1. What is project management? Why can it be important to Operations Management? Presuming you have arranged the tasks to be performed what's the "critical path" and why is it called the "critical" path? Why not "crash" all tasks? 2. Describe reorder point and the aspect of safety stock. Describe the impact of marketing demanding an increase in service level (considering the statistical approach used to determine safety stock, given demand variation) -- what will happen to the reorder point and safety stock and why? What does EOQ do for a business? 3. Describe the purpose of MRP and the how the MRP process works? (include BOM, grosset requirements, lot size, independent and dependent demand, projected demand, projected inventory, planned order receipt, and planned order release in your explanation). What can be considered a weakness of MRP? 1-2 paragraphs for each separate. 4. What is the main objective of work center schedule? How would you determine whether SOT (Shortest operating time) or EDD (Earliest due date first) a better approach? 5. In Goldratt's theory of constraints, why should management focus on the bottleneck? Describe techniques used to maximize use of a bottleneck operation. What does Goldratt think of excess capacity in the nonbottleneck operations? To optimize your total operation, what should be balanced and why? 6. What are 2 basic production planning strategies. What are the pros and cons of each approach. If your resources are highly skilled, which approach would be better? Why? If the cost of backordering or loss of a customer is significant, which approach should be better? Why? 1-2 paragraphs for each