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3325-MidTerm Review- short Flashcards | StudBud
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3325-MidTerm Review- short
3325-MidTerm Review- short
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Operations MidTerm Review Quiz
Flashcards
50 cards
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Practice quiz
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Questions
50
Answers
1
The shortest of all paths through the network is the critical path.
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2
The three major types of forecasts used by organizations in planning future operations are:
causal, time-series, and seasonal.
economic, technological, and demand.
strategic, tactical, and operational.
exponential smoothing, Delphi, and regression.
3
The factor responsible for the largest portion of productivity increase in the United States
Management
Labor
None of the these
Capital
4
As compared to long-range forecasts, short-range forecasts:
all of the above
are less accurate.
deal with less comprehensive issues supporting management decisions.
employ similar methodologies
5
What is a set of quality standards developed by the IOS?
ISO 9000
Deming Prize
IOS 2009
Malcolm Baldrige National Quality Award
6
One use of short-range forecasts is to determine:
planning for new products.
research and development plans.
cash budgeting.
production levels.
7
Standardization is an appropriate strategy in which stage of the product life cycle?
introduction
decline
maturity
retirement
8
Which of the following is NOT one of McDonald's "seven major innovations"?
self-service kiosks
drive-through windows
the Happy Meal
breakfast menus
9
What is a drawing of the movement of material, product, or people?
process map
process chart
flowchart
service blueprint
10
NAFTA seeks to phase out all trade and tariff barriers among CAN, MEX, U.S
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11
A location decision for a traditional department store would tend to have what type of focus?
cost focus
environmental focus
revenue focus
labor focus
12
An improvement in quality must necessarily increase costs.
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13
Demand forecasts serve as inputs to financial, marketing, and personnel planning.
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14
Projects such as road building and plane building are:
not defined
well-defined
ill-defined
agile
15
The three major elements of the product decision are:
goods, services, and hybrids.
cost, differentiation, and speed of response.
strategy, tactics, and operations.
selection, definition, and design.
16
activities that creates value in the form of goods and services by turning inputs into outputs.
Market Research
Operations management
Collection
Financial services
17
Which of the following strategic concepts allow firms to achieve their missions?
differentiation, quality leadership, and response
distinctive competency, cost leadership, and experience
differentiation, cost leadership, and response
productivity, efficiency, and quality leadership
18
The ability of an organization to produce goods or services that have some uniqueness
competing on quality.
time-based competition.
competing on differentiation.
mass production.
19
Which of the following statements regarding Gantt charts is TRUE?
All of these are true.
Gantt charts are visual devices that show the duration
Gantt charts give a timeline and precedence relationships
Gantt charts are expensive.
20
A product-focused process is commonly used to produce:
low-variety products at either high- or low-volume.
high-volume, high-variety products.
low-volume, high-variety products.
high-volume, low-variety products.
21
The forecasting technique that pools the opinions of a group of experts or managers is known
market survey.
the expert judgment model.
jury of executive opinion.
multiple regression.
22
Slotting fees:
can amount to as much as $50,000.
all of these
are charged by retailers to stock a product.
are not a part of Walmart's business practices.
23
The main goal of retail layout is:
maximizing profitability per square foot of floor space.
minimizing customer confusion regarding location of items.
minimizing material handling cost.
minimizing storage costs.
24
The objective of the product decision is to develop and implement a product strategy
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25
Which task within a manufacturing firm is performed by the operations function?
market research
sales promotion
borrowing funds
quality assurance and control
26
Porter's Five Forces Model contains which of the following?
potential entrants
customers
All of the Above
immediate rivals
27
The three major elements of the product decision are:
goods, services, and hybrids.
cost, differentiation, and speed of response.
strategy, tactics, and operations.
selection, definition, and design.
28
A forecast with a time horizon of about 3 months to 3 years is typically called a:
weather forecast
short-range forecast.
medium-range forecast
long-range forecast.
29
Which of the following is NOT an aspect of reduced costs by quality improvements?
lower warranty cost
flexible pricing
increased productivity
lower rework and scrap costs
30
Product strategy may focus on developing a competitive advantage via differentiation
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31
Operations management is the set of activities that creates value in the form of tangible goods
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32
Which of the following phrases best describes product focus?
high inventory
high fixed costs, low variable costs
low volume, high variety
Processes are designed to perform a wide variety of activities.
33
Currency risk is based on what assumption?
The U.S. stock market fluctuates daily.
Firms that do not continuously innovate will lose market share.
Values of foreign currencies continually rise and fall in most countries.
Changing product lines by reacting to every current trend
34
The objective of a human resource strategy is to:
produce the demand forecast at the lowest possible labor cost.
hire the most diversified workforce possible
manage labor so people are effectively and efficiently utilized.
achieve a reasonable quality of work life at low cost.
35
According to the manufacturing-based definition of quality:
even though quality cannot be defined, you know what it is.
quality depends on how well the product fits patterns
quality lies in the eyes of the beholder.
quality is the degree to which a specific product conforms to standards.
36
Three of the four types of processes are:
manual, automated, and service.
modular, continuous, and technological.
process focus, repetitive focus, and product focus.
goods, services, and hybrids
37
Which of the following did the authors NOT suggest as a reason for globalizing operations?
improve the supply chain
reduce costs
attract and retain global talent
pursue stockholder approval ratings
38
The phases of project management are:
planning, scheduling, and controlling.
GANTT, CPM, and PERT.
planning, programming, and budgeting.
planning, organizing, staffing, leading, and controlling.
39
Productivity can be improved by:
decreasing outputs while holding inputs steady.
increasing inputs while holding outputs steady.
decreasing inputs while holding outputs steady.
increasing inputs and outputs in the same proportion.
40
A product's life cycle is divided into four stages, which are:
introduction, maturity, saturation, and decline.
introduction, growth, saturation, and maturity.
introduction, growth, maturity, and decline.
introduction, growth, stability, and decline.
41
A firm can use its operations function to competitive advantage all of the following EXCEPT:
constant innovation of new products.
customization of the product.
speed of delivery.
setting equipment utilization goals below the industry average.
42
What layout strategy deals with low-volume, high-variety production?
warehouse layout
process-oriented layout
retail layout
fixed-position layout
43
FedEx chose Memphis, Tennessee, as its U.S. hub because:
the airport has relatively few hours of bad weather closures.
All of these are true.
the city is in the center of the United States, geographically.
it needed a means to reach cities to which it did not have direct flights.
44
An assembly line is an example of a:
product-focused process.
specialized process.
repetitive process.
process-focused process.
45
The objective of layout strategy is to:
develop an effective and efficient layout that will meet the firm
minimize space used.
minimize cost.
maximize flexibility.
46
A responsibility of a project manager is to make sure that the project meets its quality goals.
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47
Which of the following is NOT a step in the forecasting process?
Determine the use of the forecast.
Determine the time horizon of the forecast.
Select the forecasting model.
Eliminate any assumptions.
48
Forecasts are usually classified by time horizon into which three categories?
strategic, tactical, and operational
exponential smoothing, regression, and time series
finance/accounting, marketing, and operations
short-range, medium-range, and long-range
49
Ranks a company's products to determine products represent use of the firm's resources
Value engineerin
Financial analysis
Product cost justification
Product-by-value analysis
50
Four of the components of job design are:
ergonomics and work methods, method time measurement,
labor specialization, time studies, work sampling
job specialization, job expansion, psych components,
employment stability, work schedules, work sampling,
