TRUE/FALSE - supply chain research
(Multiple Choice – 2 pts each; Fill in the Blank/Short Discussion 2 pts unless otherwise noted)
1. _____________ methods of forecasting are based on best guesses, past experience, and other subjective methods.
2. An up-and-down, repetitive movement in demand over a lengthy time span is called a ________.
3. A gradual, long-term up or down movement of demand is called a ______________.
4. Forecasting is utilized in which of the following areas?
a) process design
b) product demand
c) new technology
d) all of the above
5. A gradual, long-term up or down movement of demand is called a(n)
a) cycle
b) seasonal pattern
c) trend
d) irregular movement
6. An up-and-down repetitive movement over a long period of time is called a(n)
a) cycle
b) seasonal pattern
c) trend
d) irregular movement
7. When a firm uses a level production strategy, the main costs will be in _____________.
8. The costs involved in using a chase strategy are mainly in ______________________.
9. Variations in demand can be met by all of the following except
a) using part-time workers
b) backordering
c) maintaining resources for high demand levels
d) All of the above are ways to handle variations in demand.
11. Under what circumstances is the EOQ computation not necessary?
12. All of the following statements concerning inventory management are true except
a) in the past, companies could afford to maintain generous inventory levels and not worry so much about cost
b) the cost of inventory has increased largely due to product obsolescence
c) the average cost of manufacturing goods inventory in the U.S. is about 30% of the value of the inventory
d) maximizing the amount of inventory has become an important objective of inventory management
13. Inventory costs for such things as rent, lighting, security, interest, and taxes are usually classified as
a) carrying costs
b) ordering costs
c) shortage costs
d) continuous costs
14. Which of the following is not an assumption of the basic EOQ model?
a) Demand is known with certainty.
b) Order quantity is received gradually over time.
c) Demand is relatively constant over time.
d) Lead time for receipt of orders is constant.
15. The individual most credited with the development of the just-in-time production system is
a) W. Edwards Deming
b) Y. Fujita
c) Taiichi Ohno
d) Hiroyuki Hirano
16. A marked area that will typically hold a small number of output items and is particularly helpful when two processes are located physically near each other is called a
a) signal kanban
b) kanban square
c) kanban post office
d) material kanban
17. In Japan, continuous improvement is called
a) jidoka
b) poka-yoke
c) kaizen
d) seiketsu
18. _________ involves producing only what is needed, when it is needed.
19. A buffer added to the inventory on hand during lead time is called
a) service level
b) safety stock
c) reorder point
d) stockout
20. The master production schedule (MPS) specifies
a) which components a firm is to produce
b) how many components are needed
c) when the finished product is needed
d) when the components are needed
21. Which of the following is the input that is said to "drive" the MRP system?
a) item master file
b) capacity requirements plan
c) master production schedule
22. The term that refers to how well a machine or worker performs compared to a standard output level is
a) utilization
b) capacity
c) efficiency
d) load profile
23. The term that refers to the percentage of available working time that a worker actually spends working or a machine is running is
a) utilization
b) capacity
c) efficiency
d) load profile
24. Typical ERP modules include all of the following except
a) finance and accounting
b) production and materials management
c) human resources
d) none of the above, they are all typical ERP modules
25. Materials requirements planning
a) is a precursor to ERP
b) was introduced in the 1960s
c) is still used today
d) all of the above
26. The taking of physical counts of at least some inventory items daily and reconciling differences as they occur is referred to as _________.
27. The percentage of available working time that a worker spends working or a machine is running is referred to as _________.
28. How well a machine or worker performs as compared to a standard output level is called ___________.
29. The scheduling and monitoring of day-to-day production of a job is called _________.
30. The process of assigning work to limited resources is referred to as _________.
31. The shop paper that specifies the sequences in which jobs should be processed is the _________.
32. The level of inventory at which a new order should be placed is called the
a) service level
b) safety stock
c) reorder point
d) stockout point
33. What is reverse logistics?
34. (5 Pts) How does Reverse Logistics impact other areas of operations such as forecasting, inventory management, warehousing?
35. (5 Pts) What impact does forecasting have on operations management?
36. (5pts) What is the difference between cycle counting and conducting a wall to wall annual inventory?
37. What is supply chain management?
38. (5 pts) Is Inventory a liability or an asset? Explain your answer.
39. (3 pts) According to The Forklifts Have Nothing To Do!, one study shows the cost of handling returns to be as high as $_____ per item.
40. (6 pts) Calculate the 3 month moving average forecast for September and the forecast error for MAR - AUG
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41. (optional) Did you get what you were looking for in this class?
42. (optional) Did the concept of posting the slides to the website assist in preparing for and following class discussions?
44. (optional) Was the Harley-Davidson plant tour beneficial?
45. (optional) How would you improve the course to make it better for future classes?
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