Risk Management 2

Question 1

Purpose of the HR plan is..

Answer 1

to close the gap between demand and supply

Question 2

Different types of HR plans

Answer 2

~ recruitment
~ training
~ redevelopment 
~ productivity
~ redundancy
~ retention

Question 3

Operations 4Vs

Answer 3

Volume
Variety
Variation in demand
Visibility

Question 4

Types of capacity planning

Answer 4

~ lvl capacity plans
~ chase demand plan (e.g. JIT)
~ demand mgt planning
~ mixed plans

Question 5

Three elements of JIT

Answer 5

~ elimination fo waste
~ involvement of all staff
~ continuous improvement

Question 6

Level activity plan

Answer 6

maintain activity at a constant level

Question 7

Demand mgt planning

Answer 7

reduce peak demand by offering reduced off-peak prices

Question 8

Mixed plans

Answer 8

maintain small buffer of stock + mostly JIT

Question 9

Total Quality Management (TQM)

Answer 9

PERCEPT
Prevent mistakes
Right first time
Elimination of waste
Continuous improvement
Empowerment
Participation
Teamwork

Question 10

Purchasing mix

Answer 10

Quantity
Quality
Price
Delivery

Question 11

Name the four sourcing strategies

Answer 11

~ single (one source)
~ multiple (several sources)
~ delegated
~ mixed

Question 12

Sourcing strategies: Delegated

Answer 12

supplier given responsibility for delivery of complete sub-assembly