1) Operations management is the set of activities that creates value in the form of goods and...

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Question:

1) Operations management is the set of activities that creates value in the form of goods and services by transforming inputs into outputs.
A) True
B) False

2) Which of the following are the primary functions of all organizations? A) production/operations, marketing, and human resources
B) marketing, human resources, and finance/accounting
C) sales, quality control, and production/operations

D) marketing, production/operations, and finance/accounting
E) research and development, finance/accounting, and purchasing

3) What is a global network of organizations and activities that supply a firm with goods and services?
A) supply tree
B) provider network

C) supply chain D) vendor network E) vendor tree

4) What are the five elements in the management process?
A) plan, direct, update, lead, and supervise
B) accounting, finance, marketing, operations, and management C) organize, plan, control, staff, and manage
D) plan, organize, staff, lead, and control
E) plan, lead, organize, manage, and control

5) An operations manager is NOT likely to be involved in:
A) the design of goods and services to satisfy customers' wants and needs. B) the quality of goods and services to satisfy customers' wants and needs. C) the identification of customers' wants and needs.
D) work scheduling to meet the due dates promised to customers.
E) maintenance schedules.

6) Which of the following is one of the 10 strategic operations management decisions? A) depreciation policy for tax returns
B) advertising
C) process and capacity design

D) pricing
E) debt/equity ratio

7) Which of the following is the best example of a pure service? A) counseling
B) oil change
C) heart transplant

D) electric Co-Op E) restaurant

8) Productivity is generally more difficult to improve in the service sector than in the manufacturing sector.
A) True
B) False

9) Productivity is the total value of all inputs to the transformation process divided by the total value of the outputs produced.
A) True
B) False

10) Productivity can be improved by:
A) increasing inputs while holding outputs steady.
B) decreasing outputs while holding inputs steady.
C) increasing inputs and outputs in the same proportion. D) decreasing inputs while holding outputs steady.
E) none of the above.

11) Which of the following represents a reason for globalizing operations? A) to improve the supply chain
B) to improve operations
C) to expand a product's life cycle

D) to attract and retain global talent E) all of the above

12) The fundamental purpose of an organization's mission statement is to: A) create a good human relations climate in the organization.
B) define the organization's purpose in society.
C) define the operational structure of the organization.

D) generate good public relations for the organization.
E) define the functional areas required by the organization.

13) Which of the following statements is true?
A) Corporate mission is shaped by functional strategies.
B) Corporate strategy is shaped by functional strategies.
C) Functional strategies are shaped by corporate strategy.
D) External conditions are shaped by corporate mission.
E) Functional area missions are merged to become the organizational mission.

14) A strategy is a(n):
A) set of opportunities in the marketplace.
B) broad statement of purpose.
C) simulation used to test various product line options. D) plan for cost reduction.
E) action plan to achieve the mission.

15) The ability of an organization to produce goods or services that have some uniqueness in their characteristics is:
A) mass production.
B) time-based competition.

C) competing on productivity. D) competing on quality.
E) competing on differentiation.

16) Experience differentiation:
A) isolates the consumer from the delivery of a service.
B) is an extension of product differentiation in the service sector.
C) uses only the consumer's senses of vision and sound.
D) keeps consumers from becoming active participants in the service.
E) attempts to make the service experience different for every single customer.

17) Which of the following is NOT part of value-chain analysis? A) product research
B) quality management
C) supply chain management

D) project management E) human resources

18) What is the practice of transferring a firm's activities that have traditionally been internal to external suppliers?
A) nearshoring
B) farshoring

C) offshoring D) outsourcing E) backsourcing

19) Outsourcing is simply an extension of the long-standing practice of: A) subcontracting.
B) importing.
C) exporting.

D) postponement. E) e-procurement.

20) Which of the following is not an advantage of outsourcing? A) cost savings
B) gaining outside expertise
C) improving operations and service

D) outsourcing core competencies E) accessing outside technology

21) The phases of project management are:
A) planning, scheduling, and controlling.
B) planning, programming, and budgeting.
C) planning, organizing, staffing, leading, and controlling.
D) different for manufacturing projects than for service projects. E) GANTT, CPM, and PERT.

22) Which of the following is NOT one of the phases of project management? A) planning
B) scheduling
C) controlling

D) budgeting
E) All of the above are project management phases.

23) WBS stands for which of the following project management tools? A) work break schedule
B) work breakdown status
C) work breakdown schedule

D) work breakdown structure E) work break status

24) Which of the following statements regarding Gantt charts is true?
A) Gantt charts give a timeline and precedence relationships for each activity of a project. B) Gantt charts use the four standard spines of Methods, Materials, Manpower, and Machinery.
C) Gantt charts are visual devices that show the duration of activities in a project.
D) Gantt charts are expensive.
E) All of the above are true.

25) The shortest of all paths through the network is the critical path. A) True
B) False

26) The main difference between PERT and CPM is that: A) PERT is more accurate than CPM.
B) PERT assumes that activity durations are known.
C) PERT ignores activity costs.

D) CPM assumes activity durations can vary.
E) PERT employs three time estimates for each activity.

27) The ES of an activity that has only one predecessor is simply the EF of that predecessor.
A) True
B) False

28) Slack is the amount of time an activity can be delayed without delaying the entire project.
A) True
B) False

29) The critical path for the network activities shown below is ________ with duration ________.

Activity	Duration	Immediate Predecessors
A	4	---
B	2	A
C	7	--
D	4	A
E	5	B,C,D

A) A-B-D; 10
B) A-B-E; 11
C) C-E; 12
D) A-D-E; 13
E) A-B-C-D-E; 22

30) An activity on a PERT network has these time estimates: optimistic = 2, most likely = 3, and pessimistic = 8. What is its expected activity time and variance?
A) 3.67; 1
B) 3.67; 6

C) 4.33; 1
D) 4.33; 6
E) none of the above

31) One use of short-range forecasts is to determine: A) planning for new products.
B) capital expenditures.
C) research and development plans.

D) facility location. E) job assignments.

32) A forecast with a time horizon of about 3 months to 3 years is typically called a: A) long-range forecast.
B) medium-range forecast.
C) short-range forecast.

D) weather forecast. E) strategic forecast.

33) Short-range forecasts tends to ________ longer-range forecasts. A) be less accurate than
B) be more accurate than
C) have about the same level of accuracy as

D) employ the same methodologies as
E) deal with more comprehensive issues than

34) A time-series model uses a series of past data points to make the forecast. A) True
B) False

35) The forecasting technique that pools the opinions of a group of experts or managers is known as:
A) the expert judgment model.
B) multiple regression.

C) jury of executive opinion. D) market survey.
E) management coefficients.

36) Time-series data may exhibit which of the following behaviors? A) trend
B) random variations
C) seasonality

D) cycles
E) They may exhibit all of the above.

37) What is the forecast for May using a four-month moving average?

A) 38 B) 42 C) 43 D) 44 E) 47

38) Which of the following smoothing constants would make an exponential smoothing forecast equivalent to a naive forecast?
A) 0
B) 1 divided by the number of periods

C) 0.5
D) 1.0
E) cannot be determined

39) Given an actual demand this period of 61, a forecast for this period of 58, and an alpha of 0.3, what would the forecast for the next period be using exponential smoothing? A) 45.5
B) 57.1
C) 58.9
D) 61.0
E) 65.5

40) If two variables were perfectly correlated, what would the coefficient of correlation r equal?
A) 0
B) -1

C) 1
D) B or C
E) none of the above