Module 11-12

Question 1

Scheduling

Answer 1

Last step in the process that begins with strategic planning and proceeds through increasing detailed stages

Question 2

To begin scheduling

Answer 2

Master schedule calls production of two different products during a particular time

Question 3

Capacity requirements planning CRP

Answer 3

Has been used to determine that insufficient capacity will exist in week 20 on the first work center for both parts

Question 4

Data collection

Answer 4

When data from order entry is combined with process data the following info about jobs, activities employees, equipment and facilities are available to prepare a schedule

Question 5

Order entry

Answer 5

Drives the scheduling process

Question 6

Make to order

Answer 6

Customer orders

Question 7

Make to stock

Answer 7

Produces for inventory, easier job of scheduling because of control over which products will be made

Question 8

Orders released for production

Answer 8

Planning process involves a continual movement from strategic plans for the distant future toward more detailed plans for less distant future

Question 9

6 criteria may be used when evaluating schedules

Answer 9

Provides goods/services when customer wants it
Flow time including processing/waiting
Level of work in progress inventories
Amount of time equipment is idle
Amount that employee are idle
Overall costs

Question 10

Impossible to satisfy all criteria management must choose trade-offs

Answer 10

True

Question 11

When choosing criteria organizations must consider

Answer 11

Corporate objectives
Competitive strategy
Capabilities

Question 12

Assembly line process

Answer 12

Products are discreet individual items such as auto cars
Workstations are integral part of fine-tuning the balance of a line through scheduling

Question 13

Sequencing

Answer 13

An assembly line is determining the order for making different products
Another characteristic associated with balancing an assembly line

Question 14

Hedge

Answer 14

Investment position intended to offset potential losses or gains that may be incurred by a companion investment

Question 15

Types of inventory

Answer 15

Raw materials
WIP
Finished goods
Replacement parts
Supplies
Transportation

Question 16

Perpetual inventory system

Answer 16

Continuously monitors inventory levels
Inventory transactions are recorded as they occur
Companies use barcodes for real materials and work in progress inventories to computerized inventory records

Question 17

Periodic inventory system

Answer 17

Design to place an order only when on hand inventory info is available and The supplier is willing to deliver when order window is open.

Question 18

ABC analysis

Answer 18

Determine which inventory items should receive the highest level of control

Question 19

ABC classification

Answer 19

Focusing efforts were the payoff is highest

Question 20

Ordering cost

Answer 20

Cost of replenishing inventory

Question 21

Changing over equipment from producing one item to another, can represent ordering cost

Answer 21

True

Question 22

Holding cost

Answer 22

Money to hold inventory

Question 23

Economic order quantity model

Answer 23

Basic approach to determine order quantity
Call to minimize the total annual cost of ordering and holding inventory by varying the order quantity
Only variable costs

Question 24

 EOQ occurs at the point where the total annual variable costs for holding inventory and ordering inventory coincide

Answer 24

True