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. The amount of time by which the completion time exceeds the due date






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






3. Sometimes called noise - is the unexplained deviation of a time series from a predictable pattern - such as a trend - seasonal - or cyclical pattern.






4. Finished goods scheduled from one or more components






5. Is a carefully planned study designed to yield specific information about the performance of a process user specified operating conditions






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






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






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






9. The expenses associated with carrying inventory






10. Refers to determining the order in which jobs or tasks are processed






11. The development of a long-term output and recourse plan in aggregate unites of measure






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






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






14. Single item or asset stored at a particular location






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






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






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






18. Incurred as a result of the work involved in the placing orders with supplies or configuring tools - equipment - and machines within a factory to produce an item






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






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






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






22. Specifies the planned quantity and time an order is to be released to the factory or a supplier






23. 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.






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






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






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






27. Orders that are due or planned to be delivered






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






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






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






31. 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.






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






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






34. 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.






35. Is the time needed to process a given set of jobs






36. Demand that varies over time






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






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






39. 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






40. One-time variation that is explainable






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






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






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






44. 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.






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






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






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






48. Stable demand






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






50. Is the expected amount of inventory on-hand at the beginning of the time period considering on-hand inventory from the previous period plus scheduled receipts or planned order receipts minis the gross requirements