Build product in anticipation of demand

Assignment Help Business Management
Reference no: EM13910444

1.An advantage of a make-to-stock process is which of the following?

It responds directly to customer orders
It allows the firm to avoid inventory costs
Rapid delivery of a standard product
All units of output are unique


2.According to Little's law, which of the following can be used to estimate inventory?

Set up time times throughput rate
Process time times cycle time
Process velocity times flow time
Throughput rate times flow time

3.Which of the following is a principle of reengineering?

Integrate the outcomes of parallel activities
Organize around the tasks
Treat geographically dispersed resources as though they were centralized
Capture information many times, at the source and where it is interpreted

4.Which of the following is one of the major types of stakeholders impacted by most consulting projects?

International government regulators
Other consultants
Board of directors
Suppliers

5.In the pull system, which of the following is the partner that begins the process of pulling?

Vendors
Executive management
Customers
Quality control personnel

6.Which of the following production process terms best describes a stage in a multiple-stage process that limits the capacity of the overall process?

Bottleneck
Buffer
Starving
Blocking

7.To implement a flow process in developing a lean system, a firm might do which of the following?

Eliminate some fixed costs
Build product in anticipation of demand
Reduce setup/changeover time
Improve capacity utilization

8.Which of the following operations consulting tools are used in the cost impact and payoff analysis stage in the operations consulting process?

SPC tools and bottleneck analysis
Decision trees and stakeholder analysis
Plant audits and statistical tools
Customer surveys and gap analysis

9.If the run time for a batch of parts is 25 minutes on a machine, and the setup time is 75 minutes, which of the following is the operation time?

100 minutes
75 minutes
3 minutes
25 minutes

10.Which of the following are possible examples of cycle times?

Time required to produce a batch of parts
Time it takes for an instructor to grade an exam
Time to set up a new assembly line
Time that a part waits in queue

11.Which of the following is a key metric associated with value stream mapping?

Lead time
Product demand
Defects per million operations
Fixed costs

12.In contrast to TQM, what approach seeks radical change through innovation?

Lean manufacturing
Reengineering
Project management
JIT distribution

13.What is the term that refers to "the fundamental rethinking and radical redesign of business processes to achieve dramatic improvements in critical, contemporary measures of performance, such as cost, quality, service, and speed" (as cited in Jacobs & Chase, 2011, p. 461).

TQM
Operations consulting process
Reengineering
Continuous improvement

14.Lean production seeks to achieve high volume production using which of the following?

Minimize utilization
Maximize inventory of work-in-process
Minimize inventory of raw materials
Maximize capacity

15.Which of the following operations consulting tools provide summary performance updates for specific processes and are generally presented in graphical form with color-coding of trend lines and alarms?

Responsibility charts
Stakeholder analysis
Process dashboards
Decision trees

16.Which of the following production process terms best describes the situation when activities in a stage of production must stop because there is no work?

Buffering
Blocking
Starving
Multiple-stage processing
In

17.Which of the following is a factor that causes a diseconomy of scale?

Increased utilization
Increased transportation costs
Increased product value and prices
Increased total operating costs

18.Which of the following is a situation that likely will yield economies of scale?

Factory that fully utilizes dedicated resources for information technology, material handling, and administrative support
Large factory with dedicated capacity that is able to produce twice the number of units as locally demanded
Company with factories in multiple countries that produces products for local demand
Factory that produces low volume, customized products

19.In setting up a kanban control system, you need to determine the number of kanban card sets needed. If the average number of units demanded is 1,000 per hour, the lead time to replenish the order for this item is 10 hours, the container size is 5 units, and the safety stock is estimated to be 5% of the expected demand, what is the number of kanban card sets needed?

1,050

210

2,100

440

20.Which of the following terms refers to a special type of flowcharting tool that is valuable for the development of lean processes?

Kanban production control system
Kaizen
Value stream mapping
JIT production

21.The basic notion of economies of scale assumes which of the following?

Total cost of output drops as volume increases
Two plants can be operated at the same cost as a single plant
A piece of equipment with twice the capacity of another piece typically costs twice as much to purchase and to operate
Average cost per unit of output drops as a plant gets larger and volume increase

Reference no: EM13910444

Questions Cloud

Chemical change or a physical change : A blue Cu (II) cation salt solution was mixed with a green Ni (II) cation salt solution and an aqua colored solution resulted. Is this a chemical change or a physical change?
Country analysis: essay using the business and country : Country Analysis: Essay Using the business and country selected in Unit I, prepare a Word document of the political structure and economic environment, including important political events that may lead to success or high risk due to business expansi..
Discuss the importance and significance of time value : Discuss the importance and significance of time value of money? It is a Fin320 question, please answer about 200-250 words.
Critique the best practices : Find companies noted for best practices in Financial Statement Analysis. Describe what these best---practice companies do in the field of Financial Statement Analysis. What are the similarities across companies?
Build product in anticipation of demand : To implement a flow process in developing a lean system, a firm might do which of the following-Eliminate some fixed costs-Build product in anticipation of demand-Reduce setup/changeover time
What is the mean of accounting : What is the mean of Accounting?And what can we get when we learn about accounting?
Is there an improvement in parent satisfaction : Is there an improvement in parent satisfaction from January to June? And are new students more satisfied than returning students
Stable roe despite a steadily falling operating income : If a firm reduced its allowance for bad debts from 2.5% to 1.5%, would there be any immediate impacts on operating income or operating cash flows?A firm has been generating a stable ROE despite a steadily falling operating income. Give one reason why..
Business environment and businesses are constantly : In this highly competitive business environment, businesses are constantly seeking ways to gain traction and understand what is on the minds of current customers and potential customers in order to increase business efficiency.

Reviews

Write a Review

Business Management Questions & Answers

  Use the department of labour''s website

Use the Department of Labour's website as well as find the area on Registered Apprenticeship. Explore the For Employers section.

  Explain the perceived advantage of the employed strategy

Explain the perceived advantage of the employed strategy in the companies HP/Compaq.

  Cost structures of various modes of transportation

Discuss how you will apply what you have learned from the article in a professional setting. How does the article relate to real world applications or your business?

  Some examples of historical events

What are some examples of historical events that illustrate the effects of good quality on an organization's strategic plan.

  Explain about strategic management - vertical

explain about strategic management - vertical integrationunder what circumstances might a long-term strategic alliance

  Determine organizational structure of your selected firm

determine the organizational structure of your selected organization on the Ford Motor Industry.

  Budget of parks and recreation department- what would you do

The budget of the Parks and Recreation Department that you head is stretched to the limit. The city council seems unwilling to add any resources to support new programs you think would benefit the community.

  Future prospects of unions in the service industry

Discuss what kinds of occupational complaints do service employees have? Would unionization may be able to help resolve some of those complaints?

  Explain bert had his driver''s license deferred by the state

Bert had his driver's license deferred by the state department of transportation. He trusts his constitutional due process rights were violated

  Alignment of business strategy and hrm

A common theme observed in the modern organizations today is poor alignment of business strategy and HRM strategy. Find out an article(s) through ProQuest which discusses the benefits of aligning HRM activities with main business initiatives.

  Why is an entrepreneurial attitude important

Why is an entrepreneurial attitude important in large corporations today?

  Explain what are the benefits and drawbacks of food service

Analyze your findings and answer the following question based on your research and personal opinion and Explain What are the benefits and drawbacks of food service contracts?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd