Process Measures: Basic Concepts and Definitions

by: Eric Svaan

Publication Date: December 11, 2012
Length: 4 pages
Product ID#: 1-429-247

Core Disciplines: Operations Management/Supply Chain

Partner Collection:

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Teaching Note

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Description

This note describes and defines concepts used by operation management professionals to categorize operations processes such as flow rate, Little’s Law, and inventory turns. Using this note, students can obtain a basic understanding of operation process terms.

Teaching Objectives

After reading and discussing the material, students should:

  • describe and define concepts used by operation management professionals to categorize operations processes such as flow rate, Little's Law, and inventory turns,
  • correctly aply these terms to describe conditions observed in an operations management environment,
  • evaluate case studies and situations where these concepts are observed.