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. Finished goods scheduled from one or more components






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






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






4. The inability to satisfy the demand for an item






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






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






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






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






9. 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.






10. Single item or asset stored at a particular location






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






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






13. 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






14. 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






15. 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






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






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






18. 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.






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






20. 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.






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






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






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






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






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






26. 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






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






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






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






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






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






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






33. 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






34. 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






35. Rd from data that are counted






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






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






38. The time period size used in the MRP explosion process and usually are one week in length






39. 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






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






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






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






43. Costs associated with an SKU being unavaiable when needed to meed demand






44. Any asset held for future use or sale






45. 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






46. Is the process of translating aggregate plans into short-term operational plants that provide the basis for weekly and daily schedules and detailed resource requirements






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






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






49. 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.






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