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






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






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






4. One-time variation that is explainable






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






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






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






8. The inability to satisfy the demand for an item






9. Inputs to manufacturing and service-delivery processes.






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






11. 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






12. Is completed products ready for distribution or sale to customers






13. 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.






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






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






16. The current time period






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






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






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






20. Rd from data that are counted






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






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






23. 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






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






25. 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






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






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






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






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






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






31. Any asset held for future use or sale






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






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






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






35. Is a method for building a statistical model that defines a relationship between a single dependent variable and one or more independent variables - all of which are numerical






36. 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






37. Involves planning - coordinating - and controlling the acquisition - storage - handling - movement - distribution - and possible sale of raw materials - component parts and subassemblies - supplies and tools - replacement parts - and other






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






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






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






41. The expenses associated with carrying inventory






42. Single item or asset stored at a particular location






43. Demand for an SKU that is unrelated to the demand for other SKU and needs to be forecasted






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






45. Orders that are due or planned to be delivered






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






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






48. The difference between the observed value of the time series and the forecast AT-FT*






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






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