Key Terms and Concepts: Aggregate planning Aggregate planning decision variables Bill of material (BOM) Capacity requirements planning (CRP) Chase demand strategy Disaggregation Lot-for-lot (LFL) Lot sizing Master production scheduling (MPS) Materials requirements planning (MRP) MRP explosion Resource management Some questions to point you in the right direction for studying for your exam: Define resource management and list its key objectives. Explain the three levels of resource planning. Describe the options that managers have for developing aggregate plans to respond to fluctuating demand. What is the difference between a level production strategy and a chase demand strategy? Define a Master Production Schedule (MPS) and explain how it differs from a final assembly schedule. Define Material Requirements Planning (MRP) and how it can benefit an organization. What is capacity requirements planning (CRP)? Chapter 17 Key Terms and Concepts: Continuous improvement Just-in-time (Kanban) system Lean enterprise Lean operating systems Lean Six Sigma Manufactured Good Recovery Options (i.e., cannibalize, recycle, refurbish, remanufacture, repair, resell) Pull operating system Push operating system Supplier relationships Total productive maintenance (TPM) Some questions to point you in the right direction for studying for your exam: Define lean enterprise and the four principles of lean operating systems. Explain the four fundamental objectives of lean operating systems. What are the categories of waste as defined by Toyota? What do we mean by “synchronize the entire value chain”? Why is this important to becoming lean? How does quality improvement support lean enterprise? How does Total Productive Maintenance (TPM) affect lean operating systems? Explain the options for manufactured good recovery. Chapter 14 Key Terms and Concepts: Automatic scheduling Earliest-due-date (EDD) rule Flow time Gantt charts Johnson’s two-resource sequencing rule Lateness Makespan Schedule evaluation Schedule generation Scheduling Sequencing Shortest-processing-time (SPT) rule Tardiness Some questions to point you in the right direction for studying for your exam: Define scheduling and sequencing. How do these concepts differ? How are they similar? Explain how scheduling supports the three levels of aggregate and disaggregate planning. Explain the role of scheduling and sequencing in supply and value chain. What are the differences between flow time and makespan? Why are these criteria important from the perspective of operations performance? Compare and contrast the advantages and disadvantages of the Shortest Processing Time (SPT) and the Earliest Due Date (EDD) sequencing rules. Describe Johnson’s sequencing rule for the two-resource sequencing problem. How can organizations monitor schedules? Why is it important to do so? Chapter 18 Key Terms and Concepts: Activities Crash cost Crash time Crashing a project Crashing an activity Critical path (CP) Project Project Evaluation and Review Technique (PERT) Project management Project network Project objective Some questions to point you in the right direction for studying for your exam: Define critical path and explain how it is identified once a project schedule is calculated. Explain the three time estimates used to characterize uncertainty of activity times in the Program Evaluation and Review Technique (PERT) procedure. Discuss the importance of project control and monitoring. How do you evaluate the effect of uncertainty of activity times on the total project completion time? What do arcs and nodes represent in a project network? Explain the concept of crashing in project management. What issues must a project manager wrestle with in making crashing decisions?