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Which of the following strategies has the shortest delivery lead time and the least customer input?
Make-to-order
Configure-to-order
Assemble-to-order
Make-to-stock
Make-to-stock
Which of the following statements is best?
I. The conflict between marketing, finance and production centers on customer service, disruption to production, and inventory levels.
II. Marketing's objectives can be met with higher inventories.
III. Finance's objectives can be met with higher inventories.
Iv. Production's objectives can be met with higher inventories
A. all of the above are true
B. I and II only are true
C. I, II and III only are true
D. I, II and IV only are true
E. II, III and IV only are true
D. I, II and IV only are true
Postponement is best described as:
Delaying payment to a supplier until the goods have been sold
Delaying the removal of inventory until the last possible moment
Delaying the customer-specific differentiation until the last possible moment
Delaying the change to the BOM until the old components have been used up
Delaying the customer-specific differentiation until the last possible moment
In terms of INCREASING level of detail, which is the best sequence of activities?
I. Material requirements planning
II. Master production scheduling
III. Production planning
A. I, II and III
B. I, III, and II
C. II, III, and I
D. II, I, and III
E. III, II, and I
E. III, II, and I
Which basic production planning strategy will build inventory and avoid the costs of excess capacity?
A. demand matching (chase)
B. production leveling
C. subcontracting
D. all the above
E. none of the above
B. production leveling
Determining the need for labor, machines, physical resources to meet the production objectives of the firm is called:
A. production control
B. production planning
C. capacity planning
D. all of the above
E. none of the above
C. capacity planning
What does PESTEL stand for?
Political, economic, social, technology, environmental, and legal
What are the five forces of porter?
threat of entrants, substitutes, buyers, suppliers, rivalry
What does SMART stand for?
Specific, Measurable, Achievable, Relevant, and Time-bound
What is a strategic plan?
statement of the major goals and objectives the company expects to achieve
What is chase demand?
producing the amounts demanded at any given time
What is Production leveling?
continually producing an amount equal to the average demand
What is the formula for production leveling?
average daily production = total production units / total working days
What is the calculation method for level production ?
total production = total forecast + back orders (what you want to reduce to) + ending inventory - opening inventory
Note
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