Questions and Answers of Operations Management 6th

Explain the need to manage the supply chain.
Here is a procedure that will help you solve most of the end-of-chapter problems in this book and on exams:1. Identify the question to be answered. This is critical.2. Summarize the information given
Companies often use this formula to determine how much of a certain item to order:where Q = order quantity D = annual demand S = ordering cost H = annual holding cost per unit If annual demand
List several ways that business organizations compete.
Name several reasons that business organizations fail.
Define the terms mission and strategy and explain why they are important.
Discuss and compare organization strategy and operations strategy and explain why it is important to link the two.
Describe and give examples of time-based strategies.
Define the term productivity and explain why it is important to organizations and to countries.
Describe several factors that affect productivity.
A company that processes fruits and vegetables is able to produce 400 cases of canned peaches in one-half hour with four workers. What is labor productivity?
A wrapping-paper company produced 2,000 rolls of paper in one day. Labor cost was $160, material cost was $50, and overhead was $320. Determine the multifactor productivity.
Compute the multifactor productivity measure for an eight-hour day in which the usable output was 300 units, produced by three workers who used 600 pounds of materials. Workers have an hourly wage of
Girlfriend Collective wants customers to love its products and wear them with pride. Designing for an audience that cares about where clothes come from, as well as how they look and fit, the founders
List features common to all forecasts.
List the elements of a good forecast.
Outline the steps in the forecasting process.
Describe four qualitative forecasting techniques.
Use a naive method to make a forecast.
Prepare a moving average forecast.
Prepare a weighted-average forecast.
Prepare an exponential smoothing forecast.
Prepare a linear trend forecast.
Prepare a trend-adjusted exponential smoothing forecast.
Compute and use seasonal relatives.
Compute and use regression and correlation coefficients.
Summarize forecast errors and use summaries to make decisions.
Construct control charts and use them to monitor forecast errors.
Describe the key factors and trade-offs to consider when choosing a forecasting technique.
Forecasts based on averages. Given the following data:Prepare a forecast for period 6 using each of these approaches:a. The appropriate naive approach.b. A three-period moving average.c. A weighted
Using seasonal relatives. Apple’s Citrus Fruit Farm ships boxed fruit to anywhere in the world. Using the following information, a manager wants to forecast shipments for the first four months of
Linear trend line. Plot the data on a graph, and verify visually that a linear trend line is appropriate. Develop a linear trend equation for the following data. Then, use the equation to predict the
Obtain estimates of quarter relatives for these data using the centered moving average method: 1 Quarter: 1 2 3 Demand: 14 18 35 4 46 1 28 2 36 2 YEAR 3 60 4 71 1 2 45 54 3 3 84 4 88 4 58
A large Midwestern retailer has developed a graph that summarizes the effect of advertising expenditures on sales volume. Using the graph, determine an equation of the form y = a + bx that describes
The owner of a small hardware store has noted a sales pattern for window locks that seems to parallel the number of break-ins reported each week in the newspaper. The data are: Sales: Break-ins: 46 9
The manager of a large manufacturer of industrial pumps must choose between two alternative forecasting techniques. Both techniques have been used to prepare forecasts for a sixmonth period. Using
Given the demand data that follow, prepare a naive forecast for periods 2 through 10. Then, determine each forecast error, and use those values to obtain 2s control limits. If demand in the next two
Give an example of how trade increases people’s standard of living.
Why do national governments often build or subsidize transportation infrastructure?Provide an example.
How and why did the early development of the airline industry in the United States differ from that in Europe?
Early European airlines carried passengers. Why weren’t passengers carried on the first U.S. commercial flights?
What was the greater objective in federal subsidization of the airlines?
What was the Spoils Conference, and was it an appropriate use of government power?
What two, sometimes conflicting, goals were established by Congress for the Civil Aeronautics Board (CAB)?
What regulated industry was the CAB patterned from?
Why did Congress not trust the free market to discipline the U.S. airline industry?
What did the CAB regulate? Why?
Did the CAB allow airlines to compete on price?
Airline fares have declined in real terms since the introduction of the Douglas DC-3 throughout the regulated era. What has enabled this decline?
What are the three factors used to compute the Productivity Index? What is the relationship between productivity and standard of living?
Describe the differences among trunk, local service, flag (international), and supplemental carriers in the post-World War II period.
How were supplemental carriers and Capital Airlines responsible for early price (fare) competition?
How did the introduction of wide-body aircraft (B-747, DC-10, L-1011) in the early 1970s contribute to industry losses?
What factors led to airline losses in the early to mid-1970s? How did these losses contribute to the move toward deregulation?
What was the result of American Airlines’ SuperSaver fares in terms of the number of passengers carried? What solution to airline overcapacity does this result suggest? How does this reflect on the
What were the arguments for and against deregulation? What other industries have been deregulated?
A decade after the passage of the Airline Deregulation Act, what were the major results of deregulation? Which arguments for and against deregulation proved true?
What is the relationship between the post-deregulation development of hub and-spoke route systems and airline mergers and acquisitions that occurred in the same period?
How might membership in an airline frequent flier program influence a businessman to book an airline flight that is not in the best interests of his employer? How might a travel agency commission
Explain how a major hub-and-spoke carrier might drive a small new entrant carrier from its new route to the major carrier’s hub city (for example, Frontier Airlines begins service from Los Angeles
Compare the processes for economic airline deregulation in the United States, the European Union, and China.
Are the results of deregulation similar across the world?
Judging from the results of airline deregulation as an example, what are the costs and benefits of free markets?
Why is air transport important for economic growth?
Provide some measures of aviation industry size and a comparison with other major industries.
What factors drive long-term global and regional air travel demand and supply?
What is liberalization, and how does it affect air travel? Provide an example.
Which world regions are forecast for the fastest air travel growth? Why are these regions expected to grow more rapidly than others?
How does historical air cargo growth compare with that of passenger air travel?
What macroeconomic indicator is closely correlated with air travel growth?Why?
How does air travel demand vary by time of day, day of the week, season, and economic cycle?
If an airline planner could perfectly forecast future demand, would a problem in matching capacity with demand remain? Why?
What does the demand curve show?
What segment of the aviation industry is most concerned with macro-forecasts?Micro-forecasts? Why?
What does the S-curve show?
Compare the wants and needs of the typical business passenger with those of leisure passengers.
Explain the difference between a movement along the demand curve and a shift in demand. Provide an example of each.
What segment of the demand curve is targeted by the low-cost carriers such as Ryanair?
Given the complexity and uncertainty in forecasting demand, why do airlines bother?
If you are tasked with evaluating a potential new route for your airline, how do you begin?
What factors should be considered in estimating the market share a new entrant airline on a route with existing service can garner?
What are the three types of route structure? Define or illustrate each.
What are the advantages and disadvantages of a point-to-point route system?
Southwest provides the best example of a linear route system. What are the advantages and disadvantages of this system?
What are the advantages and disadvantages of the H&S system?
How do aircraft routings and passenger connections differ in a directional versus an omni-directional hub? Why are directional hubs less expensive to operate?
What is a “rolling hub” and what savings does it provide in comparison with a traditional H&S operation?
What is the difference between a rolling hub and a directional hub?
Why does point-to-point service cost less to operate than connecting service through a hub?
What are the requirements for a successful hub city?
Why are H&S systems essential for air travel to most U.S. cities that now have airline service?
Why do all large H&S carriers have several different aircraft types (particularly different capacities) in their fleets?
Air fares between a major hub city and a spoke city are often higher than for another city-pair of comparable distance and city sizes. Why?
How can airlines that do not operate any of the same routes be competitors?
What is the “Marketing Concept” and why do marketers consider it essential in a competitive economy?
List some things (product attributes) airline passengers want from their flight.
Why can’t an airline offer a passenger everything she wants?
Define Porter’s three strategies. Provide an airline example of each.
What are the typical characteristics of a low-cost carrier product such as Ryanair’s?
How has Southwest traditionally kept its costs low?

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