QDM Exam 1

Which of the following is a qualitative forecasting​ method

Delphi method

A strategy is

an action plan to achieve a mission.

Which of the following is a quantitative forecasting​ method?

exponential smoothing

Which of the following is a direct responsibility of the project​ manager?

making sure that the people assigned to the project receive the​ motivation, direction, and information needed to do their jobs

Which of these is NOT an advantage of​ outsourcing cost savings gaining outside expertise accessing outside technology potential creation of future competition

potential creation of future competition

Which of the following OM decisions determines how a good or service is produced and commits management to specific​ technology, quality, human​ resources, and capital​ investment

process and capacity design

Select all of the correct impacts that inflation versus stable prices might have on OM strategy below

Difficulty in predicting both the cost of production and the market demand

Which of the following is NOT a technique that allows managers to​ plan, schedule, and control​ projects?

Factor-rating method

Select all of the correct impacts that major increases in oil prices might have on OM strategy below

For the energy inefficient​ company, change in the competitive position. For a producer with high energy​ costs, change in the cost​ structure, result in higher selling prices.

Select all of the correct impacts that​ water- and​ air-quality legislation might have on OM strategy below.

Increasing production cost. Difficulty in using the specific technologies. Closing of numerous plants including paper mills and steel mills.

Select all of the correct impacts changes in laptop computer design that builds in wireless technology might have on OM strategy below. ​

Maintenance procedures need to be revised. Capital investment is added for new equipment or processes. New human resources skills.

Select all of the correct impacts technology innovation in the manufacturing process might have on OM strategy below.

Maintenance procedures need to be revised. Inventory needs to be revised. Quality standards need to be revised.

Select all of the correct impacts legislation moving health insurance from a pretax benefit to taxable income might have on OM strategy below

Operations managers get pressure to increase wages of employees in the lower pay classifications. Decrease in the​ take-home pay of employees by the amount of the taxes. Change in the income of employees in the lower pay classifications.

Select all of the correct impacts the maturing of a product might have on OM strategy below. ​

Optimum capacity may be achieved. Cost cutting is instituted. Product changes decrease Product changes decrease.

Which of the following is a reality each company faces regarding its forecasting​ system?

Outside factors that we cannot predict or control often impact the forecast.

Competition in the 21st century is no longer between​ companies; it is between

Supply Chains

Which of the following is a limitation of PERT and​ CPM?

There is the inherent danger of placing too much emphasis on the critical path

Select all of the correct impacts that fewer young prospective employees entering the labor market might have on OM strategy below.

Tighter job market

A forecast that projects a​ company's sales is

a demand forecast.

A measure of the strength of the relationship between two variables is referred to as the

coefficient of correlation.

The creation of a unique advantage over competitors is referred as

competitive advantage.

Competing on differentiation is

concerned with uniqueness.

Which of the following tasks would NOT typically represent an operations management activity at Hard Rock​ Café A. preparing an employee schedule B. receiving a shipment of incoming food ingredients C. filing a tax return Your answer is correct. D. designing an efficient layout

filing a tax return

With respect to PERT and​ CPM, slack

is the amount of time a task may be delayed without changing the overall project completion time.

Which of the following is NOT a​ time-series model? moving averages linear regression exponential smoothing naive approach

linear regression

The critical path of a network is the

longest time path through the network.

Among the​ following, critical path and slack time analysis MOST help

pinpoint activities that need to be closely watched.

Gantt charts are

planning charts used to schedule resources and allocate time.

The three phases involved in the management of large projects are

planning, scheduling, and controlling.

Which forecasting model is based upon​ salespersons' estimates of expected​ sales?

sales force composite

The economic activities that typically produce an intangible product are referred to as

services.

The forecasting time horizon that would typically be easiest to predict for would be the

short range.

PERT analysis computes the variance of the total project completion time as

the sum of the variances of all activities on the critical path.