OPS 571 Final Exam Guide (New, 2019)
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Which of the following is a measure of operations and supply management efficiency used by Wall Street?
Dividend payout ratio
Earnings per share growth
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
Which of the following is a total measure of productivity?
Output/(Labor + Capital + Energy)
All of these
Which of the following approaches to service design is characterized by having the customer take a greater role in the production of the service?
Which of the following basic types of production layout formats is one that has similar equipment or functions are grouped together?
Production line layout
Group technology layout
Manufacturing cell layout
Assembly line layout
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.
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.
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, single phase
For an infinite queuing situation, if the arrival rate for loading trucks is 5 trucks per hour, what is the mean time between arrivals?
None of these
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.
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
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
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?
Which of the following is a fixed-time-period inventory model?
The EOQ model
Periodic system model
The Q model
The least cost method
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
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.
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.
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.
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.
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
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
Which of the following is not a problem definition tool from the operations consulting tool kit?
Five forces model
Which of the following is not one of the basic types of forecasting?
Time series analysis
Force field analysis
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?
C MAD = ABS[(124 - 120) + (126 - 120) + (135 - 130)]/3 = 15/3 = 5.
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.
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
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?
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
Which of the following is considered a primary report in an MRP system?
Cycle counting reports
Planned order schedules
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
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?
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