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






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






3. 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






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






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






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






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






8. 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






9. 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.






10. Demand that varies over time






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






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






13. Any asset held for future use or sale






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






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






16. 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.






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






18. Inputs to manufacturing and service-delivery processes.






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






20. One-time variation that is explainable






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






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






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






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






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






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






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






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






29. Finished goods scheduled from one or more components






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






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






32. Single item or asset stored at a particular location






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






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






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






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






37. 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.






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






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






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






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






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






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






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






45. 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






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






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






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






50. 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