Midterm

Question 0

The 5 elements in the management process are:

Answer 0

D.

Planning, Organizing, Staffing, Leading, Controlling

Question 1

True or False?
Operations management (OM) is the set of activities that create value in the form of goods and services by transforming inputs into outputs.

Answer 1

True

Question 2

The 10 critical decisions of operations management include:

Answer 2

Process and capacity design

Question 3

Current trends in operations management include all of the following except:

Answer 3

All of the above are current trends.

Question 4

Which of the following attributes is most likely a service?

Answer 4

Production and consumption occur at the same time

Question 5

The service sector makes up approximately what percentage of all jobs in the United States?

Answer 5

79%

Question 6

Gibson valves produces cast bronze valves on an an assembly line. If 1600 valves are produced in an 8 hour shift the line is:

Answer 6

200 valves (1600/2)

2nd question 220 (1600/8 *.10) 10% increase

Question 7

Which productivity variable has the greatest potential to increase productivity?

Answer 7

Management

Question 8

Which of the following is not one of the phases of project management?

Answer 8

D.

All of the above are project management phases

Question 9

Which of the following statements regarding Gantt charts is true?

Answer 9

Gantt charts are visual devices that show the duration of activities in a project

Question 10

True or False?

Slack is the length of time an activity can be delayed without delaying the entire project

Answer 10

True

Question 11

The time am activity will take assuming unfavorable conditions is

Answer 11

Pessimistic time

Question 12

Forecast:

Answer 12

Are rarely perfect

Question 13

The two general approaches to forecasting are:

Answer 13

Qualitative and Quantitative

Question 14

Which of the following statements about time series forecasting is true?

Answer 14

It is based on the assumption that the analysis of past demand helps predict future demand

Question 16

The primary purpose of the mean average deviation (MAD) in forecasting is

Answer 16

To measure forecast accuracy

Question 17

True or False?

In the trend component is the slope of the regression equations

Answer 17

True

Question 18

The degree of strength of a relationship between two variables is shown by the:

Answer 18

Correlation coefficient

Question 19

For a given product demand the time series trend is 53-4x. The negative sign on the slope of the equation:

Answer 19

Is an indicator that product demand is declining

Question 20

True or False?
When using the low cost strategy for supply management the firm should invest aggressively to reduce production lead time

Answer 20

False

Question 21

True or False?

The object of the make or buy decision is to help identify the products and services that can be obtained externally

Answer 21

True

Question 22

A disadvantage of the few supplier strategy is

Answer 22

The high cost of changing partners

Question 23

A rice mill in South Louisiana purchases the trucking firm that transports packaged rice to distributors. This is an example of:

Answer 23

Forward integration

Question 24

A friend chicken fast food chain is acquired by feed mills and poultry farms had performed:

Answer 24

Backward integration

Question 25

Drop shipment

Answer 25

Means the supplier will ship directly to the end customer rather than to the seller

Question 26

True or False?
Barcode and radio frequency technology like that used to track UPS or FedEx shipments on their global journeys can also be used to track objects within the boundaries or warehouse or a shop

Answer 26

True

Question 27

E-procurement

Answer 27

Is the same thing as internet purchasing

Question 28

Which of the following distribution systems offers quickness and reliability when emergency supplies are needed overseas?

Answer 28

Airfreight

Question 29

Which of the following devices represents an opportunity for technology to improve security of container shipments?

Answer 29

All of the above

Question 30

Which time series model below assumes that demand in the next period will be equal to the most recent period’s demand?

Answer 30

Naive approach