How can the Rate of Innovation be influenced?

Availability of funding to invest in development, Intensity of competition

Copyright won't protect...

An industrial/functional article, A name or title, An idea

The below diagram shows:

Periodic Review Inventory Management

Select the statements that highlight the advantages of supply chains

Encourage competition innovation throughout the supply chain, Benefits associated with quality, cost and delivery, Enhanced customer satisfaction by quality assurance

Select the following statements which are true for Continuous Review Inventory Management

Reorder size is constant and can be set at EOQ (Economic Order) quantity, Triggered by Inventory level

What does protecting a design cover?

The appearance of a product; its shape, colours, texture and materials

Which of the following is the definition of a company objective?

A milestone within the process of implementing your strategy

How long does copyright last for literary, dramatic, musical, artistic works and film?

Lifetime of the author + 70 years from death

Why might a company keep inventory?

To deal with break down situations in stages of operations, To allow operations to take advantage of short term opportunities, As insurance against uncertainty and variability

How can the activities of operations in the chain be improved to achieve agility?

Channel alignment in supply networks, E-enabled supply chains, to eliminate distortions in the supply chain, Improving operations efficiency and forecasting in supply networks

Select the statements which are true for Trademarks

Can be sold, Can be licensed for others to use, Can be cancelled in part

What are the risks of having too much inventory?

Innaccurate forecasting or sudden drop in demand, Theft and Fire inventory loss

The below figure shows

Continous Review Inventory Management

What are the properties of a "responsive" supply chain objective?

Fast Response, Low T/P time, Deployed inventory, flexibile suppliers

Which of the following criteria must be met for a design to be registered and protected?

Must be new, Must not have been previously available elsewhere in the world

Which is not an example of a way to experiment as an innovator?

Invest in many different products

Identify the methods for how a company can be "quick into market"

Identify the need for a product/ service, Develop the idea quickly using a parallel processes

The difference between Lean and Agile SCM is

Lean SCM emphasises efficiency and cost

Which of the following are two types of change in market?

Cyclical Changes, Structural Changes

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Operations Management Revision

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Answers

1
Design rights have protection which last
20 years
10 years
5 years
50 years
2
A trademark can potentially last forever
False
True
3
The longer a supply chain is the less severe the bullwhip effect is
False
True
4
How can the Rate of Innovation be influenced?
Availability of funding to invest in development
Intensity of competition
Undertake Architectural innovation, to link components together
Focusing on internal management and processes
5
Copyright won't protect...
An industrial/functional article
A name or title
Original music works
An idea
6
Throughput time is how fast good/services can move through the chain. It can be improved by reducingn time in inventory.
True
False
7
The statement "A vibrant higher education institution in the North West of England" is an example of a:
Vision
Objective
Mission
Strategy
8
Which of the following is phase 1?
Evaluation
Growth
Research
Speculation
9
A trademark must be renewed every 10 years
True
False
10
It is easy to develop effect SQA by multi-sourcing
True
False
11
Where on the diagram best highlights the properties of Lean Supply chain management ?
3
1
2
4
12
The below diagram shows:
Periodic Review Inventory Management
Continuous Review Inventory Management
Cyclical Review Inventory Management
Agile Inventory Management
13
Select the statements that highlight the advantages of supply chains
Encourage competition innovation throughout the supply chain
Improved control over processes
Benefits associated with quality, cost and delivery
Enhanced customer satisfaction by quality assurance
14
A buffer(safety) inventory is a stock kept to compensate for uncertainties with demand and lead time
False
True
15
Select the following statements which are true for Continuous Review Inventory Management
Reorder size is constant and can be set at EOQ (Economic Order) quantity
Triggered by Inventory level
The reorder level is amended to include the safety stock level
Triggered by time
16
What does protecting a design cover?
A business model, which has unique processes
The appearance of a product; its shape, colours, texture and materials
The functionality of the product/idea and how it works
All of the above
17
Over-reliance on single or few suppliers of raw materials and spare parts is an example of:
Supplier rivalry
Buyers bargaining power
Suppliers Bargaining power
Suppliers buyer power
18
Which skill do innovators socre most highly on?
Analysis Driven skills
Delivery Driven skills
Networking skills
Discovery Driven skills
19
Which of the following is not a market force?
New entrants
Suppliers Bargaining power
Substitute products or services
Customer wants
20
Calculate the missing final weighting
3.125
0.156
0.0125
0.0156
21
A transit/pipeline inventory is the products/materials that exist between different opeations in supply chain
True
False
22
The bullwhip effect occurs due to a long chain of operations reacting to the orders placed by immediate customers
False
True
23
A cycle inventory is used to allow work centres within the operation to operate relatively independently.
False
True
24
Which of the following is the definition of a company objective?
A milestone within the process of implementing your strategy
Physical resources and competencies you need to deliver results.
General statements on the things that need to be accomplished
Activties that will aid the achievement of a goal
25
How long does copyright last for literary, dramatic, musical, artistic works and film?
40 years, (50% average life expectancy)
Lifetime of the author + 70 years from death
Lifetime of the author
50 years, unless sold by author
26
Why might a company keep inventory?
To deal with break down situations in stages of operations
To reduce costs and risk
To allow operations to take advantage of short term opportunities
As insurance against uncertainty and variability
27
How can the activities of operations in the chain be improved to achieve agility?
Channel alignment in supply networks
E-enabled supply chains, to eliminate distortions in the supply chain
Improving operations efficiency and forecasting in supply networks
Using a dedicated supplier with emphasis on price stability and low cost
28
Items which must fit to other standard parts can be design registered
False
True
29
Delivery Driven skills involve associating, observing, questioning and detail-oriented implementing.
False
True
30
Which of the following activities is least associated with the "Speculation Phase" of Value Engineering?
Alternatives generation
Alternatives Ranking
Detailed Development
Brain Storming
31
Which is not an Innovator DNA skill?
Associating
Networking
Observing
Answering
32
In copyright, the author may exercise their moral right to be identified with the work
True
False
33
Strategy is one or more ways by which you can use the mission statement to achieve your vision
True
False
34
Select the statements which are true for Trademarks
Can grant automatic domain names on the internet
Can be sold
Can be licensed for others to use
Can be cancelled in part
35
What are the risks of having too much inventory?
Unable to compensate for differences between supply and demand
Price decline reduce company assists
Innaccurate forecasting or sudden drop in demand
Theft and Fire inventory loss
36
Group of organisations linked through up and down stream connections between their operations to produce value...
Supply Chain Management
Supply Chain
Supply Group Operations
Supply Network
37
Which of the following is not a type of innovation?
Process
Organisational and managerial
Commerical / marketing
Customer
38
The below figure shows
Cyclical Review Inventory Management
Continous Review Inventory Management
EOQ Inventory Management
Periodic Review Inventory Management
39
What form of IP protection protects the functionality, opeation, manufacture or material of a product or process?
Design
Trademark
Patent
Copyright
40
What are the properties of a "responsive" supply chain objective?
Price markdown, high variety, short lead time
Predictable, few changes, low variety, long lead time
Low Cost, High Utilisation, Minimum Inventory, Low-cost suppliers
Fast Response, Low T/P time, Deployed inventory, flexibile suppliers
41
Which of the following criteria must be met for a design to be registered and protected?
Must be new
Must be identifiable to consumers/informed users
Must use original materials and textures
Must not have been previously available elsewhere in the world
42
Registered designs are published and give selling/licensing rights to the owner
True
False
43
Core values are the way resources will be combined to deliver results in all endeavours
False
True
44
What are some goal setting approaches?
Enahnce customer satisfaction
All of the above
Improve brand awareness
Enhance customer satisfaction
45
Which is not an example of a way to experiment as an innovator?
Try out new experiences
Take apart product, process and ideas
Take ideas through pilot and prototypes
Invest in many different products
46
Identify the methods for how a company can be "quick into market"
Mitigate risk by waiting for competitors to push product first
Launch at a reduced price
Identify the need for a product/ service
Develop the idea quickly using a parallel processes
47
The difference between Lean and Agile SCM is
Lean SCM emphasises efficiency and cost
Agile SCM aims to improve end-consumer satisfaction
Lean SCM emphasises responsiveness and flexibility
Agile SCM emphasises process throughput and lean time
48
What product/service life cycle stage is often considered the costliest?
Maturity
Growth
Introduction
Decline
49
How long does a patent grant cover for?
maximum of 30 years
maximum of 20 years
maximum of 12 years
maximum of 5 years
50
A measure of the number of items that require re-manufacturing can be referred to as:
Repair rate
Corrective maintemance
Maintainability
Rework
51
Which of the following are two types of change in market?
Non-uniform Changes
Cyclical Changes
Structural Changes
Linear Changes
52
Vision is a generic statement for how you will achieve your mission
True
False
53
An anticipatory inventory is a stock that is held for known future peaks in demand
False
True
54
Select the statement which best describes a Trade mark
A certification given to an established company promoting identifiability
A form of protection applied for by a company to protect its assets
Consists of designs and schematics which distinguish a product or service
Consists of words, signs or graphics that distinguish a product or service
55
Copyright is a registered form of protection
False
True
56
For broadcasts (TV, radio) how long does copyright last?
40 years from when it is first broadcast
50 years from when it is first broadcast
40 years from when the idea is first procured
50 years from when the idea is first procured
57
What is the maximum amount of time a Design can be protected for in the UK?
10 Years
15 Years
25 Years
20 Years
58
What does Quality consist of?
Quality Assurance
Quality Management
Process optimisation
Quality Control
59
Which benefits would a buyer have by using a multiple source supplier?
High supplier commitment
Potentially better quality by SQA possibilities
Can switch sources in case of supply failure, at a low cost
High bargaining power by competitive tendering
61
Single sourcing has the potential to be affected by volume fluctuations and can exert an upward pressure on prices
True
False
62
Which of the following questions are an example of function analysis?
Is quality assurance for this item necessary?
What alternative item/methhod can equally achieve the desired outcome?
What must the item do?
How can the cost be reduced by adjusting quantities?
63
An item which is not visible to the user during normal use can be registered as a design
False
True
64
Sustainability: meeting needs of the present without compromising the ability of future generations to their own needs.
False
True
65
Copyright has to be applied for and can take time to be granted
False
True
66
Select the following statements about Supply chain agility which are true
Ability to cope with the nature of customer demand and supply capabilities
It is important to maintain high inventories in order to maintain delivery
Also referred to as Flexibility
It is highly dependent on client flexibility
67
Holding costs involve the following
Storage/warehouse costs
Process operations costs
Obsolescence costs
Working capital costs
68
Which product/service life cycle stage is an organisation most likely to compete with the highest number of substitutes?
Decline
Maturity
Introduction
Growth
69
Identify the Quality Control element
1
2
70
Which of these is/are least used to measure process reliability in operations management?
MTTF
MTBF
Failure rate
Repair rate
71
Which of the following is a method to mitigate suppliers' bargaining power?
Make your sector less attractive
Standardise products and processes
Market segmentation
Make your products unique
72
Inv. Management is satisfactory levels of customer service while keeping inventory costs within reasonable bounds
True
False
73
What form of IP protection protects original literary, dramatic musical and artistic works, sound recordings, films etc
Copyright
Trademark
Patent
Design
74
You don't need permission from the copyright owner before you can copy anything, copyright must end, or be sold first.
True
False
75
Improved Lead time in supply networks can be achieved by over-resourcing or over-stocking
True
False
76
Which of the following are the criteria for patentability?
Novelty and Inventiveness
Production viability and manufacturability
All of the above
Not an excluded category
77
The process of taking IPR and applying it commercially is called
Commercial Exploitation
Licensor IPR sale
Commercial IP transfer
Technology transfer
78
Which of the following is not a layer of strategy layer development?
Operational Strategy
Organisational Strategy
Institutional Strategy
Global Strategy
79
A work-in-process (WIP) inventory is:
A stock of completed products that is ready for a customer order
One stage in the process that cannot supply all it produces simultaneously
all materials,parts & subassemblies that are being/waiting to be processed
a stock of items that are used in the manufacturer's conversion process
80
Which International Standards Organisation (ISO) series deals with the Quality Management system?
ISO 9001
ISO 9003
ISO 9000
ISO 9002
81
Permission must be given and potential payment must be made in order to use a copyrighted idea
True
False
82
“At IBM, GBS is focusing on BPTS, using expertiseacquired from PwC" is an example of what barrier of communication?
Immediacy
Information relevance
Information overload
Semantics
83
The Board of Directors deciding to pay shareholders £1 dividend per share is an example of:
Bottom Up
Mixed
Not enough information
Top down
84
Value Engineering is a systematic framework for eliminating or reducing costs, by analysing function
False
True
85
Where on the diagram best highlights the properties of Agile Supply Chain Management?
2
3
1
4
86
Having a single source supplier is faster, simple, develops long term relations, less bargaining power of the buyer.
False
True
87
A large supply network may include hundred of supply chains
False
True
88
What are the disadvantages of patenting an invention?
Revealling information/know how
Cost of protection
Limited commerical gain
Time consuming
89
Design right is a non-registered foprm of protection against copying
False
True
90
Which of the following is not a definition of innovation?
"Theoretical conceptions + Technical invention + commerical explotation"
"Commerical and practical application of ideas or inventions"
"Creation of a new product, working with the commerical market"
"Successful exploitation of new ideas"
91
Ordering costs involve the following:
Working capital costs
Price discount costs
Placing order costs per transaction
Obsolescence costs
92
Identify the missing process
Waterfall
Parallel
Over the wall
Continuous
93
Identify the communcation functions
Control organisation members behaviour
Optimise product development by verbal and non-verbal communication
Provide a release for emotional expression
Foster motivation for what is to be done
94
A process that handles extremely low-volume and high-variety can be referred to as:
Batch process
Mass process
Jobbing process
One-off process
95
Which of the following is phase 2?
Development
Trade-off
Speculation
Analysis
96
For published editions, how long does copyright last for?
40 years from the first year which the edition was published
25 years from the first year which the edition was published
15 years from the first year which the edition was published
50 years from the first year which the edition was published
97
Designs which are dictated solely by their technical function can't be registered as a design
True
False
98
As the information richness increases, what is the more appropritate form of communication media?
Telephone conversations
Reports and bulletins
Pre-recorded speeches
Live conversation
99
The fraction of time that a process is unavailable for production can be referred to as:
Downtime
Turnover
Throughput
Cycle time
100
Select the statement which is true for Registered Trademarks
A registered trademark must have the symbol ® and ™ on the product logo
The word "Trademark" should appear on the product with the symbol ™
The word "Registered" should appear on the product or the symbol ®
The symbol ™ classifies the product as a registered trademark

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