Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

OM 300 > OM300Final > Flashcards

OM300Final Flashcards

1
Q

In work sampling- when should observations be taken?

A

At random time

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

Kanban is not associated with:

A

Increased material handling

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

Looking at vertical integration- when you consider backward integration you are

A

moving back in time (Apple going back to the orchard)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

Throughput measures the time:

A

that it takes to process one unit at a station.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

Which of the following is a visual signal at a machine that notifies support personnel about the machine:

A

Andon

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

In lean production- the term poka yoke means:

A

Fool Proof

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

Method that is specifically characterized by a focus on continuous improvement- respect for people- and standard work practiced?

A

Toyota Production System (TPS)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

To the operation manager- one beneficial use of inventory is:

A

to ensure that item cost is maximized.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

Ergonomics is the study of:

A

the human interface with the environment and machines.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

What is the cost to prepare a machine or process for production?

A

Setup Cost

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

In operations- VMI means:

A

Vendor Managed Inventory

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

What does the Japanese word Kanban mean?

A

Card

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

The term “3PL” stands for:

A

Third Party Logistics Company

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

In lean production- Gemba stands for:

A

Going to the source

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

Which labor standard process requires the most training and experience to execute properly?

A

Time Study

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

Characterized by continuous and forced problem solving via a focus on throughput and reduced inventory:

A

Just-in-time (JIT)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
17
Q

In lean production- Kaizen means:

A

continuous improvement

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
18
Q

The objective of supply chain management is to coordinate activities within the S.C. to maximize the S.C.’s ____________ _____________ and benefits to the ultimate consumer.

A

Competitive Advantage

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
19
Q

Never outsource your _________________; instead focus on them.

A

Core Competencies

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
20
Q

Situation in which suppliers compete with one another; greater responsibility:

A

Many Suppliers

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
21
Q

*Situation in which buyer forms strong intimate relationships with suppliers:

A

Few Suppliers

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
22
Q

Examples include Pepsi getting into bottling and Apple acting as a chipmaker but also a retail store owner.

A

Vertical Integration

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
23
Q

Developing the ability to produce goods or services previously purchased:

A

Vertical Integration

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
24
Q

Six Sourcing Strategies:

A
  1. Many suppliers 2. Few suppliers 3. Vertical integration 4. Joint ventures 5. Keiretsu networks 6. Virtual Companies
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
25
Q

Cooperation without diluting brand or conceding competitive advantage; formal collaboration.

A

Joint Ventures

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
26
Q

A middle ground between few suppliers and vertical integration; members expects long-term relationships and provide technical expertise and stable deliveries.

A

Keiretsu Networks

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
27
Q

Rely on a variety of supplier relationships to provide services on demand; exceptionally lean performance- low capital investment- flexibility- and speed.

A

Virtual Companies

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
28
Q

A risk of a supply chain is having fewer suppliers which _______________.

A

leads to increased dependence

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
29
Q

Companies reduce supply chain risk through risk and mitigation tactics such as:

A
  1. Prepared responses for negative events 2. diversified supplier base 3. Innovative Planning
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
30
Q

_______________- occurs when orders are relayed through the supply chain increasing at each step.

A

Bullwhip Effect

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
31
Q

One of the main opportunities for managing an integrated supply chain: Accurate _____ data:

A

Pull

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
32
Q

One of the main opportunities for managing an integrated supply chain:

A

Collaborative Planning Forecasting and Replenishment (CPFR)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
33
Q

The three negotiation methods to build a supply base:

A
  1. Competitive bidding 2. Cost-based price model 3. Market-based price model
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
34
Q

_________ management is frequently outsourced.

A

Logisitcs

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
35
Q

A warehousing technique that involves breaking up bulk:

A

Cross-docking

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
36
Q

__________ supply chain includes a proactive design of a supply chain that tries to optimize all forward and reverse flows; prepares for return prior to product introduction.

A

Return or Reverse logistics

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
37
Q

% Invested in Inventory =

A

(Total inventory investment/Total assets) x 100

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
38
Q

Formula: Inventory Turnover =

A

(C.O.G.S./Inventory Investment)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
39
Q

Weeks of Supply =

A

Inventory Investment/(Annual C.O.G.S./52 Weeks)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
40
Q

Objective of inventory management:

A

strike a balance between inventory investment and customer service.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
41
Q

ABC Analysis

A

Class A - high annual dollar volume Class B - medium annual dollar volume Class C - low annual dollar volume

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
42
Q

_______________ demand - the demand for item is independent of the demand for any other item in inventory

A

Independent Demand

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
43
Q

__________ - the demand for item is dependent upon the demand for some other item in the inventory

A

Dependent Demand

44
Q

_________ Costs - the costs of holding or “carrying” inventory over time.

A

Holding/Carrying

45
Q

_________ Costs - the costs of placing an order and receiving goods.

A

Ordering

46
Q

_________ costs - cost to prepare a machine or process for manufacturing an order

A

Setup

47
Q

*The Optimal Order Quantity is when Ordering Cost = _____________________

A

Holding Cost

48
Q

Optimal order quantity occurs when holding cost and ________ are equal.

A

Setup cost

49
Q

Q =

A

Number of pieces ordered

50
Q

Q* =

A

Optimal number of pieces per order (EOQ)

51
Q

D

A

Annual demand in units for the inventory items

52
Q

S =

A

Setup or ordering cost for each order

53
Q

H =

A

Holding or carrying cost per unit per year

54
Q

Formula: Annual Setup Cost =

A

(D/Q)S

55
Q

Annual Holding Cost =

A

(Q/2)H

56
Q

Q*=

A

=˚(2DS)/H

57
Q

d =

A

demand per day

58
Q

L =

A

lead time for a new order in days

59
Q

Formula: ROP =

A

d * L

60
Q

*Good production systems require that managers address three issues that are pervasive and fundamental to operations management:

A

Eliminate waste- remove variability- and improve throughput

61
Q

Lean operations are driven by “__________” customer orders.

A

Pulling

62
Q

JIT is a philosophy of continuous and forced _______ _____________ via a focus on throughput and reduced inventory

A

problem solving

63
Q

Waste is anything that does not add ____ from the customer point of view

A

Value

64
Q

Ohno’s 7 Wastes:

A
  1. Defective products 2. Overprocessing 3. Motion 4. Inventory 5. Transportation 6. Queues 7. Overproduction
65
Q

The 5Ss

A

Sustain/self-discipline - review Work and recognize progress 2. Standardize- remove variations from processes 3. Shine/Sweep- clean daily 4. Simplify/ straighten- methods analysis toold 5. Sort/ segregate- when in doudt- throw it out

66
Q

The problem with inventory is that it _________ variability

A

Hides

67
Q

___________ reduce shipping costs but increase inventory holding and do not reflect actual sales

A

Lot Sizes

68
Q

A sequence of kanbans

A

Pulls

69
Q

In lean quality- because lead times are shorter- quality problems are _______ ______.

A

exposed sooner

70
Q

Build an organizational culture and value system that stresses improvement of all processes- _________.

A

Kaizen

71
Q

Stopping the system because of a defect is called __________.

A

Jidoka

72
Q

_______________ walks to see work being performed; “where value is created”

A

Genba

73
Q

A supply chain ends with

A

A stisfied customer

74
Q

What is developing the ability to produce goods or services previously purchased or actually buying a supplier or a? distributor?

A

Vertical integration

75
Q

A lawnmower assembly plant uses a variety of? nuts- bolts-? screws- and other fasteners in its operation. Its supplier delivers these items directly to the point of use on the assembly line and ensures that there are always sufficient quantities of fasteners to maintain the production schedule.

A

Vendor Managed Inventory

76
Q

Three criteria for designing distribution networks to meet customer expectations? are:

A

rapid? response- low? cost- and service.

77
Q

Three common measures of supply chain performance? are:

A

percentage invested in? inventory- debt/equity? ratio- and weeks of supply.

78
Q

One use of inventory is

A

to provide a hedge against inflation.

79
Q

The objective of inventory management is to

A

strike a balance between inventory investment and customer service.

80
Q

Which of the following types of inventory describes inventory that has been purchased but not? processed?

A

Raw material inventory

81
Q

Policies based on ABC analysis might include investing

A

more in supplier development for A items.

82
Q

Which of the following does NOT belong to ordering costs?

A

Interest payments

83
Q

Which of the following does NOT belong to holding costs?

A

order processing

84
Q

What is the cost to prepare a machine or process for production?

A

Setup cost

85
Q

The difference between the basic EOQ model and the production order quantity model is that

A

the production order quantity model does not require the assumption of instantaneous delivery.

86
Q

Extra units that are held in inventory to reduce stockouts are called

A

Safety stock.

87
Q

Which of the following is NOT one of Taiichi Ohno’s seven wastes?

A

energy

88
Q

What is a concept that results in material being produced only when requested and moved to where it is needed just as it is? needed?

A

pull system

89
Q

What is the formula for determining the number of kanban cards or containers?

A

Demand during lead time + (Safety Stock/ Size of container)

90
Q

Which of the following is NOT a Lean inventory tactic?

A

use a push system to move inventory

91
Q

Which of the following words means continuous improvement in? Japanese?

A

Kaizen

92
Q

The Japanese call the practice of stopping production when a defect occurs

A

Jidoka

93
Q

JIT has an internal focus while lean production begins with an external focus on

A

Customers.

94
Q

Kaizen means

A

a focus on continuous improvement.

95
Q

Virtually every restaurant deals with its suppliers on

A

a JIT basis.

96
Q

The 4 main functions of Inventory:

A
  1. To hedge against inflation 2.To take advantage of quality discounts 3. To decouple or separate various parts of the production process 4. To provide a selection of goods for anticipated demand and To separate the firm from fluctuations in demand
97
Q

The 4 types of inventory:

A
  1. Finished goods 2.Maintenance/repair/operating (MRO) 3. Work-in-progress 4. Raw Materials
98
Q

1 of the 4 types of Inventory: Purchased but not processed -

A

Raw Material

99
Q

1 of the 4 types of Inventory: Undergone some change but not completed -

A

Work-in-progress

100
Q

1 of the 4 types of Inventory: Necessary to keep machinery and processes productive -

A

Maintenance/repair/operating (MRO)

101
Q

1 of the 4 types of Inventory: Completed product awaiting shipment -

A

Finished Goods

102
Q

Items are counted and records updated on a periodic basis; often used with ABC analysis

A

Cycle Counting
Has several advantages:
Eliminates shutdowns and interruptions
Eliminates annual inventory adjustment
Trained personnel audit inventory accuracy
Allows causes of errors To be identified and corrected
Maintains accurate inventory records

103
Q

Probabilistic models and Safety Stock are used when __________.

A

Demand is not constant or certain

104
Q

Kanban cards provide a ____________- control an limit on the amount of work-in-process between cells.

A

Direct

105
Q

Class A

A

High annual dollar volume

106
Q

Class B

A

Medium annual dollar volume

107
Q

Class C

A

Low annual dollar volume

OM 300 (1 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions