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BSOP-326 Total Quality Management - All 7 Weeks Discussions

BSOP-326 Total Quality Management - All 7 Weeks Discussions

Author: Irene A. Roseberry Roseberry

BSOP-326 Total Quality Management - All 7 Weeks Discussions

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W1 DQ1 What is Toatal Quality Management

W1 DQ2 A System Perspective

W2 DQ1 Dr. Deming's 14 Points

W2 DQ2 Quality Philosophies, Awards, and Standards

W3 DQ1 TQM Leaders

W3 DQ2 Who is the Customer

W4 DQ1 TQM & Teams

W4 DQ2 Employee Involvement

W5 DQ1 Cost of Quality

W5 DQ2 Supplier Relationships

W6 DQ1 Statistical Tools

W6 DQ2 Inspection & Process Evalutions

W7 DQ1 Implementing TQM

W7 DQ2 What is Six Sigma

on a weighted moving average applied to the following past demand data and using the weights: 5, 3, 1.5? (largest weight is for most recent data)

(TCO 3, 4, and 5) The XYZ Paint Shop owns and operates a dozen shops in southern Iowa. Their signature paint is black epoxy. Sales (X, in millions of dollars) is related to Profits (Y, in hundreds of thousands of dollars) by the regression equation Y = 6.321 + 0.65X. What is your forecast of profit for a store with sales of $25 million? $65 million? (Points : 30)

(TCO 6 and 7) A product is currently made in a job shop, where fixed costs are $4,500 per year and variable cost is $10 per unit. The firm sells the product for $70 per unit. What is the break-even point for this operation? What is the profit (or loss) on a demand of 220 units per year? (Points : 30)

(TCO 13, 14) XYZ coating company has reviewed four new processes for improving their coating line. The four processes, labeled A, B, C, and D use different technology and have different capacities. All the processes have the same level of production and the lifetime. The four states of nature represent four levels of consumer acceptance of the firm's products. Values in the table are net present value of future profits in millions of dollars. Forecasts indicate that there is a 0.4 probability of acceptance level 1, 0.3 chance of acceptance level 2, 0.6 chance of acceptance level 3, and 0.5 change of acceptance level 4………..Using the criterion of expected monetary value, which production alternative should be chosen? (Points : 30)


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