"In JIT systems, the difference between pull and push methods is?"

Pull reacts to demand, Push forecasts demand

"What is the Time Series method used for in forecasting?"

Predicting trends based on historical data

"Economic Order Quantity (EOQ) is used to?"

Calculate the lowest inventory cost

"What characterizes a Naïve Forecast in operations management?"

Assumes future equals most recent data

"What is a Weighted Moving Average used for in forecasting?"

Focusing on recent data with assigned weights

"What is the main goal of Poka-Yoke in manufacturing?"

Fail-safe to minimize human error

"What is the core principle of Just-In-Time (JIT) philosophy?"

Minimize waste, maximize efficiency

What does an Andon system primarily indicate?"

Signals problems or irregularities

"In inventory management, 'Shrinkage' refers to?"

Loss of inventory due to theft, damage, or errors

"What is the main function of a Kanban system?"

Signal the need for parts or materials

"What does Jidoka principle emphasize in manufacturing?"

Stop and fix problems immediately

"What does Exponential Smoothing mainly involve in forecasting?"

Increasing weight to more recent data

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Review Quiz for Final exam

17 termsStudBud Administration

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Questions 17

Answers

1
"In JIT systems, the difference between pull and push methods is?"
Pull is slower, Push is faster
Pull reacts to demand, Push forecasts demand
Pull uses more inventory, Push uses less
Pull focuses on quality, Push on quantity
2
"What is the Time Series method used for in forecasting?"
Measuring employee performance
Calculating financial budgets
Tracking machine efficiency
Predicting trends based on historical data
3
"Economic Order Quantity (EOQ) is used to?"
Calculate the lowest inventory cost
Determine optimal reorder frequency
Assess supplier performance
Track sales trends
4
"What characterizes a Naïve Forecast in operations management?"
Involves extensive market research
Based on expert opinions
Assumes future equals most recent data
Uses complex algorithms
5
"What is a Weighted Moving Average used for in forecasting?"
Predicting long-term trends
Assigning equal importance to all data points
Focusing on recent data with assigned weights
Using historical data without weights
6
"What is the main goal of Poka-Yoke in manufacturing?"
Fail-safe to minimize human error
Reduce material costs
Speed up production
Enhance machine automation
7
"What is the core principle of Just-In-Time (JIT) philosophy?"
Minimize waste, maximize efficiency
Focus on product variety
High inventory levels
Long-term supplier contracts
8
What does an Andon system primarily indicate?"
Machine efficiency levels
Signals problems or irregularities
Production speed
Inventory levels
9
"In inventory management, 'Shrinkage' refers to?"
Loss of inventory due to theft, damage, or errors
Excess inventory ordering
Expansion of inventory
Increase in production
10
"What is the main function of a Kanban system?"
Signal the need for parts or materials
Track employee performance
Automate production processes
Measure product quality
11
"ABC Analysis in inventory categorizes items based on?"
Color and shape
Supplier reliability
Importance and value
Size and weight
12
"In a Preference Matrix, total weights should add up to?"
50%
75%
100%
No specific total
13
"What does Jidoka principle emphasize in manufacturing?"
Automated quality control
Stop and fix problems immediately
Increase production speed
Continuous production
14
"What does Exponential Smoothing mainly involve in forecasting?"
Equal weighting of all past observations
Ignoring older data completely
Heavy reliance on historical data
Increasing weight to more recent data
15
"What does 'Forecast Error' in operations management indicate?"
Efficiency of production process
Speed of delivery
Cost of raw materials
Accuracy of demand prediction
16
A key limitation of Naive Forecast is not accounting for?"
Market trends
Production costs
Historical data
Seasonality
17
"What does a Preference Matrix primarily indicate?"
Financial budget allocation
Customer satisfaction levels
Priority of tasks or choices
Product pricing strategy

Review Quiz for Final exam Flashcards | StudBud