Exam 1 Flashcards

1
Q

An operations and supply chain strategy must be integrated with the organization’s corporate strategy.

A

True

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2
Q

What is meant by the term “operations effectiveness”?

A

Performing activities in a manner that best implements strategic priorities at minimum cost

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3
Q

Which of the following is not a major strategic operational competitive dimension that forms a company’s competitive position?

A

Management acumen

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4
Q

A firm has to excel simultaneously on all competitive dimensions in order to achieve success.

A

False

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5
Q

Straddling strategy is risky, which occurs when a company seeks to match the benefits of a successful position while maintaining its existing position.

A

true

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6
Q

Which of the below supply chain strategies will be impacted most if inventory risks occur?

A

Lean Practices

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7
Q

Supply chain risk is the likelihood of a disruption that would impact the ability of a company to continuously supply products or services.

A

true

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8
Q

Productivity is a measure of how well a country, industry, or business unit is using its resources and it is a relative measure.

A

true

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9
Q

In a partial measure of productivity, the denominator of the ratio would include all resources used or all inputs.

A

false

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10
Q

In addition to economic prosperity and environmental Stewardship, social responsibility is the third aspect/criteria that is used to evaluate a firm. (T/F)

A

true

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11
Q

Time series forecasting models make predictions about the future based on analysis of past data. (T/F)

A

true

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12
Q

Which of the following is NOT one of the basic forecasting types discussed in our class meeting?

A

Force field analysis

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13
Q

In most cases, demand pattern for products or services can be broken down into several components. Which of the following is NOT considered a component of demand pattern?

A

past data

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14
Q

Cyclical influences are more difficult to determine because the time span may be unknown or the cause of the cycle may not be considered. (T/F)

A

true

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15
Q

In a forecasting model using a simple moving average, the longer the time span used for calculating the moving average, the closer the average follows volatile trends. (T/F)

A

false

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16
Q

Simple exponential smoothing forecasts always lag behind the actual occurrence but can be corrected somewhat with a trend adjustment. (T/F)

A

True

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17
Q

Which of the following forecasting methodologies can be used for causal relationship forecasting?

A

Linear regression

18
Q

Using the simple exponential smoothing model for forecasting, F_t = F_(t-1) + α(A_(t-1)-F_(t-1)), the smoothing constant alpha (α) determines the level of smoothing and which one of the following?

A

The speed of reaction to differences between forecasts and actual results

19
Q

Simple moving average, weighted moving average, and simple exponential smoothing are usually used for short term forecasting. (T/F)

A

True

20
Q

When it comes to measuring the forecasting model performance, smaller values of Mean Absolute Deviation (MAD) indicates a more accurate model. (T/F)

A

True

21
Q

The objective of strategic capacity planning is to provide an approach for determining the overall capacity level of labor-intensive resources.

A

False

22
Q

When evaluating capacity, managers need to consider both resource inputs and product outputs.

A

True

23
Q

The capacity utilization rate is found by dividing capacity used by best operating level.

A

True

24
Q

At some point, the size of a growing plant can become too large and diseconomies of scale become a capacity planning problem.

A

true

25
Q

The way to build in greater flexibility in your workers is to do which of the following?

A

Provide a broader range of training

26
Q

Which of the following is NOT one of the considerations in changing capacity?

A

immediate product demand

27
Q

A capacity cushion is the amount of capacity less than expected demand.

A

False

28
Q

Capacity flexibility means having the ability to rapidly increase or decrease production levels, or to shift production capacity quickly from one product or service to another.

A

true

29
Q

The capacity focus concept can be put into practice through a mechanism called which of the following?

A

Plant within a plant (PWP)

30
Q

In solving a decision tree problem, calculations start at the ends of the “branches” of the tree and work backwards to the base of the tree.

A

True

31
Q

One of the reasons that customer order decoupling point is strategically important is because it can affect the lead time to fulfill the customer’s order.

A

True

32
Q

A firm fills its customer’s orders from finished goods inventory. It is a:

A

Make-to-order

33
Q

Which of the below production strategies have the highest level of customization?

A

Engineer to order

34
Q

An example of an assemble-to-order firm is Dell computer.

A

true

35
Q

Engineer-to-order firms will work with the customer to design the product, and then make it from purchased materials and components.

A

True

36
Q

Which of the following basic types of facility layouts is the one where similar equipment or functions are grouped together?

A

Work Center

37
Q

One difference between an assembly line process flow and a continuous process flow is that on the assembly line the flow is discrete rather than continuous.

A

true

38
Q

Little’s law says there is a long-term relationship between the inventory, throughput, and flow time of a production system. The relationship is: Throughput rate = Inventory × Flow time.

A

False

39
Q

Total average value of inventory is the sum of the value of raw materials and finished goods inventory.

A

False

40
Q

In designing a production layout, a flexible line layout might have the shape of a “U”.

A

True