1. Define decision trees and describe how they align with capacity management. Explain the concept of expected value as it relates to investment analysis. Discuss the approach to creating a decision tree and how expected value factors into the approach? Use a specific example to support your answer to this question. Explain how decision trees might be used by an operations or supply chain manager.
2. Explain the different forms of forecasting and the various types of quantitative forecasting models? Discuss the advantages and disadvantages of time series analyses along with the various methods of time series forecasting.
3. Explain linear regression analysis, and what is it used for in forecasting. Describe linear regression equation, and what each of the variables represent. Explain forecasting error and all the sources and measurements of error.
4. Link the concept of break-even analysis to cost minimization and profit maximization. Explain how production volume and capacity planning specifically affect break-even analysis and the costs that need to be factored with break-even analysis.
5. Describe how the service-system design matrix helps maximize the service encounter. Explain the queuing system and which one of the three types of service designs benefit the most from a queuing system. Articulate the type of forecasting distribution that works best for arrival rates of finite and infinite populations.
6. Define the concept of linear programming and its requirements. Describe all the ways in which linear programming can be used to address operational problems.
7. Explain the concept of critical path method (CPM) and how to calculate the critical path for a project? Describe how time-cost models impact a critical path assessment?
8. Describe the theory of constraints (TOC) and the principles at the core of the concept. Explain the various ways in which a company can manage a bottleneck, a constraint, or a capacity-constrained resource once it's been identified?
9. If you were asked by your supervisor or industry peer regarding the value you found in the class, what would be your response? Expand on why the areas you identified added value. How will you apply the concepts from the class into your job or company?