QUESTION 3

This Japanese technique used in Lean Operations involves walking through "the real place" where work is done to learn or review exactly how a specific process works and gain insights from workers about its improvement.

a. Kanban b. Muda Audit c. 5S Walk d. Gemba Walk e. Jidoka

QUESTION 38

Effective inventory decisions depend on having;

	a.	Good inventory records
	b.	Good cost information
	c.	Good estimates of demand
	d.	All of the above
	e.	None of the above

QUESTION 39

ROP, reorder point, models involve what considerations?

	a.	Service level and safety stock
	b.	Quantity on hand and quantity on order
	c.	Standard deviation of demand and six sigma
	d.	Inventory requirements and demand lead times
	e.	None of the above

QUESTION 40

In Operations Management and the potential for variation reduction, what are two key factors that impact inventory management?

	a.	Lead time variations and forecast errors
	b.	Normal distribution and Poisson distribution
	c.	Supply and demand of excess and obsolete inventory
	d.	Reorder point and economic order quantity
	e.	Management philosophy and supplier performance