OPERATIONS MANAGEMENT FUNDAMENTALS - Operational Challenges Due to Variability - Reducing Wait Times: Managing Customer Behavior

5 important questions on OPERATIONS MANAGEMENT FUNDAMENTALS - Operational Challenges Due to Variability - Reducing Wait Times: Managing Customer Behavior

True or False. Seasonality means predictable and variability means unpredictable.

True

True or False. In operations management, the variability due to small random fluctuations is the type of variability that of great interest because it is possible to reduce it.

True

It is a relative measure of variability that enables comparison across different scenarios.

Coefficient of Variation (CV)
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How to get the standard deviation of inter-arrival time?

Multiply CViat by the average inter-arrival time

Which part of the lesson will you see how to
  1. Calculate CViat
  2. Estimate average line length using Sakasegawa's formula and CViat.
  3. Use average line length to estimate average wait time with Little's Law.

Ops Mgmt Chapter 2, Lesson 4 (Reducing Wait Times: Managing Customer Behaviour)

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