OSCM 373 Exam 1 review

Which smoothing constant will be the most reactive to previsions forecasting error? 0.75 0.5 0.25 0

0.75

Which error measure is the best indicator of average (absolute) gap between forecast and actual values? - MAPE - MAD - Naive - MSE

MAD

Since he sold 50 burgers yesterday, John predicts he will sell 50 burgers today. What forecasting model is he using? - Associative - Seasonal - Exponential Smoothing with a constant of 0.5 - Naive

Naive

Which competitive dimension is improved by The Cricket Stick? (select ALL correct answers) - Variety - Response Time - None - Quality - Price

- Variety - Response time - Quality

How long will it take to complete an order using Amazon Prime Air? 30 minutes or less 60 minutes or less 5 minutes or less 15 minutes or less

30 minutes or less

A service company processes an average of 50 customers per 8 hour work day. The firms has 4 employees. The hourly wage is $10, the overhead is 1.2 times labor cost, and material cost is $5 per customer. What is the company's multi-factor productivity (customers/$)? 0.072 0.052 0.066 0.088

50/(4*8*10+1.2*4*8*10+5*50) = 0.052

Organization's Strategies are: - A roadmap for reaching the organizational destinations - The methods and actions taken to accomplish strategies - The organizational destinations - The actual "doing" part of the process - The reason for an organization's existence

A roadmap for reaching the organizational destinations

Given the precedence table below, a cycle time of 1.0 and using the shortest processing time first heuristic, what is the first task assigned to the 3rd workstation? Task Duration Predecessor a .2 - b .6 a c .2 b d .4 - e .5 d f 1 c g 1 e,f - e - c - b - d

Answer: b Cycle-Time = 1.0 Heuristic: Shortest Processing-Time First Based on precedence: Station 1: a & d Station 2: e Station 3: b & c Station 4: f Station 5: g

Operations Management includes all of these activities except: - Scheduling work - Managing the supply chain - Maintaining quality - Managing inventories - Assessing consumer wants and needs

Assessing consumer wants and needs

What process type is commonly used in the food & beverage industry (ice-cream, soft drinks etc.)? - Continuous - Batch - Job-Shop - Project

Batch

A company wishes to design a repetitive process. The manager knows that making a product takes (at a minimum) 5 minutes and estimates they will have to make 120 units every hour. What is the minimum number of workstation required? 120 20 60 10

CT = 60/120 = 0.5 minutes/unit N min = 5/0.5 = 10 workstations

A property title search firm is contemplating using online software to increase its search productivity. Currently an average of 40 minutes is needed to do a title search. The researcher cost is $2 per minute. Clients are charged a fee of $400. Company A's software would reduce the average search time by 10 minutes, at a (fixed cost) cost of $3.50 per search. Company B's software would reduce the average search time by 12 minutes at a (fixed cost) cost of $3.60 per search. Which option would have the highest productivity (per search) in terms of revenue per dollar of input? - Company B - Company A - Current

Company B

Good Predictor variables are: - Variables whose values have to be predicted - May be predicted by the variables of interest - Increasing or decreasing in value over time - Correlated to the variables of interest

Correlated to the variables of interest

A manager checked production records and found that a worker produced 100 units while working 40 hours. In the previous week, the same worker produced 60 units while working 30 hours. What is the Labor Productivity Growth (Decline)? 66.67% 50% 25% 33.33%

Current Productivity = 100/40 = 2.5 Previous Productivity = 60/30 = 2 Growth = (2.5-2)/2 = 25%

Which of the following is an example of a Fixed-Position Layout? - Automatic Car Wash - Restaurant Kitchen - Brewery - Farming

Farming

Which one of the following will always lead to an increase in productivity? - Increase outputs and hold inputs constant - Increase inputs and increase outputs - Decrease both inputs and outputs - Decrease outputs and hold inputs constant

Increase outputs and hold inputs constant

Amazon recently opened "Amazon Go". This is a grocery store located in Seattle, Washington which eliminates the checkout process. Which competitive advantage is Amazon gaining over neighboring traditional grocery stores? - Response-Time - Price - Location - Variety

Response-Time

A key difference between the production of goods and the performance of services is: - Services generally can't be stored. - Service is less profitable than manufacturing. - Service workers require less training than manufacturing workers - Service work is more interesting than manufacturing work.

Services generally can't be stored.

Which competitive dimensions are improved by online classes? (select ALL correct answers) - Variety - Price - None - Quality - Response Time

Variety, Price, Response time

What is a the MSE of the forecasting method below? Actual Demand 120 1220 100 90 80 Forecast 126 115 107 98 84 6.09% 47.5 38 6

[(120-126)^2+(110-115)^2+(100-107)^2+(90-98)^2+(80-84)^2]/(5-1)=47.5