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Question 1.

1. The three basic production strategies for addressing the aggregate planning problem are the capacity production strategy, the level production strategy, and the chase production strategy. (Points : 1)

True

False

Question 2.

2. When designing a manufacturing or service process, or even during the reengineering of such a process, a Pareto chart would be an essential tool for evaluating the process in terms of its action elements, waiting periods, and process flow. (Points : 1)

True

False

Question 3.

3. Which of the following indices provided by the Institute for Supply Management (ISM) is considered the most important by economists because it is a composite of five weighted, seasonally adjusted indices? (Points : 1)

Purchasing Managers Index

Export Orders Index

Production and Inventory Index

New Orders Index

Question 4.

4. While the philosophy of Six Sigma means different things to different people and is practiced differently in different companies, according to the textbook, two of the more important and agreed-upon elements of Six Sigma are: (Points : 1)

Minimizing inventories and increasing material flow

Focusing on the customer and workforce involvement

Rewarding employees and keeping defect rates below 2%

Minimizing inventories and keeping defect rates below 1%

Question 5.

5. According to the textbook, which of the following is NOT a way to closely match supply and demand? (Points : 1)

Holding high amounts of inventory

Maintaining a rigid pricing system

Utilizing overtime

Hiring temporary workers

Question 6.

6. Which of the following is considered an advantage/benefit of utilizing an ERP system? (Points : 1)

Fairly inexpensive to purchase and implement

Enables the company to utilize a single centralized database system, thus eliminating duplicate data entry.

Flexible enough that it allows different companies with different business models to mold the new ERP system to fit the company's business model

All of these

Question 7.

7. Which of the following is NOT consistent with the lean philosophy? (Points : 1)

Cross-training employees to increase processing flexibility

Developing a culture of continuous improvement within the organization

Increasing batch size to take advantage of economies of scale

Positioning WIP inventories near each processing center

Question 8.

8. If a tracking signal is positive, which one of the following is true? (Points : 1)

Actual value is higher than forecast

Actual value is less than forecast

Actual value is equal to forecast

Unable to draw any conclusion

Question 9.

9. The total annual inventory cost is the sum of the annual purchase cost, the annual holding cost, the annual capacity cost, and the annual ordering cost. (Points : 1)

True

False

Question 10.

10. Some of the benefits of CPFR include strengthening partner relationships, providing an analysis of sales and order forecasts both upstream and downstream, and allowing collaboration on future requirements and planning. (Points : 1)

True

False