Operations Management Math Flashcards

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9 cards   |   Total Attempts: 197
  

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Cards In This Set

Front Back
What are the two Breakeven Point equations:
BEP= FC/ (REV – VC) Or BEP= FC/ (R-V) FC= fixed costs REV= V= VC= Variable costs
What are the two capacity formulas?
Efficiency= (Actual output/ effective capacity) X 100Utilization= (Actual Output/ Design Capacity) X 100
What is the formula to find the CYCLE TIME?
Cycle Time= Operating Time per day / Desired output rate
What formulas are used to find PROFIT?
Profit=Revenue – Cost OR Revenue – (Variable Cost + Fixed Cost) = Profit OR Cost volume analysis: Total cost: TC = FC+VC Total Variable Cost: VC = Q X v Total revenue= R X Q Contribution Margin: R –v or Revenue per unit – Variable cost per unitTotal Revenue: TR= R X Q
What are the formulas for finding Productivity?
Productivity = Output/input Or Increase in productivity = (current – Past) / Past
What formula is used to find the output rate?
Output= Operating time per day/ cycle time
What is the formula to find ROP?
ROP= d X LT d = demand rate LT= Lead time in days or weeks
What formula is used to find the safety stock?
ROP= Expected demand during lead time + Safety Stock Or ROP= Expected demand + ZOdLT Example: demand=50tons d= 5 tons error= .03 Risk 3 percent Service level 1.0 -.03= .97 or a Z of 1.88 Safety stock= ZO(d)LT or 1.88(5)= 9.40ROP= 50 tons + 9.40 = 59.40 tons
What formula is used to find the total revenue?
Total revenue= R X Q