OPS

In the food industry, collaborative planning, forecasting, and replenishment (CPFR) is estimated to generate cost savings of Blank______ each year.

$30 billion

Rank the five steps of collaborative planning, forecasting, and replenishment (CPFR) from start to finish. Position 1 of 5 Joint business planning incorrect toggle button unavailable Joint business planning

1. creation of a front end partnership agreement 2. joint business planning 3. development of demand forecasts 4. sharing forecasts 5. inventory replenishment

The forecast for last period was 100 units. Actual demand was 110 units. What was the forecast error?

10 units

Which of the following is an example of a service business?

A call center

Which of the following is an example of a goods producing business?

An automobile manufacturer

Which if the following actions would be possible in a stable workforce-variable work hours plan? Multiple select question. Building inventory during slow periods Asking workers to work overtime. Having workers take time off to reduce production. Hiring and laying off employees

Asking workers to work overtime. Having workers take time off to reduce production.

Which if the following actions would be possible in a level strategy plan? Multiple choice question. Building inventory during slow periods Asking workers to work overtime Hiring and laying off employees Having workers take time off to reduce production

Building inventory during slow periods A level strategy maintains a constant workforce working at a constant output rate. Inventory level changes are used to buffer changes in demand rate.

What web-based tool is being used as a means to integrate members of a supply chain? Multiple choice question. Online auctions E-procurement E-Commerce CPFR

CPFR is a web-based tool used to integrate members of a supply chain

BLANK is the output that a system is capable of achieving over a period of time

Capacity

Modern companies need to focus on which aspect of the triple bottom line? Multiple choice question. Companies should only focus on economic and environmental. Companies should focus on all aspects: social, economic and environmental. Companies should only focus on social and economic. Companies should only focus on social and environmental.

Companies should focus on all aspects: social, economic and environment

Which of the following is not a step in the risk management process?

Create an activity-system map.

Operations and supply chain management is concerned with the design and management of the entire system that has what function?

Creates and delivers a firm's products and services

Point-of-sale (POS) data would be used in which step of the CPFR process? Multiple choice question. Sharing forecasts Joint business planning Development of demand forecasts Inventory replenishment

Development of demand forecasts

Which of the following is NOT a type of process in the supply chain?

Evaluating

True or false: A firm can excel simultaneously on all competitive dimensions.

False Reason: A strategic position is not sustainable unless there are compromises with other positions, this requires a management decision and leads to a trade-off.

True or false: When plant production becomes too small, diseconomies of scale may occur.

False Reason: Diseconomies of scale can occur when production slows and equipment downtime increases.

Yield management is most effective when fixed costs are low and variable costs are high.

False Reason: Yield management is most effective when fixed costs are high and variable costs are low.

Which of the following is not an example of a qualitative forecasting technique? Multiple choice question. Historical Analogy Panel Consensus Market Research Gamma Method

Gamma Method

Currently, most applications of collaborative planning, forecasting, and replenishment (CPFR) have been in which industries? Multiple select question. General Merchandise Food Apparel Agriculture

General Merchandise Food Apparel

Operations and supply chain management includes which of the following activities? Multiple select question. Managing the firm's advertising expenditures. Improvement of systems that create the firm's primary products. Operation of systems that create the firm's primary products. Design of delivery systems.

Improvement of systems that create the firm's primary products Operation of systems that create the firm's primary products. Design of delivery systems.

Operations and supply chain management includes which of the following activities? Multiple select question.

Improvement of systems that create the firm's primary products. Design of delivery systems. Operation of systems that create the firm's primary products

A firm is reluctant to initiate collaborative planning, forecasting, and replenishment because they feel their suppliers may use the process to justify higher prices. This firm is experiencin

Lack of trust

Which of the following are challenges associated with the implementation of collaborative planning, forecasting, and replenishment (CPFR)? Multiple select question. Lack of trust Inability to identify supply chain partners Concern about security breaches Resistance to change

Lack of trust Concern about security breaches Resistance to change

Order winners and qualifiers represent a link between operations and what other business function? Multiple choice question. Marketing Accounting Engineering Finance

Marketing

What time horizon(s) are used for strategic forecasts? Multiple choice question. Short and medium term. Medium term. Medium and long-term. Long-term.

Medium and long-term.

Which of the following tasks is an operations and supply chain manager likely to perform?

Negotiates contract with vendors and coordinates flow of materials Ensures the shipping of finished products to customers

The feature that actually differentiates one product from the other candidates and is purchased is known as the? Multiple choice question. Order difference Order winner Order qualifier Order purchase

Order winner

Which of the following competitive dimensions relates to environmental impact?

Other Product-Specific Criteria Reason: Environmental impact falls under the Other Criteria dimension and is a related to criteria such as carbon dioxide emissions, using renewable resources, or other factors.

A computer manufacturer has a large order and decides to purchase extra hard drives that will be required from another company at a lower cost rather than increase their capacity; this is an example of?

Outsourcing

What are the two strategies an organization can use when adding in-house capacity is not cost effective?

Outsourcing or shared capacity.

Which of the following is not a component of demand?

PLANNED. Average, trend, seasonal, cyclical, and autocorrelative are all causes of demand. When you cannot identify the reason, it is considered purely random

Productivity is a relative measure, and must be compared to something else meaningful to be effective. What are the three ways of measuring productivity? Multiple choice question.

Partial productivity measure, multifactor productivity measure, and total factor measure of productivity.

Which of the following statements is/are true about productivity?

Productivity is often expressed as a ratio of outputs to inputs. Productivity measures the effective use of resources

What type of forecasts rely on the knowledge of experts and require judgment? Multiple choice question. Random Qualitative Subjective Quantitative

Qualitative

Which component of demand reflects the effects of chance events?

Random Variation

What are some temporary measures to correct supply chain system imbalance? Multiple select question. Scheduling employees for overtime. Leasing equipment to increase throughput. Subcontracting for increased capacity. Change customer orders to what is available.

Scheduling employees for overtime. Leasing equipment to increase throughput. Subcontracting for increased capacity.

Dynamic pricing tries to do which of the following (choose one):

Sell to as many high value customers as possible

What type of forecasts are used for forecast decisions related to strategy and aggregate demand? Multiple choice question. Operational Tactical Aggregate Strategic

Strategic

What are the three elements that require integration to be successful in operations and supply chain management?

Strategy, processes, and analytics

What type of forecast is used for day-to-day decision making?

Tactical

Which qualitative technique develops a forecast by polling participants multiple times on expected forecasts? Multiple choice question. Market Research Panel Consensus Historical Analogy Delphi Method

The Delphi method uses multiple rounds to achieve results

Which of the following is true of services? (Check all that apply

They are intangible. They are perishable.

Capacity has a time dimensional aspect for operations and supply chain management. A manager must consider capacity planning in how many time durations?

Three time durations Reason: Capacity planning must be considered in the short-, intermediate-, and long-range.

The forecasting technique that uses past demand to predict future demand is known as

Time Series Analysis

Which of the four basic types of forecasting assumes that data about past demand can be used to predict future demand?

Time Series Analysis

True or false: Historical analogies are useful for forecasting new products with similar growth patterns and concepts of previous products.

True Reason: Historical analogies are useful when a new product is introduced that has characteristics similar to those of previous products.

True or false: Capacity planning in the services industry has added pressure on location requirements versus that with manufacturing

True Reason: In service industries, the service must be located where the customer needs it when they need it.

True or false: The presence of the customer in a service delivery system increases the volatility of demand

True Reason: The main source of demand volatility in service systems is the presence of the customer due to different needs, behaviors, and expected experience.

Activity-system maps are useful for? (select all that apply) Multiple select question. Understanding the fit between system activities and company strategy. Assigning strategic projects to employees. Identifying weak links in the supply chain. Identifying strategic themes

Understanding the fit between system activities and company strategy. Identifying strategic themes

In the context of efficiency and effectiveness, BLANK is abstractly defined as quality divided by price.

VALUE

When deciding which forecasting model to use, a firm should consider all of the following except Accuracy required Forecasting budget Weather Time horizon

Weather

Bias errors occur when Blank______. Multiple choice question. a forecast is neither too high nor too low. a forecast alternates between too high and too low. a forecast is incorrect. a forecast is consistently too high (or too low).

a forecast is consistently too high (or too low)

In operations management, capacity must be stated relative to Multiple choice question. a period of time. a group of customers. historical data. demand.

a period of time.

A tool that shows how a company's strategy is delivered through a set of tailored activities is called a(n)

activity-system maps

The term that refers to the average number of customers that come to a facility during a specific period of time is known as the

arrival rate

A process in which one company studies the processes of another company for best practices is known as

benchmarking

The output level where average unit cost is minimized is known as the

best operating level.

The ability to hold, receive, store, or accommodate describ

capacity

Yield management is the process of allocating which of the following to maximize profit? Multiple choice question. Inventory Market research Capacity

capacity

Capacity in excess of expected demand is known as

capacity cushion.

Which of the following is not one of the differences between planning capacity for services versus manufacturing? Multiple choice question. Time Cost Location Volatility of demand

cost The main differences between service and manufacturing capacity planning are time, location, and volatility of demand.

The competitive dimension that deals with getting the product to the customer when promised is called

delivery reliability.

The idea that multiple products can be combined and produced at one facility at a lower cost than they can be produced separately is known as

economies of scope.

Doing the things that will create the most value for the customer is known as

effectiveness.

Doing something at the lowest possible cost is known as

efficiency

The triple bottom line includes all of the following criteria except Blank______

efficiency

Doing something at the lowest possible cost is known as

efficinecy

In a service organization, short-range scheduling focuses on Multiple choice question. suppliers. employees. quality. equipment leases.

employeees

The key focus of design quality is that of product or service reliability.

false

True or false: An operations and supply chain strategy is independent of the corporate strategy.

false

True or false: An order qualifier today will be an order winner in the future.

false

Yield management's objective is to minimize cost

false

Tactical forecasts are typically used to estimate demand for the next Blank______. Multiple choice question. few hours long term contract renewal few years few weeks or months

few weeks or months

A facility designed around a limited set of production objectives is called a

focused factory

Risk Management Framework

identify the sources of potential disruptions, assess the potential impact of the risk, develop plans to mitigate the risk

A process that cannot be weighed or measured is known as Multiple choice question.

intangible

In production planning, a BLANK strategy is executed by maintaining a stable workforce and producing output at a constant rate.

level

A qualitative forecasting technique that is useful for identifying what consumers like and dislike about a product is Blank_____

market research

Performing activities in a manner that best implements strategic priorities at minimum cost is known as

operations effectiveness

In a stable workforce-variable work hours plan, one varies the BLANK rate by varying the number of BLANK worked through flexible schedules and overtime.

output or production Blank 2: hours

Shareholders are individuals or organizations that

own one or more shares of stock in the company.

The operations and supply chain strategy is a part of the

planning process.

Inventory on-hand is the amount of inventory carried over from the period.

previous, preceding, or last

BLANK quality aims to produce defect-free products, whereas BLANK quality relates to the set of features the product contains.

process, design

Hiring, training, and laying off personnel are costs associated with Multiple choice question. production rate changes. financial services. backordering costs. inventory.

production rate changes.

What tool involves assessing the probability or relative frequency of an event against the aggregate severity of the loss? Multiple choice question. Risk strategy Risk planning Risk mapping Risk forecasting

risk mapping

The average number of customers that can be processed over a period of time, when the facility is operating at maximum capacity, is known as the ___. Multiple choice question. output rate utilization rate arrival rate service rate

service rate The average number of customers that can be processed over a period of time, when the facility is operating at maximum capacity, is known as the service rate.

Tactical forecasts are Blank______ term, while strategic forecasts are Blank______ term.

short; medium and long

Which dimension of the triple bottom line seeks to benefit its employees, the local community, and other entities that are impacted by the firm's existence?

social

When a company seeks to match the benefits of a successful position and maintain their current position in the marketplace it is attempting a(n) Blank______ approach.

straddling

Operations and supply chain processes are the activities that

transform inputs into outputs

Hiring temporary employees is a way to avoid the costs of training and laying off personnel. True false question.TrueFalse

true

The difficulty with using a panel consensus is that lower-level employees may be intimidated by higher levels of management.

true

True or false: A process is made up of one or more activities that transform inputs into outputs.

true

True or false: An operations and supply chain manager helps firms determine the best way to deliver its goods and services.

true

True or false: An operations and supply chain manager helps firms determine the best way to deliver its goods and services. True false question.

true

True or false: Most product offerings are a combination of goods and services

true

Supply chain disruptions are

unplanned and unanticipated

Yield management deals with which of the following

unreliable customers differebt customer types giving way to other businesses