OPM400 Midterm Review PDF

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2214 OPM400 Midterm Review TopicsChapter 1 - Introduction to Operations ManagementWhat is Operations Management? Why study Operations Management? The Transformation Process Operations functions Development of Operations Management Differentiating production of Goods and ServicesChapter 2 - Competiti...

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2214 OPM400 Midterm Review Topics Chapter 1 - Introduction to Operations Management What is Operations Management? Why study Operations Management? The Transformation Process Operations functions Development of Operations Management Differentiating production of Goods and Services Chapter 2 - Competitiveness, Strategic Planning and Productivity Competitiveness Key Purchasing Criteria Order qualifiers and Order winners Competitive Priorities Core Competencies Operations Strategy Productivity- Calculations partial and total Productivity and percent change General ways to improve productivity Chapter 3 - Demand Forecasting What is demand forecasting and impact when supply/demand is off balance. Features common to all forecasts. Qualitative forecasting methods / Time Series analysis Patterns in a Time Series: Trend/ Seasonality/ Cycles/ Irregular variations/ Random variations Weighted moving averages, exponential smoothing, MAD (Mean absolute deviation), Mean Square Error (MSE) and Mean Absolute Percentage Error (MAPE) calculations Seasonal Index calculations Chapter 4 – Supply Chain Management Terms - Supply Chain and Supply Chain Management Main flows in Supply Chain Foundation elements Supply Chain Design Holding inventory in the supply chain Cross Docking / Quick Response (QR) / Barcodes / Vendor Managed Inventory (VMI), EDI, RFID / CPFR Logistics / Modes of Transportation Supply Chain performance Metrics – Inventory turnover and Days of supply calculations Areas of Social Responsibility...