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. One-time variation that is explainable






2. Finished goods scheduled from one or more components






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






4. 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






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






6. 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






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






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






9. 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






10. Based on the assumption that the future will be an extrapolation of the past






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






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






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






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






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






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






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






18. Demand that varies over time






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






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






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






22. Single item or asset stored at a particular location






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






24. Rule uses a fixed order size for every order or production run






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






26. The expenses associated with carrying inventory






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






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






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






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






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






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






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






34. Arises from external sources that are not inherent in the process - appear sporadically and disrupt the random pattern of common causes






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






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






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






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






39. 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.






40. 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.






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






42. 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.






43. The current time period






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






45. Rd from data that are counted






46. Orders that are due or planned to be delivered






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






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






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






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