In business forecasting, what is usually considered a medium-term time period?
Six weeks to one year
One to six months
One to five years
Three months to two years
If a firm produced a standard item with relatively stable demand, the smoothing constant alpha (reaction rate to differences) used in an exponential smoothing forecasting model would tend to be in which of the following ranges?
20 to 80 percent
60 to 120 percent
5 to 10 percent
20 to 50 percent
A project starts out as which of the following?
A statement of work
A series of milestones
A latest-start-time estimate
Critical path method (CPM)
Which of the following is a time-to-market performance measure used in judging product development performance?
Frequency of new-product introductions
A major competitive dimension that forms a company’s strategic operational competitive position in their strategic planning is which of the following?
Cost or price
There are many applications of poka-yokes in service organizations. Which of the following is one of the three-T’s used to classify poka-yokes?
Which of the following is an alternative possible service encounter included in the service-system design matrix?
Automated teller (ATM)
Which of the following is a reason that firms must develop more new products than ever?
They are replacing old customers with new ones
Product life cycles are shorter
Commitments to joint venture partners
To amortize heavy investments in development labs
In setting up a kanban control system you need to determine the number of kanban card sets needed. If the expected demand during lead time is 25 per hour, the safety stock is 20 percent of the demand during lead time, the container size is 5, and the lead time to replenish an order is 5 hours, what the number of kanban card sets is needed?
We would expect to see which of the following in an MRP system’s inventory status file?
Late/early delivery records
End items produced
For which of the following should we use an R-chart to monitor process quality?
Student grades measured from 1 to 100
Deciding whether an airliner has sufficient fuel for its trip
Determining whether vehicles from a motor pool will run
Weighing trucks at a highway inspection station to determine if they are overloaded
Capacity planning that involves hiring, layoffs, some new tooling, minor equipment purchases, and subcontracting is considered as which one of the following planning horizons?
A material requirements planning system is an example of which of the following scheduling systems?
Finite loading, forward scheduling
Finite loading, backward scheduling
Infinite loading, forward scheduling
Infinite loading, backward scheduling
Which of the following is a major factor that distinguishes service design and development from manufacturing design and development?
The service process and service product can be developed independently.
The service package is the major output of the development process.
Manufacturing is far more capital intensive than services.
The service package has the same legal protection available to manufactured goods.
Which of the following is one of Dr. Eli Goldratt’s rules of production scheduling for optimized production technology?
Balance the capacities, not the flows
Do not allow bottlenecks to govern the flow of the line
An hour lost at a bottleneck saves an hour for the entire system
Utilization and activation of a resource are not the same
A company can produce a small lot of products the first time at a cost of $2,000. If their 85 percent learning curve allows them to reduce their costs on each lot, what is the total cost of producing 5 lots?
The objectives of work center scheduling include which of the following?
Providing variety to workforce
Following all the priority rules
Minimizing setup costs
Which of the following is a multifactor measure of productivity?
Output/(Labor + Capital + Energy)
Output/All resources used
You want to determine the upper control line for a p-chart for quality control purposes. You take several samples of a size of 100 items in your production process. From the samples, you determine the fraction defective is 0.05 and the standard deviation is 0.01. If the desired confidence level is 99.7 percent, which of the following is the resulting UCL value for
According to the theory of constraints, which of the following is a financial measurement that can be used to measure the firm’s ability to make money?
The Pareto principle is best applied to which of the following inventory systems?
The centroid method for plant location uses which of the following data?
Transport times between facilities
Correlation matrix of existing facilities
Volume of goods to be shipped between existing points
Inbound transportation costs
You are a consultant called in to estimate the costs after the employees learn how to do a job more efficiently by repetition of new product. You find a company can produce a product the first time at a cost of $5,000. If their 90 percent learning curve allows them to reduce their costs on each unit, what is the total cost of producing 100 units of the new product?
Assuming no safety stock, what is the reorder point (R) given an average daily demand of 78 units and a lead time of 3 days?
78 times 3=234
You have just been assigned to oversee a series of projects. Functional areas will loan you personnel for each project, and separate project managers will be responsible for separate projects. These project managers will report to you. Which project management structure is being used?
Which of the following is a measure of operations and supply management efficiency used by Wall Street?
Earnings per share growth
Dividend payout ratio
What is a work breakdown structure?
A Gantt chart
A definition of the hierarchy of project tasks, subtasks, and work packages
A list of the activities making up the higher levels of the project
A depiction of the activities making up a project
What transportation mode has very high initial investment costs but gives a very low cost per mile for products that are highly specialized and require no packaging?
In development of an operations and supply chain strategy, which of the following may be an important product-specific criteria to consider?
Supplier after-sale support
Production lot size
The ability to rapidly and inexpensively switch production from one product to another enables what are sometimes referred to as:
Economies of scale
Economies of scope
Economies of size
Economies of shape