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






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






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






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






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






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






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






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






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






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






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






12. Any asset held for future use or sale






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






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






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






16. 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






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






18. 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.






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






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






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






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






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






25. Stable demand






26. Finished goods scheduled from one or more components






27. Orders a quantity equal to the gross requirement quantity in one or more predetermined time periods minus the projected on-hand quantity of the previous time period.






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






29. 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






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






31. To ensure that a good or service conforms to specifications and meets customer requirements by monitoring and measuring processes and making any necessary adjustments to maintain a specified level of performance






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






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






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






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






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






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






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






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






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






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






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






43. The inability to satisfy the demand for an item






44. The expenses associated with carrying inventory






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






46. One-time variation that is explainable






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






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






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






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