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9-12-18

Because the preparation of annual reports is done on a repeating basis, project management techniques are not appropriate
FALSE
Project management objectives revolved around on-time and budget performance.
TRUE
A statement of work would be developed in the “Organize” step of the project life cycle
FALSE
Project managers need to be specialists, not generalists
FALSE
In most organizations, projects cut across organizational boundaries, making it difficult to implement projects exclusively within functional departments.
TRUE
In a matrix organization, functional managers may be reluctant to provide the resources and employees, and the employees assigned to projects may relegate a project to a lower priority than their daily functional job
TRUE
Strong leadership is an impediment to project management success because of the team-based nature of most projects
FALSE
Immediate predecessors are activities that must be completed immediately before an activity may start.
TRUE
With the Activity-On-Node (AON) network, the nodes define the precedence relationships and the arcs define the work activities.
FALSE
Activity times must be estimated from historical data of similar work tasks to provide realism for a project.
FALSE
The critical path is the sequence of activities that takes the longest time
TRUE
To compute the critical path, we assign all nodes in the network an earliest starting time of zero.
FALSE
The early start time for an activity is computed by finding the largest early finish time of all immediate predecessors.
TRUE
All activities on the critical path have a zero slack time
TRUE
A Gantt chart is a useful tool for allocating limited resources among project activities
FALSE
A slack of (2) means the project is ahead of schedule by two time periods
FALSE
Crashing refers to the process of shortening selected activity times in order to reduce the overall project completion time.
TRUE
The Critical Path Method (CPM) allows for an evaluation of uncertainty in project completion times.
FALSE
Using a beta probability distribution to characterize uncertain activity times is practical because it allows managers to use judgmental estimates to identify the distribution.
TRUE
When the beta probability distribution is used to characterize uncertain activity times, the distribution of the project completion time will also have a beta probability distribution.
FALSE
When finding the earliest finish (EF) time for an activity with two or more predecessor activities, the largest EF among the predecessor activities is used to calculate the EF for that activity.
TRUE
The slack for an activity is equal to its latest finish time minus its earliest start time.
FALSE
We should not crash activities on the critical path
FALSE
A supply chain is broader in scope than the value chain, and encompasses all pre- and post-production activity
FALSE
Supply chains often must be redesigned when a firm’s product lines and markets change or expand.
TRUE
The basic purpose of a supply chain is to coordinate communication among employees and customers in order to maximize customer satisfaction.
FALSE
Distribution centers are warehouses that act as intermediaries between suppliers and factories.
FALSE
Orders are passed upstream in a supply chain, while materials and finished goods are sent downstream in a supply chain.
TRUE
In the Supply Chain Operations Reference (SCOR) model, the “Make” step involves managing orders, transportation, and distribution to provide goods and services.
FALSE
In the Supply Chain Operations Reference (SCOR) model, the “Plan” step involves identifying and selecting suppliers.
FALSE
Contract manufacturers can provide the benefit of lower total costs resulting from economies of scale
TRUE
In designing an efficient supply chain, an organization would need high levels of inventory stored in many small distribution centers.
FALSE
Wal-Mart uses a push supply chain.
FALSE
A supply chain must be either a push or a pull system.
FALSE
Accurate forecasts are more critical to a pull system.
FALSE
For Dell Inc., the push-pull boundary is very early in the supply chain, where suppliers store inventory for frequent deliveries.
TRUE
An automobile company that installs satellite radio at the dealership instead of at the factory is applying a postponement strategy.
TRUE
If a multisite organization has a stable customer benefit package and many identical and standardized facilities, then a responsive supply chain is the best design.
FALSE
The bullwhip effect results from order amplification in the supply chain.
TRUE
The bullwhip effect could be reduced if all members of the supply chain would use demand data from the point of the supply chain closest to the customer.
TRUE
Large order sizes and frequent price changes will reduce the bullwhip effect in a supply chain.
FALSE
The facility location decision must attempt to minimize the combined cost of producing the good or service and delivering them to customers.
TRUE
A great servicescape and facility layout can usually overcome a poor location decision.
FALSE
Both economic and noneconomic factors should play an important role in location decisions in supply and value chains.
TRUE
The center-of-gravity method determines the best X and Y coordinates (location) for multiple facilities by finding a central location and then assigning the facilities around the periphery of that location.
FALSE
The center-of-gravity model minimizes the weighted distance between the facility to be located and its supply and demand points.
TRUE
Water transportation is vital to the efficiency of most consumer-goods supply chains.
FALSE
With vendor-managed inventory, a manufacturer monitors and managers inventory for a customer.
TRUE
1. Which one of the following statements is false?

a. Historically, General Motors used to push system to get vehicles to their dealers.
b. Wal-Mart is a good example of a highly efficient supply chain.
c. Sony is a good example of a global contract manufacturer.
d. Postponement is the process of delaying product customization until the product is closer to the customer at the end of the supply chain.

C
Which one of the following statements is false?

a. Boeing’s new 787 Dreamliner airplane has encountered many startup and supply chain coordination problems.
b. At Dell, Inc. customer financing of purchases is a post-production service in their value chain.
c. At Dell, Inc. installation, warranty, and field repair services are normally done on a prepaid contract basis with customers.
d. Federal Express has over one million pickup and delivery sites and therefore, is a good example of multisite management.

B
Which of the following is not a basic function of the Supply Chain Operations Reference (SCOR) model?

a. source
b. make
c. deliver
d. control

D
Which one of the following statements is true about vendor-managed inventory (VMI)?

a. VMI is a form of outsourcing.
b. VMI often increases the bullwhip effect.
c. VMI is used only in responsive supply chains.
d. VMI is identical to contract manufacturing.

A
The point in the supply chain that separates the push system from the pull system is called the

a. Reversal point
b. Push-pull boundary
c. Postponement site
d. Center of gravity

B
Which one of the following is not directly related to a supply chain?

a. Distribution center
b. Inventory
c. Promotion/Advertising
d. Supplier

C
Managing the flow of goods and materials from the customer backward through the supply chain is called

a. Reverse Logistics
b. The Pull System
c. The Push System
d. Response Management

A
The Supply Chain Operations Reference (SCOR) Model function that entails all order management activities from processing customer orders to routing shipments, managing goods at distribution centers and invoicing the customer is called ____.

a. Return
b. Source
c. Make
d. Deliver

D
The Supply Chain Operations Reference (SCOR) Model function that entails procuring goods and services to meet planned or actual demand is called ____.

a. Plan
b. Source
c. Make
d. Deliver

B
Where in its supply chain does Dell, Inc. begin to use a pull system?

a. supplier
b. factory
c. distribution center
d. customer

A
A firm that specializes in certain types of goods-producing activities, such as customized design, manufacturing, assembly, and packaging, and works for end users is called a ____.

a. Responsive supply chain
b. Contract manufacturer
c. Distribution center
d. Vendor-managed inventory supplier

B
A(n) ____ produces goods in advance of customer demand using a forecast of sales and moves them to points of sale where they are stored as finished goods inventory.

a. Responsive supply chain
b. Efficient supply chain
c. Push system
d. Pull system

C
A(n) ____ produces only what is needed at upstream stages in the supply chain in response to customer demand signals.

a. Responsive supply chain
b. Efficient supply chain
c. Push system
d. Pull system

D
A(n) ____ seeks to balance capacity and demand, might use only a few large distribution centers, and minimize costs of routing products from factories to retail stores and customers.

a. Responsive supply chain
b. Efficient supply chain
c. Push system
d. Pull system

B
Which is true regarding a responsive supply chain?

a. Demand is stable and predictable.
b. Product life cycles are short and change often because of innovation.
c. Customers require standardization.
d. Contribution margins are low.

B
A push system

a. can adjust easily to poor forecasts
b. is more appropriate for make-to-order items
c. can reduce transportation costs by using full-truckload shipments
d. works best with variable sales patterns

C
A pull system

a. requires high levels of finished goods inventory
b. relies heavily on accurate sales forecasts
c. waits for customer orders
d. necessitates standardized products

C
For General Motors’ supply chain, the ____ is the push-pull boundary.

a. Supplier
b. Factory
c. Dealer
d. Custom

C
____ is the process of delaying product customization until the product is closer to the customer at the end of a supply chain.

a. Postponement
b. Sourcing
c. Deferral
d. Multisite management

A
A contract manufacturer can offer significant competitive advantages. Which one of the following is not an advantage of using a contract manufacturer?

a. Access to advanced manufacturing technologies
b. Faster product time-to-market
c. Lower costs from economies of scale
d. Standardized design

D
The metric “perfect order fulfillment” is often used to measure ____.

a. Delivery reliability
b. Responsiveness
c. Supply chain efficiency
d. Supply chain financial performance

A
Which of the following is true regarding order amplification?

a. The fluctuation of orders is larger than the fluctuation in sales.
b. The amplitude of order quantity over time is smaller than the variation of sales.
c. The less the uncertainty, the greater the amplification in orders.
d. The amplification is greatest near the customer.

A
All of the following are considered non-economic factors in location decisions except

a. Availability of labor
b. Employee empowerment
c. Transportation services
d. Quality of life

B
Factors such as managers’ preferences, services and taxes, available transportation systems, banking services and environmental impacts would be most closely related to which level of the facility location hierarchy?

a. Global (National) location
b. Regional location
c. District or community location
d. Local site selection

C
The center-of-gravity method takes all the following into account except

a. Location of facilities and markets
b. Demand
c. Transportation costs
d. Service objectives

D
The weights typically used in the center-of-gravity method are

a. Transportation costs
b. Distances
c. Volumes of goods
d. Times

C
An airline seat is an example of an asset held for future use or sale
TRUE
Safety stock inventory is an additional amount of inventory kept over and above the average amount required to meet demand during the lead time
TRUE
Airline seats and call center phone lines are examples of inventory in service organizations
TRUE
Maintaining large stocks of inventory is a requirement in today’s supply chains in order to improve profitability
FALSE
Marketing and operations generally prefer high inventory levels while finance would prefer small inventories
TRUE
Work in process inventory is completed products ready for distribution or sale to customers
FALSE
Safety stock inventory is an additional amount of inventory kept over and above the average amount required to meet demand
TRUE
Setup costs depend on the number of items manufactured
FALSE
Inventory holding costs can be accurately measured by accounting departments
FALSE
Costs associated with maintaining storage facilities such as gas and electricity, taxes, and insurance are associated with fixed ordering costs
FALSE
Larger orders result in higher total holding cost but lower total ordering cost
TRUE
Overnight shipping for emergency orders and compensation for overbooking at a hotel are examples of ordering costs
FALSE
A stock-keeping unit is the same no matter at which location the item is found.
FALSE
RFID tags are often used to track stock keeping units in supply chains
TRUE
Dependent demand, unlike independent demand, needs to be forecasted
FALSE
An example of stochastic demand might be: “The daily demand for milk is normally distributed with a mean of 150 gallons and a standard deviation of 15 gallons
TRUE
Stochastic demand inventory models are easier to analyze and solve than deterministic models
FALSE
Airline flights to ski areas near Denver, Colorado, probably have different means and variances throughout the year. This is an example of dynamic demand
TRUE
Lead time is the time it takes to prepare an order for shipping to a customer
FALSE
When a customer is unwilling to wait for an item that is not in stock and purchases the item elsewhere, a backorder has occurred
FALSE
“C” items are the critical few that must be closely managed in an inventory system
FALSE
“A” items typically comprise a high percentage of total dollar usage but a low percentage of unit volume
TRUE
Inventory position refers to the physical quantity of items on hand in an inventory system
FALSE
Because the fixed quantity system orders the same amount each time, time between orders will be constant, even with variable demand
FALSE
In a fixed quantity inventory system with certain demand, the reorder point is chosen to be the average demand during the lead time
TRUE
The Economic Order Quantity model (EOQ) allows for variable lead-time
FALSE
In general, total ordering costs are equal to total inventory holding cost for the optimal solution to the EOQ model
TRUE
Because of demanding customers, organizations must always maintain a 100% service level
FALSE
In the fixed-period system, managers must make two key decisions: the time interval between reviews, and the replenishment level.
TRUE
In a single-period inventory situation, the only inventory decision is when to trigger an order
FALSE
The decision of how many fruit baskets to make for the holiday season would be analyzed using a single-period inventory model
TRUE
Many practical inventory situations include backorders and quantity discounts
TRUE
1. In ABC inventory analysis, which of the following is true for “C” items?

a. Tighter control of “C” items (than for “A” or “B” items) is appropriate.
b. “C” items are critical items that must be monitored with a fixed period system.
c. “C” items make up a lower percentage of total inventory value ($) than either “A” or “B” items.
d. “C” items make up 10-20 percent of inventory items.

C
Inventory that represents partially completed products waiting further processing is called ____ inventory.

a. Raw materials
b. Work-in-process
c. Cycle
d. Safety stock

B
Additional inventory kept over and above the average amount required to meet demand is called ____ inventory.

a. Seasonal
b. Work-in-process
c. Finished goods
d. Safety stock

D
Inventory that acts as a buffer between workstations in flow shops or departments in job shops is called ____ inventory.

a. Raw materials
b. Work-in-process
c. Cycle stock
d. Safety stock

B
Costs associated with inspecting, unpacking and putting into storage incoming inventory are components of ____ cost.

a. Ordering or setup
b. Holding
c. Shortage
d. Unit

A
Which of the following is not a component of holding cost?

a. Taxes
b. Insurance
c. Material handling
d. Order processing

D
Two fundamental inventory decisions are when to order and how much to order. Which of the following statement is true with respect to Fixed Quantity (FQS) and Fixed Period (FPS) inventory systems?

a. A FPS orders a fixed period quantity when the inventory position reaches or drops below the reorder point (r).
b. A FPS must cover a time period of T + L to cover the risk of a stock out.
c. A FPS places an order for the economic order quantity every T time units.
d. A FQS places an order to replenish the inventory position up to a target level (M) when the inventory position reaches the reorder point (r).

B
Independent demand

a. can be derived/calculated
b. is related to other SKUs
c. is also called finished goods inventory
d. needs to be forecasted

D
Demand that incorporates uncertainty is called ____.

a. Static
b. Dynamic
c. Stochastic
d. Deterministic

C
Demand that varies over time is called ____.

a. Static
b. Dynamic
c. Stochastic
d. Deterministic

B
Demand that is stable over time is called ____.

a. Static
b. Dynamic
c. Stochastic
d. Deterministic

A
Which of the following is incorrect regarding inventory management?

a. The two fundamental inventory decisions are when to order and what to order
b. Inventory management applies to goods and to services
c. Different types of inventory characteristics require different approaches for control
d. SKUs are often aggregated or partitioned into groups with similar characteristics or dollar value

A
Backorders ____.

a. Result from lost sales
b. Have little financial impact
c. May occur as a result of a stockout
d. Force a customer to purchase elsewhere

C
Using ABC analysis, continuous monitoring and accurate record keeping relates best to ____ items.

a. A
b. B
c. C
d. B and C

A
“The inability to satisfy the demand for an item” is the definition of a

a. reorder point
b. stockout
c. lost sale
d. backorder

B
Inventory position is computed using all the following except

a. On-hand
b. Scheduled receipts
c. Backorders
d. Lead time demand

D
Using a fixed quantity system (FQS), as the reorder point increases

a. safety stock increases
b. safety stock decreases
c. the number of orders increases
d. the number of orders decreases

A
Which of the following is not a key assumption underlining the classic economic order quantity (EOQ) model?

a. The entire order quantity arrives in the inventory at one time
b. There are only two types of relevant costs: order/setup and inventory-holding
c. Demand is assumed to be stochastic
d. Stockouts are not allowed

C
Average inventory in the EOQ model is defined as

a. The order quantity divided by the number of inventory cycles per year
b. Annual usage divided by the number of inventory cycles per year
c. One-half the order quantity
d. One-half the annual usage

C
Which one of the following statements concerning the economic order quantity (EOQ) model is not true when the unit holding cost increases?

a. the economic order quantity will decrease
b. the number of orders per year will decrease
c. total ordering cost will increase
d. average inventory will decrease

C
For the single-period inventory model, solving for the optimal order quantity involves using

a. marginal economic analysis
b. total cost analysis
c. ABC analysis
d. reorder point analysis

A
A supply chain is broader in scope than the value chain, and encompasses all pre- and post-production activity
FALSE
Supply chains often must be redesigned when a firm’s product lines and markets change or expand.
TRUE
The basic purpose of a supply chain is to coordinate communication among employees and customers in order to maximize customer satisfaction.
FALSE
Distribution centers are warehouses that act as intermediaries between suppliers and factories.
FALSE
Orders are passed upstream in a supply chain, while materials and finished goods are sent downstream in a supply chain.
TRUE
In the Supply Chain Operations Reference (SCOR) model, the “Make” step involves managing orders, transportation, and distribution to provide goods and services.
FALSE
In the Supply Chain Operations Reference (SCOR) model, the “Plan” step involves identifying and selecting suppliers.
FALSE
Contract manufacturers can provide the benefit of lower total costs resulting from economies of scale
TRUE
In designing an efficient supply chain, an organization would need high levels of inventory stored in many small distribution centers.
FALSE
Wal-Mart uses a push supply chain.
FALSE
A supply chain must be either a push or a pull system.
FALSE
Accurate forecasts are more critical to a pull system.
FALSE
For Dell Inc., the push-pull boundary is very early in the supply chain, where suppliers store inventory for frequent deliveries.
TRUE
An automobile company that installs satellite radio at the dealership instead of at the factory is applying a postponement strategy.
TRUE
If a multisite organization has a stable customer benefit package and many identical and standardized facilities, then a responsive supply chain is the best design.
FALSE
The bullwhip effect results from order amplification in the supply chain.
TRUE
The bullwhip effect could be reduced if all members of the supply chain would use demand data from the point of the supply chain closest to the customer.
TRUE
Large order sizes and frequent price changes will reduce the bullwhip effect in a supply chain.
FALSE
The facility location decision must attempt to minimize the combined cost of producing the good or service and delivering them to customers.
TRUE
A great servicescape and facility layout can usually overcome a poor location decision.
FALSE
Both economic and noneconomic factors should play an important role in location decisions in supply and value chains.
TRUE
The center-of-gravity method determines the best X and Y coordinates (location) for multiple facilities by finding a central location and then assigning the facilities around the periphery of that location.
FALSE
The center-of-gravity model minimizes the weighted distance between the facility to be located and its supply and demand points.
TRUE
Water transportation is vital to the efficiency of most consumer-goods supply chains.
FALSE
With vendor-managed inventory, a manufacturer monitors and managers inventory for a customer.
TRUE

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