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Math Formulas
Operations & Supply Chain Management
| Term | Definition |
|---|---|
| productivity = | output / input |
| labor productivity = | quantity or value of units produced / labor hours or labor cost |
| capacity utilization = | actual output / design capacity |
| efficiency rate = | actual output / effective capacity |
| total cost (TC) = | (VC)X + FC ----> variable cost x units produced + fixed cost |
| design capacity | is the maximum achievable output of a process or system |
| effective capacity | is the maximum capacity given the product mix, equipment changeovers, and scheduled downtime of the production schedule |
| capacity utilization | is a metric, or measure, used to determine how much capacity is actually being used on an average basis |
| simple moving average = | sum of units for each time period / the number of time periods |
| weighted moving average = | number of units for the time period x the assigned weight for the time period |
| run-out time = | current inventory / usage rate |
| run-out time | a method that can be used to determine which product should be produced next |
| cycle time = | working time per day / units required per day |
| cycle time | a measure of how often a particular product is made |
Created by:
drister05
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