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OPS 571 Final Exam Guide (Jan, 2019)

FOR MORE CLASSES VISIT www.ops571help.com Which of the following is a measure of operations and supply management efficiency used by Wall Street? Current ratio Receivable turnover Financial leverage Earnings per share growth Dividend payout ratio When a company seeks to match the benefits of a successful position while maintaining its existing position in offering customers a variety of differing services, what is this process called? Inter-functional analysis Order qualifying Order winning Straddling Operations capability analysis Which of the following is a total measure of productivity? Output/(Labor + Capital + Energy) Output/Labor All of these Output/Materials Output/Inputs In the service-system design matrix, a face-to-face total customization service encounter is expected to have which of the following? Low degree of customer/server contact None of these Low production efficiency High production efficiency Low sales opportunity We would expect to see in a manufacturing cell layout which of the following? None of these Long production setup times Large teams who collectively do a small part of a finished product A small team of workers who turn out complete units of work More inprocess inventory Which of the following is a major factor that distinguishes service design and development from manufacturing design and development? Capacity decisions are much more critical in manufacturing operations. Manufacturing is far more capital intensive than services. The service process and service product can be developed


independently. The service package has the same legal protection available to manufactured goods. The service package is the major output of the development process. The customer order decoupling point determines the position of what in the supply chain? Orders Transportation facilities Inventory Customers Manufacturing facilities Machine breakdown and repair in a 12-machine factory having one repair mechanic would develop which type of queuing system line structure concerning machine breakdowns? Single channel, single phase None of these Multichannel, single phase Single channel, multiphase Multichannel, multiphase Assume the service rate for a queue in a truckloading operation is 2 trucks per hour. Using the infinite queuing notion for the models presented in the textbook, which of the following is the average service time? 0.25 hour 0.5 hour 2 hours 1 hour None of these An assumption of learning curve theory is which of the following? Unit time will decrease at a decreasing rate. Unit time will hold constant. Unit time will increase at an increasing rate. Unit time will increase at a decreasing rate. Unit time will decrease at an increasing rate. The unit improvement factor for a 60 percent learning curve at 25 units is 0.0933. The first and second timings of a person doing a job are 5 minutes and 3 minutes respectively. Which of the following is the learning-adjusted time estimate for unit number 25? 0.0933 minute 9.33 minutes 3 minutes 4.665 minutes 0.4665 minute For which of the following should we use a p-chart to monitor process quality? Letter grades on a final examination Temperature of entrees in a restaurant Weight errors in cans of soup Errors in the length of a pencil Defective electrical switches You have been called in as a consultant to set up a Kanban control system. The first thing to do is to determine the number of Kanban card sets needed. Your research shows that the expected demand during lead time for a particular component is 150 per hour. You estimate the safety stock should be set at 25 percent of the demand during lead time. The tote


trays used as containers can hold 8 units of stock, and the lead time it takes to replenish an order is 2 hours. Which of the following is the number of Kanban card sets necessary to support this situation? 94 68 42 47 89 Which of the following is a fixed-order-quantity inventory model? P model Periodic replenishment model The ABC model Economic order quantity model Cycle counting model Using the fixed-order-quantity model, which of the following is the total ordering cost of inventory given an annual demand of 36,000 units, a cost per order of $80, and a holding cost per unit per year of $4? $1,889 $2,267 $849 $2,400 $1,200 Assume there are five jobs (i.e., A, B, C, D, and E) that need to be sequenced in a production schedule. The remaining operating time necessary for completion of job A is 4 days (i.e., job A will take 4 more days to complete), B will take 7 days, C will take 8 days, D will take 2 days, and E will take 5 days. Which job should be scheduled first if you use the SOT priority rule for job sequencing? E B C D A Which of the following is a "focusing step" of Dr. Eli Goldratt's theory of constraints? Reinforce system constraints. If you have no system constraints, make some. Identify system constraints. Reduce system constraints. Support system constraints In implementing a lean production system you should work with suppliers to do which of the following? Make frequent deliveries. Calculate lead times. Achieve bottom-round management. Freeze windows. Use quality circles. For an activity in a CPM analysis, the early finish time is 20 and the late finish time is 20. Which of the following statements is true? The slack for this activity is 20. The activity's late start must happen before its early start. The activity is on the critical path. The duration of this task is 20. The duration of this task is zero. You have been placed in charge of a large project. Shortened communication lines are required to ensure quick resolution of problems as they arise. You recognize that the project is going to take a lot of time and require a lot of team pride, motivation, and commitment by all


members. Which project management structure should you use in this situation? Pure project PERT Task force Functional project Matrix project Which of the following is not a principle of reengineering? Capture information many times, at the source and where it is interpreted. Treat geographically dispersed resources as though they were centralized. Merge information processing work into the work that produces the information. Link parallel activities instead of integrating their results. Organize around outcomes not tasks. Which of the following forecasting methodologies is considered a qualitative forecasting technique? Simple moving average Market research Exponential smoothing Linear regression Multiple regression A company wants to generate a forecast for unit demand for year 2014 using exponential smoothing. The actual demand in year 2013 was 120. The forecast demand in year 2013 was 110. Using these data and a smoothing constant alpha of 0.1, which of the following is the resulting year 2014 forecast value? 111 100 114 120 110 Maintaining a stable workforce working at a constant output rate while shortages and surpluses are absorbed by fluctuating inventory levels, order backlogs, and allowing lost sales is which of the following production planning strategies? Full employment Stable workforce, variable work hours Skill maintenance Level Chase What are two of the main objectives of ERP? Transaction processing and logistic optimizing Resource tracking and master schedule planning Product tracking and customer invoicing Transaction processing and decision support 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, which of the following is the capacity cushion? 133 percent 25 percent 100 units per hour 125 percent 75 percent Under the lot-for-lot (L4L) lot sizing technique as used in MRP, we would expect which of the following? A consistent lag of supply behind demand Minimized carrying costs Minimized setup costs


Minimized quality problems A just-in-time management philosophy A product tree can do which of the following? Help to compute component usage. Reduce product scrap. Reduce regular time labor. Locate raw material supplies. Reduce labor overtime. Very few products are moved without at least part of their journey being by which mode of transportation? Rail Highway Pipeline Water Air 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? Responsive Efficient Agile Risk hedging Forward looking 1. The total output from a production system in one day is 500 units and the total labor necessary to produce the 500 units is 350 hours. Using the appropriate productivity measure, which of the following numbers represents the resulting productivity ratio? 2. When a company seeks to match the benefits of a successful position while maintaining its existing position in offering customers a variety of differing services, what is this process called? 3. Which of the following is a measure of operations and supply management efficiency used by Wall Street? 4. Which of the following approaches to service design is characterized by having the customer take a greater role in the production of the service? 5. A difference between project and continuous flow categories of process flow structures is which of the following? 6. Which of the following is a characteristic that can be used to guide the design of service systems? 7. An advantage of a make-to-stock process is which of the following? It features rapid delivery of a standard product 8. Which of the following production process terms best describes the situation when activities in a stage of production must stop because there is no work? 9. For an infinite queuing situation, if the arrival rate for loading trucks is 5 trucks per hour, what is the mean time between arrivals? 10. An assumption of learning curve theory is which of the following? 11. A company's


production process has an 85 percent learning curve rate. The process has produced 1,000 units to date. A process refinement is estimated to allow a future learning curve rate for the identical product of 75 percent. However, the initial unit made using the new process will take the same amount of time as the very first unit produced using the old process. At what point, using the new process, will the production rate exceed the production rate achieved by the old process? 12. For which of the following should we use an R-chart to monitor process quality? 13. In setting up a Kanban control system you need to determine the number of kanban card sets needed. If assume the expected demand during lead time is 50 per hour, the safety stock is 20 percent of the demand during lead time, the container size is 4, and the lead time to replenish an order is 8 hours, what number of Kanban card sets is needed? 120 14. Using the ABC classification system for inventory, which of the following is a true statement? 15. A company is planning for its financing needs and uses the basic fixed-order-quantity inventory model. Which of the following is the total cost (TC) of the inventory given an annual demand of 10,000, setup cost of $32, a holding cost per unit per year of $4, an EOQ of 400 units, and a cost per unit of inventory of $150? 16. The assignment method is useful in solving scheduling problems that have which of the following characteristics? There are no jobs to be distributed to n machines or workers. 17. According to the theory of constraints, which of the following is an operational measurement that can be used to measure the firm's ability to make money? 18. Which of the following are related to lean production? 19. A simple project listing of five activities and their respective time estimates are presented here: Using CPM, which activities make up the critical path? 20. You have been placed in charge of a large project. Shortened communication lines are required to ensure quick resolution of problems as they arise. You recognize that the project is going to take


a lot of time and require a lot of team pride, motivation, and commitment by all members. Which project management structure should you use in this situation? 21. One of the principles of reengineering is which of the following? 22. Which of the following forecasting methodologies is considered a qualitative forecasting technique? 23. A company wants to forecast demand using the simple moving average. If the company uses three prior yearly sales values (i.e., year 2011 = 130, year 2012 = 110, and year 2013 = 160), which of the following is the simple moving average forecast for year 2014? 24. Which of the following is considered a "pure" production planning strategy? 25. What are two of the main objectives of ERP? 26. 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, which of the following is the capacity cushion? 27. If annual demand is 6,125 units, annual holding cost is $5 per unit, and setup cost per order is $50, which of the following is the EOQ lot size? 28. What are the three primary data sources used by the MRP system? 29. 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? 30. 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? =================================================== ================================

OPS 571 Final Exam Guide (New, 2019)

FOR MORE CLASSES VISIT www.ops571help.com


1. Which of the following is a measure of operations and supply management efficiency used by Wall Street? Dividend payout ratio Receivable turnover Current ratio Financial leverage Earnings per share growth 2. An activity-system map is which of the following? A diagram that shows how a company's strategy is delivered to customers A timeline displaying major planned events A network guide to route airlines A facility layout schematic noting what is done where A listing of activities that make up a project 3. Which of the following is a total measure of productivity? Output/Materials Output/Labor Output/(Labor + Capital + Energy) All of these Output/Inputs 4. Which of the following approaches to service design is characterized by having the customer take a greater role in the production of the service? Quality approach Self-service approach Production-line approach Do-it-yourself approach Personal-attention approach 5. Which of the following basic types of production layout formats is one that has similar equipment or functions are grouped together? Workcenter layout Production line layout Group technology layout Manufacturing cell layout Assembly line layout 6. Which of the following is a characteristic that can be used to guide the design of service systems? Services are all similar. Services cannot be inventoried. Services businesses are inherently entrepreneurial. Even service businesses have internal services. Quality work means quality service. 7. An advantage of a make-to-stock process is which of the following? All units of output are unique. It features rapid delivery of a standard product. It combines the best features of other processes. It responds directly to customer orders. It allows the firm to avoid inventory costs. 8. Getting an autograph from a famous person might involve standing in which type of queuing line structure? Single channel, single phase None of these Single channel, multiphase Multichannel, multiphase Multichannel, single phase 9. For an infinite


queuing situation, if the arrival rate for loading trucks is 5 trucks per hour, what is the mean time between arrivals? 2.5 hours 5 hours 0.2 hour 0.1 hour None of these 10. An assumption of learning curve theory is which of the following? Organizational learning is not included in learning theory. The time required to do a task will vary randomly each time the task is repeated. Unit time will decrease at an increasing rate. Learning will not be transferred from one worker to the next. The reduction in unit time will follow a predictable pattern. 11. A company's production process has an 80 percent learning curve rate. The process has produced 1,000 units to date. A process refinement is estimated to allow a future learning curve rate for the identical product of 75 percent. However, the initial unit made using the new process will take the same amount of time as the initial unit produced using the old process. At what point, using the new process, will the production rate exceed the production rate achieved by the old process? Before the 100th unit Before the 120th unit Before the 80th unit Before the 50th unit Before the 250th unit 12. For which of the following should we use a p-chart to monitor process quality? Grades in a freshman "pass/fail" course Temperatures in a classroom The dimensions of brick entering a kiln The weight of fluid in a container Lengths of boards cut in a mill 13. You have been called in as a consultant to set up a Kanban control system. The first thing to do is to determine the number of Kanban card sets needed. Your research shows that the expected demand during lead time for a particular component is 150 per hour. You estimate the safety stock should be set at 25 percent of the demand during lead time. The tote trays used as containers can hold 8 units of stock, and the lead time it takes to replenish an order is 2 hours. Which of the following is the number of Kanban card sets necessary to support this situation? 42 68 89 47 94 14. Which of the following is a fixed-time-period inventory model? Just-in-time model The EOQ model Periodic system model The


Q model The least cost method 15. A company is planning for its financing needs and uses the basic fixed-order-quantity inventory model. Which of the following is the total cost (TC) of the inventory given an annual demand of 10,000, setup cost of $32, a holding cost per unit per year of $4, an EOQ of 400 units, and a cost per unit of inventory of $150? None of these $1,501,600 $1,498,200 $499,313 $500,687 A. $1,501,600 Q = 400. Average Inventory = Q/2 = 200. Holding cost/year = $4. Thus, annual holding cost = $800. Annual set-up cost = 10,000/400 = 25 x $32 = 800. Demand x cost per unit = 10,000 x $150 = 1,500,000. Hence, TC = $1,500,000 + 800 + 800 = $1,501,600. 16. Which of the following is a principle of work center scheduling? Reschedule every day. Once started, a job can and should be finished even if unavoidably interrupted. Assign the first worker to all of the days that require staffing. Achieve certainty in standards and routings. Give work centers less to do then their maximum. 17. Which of the following is a "focusing step" of Dr. Eli Goldratt's theory of constraints? Identify system constraints. Support system constraints. If you have no system constraints, make some. Reduce system constraints. Reinforce system constraints. 18. In designing a lean production facility layout, a designer should do which of the following? Locate flexible workstations offline. Balance capacity using job shop analysis. Design for work flow balance. Always keep operations on a single floor of the factory. Link operations through a push system. 19. A simple project listing of five activities and their respective time estimates are presented here: Using CPM, which activities make up the critical path? None of these A, B, D, E A, D, E A, C, B, D, E A, C, D, E 20. A company must perform a maintenance project consisting of seven activities. The activities, their predecessors, and their respective time estimates are presented here: Using CPM, which activities make up the critical path? A, C, B, F, E None of these A, B, D, F, G A, C, E, F, G A, D, E 21. Which of the following is not a


problem definition tool from the operations consulting tool kit? Issue trees Five forces model Computer simulation Customer surveys Gap analysis 22. Which of the following is not one of the basic types of forecasting? Simulation Causal relationships Qualitative Time series analysis Force field analysis 23. A company has actual unit demand for three consecutive years of 124, 126, and 135. The respective forecasts for the same three years are 120, 120, and 130. Which of the following is the resulting MAD value that can be computed from these data? 3 1 15 123 5 C MAD = ABS[(124 - 120) + (126 - 120) + (135 - 130)]/3 = 15/3 = 5. 24. From an operational perspective, yield management is most effective under which of the following circumstances? Inventory is perishable. The firm doing yield management is very profitable. Demand cannot be segmented by customer. Fixed costs are low, and variable costs are high. The customer is a "captive" of the system. 25. What is transaction processing? The decision support system used to efficiently handle multiple transactions The movement of paperwork through a system using a decision tree The scheduling of machinery to minimize time and scrap The posting and tracking of the detailed activities of a business 26. If the actual output of a piece of equipment during an hour is 500 units and its best operating level is at a rate of 400 units per hour, which of the following is the capacity utilization rate? 0.75 1.00 1.25 1.33 100 27. Which of the following is an input to the master production schedule (MPS)? Planned order schedules The bill of materials The aggregate plan The exception report Inventory records file 28. Which of the following is considered a primary report in an MRP system? Cycle counting reports Performance reports Planned order schedules Planning reports Exception reports 29. The centroid method for plant location uses which of the following data? Probabilities and payoffs Correlation matrix of existing facilities Volume of goods to be shipped between existing points Inbound transportation costs Transport times between


facilities 30. In Hau Lee's uncertainty framework to classify supply chains, a supply chain for functional products with an evolving supply process is called which of the following? Responsive Forward looking Efficient Risk hedging Agile 1. Identify a disadvantage of implementing group technology in a firm. The number of employees required for a process increases exponentially. The workers must be flexible enough to run several machines and processes. It increases inventory. The waiting time between operations is increased. 2. A shopkeeper purchases raw materials to manufacture souvenirs for a local event that happens once every five years. In this case. identify the model that the shopkeeper is most likely to use to maintain stock. Lot sizing model Fixed—time period model Fixed—order quantity model p. Single-period model 3 Define synchronous manufacturing as stated by Goldratt's theory. It is a production process organized to achieve the goals of the firm. It is an integrated set of activities designed to achieve high quality and high levels of production with minimal inventories of raw materials. It is a production process in which machines are the critical resource used for scheduling. It is the optimization of the rate at which cash is generated by production through sales. 4. involves testing random samples of the end product from a process to determine if the process is churning out items within the predetermined range. Organizational leaming Statistical process control Cyclical strategic scheduling Event simulation 5. Utilization is the ratio between the actual amount of time a resource is activated for and the total amount of time the resource is available for use. Utilization Lead time Service rate Pacing 6. The manager of a shop floor schedules production based on the equipment that are used in the process as a key resource. In this case. the manager is most likely using a backward scheduling forward scheduling machine-limited process labor-limited process 7 Define lead time. It is the time required to achieve high customer service with minimum levels of inventory


investment. It is the time required to produce a variety of products typically at lower volume levels. It is the time required to attend to a customer order. It is the time required to position inventory in the supply chain. 8. refers to the integrated activities designed to achieve high quality and high levels of production with minimal inventories of raw materials and to eliminate wastes. The Shingo system Kanban system Lean production Process mapping 9. Define preventive maintenance. It is the grouping of similar parts and processes into a specialized workcell. It is the improvement that stems from both a person's experience and the changes in equipment. product design. and administration. It is the periodic inspection and repair of equipment to avoid breakdowns. It is the emphasis of getting a product or a process right the first time. 10. shows the relationship between the total number of units produced and the unit production tim A Poisson distribution A learning curve Cycle time Service rate 11 Identify a true statement about services. A service is a tangible process. A service is inherently heterogeneous A service has physical dimensions. A service has very limited or no customer interaction. 12. In a the product remains in a specific location and the equipment labor and material required for the product are gathered to the specific location project layout functional layout manufacturing cell workcenter 13. Rachel performs an analysis in which she analyzes the performance of the clients of her organization relative to the expectations of the client's customers. In this scenario. Rachel is most likely using a Pareto analysis gap analysis Gantt chart bar chart 14. is the design operation and improvement of the processes that create and deliver a company's essential products and services. Inventory control Operations and supply chain management Product routing Aggregate sales and operations planning 15. determines the amount of inventory, which includes parts. components. and materials. necessary to produce a product Break-even analysis Dynamic programming Material


requirements planning GAP analysis 16. Define customer order decoupling point. It involves the analysis of current business data to better solve business problems using mathematical calculations. It is the time required to attend a customer order. It is the positioning of inventory in a supply chain. It illustrates the method by which a company's strategy is delivered through a set of supporting activities. 17. Define waste reduction. It is the process of combining the concept of cross-docking and consolidation. It is the elimination of non—valueadding activities and the optimization of value-adding activities that are part of a process. It is the optimization of the rate at which cash is generated by production through sales. It is the integration of activities to increase the customer value of a process. 18. Identify the true statements about the learning curve theory. It assumes that the unit time for a task will decrease at a decreasing rate. A drawback of the learning curve theory is that the performance can be measured only in terms of time per unit. In a learning curve. the time for task completion will increase each time the task is undertaken. In a learning curve the reduction in time will be unpredictable. 19. is the characteristics of a product in terms of quality that are sorted as either conforming or nonconforming to specification. The capability index A throughput rate A learning curve An attribute 20. Identify a true statement about an operations consulting process. Its results are immediately measurable. It leads to changes in attitudes and culture of an organization. Unlike general management consulting. operations consulting does not require extensive interviewing of employees. It takes a longer time than general management consulting to yield results that can be measured. 21. Identify a true statement about water transportation mode. It is a highly specialized mode of transport limited to the delivery of gases- Moving high volumes of products is costly. It can handle a high capacity of materials. Fast transit times can be achieved in this mode of


transportation. 22 A pharmaceutical company keeps detailed documentation of its inventory. The company replenishes its inventory whenever the inventory level falls below a certain limit and there is a threat of a stockout. This company is most likely using a model. fixedorder quantity fixed-time period regression single-period 23. According to Goldratt's definition, is the rate at which cash is generated by production through sales. expediting throughput productivity cash flow 24. Identify an advantage of pure projects. Team pride, motivation, and commitment are high. Team members have authority over the project. Organizational goals and policies are upheld. Duplication of resources is eliminated 25. are used for decisions that are related to aggregate and strategy demand- Process assessments P-models Periodic review systems Strategic forecasts 26. Identify a disadvantage of pure projects. Equipment and people are not shared across projects. A lot of time is consumed while making decisions. Lines of communication are lengthened. The project manager has no authority over the project. 27. is responsible for scheduling, dispatching, monitoring, and regulating production on the shop floor. Manufacturing execution system P-model ABC classification Enterprise resource planning 28. is the average time required to finish a cycle of an operation. Cycle time Lead time Queue time Changeover time 29. A manufacturing firm efficiently assembles an airplane by bringing all the necessary raw materials, parts, and equipment to a central location. This scenario illustrates a functional layout workcenter manufacturing cell project layout 30. The main objective of the aggregate operations plan is to: achieve better integration between suppliers and manufacturers. minimize the cost of resources necessary to meet demand. determine future demand with the help of past data. keep demand and supply in balance. ===================================================================================

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__This course provides a wide range of university students-centered service

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