BA 628 Mod A,B and chp 11 Quiz – Flashcards

The text presents which two analytic tools to help with decision making? a. decision tables and decision networks b. decision tables and decision trees c. decision networks and decision trees d. decision networks and decision derivations

Which of the following comes EARLIEST in the decision- making process? a. develop specific and measurable objectives b. evaluate each alternative solution based on its merits and drawbacks. c. Implement and evaluate the decisions and then set a timetable for completion. d. Develop a model.

Which of the following is the 5th step in the decision-making process? a. Evaluate each alternative solution based on its merits and drawbacks b. Implement and evaluate the decisions and then set a timetable for completion c. Select the best alternative d. Develop specific and measurable objectives

Within decision-making theory, what is a relationship between objectives and variables? a. a model b. a path c. a link d. a match

What is a course of action or strategy that may be chosen by a decision maker? a. state of nature b. alternative c. mode d. mission

What is an occurrence or a situation over which the decision maker has little or no control? a. alternative b. state of nature c. chance event d. unactionable event

What decision tree symbol represents a state-of-nature node? a. triangle b. square c. circle d. trapezoid

What decision tree symbol represents a decision node? a. triangle b. square c. circle d. trapezoid

What is a tabular means of analyzing decision alternatives and states of nature? a. decision grid b. decision matrix c. decision tree d. decision table

What are listed down the left side of a decision table? a. outcome probabilities b. alternatives c. states of nature d. conditional values

What are listed across the top of a decision table? a. alternatives b. states of nature c. outcome probabilities d. conditional values

What is an alternative name for a decision table? a. decision grid b. outcome table c. decision matrix d. payoff table

What tool does American Airlines use to schedule flights? a. queuing analysis b. decision trees c. linear programming d. simulation

Linear programming is a mathematical technique designed to help operations managers plan and make decisions necessary to allocate:

Which of the following is NOT considered to be a resource for a firm? a. labor b. accounts payable c. machinery d. time

Which of the following would likely NOT represent an application of linear programming in OM? a. scheduling tellers at banks so that needs are met during each hour of the day while minimizing the total cost of labor b. scheduling school buses to minimize the total distance traveled when carrying students c. allocating space for a tenant mix in a new shopping mall so as to minimize revenues to the leasing company d. allocating police patrol units to high crime areas to minimize response time to 911 calls

What are the four requirements of a linear programming problem?

What is a mathematical expression in linear programming that maximizes or minimizes some quantity?

In linear programmin, what are restrictions that limit the degree to which a manager can pursue an objective?

If A,B, and C are variables, which of the following functions is NOT linear? a. A b. 2A+3B+6C c. 14A-4B+C d. ABC

Two or more products are produced using limited resources. The firm would like to determine how many units of each product it should produce to maximize overall profit given its limited resources. This situation describes what type of problem in linear programming?

In a typical product-mix problem in linear programming, the variables are defined as:

In a typical product-mix problem in linear programming, the objective is to:

In a typical product-mix problem in linear programming, each general constraints states that:

In linear programmin, what is a numerical value that is given in a model? a. parameter b. conditional value c. objective d. variable

In linear programming, what is another name for sensitivity analysis? a. regression analysis b. robustness analysis c. parametric analysis d. postoptimality analysis

What is the value of one additional unit of a scarce resource in LP?

What is the name of the algorithm that solves linear programming problems of all sizes?

Via computer, the simplex method methodically examines____ to search for the optimal solution of an LP problem.

A supply chain ends with...

Which of the following statements in NOT true? a. Supply chain management describes the coordination of all supply chain activities, starting with raw materials, and ending with a satisfied customer. b. A supply chain includes suppliers; manufacturers and/or service providers; and distributors, wholesalers, and/or retailers who deliver the product/ service to the final customer c. An increased sales effort may help a firm reach its profit goals more easily than would effective cost cutting d. The objective supply chain management is to coordinate activities w/in the supply chain to maximize the supply chain's competitive advantage and benefits to the ultimate consumer

Which of the following industries has the highest supply chain cost as a percentage of sales? a. metals b. petroleum c. restaurants d. automobile

A response strategy requires suppliers be selected based primarily on

Which of the following statements is NOT one of the differentiation strategy decisions? a. use buffer stocks to ensure speedy supply b. minimize inventory to avoid product obsolescence c. modular design to aid product differentiation d. gather and communicate market research data

Prior to embarking on supply chain design, operations managers must first consider:

Which of the following statements in NOT one of the response strategy decisions? a. gather and communicate market research data b. fast transportation c. low setup time d. use buffer stocks to ensure speedy supply

The advantage of having few suppliers is to..

The advantage of having many potential suppliers is their willingness to..

What is developing the ability to produce G&S previously purchased or actually buying a supplier or a distributor?

Which of the following strategies is part collaboration, part purchasing from few suppliers, and part vertical integration? a. keiretsu networks b. joint ventures c. virtual companies d. horizontal integration

Which of the following could reduce distribution risk? a. careful selection, monitoring and effective contracts with penalties b. use multiple suppliers c. cross-country diversification d. secure IT systems

Which of the following mitigation tactics could reduce economic risk? a. subcontractors on retainer b. purchasing contracts that address price fluctuations c. franchising and licensing d. multiple transportation modes and warehouses

Which of the following mitigation tactics is NOT designed to reduce the risk of information loss or distortion? a. training of supply chain partners on the proper interpretations and use of information b. secure IT systems c. alternate sourcing d. redundant databases

Cross- sourcing:

Bullwhip effect :

What is a long-term purchase commitment to a supplier for items that are to be delivered against short-term releases to ship?

What is the first stage of supplier selection?

Which negotiation strategy bases price on a published, auction, or index price? a. cost-based price model b. supply-based price model c. competitive bidding d. market-based price model

With regard to the cost-based price model negotiation strategy, prices are based upon...

Benefits accrued from a centralized purchasing function:

Trucking: a.is the least used transportation mode for manufacturing goods b. is one of the least flexible transportation modes c. is increasingly using computers to manage its operations d. does not play a role in multi-modal shipping.

Airfreight: a. is the oldest means of freight transportation b. represents about 10% of the tonnage shipped in the US c. is the best way to transport natural gas d. is a fast- growing mode of shipping

Supply chain managers outsource logistics to meet three goals:

Channel assembly:

Three criteria for designing distribution networks to meet customer expectations are:

Which of the following statements in NOT generally an implication stemming from an increase in the number of facilities? a. increased facility costs b. increased customer satisfaction c. quicker response d. decreased total logistics cost

When determining the optimal number of facilities, logistics- related costs do NOT usually include which of the following costs? a. purchasing b. transportation c. facility d. inventory

Top-notch chain performance requires good

Packaging and logistics are important distribution decisions because

Reverse logistics involves the process of

"closed- loop supply chain" is sometimes used as a synonym for:

Which of the following is NOT true about reverse logistics as compared to forward logistics? a. forecasting is more uncertain b. speed is often very important c. pricing is dependent on many factors d. distribution costs are less directly visible

what is a supply chain designed to optimize both forward and reverse flows? a. open- loop supply chain b. reverse-loop supply chain c. closed-loop supply chain d. bullwhip-loop supply chain

What organization has developed principles and standards to be used as guidelines for ethical behavior?

Three common measures of supply chain performance are:

The cost to produce the goods and services sold for a given period is referred to as :

% invested in inventory =

inventory turnover=

weeks of supply=

Capacity

Design Capacity

Effective capacity

Utilization

Efficiency

Capacity Analysis

Bottleneck

Bottleneck time

Throughput time

Theory of constraints (TOC)

Break-even analysis

Net present value

Virtual companies

Collaborative planning, forecasting, and replenishment (CPFR)

Single-Stage control of replenishment

Supply Chain management

Vertical Integration

E-procurement

Logistics management

Pull data

Linear programming (LP)

Objective function

Constraints

Graphical solution approach

Iso-profit line method

Sensitivity analysis

Maximax

Maximin

Expected monetary value (EMV)

Expected value of perfect information (EVPI)

Just-in-time (JIT)

Toyota Production System (TPS)

Lean operations

Seven wastes

5Ss

Variability

Manufacturing cycle time

Pull system

JIT partnerships

Consignment inventory

level schedules

Kanban

Kaizen

Material requirements planning (MRP)

Master production schedule (MPS)

Bill of material (BOM)

Modular bills

Planning bill (or kit)

Phantom bills of material

Low- level coding

Lead time

Gross material requirements plan

Net requirements plan

Planned order receipt

Planned order release

System nervousness

Time fences

Pegging

Buckets

Lot- sizing decision

Lot-for-lot

Periodic order quantity (POQ)

Material requirements planning II (MRP II)

Closed- loop MRP system

Load report

Distribution resource planning (DRP)

Enterprise resource planning (ERP)

Efficient consumer response (ECR)

Raw material inventory

Work-in-process (WIP) inventory

MRO

Finished-goods inventory

ABC analysis

Cycle counting

Shrinkage

Pilferage

Holding cost

Ordering cost

Setup cost (time)

Economic order quantity (EOQ) model

Robust

Reorder point (ROP)

Safety stock

Production order quantity model

Quantity discount

Probabilistic model

Service level

Single- period inventory model

Fixed-quantity (Q) system

Perpetual inventory system

Fixed- period (P) system

Within decision- making theory, what is a relationship between objectives and variables?

One use of inventory is:

The objective of inventory management is to

What are 3 types of inventory?

Which type of inventory describes inventory that has been purchased but not processed

ABC analysis divides an organization's on-hand inventory into 3 classes based upon:

Policies based on ABC analysis might include investing:

what goes into ordering costs?

What goes into holding costs:

What is the cost to prepare a machine or process for production?

Inventory control models assume that demand for an item is

What is a system for ordering items that have little or no value at the end of a sales period?

A single- period inventory model is applicable for

A system that triggers ordering on a uniform time basis is called

A system that keeps track of each withdrawal or addition to inventory continuously is

A fixed period system is appropriate when

The advantage and disadvantage of the fixed- period system is

assumptions of fixed- period systems

Benefits of MRP

MRP..

What is an information system for identifying and planning the enterprise wide resources needed to take, make, ship and account for customer orders?

Which of the following is NOT true? 1. Demand for items is dependent when the relationship between items can be determined 2. Less inventory frees up capital and floor space for other uses 3. For any product for which a schedule can be established, dependent techniques should be used. 4. For any product, some components of that product are independent demand items

What is a list of quantities of components, ingredients, and materials required to make a product?

what pieces of information are contained in a bill of material

What allows a segment of the master schedule to b designated as "not to be rescheduled?"

The operations manager has two important tools available to deal with MRP system nervousness. Those tools are:

MRP limitations

What is the lot-sizing technique that generates exactly what was required to meet the plan?

Which lot-sizing techniques is likely to prove the most complex to use?

what is a lot-sizing technique that orders the quantity needed during a predetermined time between orders?

EOQ

what provides feedback to the capacity plan, master production schedule, and production plan so planning can be kept valid at all times?

What sends a lot to two different machines for the same operation?

What is a report showing the resource requirements in a work center for all work currently assigned there as well as all planned and expected orders?

What is the act of breaking up an order and running part of it ahead of schedule?

What is a time-phased stock-replenishment plan for all levels of the supply chain?

Effective use of DRP requires:

The goal of a DRP system is

A bill of materials for a menu item in a restaurant is also called

Which of the following statements about DRP is NOT true? 1. DRP stands for distribution resource planning 2. DRP procedures and logic are analogous to MRP 3. Lead times are considered in DRP 4. DRP pushes inventory through the system

Which of the following is an advantage of ERP?

ERP:

Supply chain management systems in the grocery industry that tie sales to buying, to inventory, to logistics, and to production are called:

Which of the following is NOT one of Taiichi Ohno's seven wastes? 1. energy 2. queues 3. motion 4. transportation

If there is any distinction between JIT, TPS, and lean operations, it is that lean operations emphasize

The 5Ss developed by the Japanese do NOT include : 1. sort./segregate 2. standardize 3. simplify/ straighten 4. Safety

what is a concept that results in material being produced only when requested and moved to where it is needed just as it is needed?

What word means continuous improvement in Japanese?

Principles for standard work practice at Toyota:

The japanese call the practice of stopping production when a defeat occurs:

Features of Toyota's new Japanese plant?

JIT has an internal focus while lean production begins with an external focus on

Lean and sustainability both

Which of the following attributes is NOT for lean operations? 1. Develop partnerships with suppliers 2. Build systems that help employees produce a perfect product every time 3. Increase space requirements 4. Use JIT techniques to eliminate virtually all inventory

Which of the following activities does not need to be virtually eliminated for a lean organization? 1. material handling 2. inspection 3. cross-training 4. inventory

Services throughout the world use

Virtually every restaurant deals with its suppliers on

How has McDonald's driven seconds out of the production process to be able to produce made-to-order hamburgers in 45 seconds?

How do pharmacies implement lean operations to ensure that customers will always receive heir medications upon demand?

Which of the following approaches may use subcontracting to accommodate excess demand? 1. leading demand with incremental expansion 2. subcontracting should never be used to accommodate excess demand 3. leading demand with a on-step expansion 4. lagging demand with incremental expansion

Which of the following approaches makes a new capacity a larger increase at the beginning of the period? 1. lagging demand with incremental expansion 2. leading demand with a one-step expansion 3. attempts to have an average capacity that straddles demand with incremental expansion 4. leading demand with incremental expansion

In manufacturing, excess capacity can be used to

The most aggressive and risky approach to capacity planning is

A requirement to be able to compute expected monetary value is?

What does EMV stand for?