NEW Comprehensive Supply Chain and Operations Management Quizlet: Key Concepts & Strategies

Is the Supply Chain framework composed of planning, sourcing, delivering, and returning?

FALSE

Can a worker be efficient without being effective?

TRUE

Are operations and supply chain important to investors who focus on growth?

FALSE

What does the triple bottom line social impact include?

Fair practices toward labor, community, and their region.

Is delivery speed a competitive dimension?

TRUE

Does straddling strategy mean firms broaden capabilities to compete better with focused firms requiring low cost for success?

FALSE

Is market research a quantitative forecasting method?

FALSE

Is a higher exponential smoothing constant better for forecasting high-growth?

TRUE

A Tracking signal is a plot of the MAD of a forecast at regular intervals over a period of time.

False

Does strategic capacity planning determine the overall capacity level of capital intensive resources?

TRUE

How are decision trees solved?

From the branches backward to the start of the tree.

Is a larger capacity cushion better?

FALSE

What does EVM combine measurements of?

Scope, schedule, and project cost.

Is the critical path the shortest chain in a project network of activities?

FALSE

What is the CPM's late start time?

The latest time you can start an activity and keep the entire project on schedule.

Do CPFR web systems often fail due to lack of trust among firms in the supply chain?

TRUE

What are Time Fences?

When the operation allows a specified level of opportunity for customer input to make changes.

Does Low Level Coding in MRP indicate the exact status of each item managed by the system in real time?

FALSE

What does the Economic Order Quantity (EOQ) lot sizing produce?

Exactly the amount of product that is needed each time.

Is strategic sourcing the management of suppliers to acquire goods and services that aids immediate and long term needs?

TRUE

What does the Bullwhip effect refer to?

Variability in demand that is magnified as we move downstream from the supplier.

Do Spot Purchases have lower transaction costs, lower specificity, and shorter contract durations?

TRUE

Does the proximity of the customer to the customer order decoupling point affect product receipt speed?

TRUE

What is the issue in make-to-stock?

Balancing the level of finished inventory against the level of customer service.

What is an output of the assembly line balancing procedure?

The precedence relationships of manufacturing tasks.

What does an inventory system manage?

Policies to monitor levels of inventory and determine when stock should be replenished and in what quantities.

If the cost to change from producing one product to another were almost zero, what could the lot size be?

Very small.

Is the fixed time period model appropriate for planning expensive raw materials used in production?

FALSE

What is cross-docking?

Combining smaller inbound shipments into larger shipments to the same destination.

What is the objective of manufacturing facility location analysis?

To select the site with the lowest total cost.

Does Toyota have better Inventory Turnover than General Motors?

TRUE

In Operations and Supply Chain Management, does material flow precede information flow?

FALSE

Can the OSCM strategy and the Marketing strategy be developed independently?

FALSE

Was the Exponential Smoothing Forecast more accurate if it had a higher MAD than a Weighted Moving Average Forecast?

FALSE

What does Sales & Operations Planning (SOP) manage?

Aggregate independent demand.

What does Materials Requirements Planning (MRP) manage?

Dependent demand that can be calculated.

Can forward buying in response to a marketing promotional campaign cause the Bullwhip Effect?

TRUE

Are processes associated with core competencies good candidates for outsourcing?

FALSE

What manufacturing layout strategy is appropriate for a firm producing high-variety low-volume parts?

Not an Assembly Line.

Is labor productivity more important than low wage rates for a location decision?

FALSE

Is a service system with high customer contact easier to control than one with low customer contact?

FALSE

What does a service blueprint do?

Separates tasks with high customer contact from activities with low customer contact.

Do service systems with a buffered approach require workers with higher skill than those with a reactive approach?

FALSE

What do activities on the critical path have?

No slack.

What is the critical path of a project?

The longest path through the network and the shortest time in which the project may be completed.

Is a project milestone defined as a group of related activities that produce a deliverable?

FALSE

What is an operational goal of Total Quality Management?

The careful design of the product or service.

Does producing high-quality products or services conflict with the strategic objectives of low cost and fast delivery?

FALSE

What is common variation in production systems?

Variation caused by factors that can be clearly identified and possibly managed.

Does lean production use a push system of inventory replenishment?

FALSE

What does Quality at the Source imply?

Factory workers will perform some inspections and maintenance activities required to control quality.

Is product in storage considered waste in Lean Supply Chains?

TRUE

What is productivity?

The ratio of outputs to inputs.

Is the Fixed-Quantity Period model appropriate for planning expensive raw materials used in production?

TRUE

Is it true that one of the disadvantages of a pure project organizational structure is that the project manager has full authority over the project?

False

Are forecasts of individual products typically less accurate than aggregate forecasts of product families?

True

Does value stream mapping involve materials, not information?

False

Are all luxury sedans said to be of 'higher quality' than lower-priced subcompact automobiles?

False

Does the 'triple bottom line' relate to the economic, employee, and customer impact of a firm's strategy?

False

In a multifactor measure of productivity, does the numerator of the ratio include all resources used for all inputs?

False

Does simple exponential smoothing lag changes in demand?

True

How can capacity be defined?

As the amount of available resource inputs relative to requirements for output over time.

Is the critical path in a CPM analysis found by locating the activities with large slack times?

False

What does assembling-to-order mean?

Moving the customer order decoupling point from finished goods to components.

Are costs incurred in hiring, training, and laying off personnel considered relevant aggregate operations planning costs?

True

What are the three main inputs to an MRP system?

The bill of materials, the master schedule, and the inventory records file.

Does the term 'conformance quality' refer to the relative level of performance of a product as compared to competing products?

False

In inventory models, do high holding costs tend to favor low inventory levels and frequent replenishment?

True

Is a financially-driven reason for outsourcing that it can turn variable costs into manageable fixed costs?

False

What is a firm that controls most of the activities in its supply chain said to be?

Vertically integrated.

Are there no differences in strategic and tactical forecasting?

False

When a firm's design capacity is less than the capacity required to meet its demand, what is it said to have?

A negative capacity cushion.

Is a rate fence a person who books airline seats at low rates far in advance and sells the seats at a profit later?

False

What does MRP provide?

The schedule specifying when each part and component of an end item should be ordered or produced.

Does the fixed-order quantity inventory model favor less expensive items because average inventory is lower?

False

What is an example of assignable variation in a production system?

A machine is not adjusted properly.

Is a matrix project often referred to as a 'skunkworks'?

False

What is one of the advantages of a functional project organizational structure?

A team member can work on several projects.

How can safety stock be defined?

As the amount of inventory carried in addition to the expected demand.

What is the Poisson probability distribution used for?

In waiting line management when we are interested in the number of arrivals to a queue during some fixed time period.

Does arrival characteristics in a queueing problem analysis include the length of the queue?

False

What might a fishbone diagram as part of a six-sigma quality improvement process be found in?

DMAIC category.

What is NOT a characteristic that distinguishes services from goods?

Service jobs are unskilled.

What happens to inventory turnover as average inventory decreases?

Inventory turnover increases.

Which job is least likely in operations or SCM?

Marketing analyst.

What is not a strategic operational competitive advantage?

Management Acumen.

If material usage per unit decreases by half, what will the firm do?

Double its total productivity.

What describes the degree of error?

Mean absolute deviation.

What are capacity planning for hiring, new tooling, minor equipment purchases, and subcontracting considered?

Intermediate Range.

Compared to a service, how is a manufacturer's capacity characterized?

Demand can be smoothed by inventory.

What is a work breakdown structure?

A definition of the hierarchy of project tasks, subtasks, and work packages.

What describes the main purposes of MRP?

To determine the amount of materials needed to produce each end item.

What is a key output of the MRP process?

Planned Order Releases.

What are all the following advantages of outsourcing except?

Increased logistics activities.

What does Total Cost of Ownership (TCO) estimate?

The full lifecycle costs.

What are examples of acquisition costs except?

Energy Costs.

What is a firm that works with a customer to design the product and then makes it from purchased materials and parts called?

Engineer to Order.

In an assemble to order environment, what is the highest level of inventory?

Semi-Finished Goods (Major Components).

In making decisions that affect inventory order quantity size, which costs do not need to be considered?

Fixed Costs.

What do ABC Inventory Classifications divide inventory items into?

Three groupings based upon dollar volume.