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OPS571 Operations Management final exam  10 questions  


21) Linear regression sales forecasting techniques


    A.   work best when future sales are randomly distributed

    B.   will not work for declining sales

    C.   work best when sales are increasing

    D.   will not work if future sales forecasts lie on a curve



22) What should the value of alpha be in an exponential smoothing forecast to be very responsive to recent demand?


    A.   Large

    B.   Small

    C.   Negative

    D.   Zero



23) Which of the following statements are true about time-series forecasting?


    A.   Time series analysis employs empirical data to forecast future events

    B.   Time series analysis is used to understand the system underlying and surrounding the item being forecast

    C.   Under time-series methods, demand is divided into the time-based components such as daily, weekly, etc

    D.   Time series methods are useful for long-range forecasts when the demand pattern is erratic



24) One option for altering the pattern of demand is


    A.   hiring employees

    B.   using overtime

    C.   carrying inventory

    D.   pricing



25) Aggregate planners balance


    A.   demand and costs

    B.   demand and inventories

    C.   demand and capacity

    D.   supply and inventories



26) Which of the following accurately describes a chase strategy?


    A.   The firm produces the same amount each day over the planning period and deals with the variations in demand through the use of inventory or overtime

    B.   The firm produces at the same level for several months, and then adjusts production to another level and produces at that level for several more months

    C.   The firm matches its production rate to meet demand by varying the size of its workforce as demand varies

    D.   The firm produces the same amount each day within the planning period and deals with variations in demand through the use of outsourcing partners


27) Which of the following reflects net material requirements:

    A.   gross requirements – scheduled receipts

    B.   gross requirements – projected available balance + scheduled receipts

    C.   gross requirements – projected available balance - scheduled receipts

    D.   gross requirements – scheduled releases



28) Which MRP system input element specifies how many and when the firm plans to build each end item?

    A.   Inventory records file

    B.   Bills of material

    C.   Master production schedule

    D.   Capacity planning



29) Which of the following is true about MRP Systems?


    A.   Based on independent demand

    B.   Lot sizing is based on Economic Order Quantity

    C.   Demand pattern is random

    D.   Objective is to meet manufacturing needs



30) A Material Requirements Planning (MRP) is most valuable in industries where a number of products are made in batches using the same productive equipment and with companies involving


    A.   fabrication

    B.   low number of units annually

    C.   complex, expensive products

    D.   assembly operations


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