BUSOBA 3230 Final Exam

BUSOBA 3230 Final Exam
Any set of activities performed by an organization that takes inputs and transforms them
into outputs ideally of greater value to the organization than the original inputs.
Process
The average time between completions of successive units in a process
Cycle Time
The ratio of the time that a resource is actually activated relative to the time that it is
available for use.
Utilization
A ______________ process is activated only in response to an actual order. Inventory
(both WIP and FG) is kept to a minimum.
make-to-order
In a _________________ process, the customer is served "on-demand" from finished
goods inventory
make-to-stock
Often times when demand is seasonal, a _________________ process is used.
make-to-stock
A hybrid process combines features of
make-to-order and make-to-stock
Movement of items through a process is coordinated through a timing mechanism.
Pacing
A measure of how well resources are used. According to Goldratt's definition (see
Chapter 23), all the actions that bring a company closer to its goals.
Productivity
A ratio of the actual output of a process relative to some standard
Efficiency
Being _______________-means doing something at the lowest possible cost.
Efficient
Which performance measurement term can also be used to measure the loss or gain in
a process?
Efficiency