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






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






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






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






5. 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






6. 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.






7. The expenses associated with carrying inventory






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






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






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






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






12. One-time variation that is explainable






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






14. Orders that are due or planned to be delivered






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






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






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






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






20. 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.






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






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






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






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






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






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






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






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






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






30. 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






31. 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.






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






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






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






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






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






37. 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






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






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






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






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






42. 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.






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






44. Any asset held for future use or sale






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






46. Single item or asset stored at a particular location






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






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






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






50. The current time period