Some Helpful YouTube Videos
Decision Trees: https://www.youtube.com/watch?v=jzoDKtnTPpg
Decision Trees Using POM QM Software: https://www.youtube.com/watch?v=Q2tJA29bA_M
Flowchart Diagram: https://www.youtube.com/watch?v=hN9xemJYwos
Create a Flowchart in Excel: https://www.youtube.com/watch?v=HSfYsmTVogw
Create a Flowchart in PowerPoint: https://www.youtube.com/watch?v=GsfZD4oU7l0
Create a Flowchart in Word: https://www.youtube.com/watch?v=hjhJ3-jSBM8
Fishbone Diagram: https://www.youtube.com/watch?v=JbRx5pw-efg
Pareto Chart: https://www.youtube.com/watch?v=gSy7KPfaA8g
Chapter 1: Read and watch the video case “Using Operations to Create Value at Crayola” on pages 29 & 30 of the textbook and answer the following questions. Video can be viewed at this link: https://mediaplayer.pearsoncmg.com/assets/d7Gx4xB5gWiU84Nuovm6mkCgmPWpJRm8
- Identify and state one of Crayola’s competitive priorities from the list presented in Table 1.3 on pages 12&13 of the textbook.
- Discuss Crayola’s capabilities to achieve the identified competitive priority.
- Discuss possible opportunities and/or challenges related to the identified competitive priority as Crayola expands internationally.
Supplement A: A production manager is evaluating the options of purchasing one machine or two machines to meet the increasing demand for one of their existing products. If he purchases one machine and demand proves to be excessive, the second machine can be purchased later. However, some sales will be lost because of the lead time for getting the second machine later. Additionally, the cost per machine will be lower if both are purchased at the same time. A consultant’s report indicates a 0.40 probability that demand will be low and 0.60 probability that demand will be high. The net present value of potential profits from purchasing the two machines together is $80,000 if demand is low and $160,000 if demand is high.
If one machine is purchased and demand is low, then the net present value of potential profits is $120,000. If demand is high, the manager has three options: doing nothing with a net present value of $100,000; subcontracting with a net present value of $140,000; and buying a second machine with a net present value of $120,000.
- Draw a complete decision tree for this question. Clearly present the decision and event nodes, the associated probabilities, and the payoffs.
- What should the manager do to achieve the highest expected profits? State all the decisions the manager needs to make to achieve the highest expected profits.
Chapter 2: Describe a process you are familiar with and draw a flowchart for the process. Make sure all the steps of the process and the arrows used to show the flow are clearly illustrated in your chart. See Figure 2.16 on page 82 of the textbook for an example.
Chapter 2: Think of a process problem that you have experienced and submit your answers to the following questions.
- Describe the process problem.
- Construct a cause-and-effect (fishbone) diagram showing the potential causes of the problem. The process problem you discussed in part a should be presented in the head of the diagram. Your diagram should include at least three major categories of potential causes (e.g., management, manpower, materials, etc.) and six specific causes. Make sure the causes are clearly stated. See Figure 2.13 on page 75 of the textbook for an example.
- Provide/create data for the number of occurrences of the specific causes you identified in part b and develop a Pareto diagram to prioritize the causes. Make sure your diagram shows ALL the specific causes (not the major categories). See Figure 2.12 on page 74 of the textbook for an example.
- Suggest process improvements that would eliminate/relieve the major cause of the problem as identified by your Pareto chart in part c (the cause that has the highest percentage of occurring).
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