question

- What is operations management:

answer

Activities that relate to the creation of goods and services through the translation of inputs to outputs

question

- A global view of operations and supply chain

answer

improve supply chain, reduce costs, improve operations, understand markets, improve products and attract and retain global talent

question

- Developing missions and strategies:

answer

differentiation, cost leadership and response

question

- Strategic planning, core competencies, and outsourcing: half of all outsourcing fails due to... potential risks include:

answer

Immediate rivals, potential entrants, customers, suppliers and substitute products

question

- The importance of project management:

answer

planning, scheduling and controlling

question

- Project scheduling: generally what a ghant chart is:

answer

planning chart used to schedule resources and allocate time. 4 purposes: it shows the relationship of each activity to others and to the whole project, it identifies the precedence relationships among activities, it encourages the setting of realistic time an cost estimates for each activity and it help make better use of people, money, material resources by identifying critical bottlenecks I nthe project

question

PERT:

answer

Program evaluation and review technique. A project management technique that employs three time estimates for each activity

question

- CPM:

answer

Critical path method. A project management technique that used only one estimate per activity

question

- Critical path:

answer

The computed LONGEST time path through a network

question

- What is forecasting?

answer

The art and science of predicting future events

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- Economic:

answer

Planning indicators that are valuable in helping organizations prepare medium to long-range forecasts

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- Demand:

answer

Projections of a company's sales for each time period in the planning horizon

question

- Technological:

answer

Long-term forecasts concerned with the rates of technological progress

question

- Quantitative:

answer

Forecasts that employ mathematical modeling to forecast demand

question

- Qualitative:

answer

Forecasts that incorporate such factors as the decision marker's intuition, emotions, personal experiences and value system

question

- Linear-regression analysis:

answer

A straight-line mathematical model to describe the functional relationships between independent and dependent variables

question

- Standard error of the estimate:

answer

A measure of variability around the regression line

question

- Coefficient of correlation:

answer

A measure of the strength of the relationship between two variables

question

- Coefficient of determination:

answer

A measure of the amount of variation in the dependent variable about its mean that is explained by the regression equations

question

- Multiple regression:

answer

An associative forecasting method with >1 independent variable

question

- Goods and services selection objective:

answer

To develop and implement a product strategy that meets the demand of the marketplace with a competitive advantage

question

- Product decision:

answer

The selection, definition and design of products. The four phases of the product life cycle are introduction, growth, maturity and decline

question

- Product development, quality function deployment:

answer

A process for determining customer requirements and translating them into attributes that each functional area can understand and act on

question

- Manufacture ability and value engineering:

answer

Activities that help improve a product's design, production, maintainability and use-

question

- Decision trees:

answer

?

question

- Quality:

answer

The ability of a product or service to meet customers needs

question

- American society for quality:

answer

Defines quality as the totality of feature and characteristics of a product or service that bears on its ability to satisfy stated or implied needs

question

- ASQ does this? True or false

answer

?

question

- Total quality management, six sigma:

answer

A program to save time, improve quality and lower costs. It describes a process, product or service with an extremely high capability

question

- Roll of inspection:

answer

A means of ensuring that an operation is producing at the quality level expected

question

- Source inspection:

answer

Controlling or monitoring at the point of production or purchase: at the source

question

- Attribute inspection:

answer

An inspection that classifies items as being either good or defective

question

- 4 process strategies:

answer

The objective of the process strategy is to build a production process that meets customer requirements and product specifications within cost and other managerial constraints

question

- 5 tools of process analysis:

answer

Flowcharts, time-function mapping, value-stream mapping, process charts and service blueprinting

question

- Service blueprinting:

answer

A process analysis technique that lends itself to a focus on the customer and the provider's interaction with the customer

question

- Strategic importance of location:

answer

The objective of location strategy is to maximize the benefits of location to the firm

question

- For industrial location decisions:

answer

The location strategy is usually minimizing costs

question

- For retail and professional service organizations:

answer

the strategy focuses on maximizing revenue

question

- Warehouse location strategy:

answer

May be driven by a combination of cost and speed of delivery

question

- Intangible costs:

answer

A category of location costs that cannot be easily quantified, such as quality of life and government

question

- Methods of evaluation location alternatives:

answer

1) develop a list of relevant factor called key success factors 2) assign a weight to each factor to reflect its relative importance in the company's objectives 3) develop a scale for each factor 4) have management score each location for each factor 5) multiply the score by the weight for each factor and total the score for each location 6) make a recommendation based on the maximum point score, considering the results of other quantitative approaches as well

question

- Types of layout:

answer

1) office: locate workers requiring frequent contact closest to one another 2) retail: expose customers to high-margin items 3) warehouse balance low-cost storage with low-cost material handling 4) fixed-position: move material to the limited storage areas around the site 5) process-oriented: manage varied material flow for each product 6) work-cell: identify a product family, build teams and cross train team members 7) product-oriented: equalize the task time at each workstation

question

- Human resource strategy for competitive advantage:

answer

Is to manage labor and design jobs so people are effectively and efficiently utilized

question

- Job design:

answer

Specifies the tasks that constitute a job for an individual or group

question

- Flow diagram:

answer

A drawing used to analyze movement of people or material

question

- Labor standards:

answer

The amount of time required to perform a job or part of a job. Set in 4 ways: 1) historical experience 2) time studies 3) predetermined time standards 4) work sampling

question

- Differences between PERT and CPM:

answer

PERT employs three estimates for each activity

question

- 3 major types of forecasts used by organizations in planning future operations are?

answer

Economic, demand and technological forecasting

question

- Which one is not one of the 6 sourcing strategies?

answer

Short-term relationships

question

- Outsourcing:

answer

All of the above, True

question

- Vertical integration:

answer

Developing the ability to produce goods and services previously purchased or actually buying a supplier or a distributer

question

- Forward integration:

answer

Establishing store/ buying the delivery truck

question

- Backward integration:

answer

A firm purchases its suppliers

question

- Bullwhip effect:

answer

when it occurs? All of the above or true

question

- Postponement:

answer

The delay of any modification or customization to a product as long as possible in the production process

question

- Distribution management focuses on:

answer

The outbound flow of final products

question

- Supply chain management ethical issues:

answer

All of the above are true

question

- Which term describes a supply chain that is designed to optimize both forward and reverse flows?

answer

?

question

- Which of the following is not one of the 5 parts of the supply chain operations reference score?

answer

Sell (plan, source, make, deliver and return) - Inventory: types

question

- Which of the following is an element of inventory holding costs?

answer

All of the above

question

- The purpose of safety stock:

answer

is to control the likelihood of a stock out due to variable demand

question

- EOQ- economic order quantity model:

answer

Is to minimize the sum set up cost and holding cost

question

- A bakery wants to determine how many trays of donuts it should prepare eachday, Demand is normal with a mean of 5 trays and standard deviation of 1 tray. If the owner wants service level of at least 95%, how many trays should they prepare?

answer

7 trays

question

- Which of the following would most likely fall under the scope of only the operations manager?

answer

Setting inventory levels

question

- Aggregate planning:

answer

3-18 months, intermediate range

question

- Disaggregation:

answer

Breaks the aggregate plan into greater detail

question

- What directly results from a disaggregation of an aggregate plan?

answer

A master production schedule

question

Which of these is among the demand options of aggregate planning?

answer

Backordering during high demand periods

question

- Which of the following aggregate planning strategies is known to lower employee morale?

answer

Varying work force size by hiring or layoffs

question

- In level scheduling, what is kept uniform from month to month?

answer

Production and workforce levels

question

- PROBLEM: Graph given, this company is preparing to aggregate its plan for the second half of the year. The table below contains monthly demand estimates and working days per month. Complete the table by computing total demand per day for each month and the average requirements in units per day in the 6-month planning horizon. Prepare a graph of forecast demand and level production, by months, for the planning period. Label clearly

answer

750 average time

question

- Revenue management is most likely used in which of the following:

answer

An airline attempting to fill "perishable" seats to maximize revenue

question

- Which of the following is specifically characterized by a focus on continuous improvement, respect for people and standard work practices?

answer

TPS Toyota production system

question

- 5 S's:

answer

All of the above.

question

- Which one of the following statements is true about the Kan Ban system?

answer

The customer work station signals to the supplier workstation when production is needed

question

- Difference between poisson and exponential distribution:

answer

In the analysis of queuing models, the poisson distribution often describes arrival rates and service times are often by the negative exponential distribution

question

- Queuing system or waiting line has 2 parts which are?

answer

1) arrival 2) queued is line or waiting in line itself 3) service facility

question

- Which of the following occurs as the level of service decreases (cost of waiting time)?

answer

The cost of waiting goes down as the service level increases

question

- Waiting line model, meeting the assumptions of MM1, has an arrival rate of 2 per hour and a service rate of 6 per hour. What is the utilization factor?

answer

.33 a waiting line model

question

- Little's law: Statements not included in little's law:

answer

cannot be applied to service operations

question

- MM1, MD2 differences

answer

??

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