Small Business and Business Software

A Small Business Is Defined As Quizlet

A Small Business Is Defined As Quizlet – It means the amount of standard deviation of the tail that is very small but has high quality i. (system used to reduce the variance to about 3.4/1 million in a Gaussian curve) ii. Most companies 3.5 stdev

Short term ; the implementation of schedules or control functions (shift scheduling), basically planning operations and system improvements that create the company’s core products and services

A Small Business Is Defined As Quizlet

A Small Business Is Defined As Quizlet

External factors (environment, security, crime) – Improvement of the workforce (education, demography) – Replacement of capital/labor – Economies of scale – Technological change (equipment, management)

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1. Technology 2. Economies of scale 3. Capital/labor substitution 4. Better labor input 5. External factors (negative growth)

The company is not as efficient as it could be and the underutilization of human resources is the most common waste

Types of waste: i. Transport ii. Warehouse iii. Movement IV. waiting v. Overproduction I saw. Overprocessing vii. Faults viii. Underutilization of human capital (Brigg’s most important)

Physical –> manufacturing Location –> transportation Exchange –> retail Warehousing –> storage Physiological –> health Telecommunications –> telecommunications

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Increased co-production of goods/services – Coordinate relationships between mutually supportive but separate organizations (buyer and seller) – Optimize global networks of suppliers, production and distribution – Manage customer experience during service encounter – Raise awareness of supply chain and operations as a significant competitive weapon – Sustainability and triple bottom line – Supply chain risk management

Comprehensive policies and plans by which the company uses its resources to support its long-term competitive business strategy; helps build a customer-oriented, often hierarchical company

Stage 1 = Internally neutral (focuses on minimizing negative aspects; does not focus on improvement) Stage 2 = Externally neutral (just keep up to date) Stage 3 = Internal support (focuses on consistency with company strategy + improvement of own processes) Stage 4 = External support (Seeking competitive advantage + being an industry leader)

A Small Business Is Defined As Quizlet

A temporary business with a fixed schedule and a series of assigned tasks that require time, effort and priority with a limited amount of resources to create a unique product or service

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Duplication of resources, the organization’s main goals are secondary, functional divisions are weak, and there is no life after the project (no work between projects)

One person can do multiple projects – Even if people leave the project, there are still people with knowledge in that area – There is still work to be done after the project is over – Specialized = greater efficiency

No cross-examination function; non-functional area tasks changed briefly – People work with their own group and don’t see others outside their department (accountants never see technicians) – Low motivation – Customer needs are met slowly

Go back to the checklist to find out or talk to someone who might have done the project

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Identify all the tasks that need to be done (the building blocks of the project), use the decomposition approach and the MECE (Mutually Exclusive and Collectively Exhausted) idea

O Sidebar chart showing timeline of activities considering early finish lines to late finish lines uniformly with early start)

Add features to shorten overall duration if cost effective – most common method – can’t lock down all functions (can’t hire 9 people to give birth to a baby in 1 month)

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A Small Business Is Defined As Quizlet

1. Identify the CPs 2. Choose the least expensive way to reduce the CP (ALL) 3. See if there are any cost savings, if any, update all paths 4. Repeat steps 1-3 until no cost savings are possible.

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Financial benefit and may be required to complete the project within a certain time frame (usually less time than expected)

Direct costs of operations always increase, resources must be increased, there must be a financial justification for the failed project, and indirect costs must include administrative fees/fines/bonuses

Wrong; can crash multiple operations but not multiple time periods – may crash multiple operations only if they are the cheapest alternatives on the corresponding critical paths

1. Conversion – actual product material changes 2. Manufacturing – product changes 3. Assembly – Two or more separate products are combined 4. Test – inspection/examination based on certain criteria

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O Conversion = fundamental change of the product (charcoal is burned into energy) o Manufacturing = no fundamental change of the material, only the shape changed (polishing charcoal)

Great variety of products, small quantity and confusing flow (ex: wedding cake) – Ex: “pair my ride” (specialized, different, neat cars; no two are the same)

Wide range of products, reasonable quantities and somewhat dominant mixed flow – Ex: Panera Bagels (standard but made-to-order process, no automatic assembly, but bagels can be the same as others made [same menu item])

A Small Business Is Defined As Quizlet

Low selection, high volume and dominant line flow – Ex: car assembly lines in the automotive industry; certain tools, everyone does something at their own station

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Commodity product with high volume, low variety and dominant flow – Ex: Oil refinery, milk production, difficult to define specific quantities of inputs

Capacity measured by inputs – no cost competition – separate process steps – common and versatile hardware – high WIP – small size; high flexibility; high concentration of labor

Capacity measured by outputs – cost competition – linked process steps – special equipment – low WIP – large size; zero flexibility; low workload

Conceptual design (concept design) – Product design (defined by market/required investments) – Product/process design (built prototypes) – Pilot production / ramp-up (tests + adjustments made)

Unit 5.6 Research And Development. Question Bank Diagram

It requires the use of cross-functional teams, takes into account customer needs/desires, provides a common basis/information for the development process, and the main tool is the House of Quality (see slides p. 64)

QFD’s holistic approach first takes the voice of the customer, overlays the business process methods, and then uses that combination to determine where it is in the market and how to proceed and customers cannot get the product they want at the price they want. fast, learn from mistakes quickly, adapt quickly

Product performance (does it meet customer needs?) – Speed โ€‹โ€‹of development (how quickly can we get it to market?) – Product cost (how much will it cost the CUSTOMER?) – Development cost (how much will it cost us?)

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A Small Business Is Defined As Quizlet

The goal is to shorten the queue, individual vs group expectations, customer control process and so the front end looks longer than the back end – Everyone sees time differently (idiosyncratic; one person might see a long queue while another thinks it’s a short queue from their perspective/personality) – see page 73 for a complete list of queuing issues

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Everyone thinks they’re an expert, what works for one may not work for anyone else, a mix of tangible and intangible things

Robotic process automation; removes much of the work from the diagram and replaces it with new technology – For example: agent chat boxes and a FAQ database with auto-answers

Should you wait in line when average capacity is greater than average arrival rate?

Yea; in some cases there are spikes in the arrival rate during peak times causing people to queue (but there is also a dip when people are not waiting in line)

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Get out of the queue (get out of the queue because it’s too long and you’ve waited too long)

Capacity: the ability to maintain, receive, store or accommodate – Strategic capacity planning: an approach to determining the general level of capacity for capital intensive resources (including facilities, equipment and total workforce size); used to meet forecast demand

How many people are in the queue? How long do they have to wait? – Remember that the queue formula is approximate because the queues are too complex to be exact

A Small Business Is Defined As Quizlet

Capacity utilized/best utilization – Multiply used capacity (utilization) by hardware + planning horizon manpower requirements to predict how much of each is needed – Try to keep human utilization at or below 70% (see page 88)

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Economies of scale (produce more products, lower unit cost) โ€“ Economies of scale occur when overutilization occurs and unit costs increase

Bottleneck o Defines system capacity (minimum production volume in the system) o Bottlenecks at different points in the same system can cause different outputs

Frequency of capacity additions (frequent and infrequent upgrade costs) – External sources of capacity (product subcontracting and capacity sharing)

No work is in progress – Use underutilization stages at a higher power than the bottleneck so you don’t overutilize the entire system and end up with too much WIP (need to maintain system balance)

Lecture #2 Flashcards Quizlet

1. Forecast sales within each individual product line 2. Calculate equipment and labor requirements to meet forecasts 3. Design equipment and labor availability in the planning horizon – See, for example, page 83

Multiply the amount of money at the end of the tree by the probability, add similar branches and compare with other branches – see figure on pages 85-87

The relationship between the processing time of a unit and the number of consecutive units processed – each time you complete a task, it takes less time because the repetition efficiency is higher, this reduction follows the formula

A Small Business Is Defined As Quizlet

Organizational learning – Changes in management, equipment and product design – Technology, equipment, training,

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