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BUSI 411 Exam 4 – 202120 Spring 2021
BUSI
International Business (Liberty University)
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interval model is appropriate, and solve typical
problems.
Topic: How Much to Order: Fixed-Order-
Interval Model
Question 2
3 out of 3 points
In the single-period model, if excess cost is double the shortage cost, the
approximate stockout risk, assuming an optimum service level, is
percent.
Selected Answer: 67
Response correct
Feedback:
MC Qu. 96 In the single-period model, if excess cost...
AACSB: Analytical Thinking
Accessibility: Keyboard
Navigation
Blooms: Apply
Difficulty: 3 Hard
Learning Objective: 13-13 Describe situations in which the
single-period
model is appropriate and solve typical problems.
Topic: The Single-Period Model
Question 3
3 out of 3 points
The Operations Manager for Shadyside Savings & Loan orders cash from
her home office for her very popular "BIG BUCKS" automated teller
machine, which only
dispenses $100 bills. She estimates that this machine
dispenses an average of 12,500
bills per month, and that carrying a bill in
inventory costs 10 percent of its value annually. She knows that each
order for these bills costs $300 for clerical and armored car delivery
costs, and that order lead time is six days. Assuming a 30-day month,
what is the economic order quantity?
Selected Answer: 3,000 bills
Response correct
Feedback:
MC Qu. 123 The Operations Manager for Shadyside
Savings...
AACSB: Analytical Thinking
Accessibility: Keyboard
Navigation
Blooms: Apply
Difficulty: 2 Medium
Learning Objective: 13-08 Describe the basic EOQ model and
its
assumptions and solve typical problems.
Topic: How Much to Order: Economic Order Quantity Models
Question 4
3 out of 3 points
The Operations Manager for Shadyside Savings & Loan orders cash
from her home office for her very popular "BIG BUCKS" automated
teller machine, which only
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dispenses $100 bills. She estimates that this machine dispenses an average
of 12,500
bills per month, and that carrying a bill in inventory costs 10
percent of its value annually. She knows that each order for these bills
costs $300 for clerical and armored car delivery costs, and that order
lead time is six days. Assuming a 30-day month, if she were to order
6,000 bills at a time, what would be the dollar value of the average
inventory level?
Selected Answer: $300,000
Response correct
Feedback:
MC Qu. 121 The Operations Manager for Shadyside
Savings...
AACSB: Analytical Thinking
Accessibility: Keyboard
Navigation
Blooms: Apply
Difficulty: 2 Medium
Learning Objective: 13-08 Describe the basic EOQ model and
its
assumptions and solve typical problems.
Topic: How Much to Order: Economic Order Quantity Models
Question 5
3 out of 3 points
In the basic EOQ model, if lead time increases from five to 10 days, the EOQ will:
Selected Answer:
remain the same.
Response correct
Feedback:
MC Qu. 76 In the basic EOQ model, if lead time
increases... AACSB: Analytical Thinking
Accessibility: Keyboard
Navigation
Blooms: Analyze
Difficulty: 2 Medium
Learning Objective: 13-08 Describe the basic EOQ model and
its
assumptions and solve typical problems.
Topic: How Much to Order: Economic Order Quantity Models
Question 6
3 out of 3 points
In the lean philosophy, the ideal lot size is:
Selected Answer:
one unit.
Response correct
Feedback:
MC Qu. 54 In the lean philosophy, the ideal lot size...
AACSB: Reflective Thinking
Accessibility: Keyboard
Navigation
Blooms: Remember
Difficulty: 1 Easy
Learning Objective: 14-08 Identify and briefly discuss the four
building
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blocks of a lean production
system.
Topic: Building Blocks
Question 7
3 out of 3 points
Previously, management calculated the number of kanban cards allowed
by using a
value of 1.3 for X. Assuming nothing else (e.g., usage rates,
container capacities, etc.),
which of the following values for X would
indicate management's belief that the system has become more
efficient?
Selected Answer: 1.2
Response correct
Feedback:
MC Qu. 79 Previously, management calculated the number...
AACSB: Reflective Thinking
Accessibility: Keyboard
Navigation
Blooms:
Understand
Difficulty: 1 Easy
Learning Objective: 14-08 Identify and briefly discuss the four
building
blocks of a lean production system.
Topic: Building Blocks
Question 8
3 out of 3 points
Which of the following would not contribute to making services more lean?
Selected Answer:
Have service workers handle multiple tasks
simultaneously.
Response correct
Feedback:
MC Qu. 77 Which of the following would not contribute
to making...
AACSB: Reflective Thinking
Accessibility: Keyboard
Navigation
Blooms: Understand
Difficulty: 2 Medium
Learning Objective: 14-11 Describe some of the obstacles to
lean
success.
Topic: Lean Services
Question 9
3 out of 3 points
A basic requirement for operating with the low inventories present in lean
systems is:
Selected Answer:
Major problems must have been solved.
Response correct
Feedback:
MC Qu. 58 A basic requirement for operating with
the...
AACSB: Reflective Thinking
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Accessibility: Keyboard
Navigation
Blooms: Remember
Difficulty: 3 Hard
Learning Objective: 14-08 Identify and briefly discuss the four
building
blocks of a lean production system.
Topic: Building Blocks
Question 10
3 out of 3 points
A conveyance
signals parts movement.
Selected Answer: kanban
Response correct
Feedback:
MC Qu. 56 A conveyance signals parts
movement: AACSB: Reflective Thinking
Accessibility: Keyboard
Navigation
Blooms: Remember
Difficulty: 2 Medium
Learning Objective: 14-08 Identify and briefly discuss the four
building
blocks of a lean production system.
Topic: Building Blocks
Question 11
3 out of 3 points
The purchasing cycle begins with:
Selected Answer:
receiving a requisition.
Response The requisition notes what is needed, in what quantity, and when
it is
Feedback: needed.
MC Qu. 71 The purchasing cycle begins with:
AACSB: Reflective Thinking
Accessibility: Keyboard
Navigation
Blooms: Remember
Difficulty: 1 Easy
Learning Objective: 15-10 Discuss procurement in terms of the
purchasing interfaces, the purchasing cycle, ethics, and
centralized
versus decentralized decision making.
Topic: Procurement
Question 12
3 out of 3 points
A given inventory item has a per-year holding cost of $500. One
method of shipping this item is three days faster than the other, but it
is $2.50 more per unit. Using the slower method would be more
expensive overall than using the faster method.
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Selected Answer: $1.61
Response correct
Feedback:
MC Qu. 87 A given inventory item has a per-year
holding...
AACSB: Analytical Thinking
Accessibility: Keyboard
Navigation
Blooms: Apply
Difficulty: 2 Medium
Learning Objective: 15-12 Discuss the logistics aspects of supply
chain management, including RFID technology.
Topic: Logistics
Question 13
3 out of 3 points
Real-time information about product movement on store shelves could
benefit from the use of:
Selected Answer:
radio frequency identification tags.
Response
RFID facilitates real-time data gathering.
Feedback:
MC Qu. 85 Real-time information about product
movement... AACSB: Technology
Accessibility: Keyboard
Navigation
Blooms: Remember
Difficulty: 2 Medium
Learning Objective: 15-12 Discuss the logistics aspects of supply
chain management, including RFID technology.
Topic: Logistics
Question 14
3 out of 3 points
One of the biggest ethical risks in supply chain management is that the
supply chain member tends to be the one that suffers the blame and/or
lost goodwill when something goes wrong.
Selected Answer:
most visible
Response Consumers tend to blame the major company or brand in the
supply
Feedback: chain associated with the ethical infractions.
MC Qu. 51 One of the biggest ethical risks in supply...
AACSB: Ethics
Accessibility: Keyboard
Navigation
Blooms: Understand
Difficulty: 2 Medium
Learning Objective: 15-07 Briefly describe ethical issues in
supply chains
and the key steps companies can take to avoid
ethical problems.
Topic: Ethics and the Supply Chain
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Question 15
3 out of 3 points
RFID chips:
(I)
are used to track goods in distribution.
(II)
are used to track job progress in production.
(III)
are used to provide special instructions to operators.
(IV)
can be used in inventory record keeping.
Selected Answer:
I, II, and IV
Response
RFID chips do not contain special instructions.
Feedback:
MC Qu. 58 RFID chips:
AACSB: Technology
Accessibility: Keyboard
Navigation
Blooms: Remember
Difficulty: 2 Medium
Learning Objective: 15-12 Discuss the logistics aspects of supply
chain management, including RFID technology.
Topic: Logistics
Question 16
3 out of 3 points
Which of the following is not an example of a high-volume system?
Selected Answer:
aircraft manufacturing
Response Aircraft manufacturing is an example of low-volume
production.
Feedback:
MC Qu. 39 Which of the following is not an
example of...
AACSB: Reflective Thinking
Accessibility: Keyboard Navigation
Blooms: Remember
Difficulty: 2 Medium
Learning Objective: 16-03 Describe scheduling needs in
high-
volume systems.
Topic: Scheduling Operations
Question 17
3 out of 3 points
The following table contains information about five jobs waiting to be
processed at work center number three.
Processing Time
Job (hrs) Hours Until Due
a 14 15
b 10 20
c 18 18
d 2 16
e 4 21
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Using the EDD rule, the sequence of jobs would be:
Selected Answer: a-d-c-b-e.
Response correct
Feedback:
MC Qu. 69 The following table contains information
about... AACSB: Analytical Thinking
Blooms: Apply
Difficulty: 2 Medium
Learning Objective: 16-08 Give examples of commonly
used
priority rules.
Topic: Scheduling in Low-Volume Systems
Question 18
0 out of 3 points
There are four resources and four jobs to be done. Assume there must be
one-to-one matching between jobs and resources. The time required for
each resource to do each job is as follows:
Job (Hours)
Resource A B C
D
1 5 8 7 7
2 4 9 5 9
3 6 9 8 7
4 7 6 6 9
After the row and column reductions, what is the minimum number of
lines needed to cover all of the zeroes?
Selected Answer: 4 lines
Response incorrect
Feedback:
MC Qu. 72 There are four resources and four jobs to
be... AACSB: Analytical Thinking
Blooms: Apply
Difficulty: 2
Medium
Learning Objective: 16-07 Use the assignment method
for
loading.
Topic: Scheduling in Low-Volume Systems
Question 19
3 out of 3 points
The priority rule which will sequence jobs in the order they are received is:
Selected Answer: FCFS.
Response
This is the same as first-in-first-out.
Feedback:
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MC Qu. 47 The priority rule which will sequence
jobs... AACSB: Reflective Thinking
Accessibility: Keyboard
Navigation
Blooms: Remember
Difficulty: 1 Easy
Learning Objective: 16-08 Give examples of commonly
used
priority rules.
Topic: Scheduling in Low-Volume Systems
Question 20
3 out of 3 points
A work center can be a:
(I)
machine.
(II)
group of machines.
(III)
department.
IV) a part used to produce a product.
rev: 01_13_2017_QC_CS-72275, 01_16_2017_QC_CS-72275
Selected Answer:
I, II, and III only
Response correct
Feedback:
MC Qu. 43 A work center can be a:
AACSB: Reflective Thinking
Accessibility: Keyboard
Navigation
Blooms: Understand
Difficulty: 1 Easy
Learning Objective: 16-08 Give examples of commonly
used
priority rules.
Topic: Scheduling in Low-Volume Systems
Question 21
3 out of 3 points
ROP models indicate to managers the time between orders.
Selected Answer: False
Response ROP models indicate when, with regard to on-hand inventory,
Feedback: orders should be placed.
TF Qu. 26 ROP models indicate to managers the time
between... AACSB: Reflective Thinking
Accessibility: Keyboard Navigation
Blooms: Remember
Difficulty: 3 Hard
Learning Objective: 13-11 Describe reorder point models
and solve typical problems.
Topic: Reorder Point Ordering
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Question 22
3 out of 3 points
The optimization of the supply chain uses a mathematical model to
determine the optimal number of business organizations to be included in
the chain.
Selected Answer: False
Response Optimizing a supply chain through mathematical models is
typically not
Feedback: feasible.
TF Qu. 23 The optimization of the supply chain uses a...
AACSB: Reflective Thinking
Accessibility: Keyboard
Navigation
Blooms: Remember
Difficulty: 2 Medium
Learning Objective: 15-14 Describe some of the challenges in
creating
an effective supply chain and some of the trade-offs
involved.
Topic: Creating an Effective Supply Chain
Question 23
3 out of 3 points
Returned goods are part of reverse logistics.
Selected Answer: True
Response
Reverse logistics involves managing the flow of goods back up
the
Feedback: supply chain.
TF Qu. 30 Returned goods are part of reverse...
AACSB: Reflective Thinking
Accessibility: Keyboard Navigation
Blooms: Remember
Difficulty: 2 Medium
Learning Objective: 15-13 Discuss the issues involved in
managing
returns.
Topic: Creating an Effective Supply Chain
Question 24
3 out of 3 points
Sequencing is concerned with the order in which jobs are done, while
loading is concerned with assigning jobs to work centers or workstations.
Selected Answer: True
Response Sequencing concerns order, loading concerns assignment.
Feedback:
TF Qu. 20 Sequencing is concerned with the order in
which... AACSB: Reflective Thinking
Accessibility: Keyboard
Navigation
Blooms: Remember
Difficulty: 1 Easy
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Learning Objective: 16-05 Describe scheduling needs in
job
shops.
Topic: Scheduling in Low-Volume Systems
Question 25
3 out of 3 points
The assignment model seeks an optimum matching of tasks and resources.
Selected Answer: True
Response Matching jobs with resources can be done with the
assignment
Feedback: model.
TF Qu. 19 The assignment model seeks an optimum
matching... AACSB: Reflective Thinking
Accessibility: Keyboard Navigation
Blooms: Remember
Difficulty: 1 Easy
Learning Objective: 16-07 Use the assignment method for
loading.
Topic: Scheduling in Low-Volume Systems
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