ISDS Final Concept Questions

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Revenue management is MOST likely to be used in which one of the following​ situations? A. an airline attempting to fill​ "perishable" seats at maximum revenue B. a fast food restaurant with wide demand fluctuations during the day C. a shipping company that can change its fleet size easily D. a firm with a good counterseasonal product mix E. a dental clinic that wants to fill its appointment book

A

What is one of the tools that is particularly useful in reducing system nervousness in an MRP​ system? A. time fences B. closed loop system C. lot sizing D. time phasing E. modular bills

A

Which of the following is specifically characterized by the elimination of waste through a focus on exactly what the customer​ wants? A. Lean operations B. ​Just-in-time (JIT) C. Material requirements planning​ (MRP) D. kanban E. Toyota Production System​ (TPS)

A

Which of the following statements about aggregate planning is​ TRUE? A. A pure chase strategy allows lower inventories when compared to a pure level scheduling. B. An advantage of the counterseasonal product and service mixing option is that it matches seasonal fluctuations without​ hiring/training costs. C. The option of varying workforce size by hiring or layoffs is used where the size of the labor pool is small. D. In aggregate​ planning, back orders are a means of manipulating supply while​ part-time workers are a way of manipulating product or service demand. E. A disadvantage of subcontracting is that it may require skills or equipment outside the​ firm's areas of expertise.

A

Which one of the following statements is TRUE about the kanban​ system? A. The customer workstation signals to the supplier workstation when production is needed. B. The quantities in the containers are usually large to reduce setup costs. C. It is useful to smooth operations when numerous quality problems occur. D. The supplier workstation signals the customer workstation as soon as a batch is completed. E. It is associated with a push system

A

What term is used to describe the outsourcing of​ logistics? A.​third-party logistics​ (3PL) B.​e-logistics C.​sub-logistics D.​shipper-managed inventory​ (SMI) E.hollow logistics

A. third-party logistics

A specific product has demand during lead time of 100​ units, with a standard deviation during lead time of 25 units. What safety stock​ (approximately) provides a​ 95% service​ level? A.41 B.133 C.140 D.165 E.55

A.41

In level​ scheduling, what is kept uniform from month to​ month? A. inventory levels B. ​production/workforce levels C. ​sub-contracting levels D. demand levels E. product mix

B

Which of the following aggregate planning options is NOT associated with manipulation of product or service​ demand? A. counterseasonal products or services B. subcontracting .C. price cuts or discounts D. advertising E. promotion

B

Which of the following aggregate planning strategies is a capacity​ option? A. counterseasonal product mixing B. changing inventory levels C. influencing demand by extending lead times D. influencing demand by back ordering E. influencing demand by changing price

B

All EXCEPT which of the following statements about ABC analysis are​ true? A.ABC analysis suggests that there are the critical few and the trivial many inventory items. B.ABC analysis suggests that all items require the same high degree of control. C.ABC analysis categorizes​ on-hand inventory into three groups based on annual dollar volume. D.ABC analysis is an application of the Pareto principle. E.In ABC​ analysis, inventory may be categorized by measures other than dollar volume.

B.

In the basic EOQ​ model, if the cost of placing an order​ doubles, and all other values remain​ constant, the EOQ​ will: A. ​increase, but more data is needed to say by how much. B. increase by about​ 41%. C. either increase or decrease. D. increase by​ 100%. E. increase by​ 200%.

B. increase by about 41%

The main trait of a​ single-period model is​ that: A. it has the largest EOQ sizes. B. the order quantity should usually equal the expected value of demand. C. inventory has limited value after a certain period of time. D. supply is limited. E. the cost of a shortage cannot be determined accurately.

C

Top executives tend to focus their attention on which type of​ forecasts? A. the forecast for the next​ day's absentee levels B. ​short-range C. ​long-range D. weather E. ​intermediate-range

C

Which choice best describes level​ scheduling? A. Overtime is used to handle seasonal demand fluctuations. B. ​Subcontracting, hiring, and layoffs manipulate supply. C. Inventory goes up or down to buffer the difference between demand and production. D. Daily production is variable from period to period. E. Price points are calculated to match demand to capacity.

C

Which of the following statements regarding a pull system is​ TRUE? A. Large lots are pulled from upstream stations. B. Manufacturing cycle time is increased. C. Problems become more obvious. .D. Work is pulled to the downstream stations before it is actually needed. E. None of the above is true of a pull system.

C

Which of the following​ lot-sizing techniques results in the lowest holding​ costs? A. EOQ B. the quantity discount model C. ​lot-for-lot D. POQ E. ​Wagner-Whitin algorithm

C

Which of the following statements regarding the production order quantity model is​ TRUE? A. It minimizes the total production costs. B. It relaxes the assumption that the demand rate is constant. C. It relaxes the assumption that all the order quantity is received at one time. D. It minimizes inventory. E. It applies only to items produced in the​ firm's own production departments.

C. it relaxes the assumption that all the order quantity is received at one time

A grill assembly takes 20 washers. Instead of listing these washers​ separately, they are grouped into a single kit for production. How is the bill of material for the washers​ classified? A. ​low-level bill B. component bill C. phantom bill D. planning bill E. modular bil

D

Aggregate planning would entail which of the following production aspects at BMW for a​ 12-month period? A. number of​ two-door vs.​ four-door cars to produce B. number of cars with a​ hi-fi stereo system to produce C. number of green cars to produce D. total number of cars to produce E. ​B, C, and D

D

Concerning relationships with​ suppliers, which of the following combinations is critical to the success of​ JIT? A. close relationships with skepticism B. distant relationships with skepticism C. distant relationships with trust D. close relationships with trust E. none of the above

D

Dependence on an external source of supply is found in which of the following aggregate planning​ strategies? A. varying production rates through overtime or idle time B. hiring and laying off C. using​ part-time workers D. subcontracting .E. back ordering during high demand periods

D

What is the practice of keeping a product generic as long as possible before​ customizing? A.keiretsu B.backward integration C.forward integration D.postponement E.​vendor-managed inventory

D. postponement

Which of the following is specifically characterized by a focus on continuous​ improvement, respect for​ people, and standard work​ practices? A. kanban B. ​Just-in-time (JIT) C. Lean operations D. Material requirements planning​ (MRP) E. Toyota Production System​ (TPS)

E

Which one of the following is a characteristic of a JIT​ partnership? A. frequent deliveries in large lot quantities B. maximal product specifications imposed on supplier C. ​third-party logistics never used D. active pursuit of vertical integration E. removal of incoming inspection

E

ABC analysis divides​ on-hand inventory into three​ classes, generally based upon which of the​ following? A.the number of units on hand B.item quality C.annual demand D.unit price E.annual dollar volume

E. annual dollar volume

A rice mill in south Louisiana purchases the trucking firm that transports packaged rice to distributors. This is an example of which of the​ following? A.keiretsu B.backward integration C.horizontal integration D.current transformation E.forward integration

E. forward integration

A restaurant runs a special promotion on lobster and plans to sell twice as many lobsters as usual. When this large order is sent to the​ distributor, the distributor assumes the large size is a​ trend, not a​ one-time event. The distributor therefore places an even larger order with the lobsterman. This behavior is the result of which of the​ following? A.CPFR B.double marginalization C.postponement D.vendor-managed inventory E.the bullwhip effect

E. the bullwhip effect

Because most services cannot be​ inventoried, there is little place for JIT to help service organizations achieve competitive advantage. True or False

False

The supply chain management opportunity called postponement involves delaying deliveries to avoid accumulation of inventory at the​ customer's site. True or False

False

Savings in the supply chain exert more leverage as the​ firm's net profit margin decreases. True or False

True


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