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






2. The current time period






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






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






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






6. 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






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






8. Rd from data that are counted






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






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






11. One-time variation that is explainable






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






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






14. Demand that varies over time






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






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






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






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






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






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






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






22. 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






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






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






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






26. 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






27. 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.






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






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






30. 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






31. The tendency of forecasts to consistently be larger or smaller than the actual values of the time series






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






33. Stable demand






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






35. 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.






36. Single item or asset stored at a particular location






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






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






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






40. Statement of how many finished items are to be produced and when they are to be produced






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






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






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






44. Inputs to manufacturing and service-delivery processes.






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






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






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






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






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