The standard error of the estimate of a linear regression is not useful for judging the fit
between the data and the regression line when doing forecasts.
Answer:
The fact that organizations are flattening is one of the reasons that project management
is important.
Answer:
One of the drivers of the direct-to-store (direct distribution) approach is the upstream
migration of value-added logistics services.
Answer:
A favorable business climate in facility location decision-making might include
government legislation of tax abatements.
Answer:
“Quality at the source” requires factory workers to become their own inspectors.
Answer:
Delivering is not considered in supply chain analysis when outside carriers are
contracted to move products to customers.
Answer:
Measurement by attributes means taking a sample, measuring the attribute in question
and determining the level of quality in the population from which the sample was
drawn.
Answer:
An infinite population in waiting line management refers to a population that is large
enough in relation to the service system so that the change in population size caused by
subtraction or additions to the population does not significantly affect the system
probabilities.
Answer:
The sales and operations planning process is made up of a variety of analytical
techniques which interact to produce short and intermediate term goals.
Answer:
The aggregate operations plan is developed from the master schedule and the strategic
capacity plan.
Answer:
A financially-driven reason for outsourcing is that it can shorten cycle time.
Answer:
The fixed-order quantity inventory model is more appropriate for important items such
as critical repair parts because there is closer monitoring and therefore quicker response
to a potential stockout.
Answer:
You are using an exponential smoothing model for forecasting. The running sum of the
forecast error statistics (RSFE) are calculated each time a forecast is generated. You
find the last RSFE to be 34. Originally the forecasting model used was selected because
it’s relatively low MAD of 0.4. To determine when it is time to re-evaluate the
usefulness of the exponential smoothing model you compute tracking signals. Which of
the following is the resulting tracking signal?
A. 85
B. 60
C. 13.6
D. 12.9
E. 8
Answer:
Below are the data for a Time-Cost CPM Scheduling model analysis. The time is in
days and the costs include both direct and indirect costs.
What are the total time of this project and total normal cost?
A. Total time is 13 days, total cost is $1200
B. Total time is 12 days, total cost is $1700
C. Total time is 11 days, total cost is $1600
D. Total time is 10 days, total cost is $1750
E. Total time is 9 days, total cost is $1700
Answer:
Which of the following forecasting methodologies is considered a time series
forecasting technique?
A. Simple moving average
B. Market research
C. Leading indicators
D. Historical analogy
E. Simulation
Answer:
Which of the following is not an analytical tool used in six-sigma quality improvement
programs?
A. Flowcharts
B. Run charts
C. Control charts
D. Pareto diagrams
E. Decision diagrams
Answer:
In Hau Lee’s uncertainty framework to classify supply chains, a supply chain for
innovative products with an evolving supply process is called which of the following?
A. Efficient
B. Forward looking
C. Agile
D. Risk hedging
E. Responsive
Answer:
In most cases, demand for products or services can be broken into several components.
Which of the following is considered a component of demand?
A. Cyclical elements
B. Future demand
C. Past demand
D. Inconsistent demand
E.
Answer:
Current issues in OSCM do not include:
A. Coordinating relationships between organizations.
B. Making senior management aware that OSCM can be a competitive weapon.
C. The triple bottom line.
D. Managing customer touch points.
E. Increasing global supply chain employment.
Answer:
You would like to use the fixed-time period inventory model to compute the desired
order quantity for a company. You know that vendor lead time is 5 days and the number
of days between reviews is 7. Which of the following is the standard deviation of
demand over the review and lead time if the standard deviation of daily demand is 8?
A. About 27.7
B. About 32.8
C. About 35.8
D. About 39.9
E. About 45.0
Answer:
Which of the following is a possible source of bias error in forecasting?
A. Failing to include the right variables
B. Using the wrong forecasting method
C. Employing less sophisticated analysts than necessary
D. Using incorrect data
E. Using standard deviation rather than MAD
Answer:
A company wants to forecast demand using the weighted moving average. If the
company uses two prior yearly sales values (i.e., year 2012 = 110 and year 2013 = 130),
and we want to weight year 2012 at 10% and year 2013 at 90%, which of the following
is the weighted moving average forecast for year 2014?
A. 120
B. 128
C. 133
D. 138
E. 142
Answer:
Which of the following basic types of process structures is one which similar equipment
or functions are grouped together?
A. Project
B. Workcenter
C. Manufacturing cell
D. Assembly line
E. Continuous process
Answer:
You have just used the capability index (Cpk) formulas to compute the two values “min
[1, 1].” Which of the following is the proper interpretation of these numbers?
A. The TRUE capability index value is exactly 1
B. The mean of the production process has shifted to the left of the design limits
C. The mean of the production process has shifted to the right of the design limits
D. The mean has not shifted at all
E. None of the above
Answer:
When developing an operations and supply chain strategy, which of the following is an
important product-specific criterion to consider?
A. Technical liaison
B. Learning curve
C. Competitor’s product performance
D. Production lot-size
E. Total quality management
Answer:
The capacity focus concept can be put into practice through a mechanism called which
of the following?
A. Best operating level (BOL)
B. Plant within a plant (PWP)
C. Total quality management (TQM)
D. Capacity utilization rate (CUR)
E. Zero-changeover-time (ZXT)
Answer:
Standing in line to buy a ticket for a movie where there are multiple windows to buy
tickets is which type of queuing system line structure?
A. Single channel, single phase
B. Single channel, multiphase
C. Multichannel, single phase
D. Multichannel, multiphase
E. None of the above
Answer:
If the average aggregate inventory value is $4,000 and the cost of goods sold is
$104,000, what is the weeks of supply? _______________________
Answer:
If the best operating level of a piece of equipment is at a rate of 400 units per hour and
the actual output during an hour is 300 units, what is the capacity cushion?
__________________
Answer:
If inventory turnover is 20 and cost of goods sold is $100,000, what is the average
aggregate inventory value? _______________________
Answer:
Using the fixed-order quantity model, what is the total ordering cost of inventory given
an annual demand of 36,000 units, a cost per order of $40 and a holding cost per unit
per year of $45? ______________________________________________
Answer:
In acceptance sampling, how large is the effect of the size of the lot that the sample is
taken from on the size of the sample that should be drawn?
_______________________________________
Answer: