OPS 571 Final Exam Guide (New, 2018)
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OPS 571 Final Exam Guide (New, 2018)

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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

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