operations management?

6. What has the greatest potential to increase productivity?

7. What are new trends in operations management?

8. What is the percent of jobs that are in the service industry?

Chapter 2 (7 questions)
1. “A corporate strategy helps you set your competitive priority.” What does this mean?

2. In terms of a company’s overall strategy, what are the main considerations when you are creating an operations strategy?

3. What is the difference between a mission and a strategy?

4. Once you have a mission, your next steps are to do what?

5. Understand “strategic concepts” that allow or help firms to achieve their mission (i.e. differentiation, quick response, etc.).

6. What are examples of how you would compete on low-cost leadership?

7. What are examples of how you would compete if you are emphasizing quick response?

8. What type of business most likely needs to locate near their customers?

9. What are the reasons for globalizing operations?

10. What are the ways businesses compete with one another (i.e. production cost, time to perform certain activities)?

11. What has made it easier today to compete globally?

12. What best describes the concept of reliability?

13. What best describes the concept of speed?

Chapter 3 (3 – 4 questions)
1. What does a project consist of?

2. What does it take to best organize and manage a project?

3. A project organization is most suitable to what type of work (i.e. simple or complex, temporary or permanent?

4. What do GANTT Charts do and not do?

5. Be able to perform a critical path.

6. Know the length of the critical path.

7. In terms of PERT, what is optimistic and pessimistic time?

8. What are the reasons why multinationals shop from country to country?

Chapter 4 (5 – 6 questions) – 4 problems
1. In terms of time horizon, what are the 3 categories of classifying forecast?

2. Understand stability and responsiveness.

3. What does increasing or decreasing the number of period for a moving average do?

4. How do you get more accurate forecast?

5. Perform a MAD.

6. What is the purpose of a MAD?

7. What is reason for using forecast?

8. What is the reason for using forecast?

9. How does an exponential smoothing forecast work, why use it?

10. Calculate a simple exponential smoothing forecast.

Chapter 5 (3 – 4 questions)
1. What does QFD do?

2. How do you do QFD?

3. What is the purpose of product strategy?

4. What is robust design?

5. Describe the product life cycle?

6. At what stage of the product life cycle do you introduce value analysis?

7. What is “Lego world” and where would it be and not be appropriate?

Chapter 6
1. TQM emphasizes or requires what?

2. What do shoestrings and a $10 bill have to do with quality?

3. What can you expect to increase and decrease as you implement TQM?

4. A TQM program emphasizes or incorporates what (ex. not employees fault)?

5. “Kaizin” is a Japanese term for what?

6. What is benchmarking?

7. What are the costs that “quality loss function” emphasizes?

8. What are Pareto charts used for?

9. If you emphasize continuous improvement, you favor what?

10. Deming was a strong proponent of?

11. What is Taguchi Loss Function? What are the key elements of the concept?

12. What does a process chart emphasize and what do its symbols mean?

13. What are the “4 M’s”?

14. What TQM tool helps you understand the sequence of events?

15. A TQM technique that identifies the “vital few” is?

16. A “fishbone” is an example of?

17. A TQM technique where you attempt to identify the factors or flaws in a product would be?

18. If you are concerned about the poor service to your customers and want to identify where you might be loosing time within the sequence of activities, which TQM tool would you use?

19. When parts are sampled and those measures fall outside control limits, this means what?

20. If those measures fall within limits, it means?

Miscellaneous
1. How to do a break even analysis?

2. What is a process flow diagram?

3. What does a TQM program do?

4. Understand Demand Forecasting and how to determine which forecast is for what product.

5. What is an operational strategy?

6. What is low-cost leadership?