Test your basic knowledge |

Operations Management

Subject : business-skills
Instructions:
  • Answer 50 questions in 15 minutes.
  • If you are not ready to take this test, you can study here.
  • Match each statement with the correct term.
  • Don't refresh. All questions and answers are randomly picked and ordered every time you load a test.

This is a study tool. The 3 wrong answers for each question are randomly chosen from answers to other questions. So, you might find at times the answers obvious, but you will see it re-enforces your understanding as you take the test each time.
1. Based on the assumption that the future will be an extrapolation of the past






2. Deals with the planning - executing and control of all the resources that are used to produce goods or provide services in a value chain.






3. Relies upon opinions and expertise of people in developing forecasts






4. The order quantity or lot size is fixed that is - the same about - Q - is ordered every time.






5. Finished goods scheduled from one or more components






6. The result of complex interactions of variations in materials - tools - machines - information - workers - and the environment.






7. Is asking those who are close to the end consumer - such as salespeople - about the customers purchasing plans






8. The process of determining the amount of labor and machine resources required to accomplish the tasks of production on a more detailed level - taking into account all component parts and end items in the materials plan.






9. Demand that is directly related to the demand of other SKU's and can be calculated without needing to the forecasted






10. Is calculated from data that are measured as the degree of conformance to a specification on some continuous scale of measurement






11. Any asset held for future use or sale






12. Always has at least one immediate parent and also has at least one immediate component






13. Means the people responsible for the work control the quality of their processes by identifying and correcting any defects or error when they first are recognized or occur






14. Single item or asset stored at a particular location






15. Stable demand






16. The time period size used in the MRP explosion process and usually are one week in length






17. The amount of time a job send in the shop or factory






18. Is additional planned on-hand inventory that acts as a buffer to reduce the risk of a stockout






19. No special causes affect the output of a process - we say that the process is






20. Consists of partially finished products in various stages of completion that are waiting further processing






21. Refers to the assignment of start and completion times to particular jobs - people or equipment






22. The relationship between the natural variation specifics is often quantified by a measure






23. Is a hierarchical record analogous to a BOM that defines labor inputs necessary to create a good or service






24. Sets the production rate equal to the demand in each time period






25. The difference between the completion time and the due date






26. Orders that are due or planned to be delivered






27. Occurs when the customer is unwilling to wait and purchase the item elsewhere






28. Is defined as the on-hand quantity plus any orders placed but which have not arrived(called scheduled receipts - SR) minus any backorders






29. The process of using the logic of dependent demand to calculate the quantity of timing of orders of all subasemblies and components that go into and support the production of the end items






30. Is an additional amount that is kept over and above the average amount required to meed demand






31. When special causes are present - the process is said to be






32. The current time period






33. Are characterized by repeatable periods of ups and downs over short periods of time






34. Sometimes called a periodic review system is one in with the inventory position is checked only at fixed intervals of time - T - rather than on a continuous basis.






35. A linear regression model with more than one independent variable is






36. Costs associated with an SKU being unavaiable when needed to meed demand






37. Model is a classic economic model developed in the early 1900's that minimizes the total cost - which is the sum of the inventory-holding cost and the ordering cost.






38. The time between placement of an order and its receipt






39. Demand that varies over time






40. Consists of forecasting by expert opinion by gathering judgments and opinions of key personnel based on their experience and knowledge of the situation.






41. The expenses associated with carrying inventory






42. Set of observations measured at successive points in time or over successive periods of time






43. The process of determining the appropriate amount of timing of ordering to reduce costs






44. The united of measure for the time period used in a forecase






45. Inventory that results from purchasing or producing in larger lists than are needed for immediate consumption or sale






46. Any item manufactured parts - purchased parts) other than an end item that go into a higher-level parent items






47. The value of the inventory position that triggers a new order






48. Refers to the natural variation in a process that results from common causes






49. Occurs when a customer is willing to wait for the item






50. Is methodology for monitoring quality of manufacturing and service delivery processes to help identify and eliminate unwanted causes of variation