Misc. Business Related MCQs

Misc. Business Related MCQs

1) is when the activities in the stage must stop because there is no place to deposit the item just completed A. BufferingB. BlockingC. StarvingD. Pacing2) According to your text, the most common process metric is A. productivityB. efficiencyC. utilizationD. throughput time3) Declining product prices A. increase the manufacturing costsB. lower the break-pointC. result in lower manufacturing costs D. increase the break-even point4) The type of processing structure that is used for producing discrete products at a controlled rate is A. job shopB. batchC. assembly lineD. project5) The best process flow structure to use for making automobiles is A. job shopB. batch shopC. group technology cell D. assembly line6) The break-even analysis is a standard approach to determine alternative processes A break-even analysis chart usually present alternative and based upon the units produced or sold A. demand, supplyB. profits, losses C. equipment, materialsD. variable, fixed costs7) A statistical term that refers to the philosophy and methods companies use to eliminate defects in their products and processes by establishing a quality goal of no more than four defects out of every million units isA. ISO 9000B. Six Sigma C. Total Quality ManagementD. SERVQUAL8) Independent demand is A. inventory where demand comes from independent suppliersB. inventory that is independent of any known rules of demand and supplyC. demand that is related to the demand for another item D. demand determined by the marketplace that requires forecasting9) An inventory system designed to ensure that an item will be available on an ongoing basis throughout the year is known as A. Optional Replenishment SystemB. Inventory Accuracy and Cycle CountingC. ABC Inventory Planning D. Multiperiod Inventory Systems10) A/an approach actually schedules in detail each resource using the setup and runtime required for each order A. infinite loadingB. finite loadingC. forward scheduling D. backward scheduling11) What is the net result of reducing the duration of a task (crashing) not on the critical path? A. Decreased project overhead costsB. Reduced likelihood of liquidated damages for late deliveryC. Increased slack time associated with the task D. Reduction in the project duration12) The idea of the value density calculation is A. finding a carrier that can handle the weightB. matching the weight of the product with an appropriate carrierC. deciding where items should be stocked geographically and how they should be shippedD. finding the minimum cost carrier13) When designing a supply chain, A. cost vs customer service must be consideredB. quality vs cost must be consideredC. lead times vs payment terms must be considered D. customer service vs product customization must be considered14) According to Hau Lee, which of the following types of products need to be delivered with efficient supply-chains? A. Custom productsB. Innovative productsC. Grocery products D. High technology products15) Which of the following product promotional activities would probably help make the supply chain more efficient? A. Price promotions that expire on a specific dateB. An everyday┬Ł low price strategy where prices are not dependent on quantity delivered with a specific orderC. Special packaging for a specific event that occurs one time each year D. A 2-for-1 price promotion16) The best operating level is A. the maximum point of the cost curveB. the level of capacity for which average unit cost is minimizedC. maximum capacity D. the level of capacity for which total cost is minimized17) Capacity utilization rate can be computed as A. Capacity used best operating levelB. Capacity used x best operating levelC. Capacity used / best operating levelD. Capacity used + best operating level18) The objective of is to provide an approach for determining the overall capacity level of capital-intensive resources that best supports the companys long-range competitive strategy A. workforce managementB. management supervisionC. operations management D. strategic capacity planning19) Lean production systems typically require A. delivery of large lots at frequent intervalsB. buyer inspection of goods and materialsC. multiple sources from which to purchase D. low inventory levels throughout production20) Given that the previous forecast of 65 turned out to be four units less than the actual demand The next forecast is 66 What would be the value of alpha if the simple exponential smoothing forecast method is being used? A. 002B. 04C. 004 D. 0.2521) Linear regression sales forecasting techniques A. work best when future sales are randomly distributedB. will not work for declining salesC. work best when sales are increasing D. will not work if future sales forecasts lie on a curve22) What should the value of alpha be in an exponential smoothing forecast to be very responsive to recent demand? A. LargeB. SmallC. Negative D. Zero23) Which of the following statements are true about time-series forecasting? A. Time series analysis employs empirical data to forecast future eventsB. Time series analysis is used to understand the system underlying and surrounding the item being forecastC. Under time-series methods, demand is divided into the time-based components such as daily, weekly, etcD. Time series methods are useful for long-range forecasts when the demand pattern is erratic24) One option for altering the pattern of demand is A. hiring employeesB. using overtimeC. carrying inventoryD. pricing25) Aggregate planners balance A. demand and costsB. demand and inventoriesC. demand and capacity D. supply and inventories26) Which of the following accurately describes a chase strategy? A. The firm produces the same amount each day over the planning period and deals with the variations in demand through the use of inventory or overtimeB. The firm produces at the same level for several months, and then adjusts production to another level and produces at that level for several more monthsC. The firm matches its production rate to meet demand by varying the size of its workforce as demand varies D. The firm produces the same amount each day within the planning period and deals with variations in demand through the use of outsourcing partners27) Which of the following reflects net material requirements: A. gross requirements scheduled receiptsB. gross requirements projected available balance + scheduled receiptsC. gross requirements projected available balance scheduled receiptsD. gross requirements scheduled releases28) Which MRP system input element specifies how many and when the firm plans to build each end item? A. Inventory records fileB. Bills of materialC. Master production scheduleD. Capacity planning29) Which of the following is true about MRP Systems? A. Based on independent demandB. Lot sizing is based on Economic Order QuantityC. Demand pattern is randomD. Objective is to meet manufacturing needs30) A Material Requirements Planning (MRP) is most valuable in industries where a number of products are made in batches using the same productive equipment and with companies involving A. fabricationB. low number of units annuallyC. complex, expensive products D. assembly operations


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