Question details

OPS571 Final Exam 2017 (A+++++ Answer)
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Question 1

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

Question 2

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

Question 3

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)

Question 4

Which of the following is a time-to-market performance measure used in judging product development performance?

Customer loyalty

Yield

Frequency of new-product introductions

Product reliability

Question 5

A major competitive dimension that forms a company’s strategic operational competitive position in their strategic planning is which of the following?

Straddling

Automation

Cost or price

Focus

Question 6

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?

Trust

Time

Task

Teamwork

Question 7

Which of the following is an alternative possible service encounter included in the service-system design matrix?

Face-to-face distance

Internet

Automated teller (ATM)

Questionnaire response

Question 8

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

Question 9

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?

20

30

5

27

Question 10

We would expect to see which of the following in an MRP system’s inventory status file?

Late/early delivery records

Labor efficiency

End items produced

Scrap parts

Question 11

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

Question 12

 

Capacity planning that involves hiring, layoffs, some new tooling, minor equipment purchases, and subcontracting is considered as which one of the following planning horizons?

Intermediate range

Current

Short range

Long range

Question 13

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

Question 14

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.

Question 15

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

Question 16

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?

$8,062.00

$4,031.00

$10,000.00

$9,376.50

Question 17

The objectives of work center scheduling include which of the following?

Avoiding tradeoffs

Providing variety to workforce

Following all the priority rules

Minimizing setup costs

Question 18

Which of the following is a multifactor measure of productivity?

Output/Inputs

Output/(Materials)

Output/(Labor + Capital + Energy)

Output/All resources used

Question 19

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
the line?

0.05

0.06

0.39

0.08

Question 20

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?

Inventory

Sales

Throughput

Net profit

Question 21

The Pareto principle is best applied to which of the following inventory systems?

ABC classification

Fixed-order quantity

Fixed-time-period

EOQ

Question 22

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

Question 23

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?

$500,000

$390,000

$250,687

$290,700

Question 24

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?

26

78

421

234

78 times 3=234

Question 25

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?

Matrix project

Task force

Functional project

Pure project

Question 26

Which of the following is a measure of operations and supply management efficiency used by Wall Street?

Earnings per share growth

Dividend payout ratio

Current ratio

Receivable turnover

Question 27

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

Question 28

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?

Pipeline

Highway

Rail

Water

Question 29

In development of an operations and supply chain strategy, which of the following may be an important product-specific criteria to consider?

Focus

Supplier after-sale support

Production lot size

Learning curve

Question 30

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

 

Available solutions
  • OPS571 Final Exam 2017 (A+++++ Answer)
    $25.00

    Question 1 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 Question 2 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 b

    Submitted on: 14 Jan, 2018 04:02:59 This tutorial has not been purchased yet .