Which forecasting method seeks to develop a consensus among a group of experts?
a) Market research
b) Executive opinion
c) Delphi method
d) Naïve method
e) Gamma method
If a company carries 13 weeks of supply, what is the inventory turnover?
a) 0.077
b) 4
c) 7.77
d) 676
e) 0.25
Which of the following is least likely to be considered a finite customer population?
a) subassemblies in a just-in-time manufacturing environment
b) fast food restaurant employees waiting to use the restroom
c) planes waiting to take off at an airport
d) customers in a grocery store
e) a class of 10 students who might visit their professor during office hours
A difficulty with back orders, even when the customer waits, can be
________________.
a) finding space to store the product
b) extra administrative costs
c) added inventory holding costs
d) possible deterioration of the product
e) that other customers will want back orders also
A short waiting line may result from all of the following except:
a) constant customer arrivals
b) excess capacity
c) exceptional server efficiency
d) demand surges
e) a properly designed system
Determining if the best financial opportunity is to have an individual perform the task
or automate the task is which of the following?
a) Technical Feasibility
b) Behavioral Feasibility
c) Activity Based Accounting Feasibility
d) Job Enrichment Feasibility
e) Economic Feasibility
In linear regression, what are we trying to forecast?
a) Beta parameter
b) Dependent variable
c) Independent variable
d) Y-intercept of the line
e) Slope of the line
Consider a periodic review system. The target inventory level is 1000 units. It is time to
review the item, and the on-hand inventory level is 200 units. How many units should
be ordered?
a) 800
b) 1000
c) 1200
d) the EOQ amount
e) the safety stock amount
Consider a single-line, single-server waiting line system. The arrival rate λ is 40 people
per hour, and the service rate µ is 80 people per hour. What is the average number of
customers in line?
a) 0.5
b) 0.025
c) 1.0
d) 0.0125
e) 20.0
In Excel, you can copy text labels by using the:
a) @
b) &
c) +
d) =
e) ‘“
The strength of the relationship between customer requirements and product
characteristics is shown in the __________ matrix.
a) Trade-off
b) Product
c) Relationship
d) Strength
e) Inverse
The master production schedule is shared:
a) only internally.
b) only with management.
c) only to marketing and engineering.
d) to all members of the executive team, exclusively.
e) to all members of the supply chain.
In calculating the estimated probability of completion value a negative number is
obtained. This means:
a) your calculation is wrong.
b) the project will be delayed.
c) the specified completion time is later than the expected completion time.
d) the specified completion time is earlier than the expected completion time.
e) the variance is incorrect.
Which product and service strategy has the longest delivery lead time?
a) assemble-to-deliver
b) make-to-stock
c) assemble-to-order
d) make-to-order
e) make-to-package
The following jobs need to be processed at J. J. Rupper’s work center.
In what sequence would the jobs be ranked according to the following rules: (a) FCFS,
(b) SPT, (c) LPT, (d) EDD?
Which functional group is not concerned with project management outcomes?
a) Marketing
b) Operations
c) Purchasing
d) Administration
e) Information Systems
Consider the following partial MPS record. Beginning inventory is 60 units. When
should the first MPS shipment be scheduled?
a) period 1
b) period 2
c) period 3
d) period 4
e) period 5
The range is an example of what?
a) Traditional statistical tools
b) Fishbone diagramming
c) Acceptance sampling
d) Experimental design
e) Statistical process control
Calculate the total cost to meet the demand using a level production plan with overtime.
Once overtime is approved the workers are on the job 12 hours each day for the full
period. Each unit that cannot be completed with a level product plan costs the firm
$150. Assume that the employees can only finish a whole unit and round up/down
accordingly.
a) $72,960
b) $73,460
c) $75,870
d) $76,800
e) $77,175
Which of the following is not a fixed cost?
a) land rent
b) materials
c) overhead
d) taxes
e) insurance
The Marketing Plan identifies all but which of the following:
a) targeted market segments
b) necessary market share
c) quality
d) flexibility
e) resources
A negative number in the available-to-promise row is ___________ a problem.
a) sometimes
b) always
c) usually
d) never
e) 25%
Traditional manufacturing operations are based on the assumption that
a) Overproduction is disastrous
b) Nice guys finish last
c) It is better to anticipate future requirements and plan for them
d) If you manufacture it, demand will increase
e) Inventory has no value
Slack can be calculated if _______________________.
a) infinite loading and finite loading are used together
b) infinite loading and forward scheduling are used together
c) finite loading and backward scheduling are used together
d) finite loading and forward scheduling are used together
e) forward scheduling and backward scheduling are used together
ISO 14000 standards provide guidelines for what?
a) business ethics
b) environmentally responsible actions
c) supplier certification
d) quality control
e) web site development
Ideally, a spreadsheet model should be ________________________
What is the ‘role’ of operations management?
What are the characteristics of the marketing plan?
What are the six steps to developing an effective spreadsheet model?
Consider a single-line, single-server waiting line system. Suppose that customers arrive
according to a Poisson distribution at an average rate of 50 per hour, and the average
(exponentially distributed) service time is 45 seconds per customer. What is the
probability that 4 customers are in the system?