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| Invented the steam engine |
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| invented the spinning ginny |
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| Division of labor/specialized tasks |
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| Interchangeable parts and invented the musket and cotton gin |
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| Father of scientific management. Believed there was one best way to do something, seperate duties between workers, spirit of cooperation, and piece rate system (maximizes output) "best way is fastest way" |
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| motion study/ use of industrial psych. |
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| invented the assembly line |
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| Invented way of scheduling called Gantt charts |
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| Elton Mayo and Fitz Roethlisberger |
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| Hawthorne studies on worker motivation what wanted to prove that poor working conditions reduced productivity |
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| Developed motivational theories |
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| added theory x and theory y |
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| took a control chart and came up with a way to drive quanity; developed statistical process control (STP) |
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| management process of use in production of goods and services |
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| Outputs that are physical, tangible |
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| Output that is intangible |
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| the difference between the cost of inputs and the value/price of outputs |
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| produced in large numbers but few products; the production cost is lower |
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| produces multiple products that are different to satisfy customers' needs. |
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| The measurement of productivity is greater in _______, and the labor content is greater in ________ |
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| Output that is intangible |
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| US had better technology and unions |
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| Statistic Processing Control |
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| Output/Input; is the measure of how effective we are utilizing our resources |
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| Our output is contrasted in terms of a single input. Ex: per hour (daily basis) |
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Use more then 1 input but not all of them (daily basis)
Output/ labor+materials+overhead |
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| Type of productivity that looks at all inputs (yearly) |
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| predicting what is going to happen in the future |
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| assume that what happened in the past will happen in the future |
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| True/False- Forecasts are rarely 100% accurate |
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| True/False- Forecasts for a group of items are more accurate then for one item |
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| True/False- Forecasting accuracy decreases as out time horizon increases |
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| upward/downward sloping of the database |
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| short-term, regular variations of the data that's associated with the calander year |
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| long-term variations that last longer then a year |
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| variations that occur becasue something happens out of the ordinary |
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| little variances in database that we expect |
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| Techniques that are touchy, feely, more subjective and judgemental |
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| Executive opinion, Delphi models, Salesforce opinions, and One-to-One Consumer Survey |
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| What are the 4 qualitative techniques? |
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| A qualitative technique that asks VPs to predict what they think the forecast will be |
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| A qualitative technique that sends out a questionaire and gather the information to make a forecast |
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| A qualitative technique that provides good information because they are in direct contact with the customer |
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| One-to-one Consumer Survey |
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| A qualitative technique that develops a questionaire with open and close ending questions |
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| Time-series models and Association models |
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| What are the 2 types of quantitative techniques? |
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| Naive model, Moving average, Weighted Moving Average, and Expoential Smoothing |
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| What are the 4 time-series models? |
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| Type of quantitative technique when data from one variable is used to preict another variable |
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| A forecast for any period that equals the previous period's actual value |
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| technique that averages the number of recent actual values |
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| Technique where more recent values in a series are given more weight in computing a forecast |
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| a weighted averaging method based on previous forecast plus a percentage of the forecast error |
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