MGT 3332 Quiz 1

Two widely used metrics of variation are the __________ and the _________.

mean; standard deviation

arming is an example of:

non-manufactured goods production

Buying goods or services instead of producing or providing them in-house is called:

outsourcing.

What is not a type of judgmental forecasting?

time series analysis

What is a potential shortcoming of using sales force opinions in demand forecasting?

Members of the sales force can have difficulty distinguishing between what customers would like to do and what they actually will do

What principles emphasizes that actions should make the community as a whole better off?

The Common Good Principle

what is/are a primary input into capacity, sales, and production planning?

demand forecasts

what is not a characteristic of service operations?

easy measurement of productivity

Budgeting, analysis of investment proposals, and provision of funds are activities associated with the _______ function.

finance

Production systems with customized outputs typically have relatively:

skilled workers

what is not true about the systems approach?

A systems approach concentrates on efficiency within subsystems

Technology choices can have a major impact on:

Costs, Productivity. Customer Satisfaction, Quality

What is not a step in the forecasting process?

Eliminate all assumptions.

Putting forecast errors into perspective is best done using

MAPE

Farming is an example of:

Smooth variations in the data

Moving average forecasting techniques do the following:

Smooth variations in the data.

What is not a benefit of using models in decision making?

They force the decision maker to take into account qualitative issues such as personalities and emotions

A forecast based on the previous forecast plus a percentage of the forecast error is:

an exponentially smoothed forecast

What is essential to consider with respect to managing a process to meet demand?

capacity

Detecting non-randomness in errors can be done using:

control charts

Supplying operations with parts and materials, performing work on products, and/or performing services are part of the firm's:

internal supply chain

what does not relate to system design?

inventory management

Operations and sales are the two ________ functions in businesses.

line

In their chief role of _________, operations managers exert considerable influence over the degree to which the goals and objectives of the organization are realized.

planner/decision maker

The two general approaches to forecasting are:

qualitative and quantitative

Some companies attempt to maximize the revenue they receive from fixed operating capacity by influencing demands through price manipulation. This is an example of:

revenue management

In addition to operations, what is considered a "line" function?

sales

Forecasts based on judgment and opinion do not include:

second opinions

Business organizations consist of three major functional areas which, ideally:

support one another

The forecasting method which uses anonymous questionnaires to achieve a consensus forecast is:

the Delphi method

The responsibilities of the operations manager include:

the creation of goods or provision of services

The primary difference between seasonality and cycles is:

the duration of the repeating patterns