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






2. 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






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






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






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






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






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






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






9. 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.






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






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






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






13. Demand that varies over time






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






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






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






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






18. 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.






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






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






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






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






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






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






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






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






27. 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






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






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






31. The current time period






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






33. One-time variation that is explainable






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






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






36. 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






37. Finished goods scheduled from one or more components






38. Rd from data that are counted






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






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






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






42. Any asset held for future use or sale






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






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






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






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






47. 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






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






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






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