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. Demand is directly related to the demand of other SKUs and can be calculated with needing to be forecasted






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






3. Stable demand






4. Inputs to manufacturing and service-delivery processes.






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






6. Finished goods scheduled from one or more components






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






8. The tendency of forecasts to consistently be larger or smaller than the actual values of the time series






9. The current time period






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






11. The inability to satisfy the demand for an item






12. The length of time on which a forecast is based






13. Is the desired probability of not having a stockout during a lead time period






14. The total demand for an item derived from all of its parents






15. Any asset held for future use or sale






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






17. Demand that varies over time






18. Is the price paid for purchased goods or the internal cost of producing them






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






20. The underlying pattern of grown or decline in a time series






21. Refers to moving work from one workstation to another - assigning people to task - setting priorities for jobs - scheduling equipment - and controlling processes






22. Is a forecasting technique that uses a weighted average of past time-series values to forecast the value of the time series in the next period






23. Statement of how many finished items are to be produced and when they are to be produced






24. Defines the quantify and timing for assembling subassemblies and component parts into a final finished food.






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






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






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






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






29. 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.






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






31. One-time variation that is explainable






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






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






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






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






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






37. 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.






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






39. plans for the same production rate in each time period






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






41. 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.






42. Forecast is an average of the most recent "k" observations in a time series






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






44. Orders that are due or planned to be delivered






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






46. Single item or asset stored at a particular location






47. A forward-loooking - demand-based approach for planning the production of manufactured goods and ordering materials and components to minimize unnecessary inventories and reduce costs.






48. The process of projecting the values of one or more variables into the future






49. An ordering schedule that covers the gross requirements for each week






50. Are regular patterns in a data series that take place over long periods of time