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Worked problems, method notes and exam strategy from the people who teach the classes.
Operations Managment
1. What is a Make or Buy Decision? A Make-or-Buy Decision is the decision taken by a company to determine whether a product, part, or component should be made inside the organization or purchased from an outside supplier. In simple …
Operations Managment
1. What is sequencing? Sequencing means deciding the order in which jobs, tasks, or operations should be processed. In simple words, when many jobs are waiting, sequencing answers one question: Which job should be done first, second, third, and so …
Operations Managment
1. What is maintenance? Maintenance means the set of activities required to keep plant, machinery, equipment, and other facilities in good working condition. In simple words, maintenance means keeping machines and systems fit, safe, and ready for use. What is …
Operations Managment
1. What is Statistical Quality Control? Statistical Quality Control, usually called SQC, is the use of statistical methods and tools to monitor, control, and improve quality in production or service processes. In simple words, SQC helps an organization check whether …
Operations Managment
1. What is quality? Quality means the degree of excellence of a product or service and the extent to which it meets required specifications and customer expectations. In simple words, quality means the product or service is fit for use …
Operations Managment
1. What is work measurement? Work measurement is the application of techniques used to determine the time required for a qualified worker to complete a specific job at a defined level of performance. In simple words, work measurement tells the …
Operations Managment
1. What is method study? Method study is the systematic recording and critical examination of the existing and proposed way of doing work so that a better and more effective method can be developed. In simple words, method study means …
Operations Managment
1. What is work study? Work study is a systematic way of examining how work is done so that productivity can be improved and waste can be reduced. In simple words, it means studying a job carefully to find a …
Operations Managment
1. What is EOQ? EOQ stands for Economic Order Quantity. It is the quantity of material that should be ordered each time so that the total inventory cost becomes minimum. The EOQ model helps in minimizing total ordering cost and …
Operations Managment
1. What are inventory control techniques? Inventory control techniques are the methods used by organizations to manage stock properly, avoid shortage, avoid excess stock, and keep inventory cost under control. In simple words, these techniques help a business decide which …
Operations Managment
1. Inventory Management What is inventory? Inventory means the stock of materials or goods kept by an organization for use in production or for sale. In a manufacturing business, inventory usually includes raw materials, work-in-progress, and finished goods. In simple …
Operations Managment
1) What is MRP? MRP stands for Material Requirements Planning. It is a system used to decide: In simple words: MRP helps a company make sure the right materials are available at the right time for production. 2) Very simple …
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