14 Aug Week 8 : Final Exam – Final Exam Time Remaining: Page: 1 2 3 Page 1 Qu

Week 8 : Final Exam – Final Exam

Time Remaining:

Page: 1 2 3

Page 1

Question 1. 1. (TCOs 1 and 2) A major competitive dimension
that forms a company’s strategic operational competitive position in their
strategic planning is which of the following?
(Points : 4)
Cost or price
Focus
Automation
Straddling
Activity-system
mapping

Question 2. 2. (TCO 1) One of the package of features that
make up a service is
(Points : 4)De
appearance.
facilitating
goods.
packaging.
cost.
implied use.

Question 3. 3. (TCO 5) You are using an exponential
smoothing model for forecasting. The running sum of the forecast error
statistics (RSFE) are calculated each time a forecast is generated. You find
the last RSFE to be 34. Originally, the forecasting model used was selected
because its relatively low MAD of 0.4. To determine when it is time to
reevaluate the usefulness of the exponential smoothing model, you compute
tracking signals. Which of the following is the resulting tracking signal?
(Points : 4)
85
60
13.6
12.9
8

Question 4. 4. (TCO 5) The way to build in greater
flexibility in your workers is to do which of the following? (Points : 4)
Pay higher
wages to motivate a willingness to do a variety to tasks.
Provide a broader range of training.
Provide a wide
variety of technology to augment workers skills.
Institute a
“pay for skills” program.
Use part-time
employees with specialized skills as needed.

Question 5. 5. (TCO 6) The Malcolm Baldrige National Quality
Award is given to organizations that have done which of the following? (Points
: 4)
Instituted a
six-sigma approach to total quality control
Demonstrated a
high level of product quality
Demonstrated
outstanding quality in their products and processes
Have a
world-class quality control function
Most
significantly improved their product quality levels

Question 6. 6. (TCOs 3 and 7) Which of the following is
considered a high-contact service operation?
(Points : 4)
Online
brokerage house
Internet sales
for a department store
Physician
practice
Telephone life
insurance sales and service
Automobile
repair

Question 7. 7. (TCOs 7 and 8) Which of the following is a
dynamic lot-sizing technique that adds ordering and inventory carrying cost for
each trial lot size and divides by the number of units in each lot size,
picking the lot size with the lowest unit cost?
(Points : 4)
Economic order
quantity
Lot-for-lot
Least total
cost
Least unit cost
Inventory item
averaging

Question 8. 8. (TCOs 4 and 8) Which of the following is a
dynamic lot-sizing technique that calculates the order quantity by comparing
the carrying cost and the setup (or ordering) costs for various lot sizes and
then selects the lot size in which these are most nearly equal? (Points : 4)
Kanban
Just-in-time
system
MRP
Least unit cost
Least total
cost

Question 9. 9. (TCO 3) When considering outsourcing, what
should firms be sure to avoid? (Points : 4)
Losing control
of noncore activities that don’t distinguish the firm
Allowing
outsourcing to develop into a substitute for innovation
Giving the
outsourcing partner opportunities to become a strong competitor
Allowing
employees transferred to the outsourcing partner to rejoin the firm
Adverse
corporate tax implications of asset transfers to the outsourcing partner

Question 10. 10. (TCO 9) In which of the following
situations should we not use the transportation method of linear programming?
(Points : 4)
To find a new
site location for a plant
To minimize
costs of shipping n units to m destinations
To maximize
profits of shipping n units to m destinations
To determine
which corner of a street intersection to locate a retail service facility
To locate a
finished goods distribution warehouse

Page 2

Question
1. 1.(TCO
4) a company has recorded the last 5 days of daily demand on their only
product. Those values are 120, 125, 124, 128, and 133. The time from when
an order is placed to when it arrives at the company from its vendor is 5
days. Assuming the basic fixed-order quantity inventory model fits this
situation and no safety stock is needed, which of the following is the
reorder point (R)?(Points : 10)

120

126

630

950

1,200

Question
2. 2.(TCO
4) You would like to use the fixed-time period inventory model to compute
the desired order quantity for a company. You know that vendor lead time
is 5 days and the number of days between reviews is 7. Which of the
following is the standard deviation of demand over the review and lead
time if the standard deviation of daily demand is 8? (Points : 10)

About
27.7

About
32.8

About
35.8

About
39.9

About
45.0

Question
3. 3.(TCOs
3, 4, and 5) If the average aggregate inventory value is $45,000 and the
cost of goods sold is $10,000, which of the following is weeks of supply?
(Points : 10)

45,000

234

120

23.4

4.5

Question
4. 4.(TCO
5) If a firm produced a standard item with relatively stable demand, the
smoothing constant alpha (reaction rate to differences) used in an
exponential smoothing forecasting model would tend to be in which of the
following ranges? (Points : 10)

5% to
10%

20%
to 50%

20%
to 80%

60%
to 120%

90%
to 100%

Question
5. 5.(TCO
2) Various financial data for SunPath Manufacturing for 2012 and 2013
follow.
What is the percentage change in the multifactor labor and raw materials productivity
measure for SunPath between 2012 and 2013?

2012

2013

Output:

Sales:

$300,000

$330,000

Inputs:

Labor:

$40,000

$43,000

Raw Materials:

$45,000

$51,000

Energy:

$10,000

$9,000

Capital Employed:

$250,000

$262,000

Other

$2,000

$6,000

(Points : 10)

-9.22

2.33

-0.53

-2.88

10.39

Question
6. 6.(TCO
5) A company wants to forecast demand using the weighted moving average.
If the company uses three prior yearly sales values (i.e., year 2011 =
160, year 2012 = 140, and year 2013 = 170), and we want to weight year
2011 at 30%, year 2012 at 30%, and year 2013 at 40%, which of the
following is the weighted moving average forecast for year 2014?

170

168

158

152

146

Question
7. 7.(TCO
5) If demand for product “A” were forecast at 1,000,000 units
for the coming year and your factory has one machine capable of producing
75,000 units per month, how much of product “A” might you plan
to acquire through outsourcing?(Points : 10)

500

10,000

100,000

200,000

600

Question
8. 8.(TCO
3) You have been called in as a consultant to set up a Kanban control
system. The first thing to do is to determine the number of Kanban card
sets needed. Your research shows that the expected demand during lead
time for a particular component is 150 per hour. You estimate the safety
stock should be set at 25% of the demand during lead time. The tote trays
used as containers can hold eight units of stock and the lead time it
takes to replenish an order is 2 hours. Which of the following is the
number of Kanban card sets necessary to support this situation?

42

47

68

89

94

Question
9. 9.(TCO
7) Using the cut-and-try method for aggregate operations planning, we can
determine the production requirement in units of product. If the
beginning inventory is 100 units, the demand forecast is 1,200, and the
necessary safety stock is 20% of the demand forecast, which of the
following is the production requirement?

1,200

1,300

1,340

1,500

1,540

Question
10. 10.(TCO
8) If annual demand is 6,125 units, annual holding cost is $5 per unit,
and setup cost per order is $50, which of the following is the EOQ lot
size?
350

247

23

185

78

Page: 1 2 3
Time Remaining:

Page 3

Question 1. 1. (TCOs 1, 2, and 5) Discuss the role of
efficiency and effectiveness in the creation of value. (Points : 30)

Question 2. 2. (TCOs 3, 5, and 6) Describe the relationship
between capacity utilization and quality in a service operation. (Points : 30)

Question 3. 3. (TCOs 4, 6, and 7) Describe the aggregate
sales and operations planning process. (Points : 30)

Week 8 : Final Exam – Final ExamTime Remaining: Page: 1 2 3Page 1Question 1. 1. (TCOs 1 and 2) A major competitive dimension
that forms a company’s strategic operational competitive position in their
strategic planning is which of the following?(Points : 4) Cost or price Focus Automation Straddling Activity-system
mappingQuestion 2. 2. (TCO 1) One of the package of features that
make up a service is(Points : 4)De appearance. facilitating
goods. packaging. cost. implied use.Question 3. 3. (TCO 5) You are using an exponential
smoothing model for forecasting. The running sum of the forecast error
statistics (RSFE) are calculated each time a forecast is generated. You find
the last RSFE to be 34. Originally, the forecasting model used was selected
because its relatively low MAD of 0.4. To determine when it is time to
reevaluate the usefulness of the exponential smoothing model, you compute
tracking signals. Which of the following is the resulting tracking signal?
(Points : 4) 85 60 13.6 12.9 8Question 4. 4. (TCO 5) The way to build in greater
flexibility in your workers is to do which of the following? (Points : 4) Pay higher
wages to motivate a willingness to do a variety to tasks. Provide a broader range of training. Provide a wide
variety of technology to augment workers skills. Institute a
“pay for skills” program. Use part-time
employees with specialized skills as needed.Question 5. 5. (TCO 6) The Malcolm Baldrige National Quality
Award is given to organizations that have done which of the following? (Points
: 4) Instituted a
six-sigma approach to total quality control Demonstrated a
high level of product quality Demonstrated
outstanding quality in their products and processes Have a
world-class quality control function Most
significantly improved their product quality levelsQuestion 6. 6. (TCOs 3 and 7) Which of the following is
considered a high-contact service operation?(Points : 4) Online
brokerage house Internet sales
for a department store Physician
practice Telephone life
insurance sales and service Automobile
repairQuestion 7. 7. (TCOs 7 and 8) Which of the following is a
dynamic lot-sizing technique that adds ordering and inventory carrying cost for
each trial lot size and divides by the number of units in each lot size,
picking the lot size with the lowest unit cost?(Points : 4) Economic order
quantity Lot-for-lot Least total
cost Least unit cost Inventory item
averagingQuestion 8. 8. (TCOs 4 and 8) Which of the following is a
dynamic lot-sizing technique that calculates the order quantity by comparing
the carrying cost and the setup (or ordering) costs for various lot sizes and
then selects the lot size in which these are most nearly equal? (Points : 4) Kanban Just-in-time
system MRP Least unit cost Least total
cost Question 9. 9. (TCO 3) When considering outsourcing, what
should firms be sure to avoid? (Points : 4) Losing control
of noncore activities that don’t distinguish the firm Allowing
outsourcing to develop into a substitute for innovation Giving the
outsourcing partner opportunities to become a strong competitor Allowing
employees transferred to the outsourcing partner to rejoin the firm Adverse
corporate tax implications of asset transfers to the outsourcing partnerQuestion 10. 10. (TCO 9) In which of the following
situations should we not use the transportation method of linear programming?
(Points : 4) To find a new
site location for a plant To minimize
costs of shipping n units to m destinations To maximize
profits of shipping n units to m destinations To determine
which corner of a street intersection to locate a retail service facility To locate a
finished goods distribution warehousePage 2

Question
1. 1.(TCO
4) a company has recorded the last 5 days of daily demand on their only
product. Those values are 120, 125, 124, 128, and 133. The time from when
an order is placed to when it arrives at the company from its vendor is 5
days. Assuming the basic fixed-order quantity inventory model fits this
situation and no safety stock is needed, which of the following is the
reorder point (R)?(Points : 10)
120

126

630

950

1,200

Question
2. 2.(TCO
4) You would like to use the fixed-time period inventory model to compute
the desired order quantity for a company. You know that vendor lead time
is 5 days and the number of days between reviews is 7. Which of the
following is the standard deviation of demand over the review and lead
time if the standard deviation of daily demand is 8? (Points : 10)
About
27.7

About
32.8

About
35.8

About
39.9

About
45.0

Question
3. 3.(TCOs
3, 4, and 5) If the average aggregate inventory value is $45,000 and the
cost of goods sold is $10,000, which of the following is weeks of supply?
(Points : 10)
45,000

234

120

23.4

4.5

Question
4. 4.(TCO
5) If a firm produced a standard item with relatively stable demand, the
smoothing constant alpha (reaction rate to differences) used in an
exponential smoothing forecasting model would tend to be in which of the
following ranges? (Points : 10)
5% to
10%

20%
to 50%

20%
to 80%

60%
to 120%

90%
to 100%

Question
5. 5.(TCO
2) Various financial data for SunPath Manufacturing for 2012 and 2013
follow.
What is the percentage change in the multifactor labor and raw materials productivity
measure for SunPath between 2012 and 2013?20122013Output:Sales:$300,000$330,000Inputs:Labor:$40,000$43,000Raw Materials:$45,000$51,000Energy:$10,000$9,000Capital Employed:$250,000$262,000Other$2,000$6,000(Points : 10)
-9.22

2.33

-0.53

-2.88

10.39

Question
6. 6.(TCO
5) A company wants to forecast demand using the weighted moving average.
If the company uses three prior yearly sales values (i.e., year 2011 =
160, year 2012 = 140, and year 2013 = 170), and we want to weight year
2011 at 30%, year 2012 at 30%, and year 2013 at 40%, which of the
following is the weighted moving average forecast for year 2014?
170

168

158

152

146

Question
7. 7.(TCO
5) If demand for product “A” were forecast at 1,000,000 units
for the coming year and your factory has one machine capable of producing
75,000 units per month, how much of product “A” might you plan
to acquire through outsourcing?(Points : 10)
500

10,000

100,000

200,000

600

Question
8. 8.(TCO
3) You have been called in as a consultant to set up a Kanban control
system. The first thing to do is to determine the number of Kanban card
sets needed. Your research shows that the expected demand during lead
time for a particular component is 150 per hour. You estimate the safety
stock should be set at 25% of the demand during lead time. The tote trays
used as containers can hold eight units of stock and the lead time it
takes to replenish an order is 2 hours. Which of the following is the
number of Kanban card sets necessary to support this situation?
42

47

68

89

94

Question
9. 9.(TCO
7) Using the cut-and-try method for aggregate operations planning, we can
determine the production requirement in units of product. If the
beginning inventory is 100 units, the demand forecast is 1,200, and the
necessary safety stock is 20% of the demand forecast, which of the
following is the production requirement?
1,200

1,300

1,340

1,500

1,540

Question
10. 10.(TCO
8) If annual demand is 6,125 units, annual holding cost is $5 per unit,
and setup cost per order is $50, which of the following is the EOQ lot
size?
350

247

23

185

78

Page: 1 2 3Time Remaining: Page 3Question 1. 1. (TCOs 1, 2, and 5) Discuss the role of
efficiency and effectiveness in the creation of value. (Points : 30) Question 2. 2. (TCOs 3, 5, and 6) Describe the relationship
between capacity utilization and quality in a service operation. (Points : 30) Question 3. 3. (TCOs 4, 6, and 7) Describe the aggregate
sales and operations planning process. (Points : 30)

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