Operations Management at Frankfurt School Of Finance & Management | Flashcards & Summaries

Select your language

Suggested languages for you:
Log In Start studying!

Lernmaterialien für Operations Management an der Frankfurt School of Finance & Management

Greife auf kostenlose Karteikarten, Zusammenfassungen, Übungsaufgaben und Altklausuren für deinen Operations Management Kurs an der Frankfurt School of Finance & Management zu.

TESTE DEIN WISSEN

What is Operations Management? 

Lösung anzeigen
TESTE DEIN WISSEN

Managing... 


1. the transformation of an input rate into an output rate 


2. to match an demand rate and make money or achieve non for profit objectives

Lösung ausblenden
TESTE DEIN WISSEN

What are the two types of variation? 

Lösung anzeigen
TESTE DEIN WISSEN

common cause variation 

natural; system is fully under control; can never be eliminated


special cause variation

should be eliminated; Handschuhe und Brille beim Darts Beispiel

Lösung ausblenden
TESTE DEIN WISSEN

Why is it important to measure inventory in money not in products/units ?

Lösung anzeigen
TESTE DEIN WISSEN

Because if there are several different products the number of units is useless

Lösung ausblenden
TESTE DEIN WISSEN

What does the average inflow rate and the average service time give? 

Lösung anzeigen
TESTE DEIN WISSEN

Average inflow rate = how many customers per hour/minute


Average service time = How long does it take to serve customer

Lösung ausblenden
TESTE DEIN WISSEN

What does the Erlang Loss Formula give? 

Lösung anzeigen
TESTE DEIN WISSEN

r = p/a 


Look up r in the Erlang Loss Table and find out how much percent of the whole time the process is busy (all servers are busy) 

Lösung ausblenden
TESTE DEIN WISSEN

Why are buffers needed in general? 

Lösung anzeigen
TESTE DEIN WISSEN

Because without buffers flow units cannot wait but simply go from step to step which can cause extremely high trouble when a station needs more time than the other (buffers are used as simple waiting rooms) 

Lösung ausblenden
TESTE DEIN WISSEN

What does Years/Months/Days of Supply measure and how is it calculated? 

Lösung anzeigen
TESTE DEIN WISSEN

T = I/R I=Inventory and R=COGS


How long does money stay in a company until it turns to revenue? 

How long has one passenger have to wait in average? 

Lösung ausblenden
TESTE DEIN WISSEN

What is a production cycle?

Lösung anzeigen
TESTE DEIN WISSEN

A repeating sequence of produced units 

Lösung ausblenden
TESTE DEIN WISSEN

What are examples for a typical situation with patient customers and vice versa? 

Lösung anzeigen
TESTE DEIN WISSEN

patient = supermarket (when you put your things in the cart you have to get to the checkout) 


inpatient = backery (if you get there and see a long line you can leave without even getting into the queue) 

Lösung ausblenden
TESTE DEIN WISSEN

As customers do not come in a constant rate but in peaks - how can one manage those peaks? 

Lösung anzeigen
TESTE DEIN WISSEN

Reduce demand (off peak discount)  or increase capacity (increase resources or pre sale) 



Lösung ausblenden
TESTE DEIN WISSEN

Was ist der Unterschied zwischen "do the right things" und "doing things right"?

Lösung anzeigen
TESTE DEIN WISSEN

Do the right things = Effektivität


Do things right = Effizienz

Lösung ausblenden
TESTE DEIN WISSEN

Explain power of pooling

Lösung anzeigen
TESTE DEIN WISSEN

Neither more or faster work 


Pooled process uses available capacity more efficient 


Pooling prevents that one resource is idle while the other faces backlog

Lösung ausblenden
  • 30466 Karteikarten
  • 546 Studierende
  • 6 Lernmaterialien

Beispielhafte Karteikarten für deinen Operations Management Kurs an der Frankfurt School of Finance & Management - von Kommilitonen auf StudySmarter erstellt!

Q:

What is Operations Management? 

A:

Managing... 


1. the transformation of an input rate into an output rate 


2. to match an demand rate and make money or achieve non for profit objectives

Q:

What are the two types of variation? 

A:

common cause variation 

natural; system is fully under control; can never be eliminated


special cause variation

should be eliminated; Handschuhe und Brille beim Darts Beispiel

Q:

Why is it important to measure inventory in money not in products/units ?

A:

Because if there are several different products the number of units is useless

Q:

What does the average inflow rate and the average service time give? 

A:

Average inflow rate = how many customers per hour/minute


Average service time = How long does it take to serve customer

Q:

What does the Erlang Loss Formula give? 

A:

r = p/a 


Look up r in the Erlang Loss Table and find out how much percent of the whole time the process is busy (all servers are busy) 

Mehr Karteikarten anzeigen
Q:

Why are buffers needed in general? 

A:

Because without buffers flow units cannot wait but simply go from step to step which can cause extremely high trouble when a station needs more time than the other (buffers are used as simple waiting rooms) 

Q:

What does Years/Months/Days of Supply measure and how is it calculated? 

A:

T = I/R I=Inventory and R=COGS


How long does money stay in a company until it turns to revenue? 

How long has one passenger have to wait in average? 

Q:

What is a production cycle?

A:

A repeating sequence of produced units 

Q:

What are examples for a typical situation with patient customers and vice versa? 

A:

patient = supermarket (when you put your things in the cart you have to get to the checkout) 


inpatient = backery (if you get there and see a long line you can leave without even getting into the queue) 

Q:

As customers do not come in a constant rate but in peaks - how can one manage those peaks? 

A:

Reduce demand (off peak discount)  or increase capacity (increase resources or pre sale) 



Q:

Was ist der Unterschied zwischen "do the right things" und "doing things right"?

A:

Do the right things = Effektivität


Do things right = Effizienz

Q:

Explain power of pooling

A:

Neither more or faster work 


Pooled process uses available capacity more efficient 


Pooling prevents that one resource is idle while the other faces backlog

Operations Management

Erstelle und finde Lernmaterialien auf StudySmarter.

Greife kostenlos auf tausende geteilte Karteikarten, Zusammenfassungen, Altklausuren und mehr zu.

Jetzt loslegen

Das sind die beliebtesten StudySmarter Kurse für deinen Studiengang Operations Management an der Frankfurt School of Finance & Management

Für deinen Studiengang Operations Management an der Frankfurt School of Finance & Management gibt es bereits viele Kurse, die von deinen Kommilitonen auf StudySmarter erstellt wurden. Karteikarten, Zusammenfassungen, Altklausuren, Übungsaufgaben und mehr warten auf dich!

Das sind die beliebtesten Operations Management Kurse im gesamten StudySmarter Universum

Global Operations Management

Hochschule Mannheim

Zum Kurs
Operations Mangement

Cape Peninsula University of Technology

Zum Kurs
Operations Management Final

Western Governors University

Zum Kurs

Die all-in-one Lernapp für Studierende

Greife auf Millionen geteilter Lernmaterialien der StudySmarter Community zu
Kostenlos anmelden Operations Management
Erstelle Karteikarten und Zusammenfassungen mit den StudySmarter Tools
Kostenlos loslegen Operations Management