Busi 411 exam 4 | Operations Management homework help

Question 1    The need for safety stocks can be reduced by an operations strategy which:    increases lead time.    increases lead time variability.    increases lot sizes.    decreases ordering costs.    decreases lead time variability. 3 points    Question 2    The materials manager for a billiard ball maker must periodically place orders for resin, one of the raw materials used in producing billiard balls. She knows that manufacturing uses resin at a rate of 50 kilograms each day, and that it costs $.04 per day to carry a kilogram of resin in inventory. She also knows that the order costs for resin are $100 per order, and that the lead time for delivery is four days. At what point should resin be reordered?    0 kilograms remaining    50 kilograms remaining    200 kilograms remaining    400 kilograms remaining    500 kilograms remaining 3 points    Question 3    Which of the following interactions with vendors would potentially lead to inventory reductions?    reduced lead times    increased safety stock    less frequent purchases    larger batch quantities    longer order intervals 3 points    Question 4    An operations strategy for inventory management should work toward:    increasing lot sizes.    decreasing lot sizes.    increasing safety stocks.    decreasing service levels.    increasing order quantities. 3 points    Question 5    A manufacturer is contemplating a switch from buying to producing a certain item. Setup cost would be the same as ordering cost. The production rate would be about double the usage rate. Compared to the EOQ, the maximum inventory would be approximately:    70 percent higher.    30 percent higher.    the same.    30 percent lower.    70 percent lower. 3 points    Question 6    Which of the following is not something commonly found in lean systems?    (I) Waste reduction (II) Output match to a detailed forecast (III) Visual controls (IV) Quick changeovers (V) Long production runs    both I and V    both II and V    both II and IV    both IV and V    both III and V 3 points    Question 7    Which of the following is not a benefit of small lot sizes in lean systems?    In-process inventory is considerably less.    Each product is produced less frequently.    Carrying costs are reduced.    There is less clutter in the workplace.    Inspection and rework costs are less. 3 points    Question 8    For a company with a product mix of 40 percent of product A and 30 percent each of products B and C, which of the following mixed-model sequences best reflects the lean philosophy?    AABBCCAABC    ABCABCABCA    AAAABBBCCC    BCABCABCAB    BBBAACCCAA 3 points    Question 9    Which of the following is characteristic of the lean philosophy?    Inventories are an asset.    Lot sizes are optimized by formula.    Close, long-term relationships with vendors.    Queues are a necessary investment.    All of the choices. 3 points    Question 10    Having a vendor be responsible for managing the restocking of inventory is what is meant by the term:    JIT II.    MRP II.    SCM I.    EOQ III.    POQ II. 3 points    Question 11    Which of the following is not a benefit of centralized purchasing?    potential for quantity discounts    better service from suppliers    quick response to local needs    potential for use of purchasing specialists    supplier research 3 points    Question 12    One important role of purchasing is to:    set quality standards for purchased items from suppliers.    be knowledgeable about new products from suppliers.    maintain numerous sources of supply.    obtain the lowest prices on all purchased items.    determine the processes that should be used by suppliers. 3 points    Question 13    _________ has/have helped firms to concentrate on their core business.    Supply chains    Scheduling    Outsourcing    ERP    Lean production 3 points    Question 14    Small changes in consumer demand can result in large variations in orders placed because of the:    supply chain.    safety stock requirement.    lead time effect.    bullwhip effect.    FCFS scheduling. 3 points    Question 15    Which of the following is least likely to be a key consideration when a company chooses a supplier?    lead time and on-time delivery    reputation and financial stability    current inventory    quality and quality assurance    flexibility of design change 3 points    Question 16    The following table contains information about five jobs waiting to be processed at work center number three.   Job Processing Time (hrs) Hours Until Due a 14 15  b 10 20  c 18 18  d 2 16  e 4 21  ________________________________________  The sequence that would result using the SPT rule is:    e-b-c-d-a.    c-a-b-e-d.    a-d-c-e-b.    d-e-b-a-c.    e-d-b-a-c. 3 points    Question 17    The president of a consulting firm wants to minimize the total number of hours it will take to complete four projects for a new client. Accordingly, she has estimated the time it should take for each of her top consultants—Charlie, Betty, Johnny, and Rick—to complete any of the four projects, as follows:     Project (Hours) Consultant A B C D Charlie 13 16 11 13  Betty 11 15 14 18  Johnny 15 22 12 15  Rick 17 17 12 22  ________________________________________  Assume there must be one-to-one matching between consultants and projects. For the optimal schedule, what is the total number of hours it will take these consultants to complete these projects?    53 hours    46 hours    50 hours    61 hours    54 hours 3 points    Question 18    The operations manager of a body and paint shop has five cars to schedule for repair. He would like to minimize the makespan to complete all work on these cars. Each car requires body work prior to painting. The estimates of the times required to do the body and paint work on each are as follows:   Car Body Work (hrs) Paint (hrs) A 10 2  B 5 4  C 7 5  D 3 6  E 1 7  ________________________________________  Where in the optimum sequence should car E be scheduled?    first    second    third    fourth    fifth 3 points    Question 19    Eva, the owner of Eva’s Second Time Around Wedding Dresses, currently has five dresses to be altered, shown in the order in which they arrived:   Job Processing Time (hrs) Due (hrs from now) V 3 5  W 1 1  X 4 9  Y 2 3  Z 5 7  ________________________________________  If Eva uses the shortest processing time first (SPT) priority rule to schedule these jobs, what will be the average completion time?    3 hours    5 hours    7 hours    7.2 hours    8 hours 3 points    Question 20    The priority rule where jobs are processed according to the smallest ratio of time remaining to due date to processing time is:    CR.    EEDD.    FCFS.    S/O.    SPT. 3 points    Question 21    The basic EOQ model ignores the purchasing cost.  True   False  3 points    Question 22    A 30 percent reduction in product and service variety will not affect the efficiency of a supply chain.  True   False  3 points    Question 23    RFID eliminates the need for manual counting and bar-code scanning of goods at receiving docks.  True   False  3 points    Question 24    A Gantt chart is a basic scheduling tool that is most useful in low-volume systems.  True   False  3 points    Question 25    The elimination of idle time on both bottleneck and non-bottleneck operations must be accomplished to optimize output.  True   False