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ISDS 3115 Exam 1 Concepts

Which is NOT true regarding differences between goods and services
Goods tent to have higher customer interaction than services
Which of the following represent reasons for globalizing operations?
to improve operations, to attract and retain global talent, expand a product’s life cycle, to gain improvements in the supply chain…ALL OF THE ABOVE
Which statements best characterizes delivery reliability?
a company that always delivers at the promised time
Which of the following will more likely locate near their customers?
a medical clinic
The project organization works best when which of the following conditions are satisfied?
I. Work can be defined with a specific goal and deadline
III. The work contains interrelated tasks requiring special skills
V. The project cuts across organizational lines
In a PERT network, non-critical activities that have little slack need to be monitored closely
because near-critical paths could become critical paths with small delays in these activities
An activity on a PERT network has these time estimates: optimistic=2, most likely=3, and pessimistic=8. Its expected time and variance (if it is a critical activity) are:
3.67;1
Which of the following uses three types of participants: decision makers, staff personnel, and respondents?
the Delphi method
Which of the following techniques uses variables such as price and promotional expenditures, which are related to product demand, to predict demand?
associative models
If two variables were perfectly correlated, the correlation coefficient r would equal
-1 or 1
When should product strategy focus on forecasting capacity requirements
At the growth stage of the product life cycle
Quality function deployment
Is used to determine where to deploy quality efforts, determines what will satisfy the customer, translates customer desires into the target design, is used in the early design process…SO ALL OF THE ABOVE
The use of product development teams in design and engineering activities is also know as
concurrent engineering
Which service design technique would ordinarily NOT be appropriate for full-service restaurant meals?
reducing customer interaction
The phases of project management are:
planning scheduling and controlling
Activity R on a CPM network has predecessors M and N, and has successor S. R has duration 5. N’s late finish is 18, while M’s is 20. S’s late start is 14. Which of the following is definitely true?
the set of given times cannot all be possible
Which of the following statements about CPM is TRUE?
a. the critical path is the set of activities that has positive slack
b. all activities on the critical path have their LS equal to the maximum LS of all immediate predecessors
c. the critical path is the shortest of all paths through the network

d. ALL OF THE ABOVE ARE FALSE

Forecasts used for new product planning, capital expenditures, facility location or expansion, and R&D typically utilize a:
long-range time horizon
Increasing the number of periods in a moving average will accomplish greater smoothing, but at the expense of:
responsiveness to changes
A product’s life cycle is divided into 4 stages, which are:
introduction, growth, maturity, and decline
A graphic technique for defining the relationship between customer desires and product/service is:
the House of Quality
One result of concurrent engineering in product design is:
speedier product development
Which of the following is NOT one of the three phases of project management?
controlling, planning, scheduling…ALL OF THE ABOVE
The main difference between PERT and CPM is that:
CPM assumes activity durations can vary, PERT ignores activity costs, PERT is more accurate than CPM, PERT assumes that activity duration are known…NONE OF THE ABOVE ARE TRUE
Increasing the number or periods in a moving average will accomplish greater smoothing, but at the expense of:
responsiveness to changes
The primary purpose of the mean absolute deviation (MAD) in forecasting is to:
measure forecast accuracy
The change in cell-phone model life cycles from 2 years to under 6 months is a result of:
time-based competition
Which of the following statements concerning CPM activities is FALSE?
The Late Finish of an activity is the Earliest Start of all preceding activities
A project manager is interested in crashing a project with variable activity times. Which of the following tools should he/she employ?
PERT
One use of short-range forecasts is to determine:
Job assignments
Which of the following statements comparing the weighted moving average technique and exponential smoothing is true?
Exponential smoothing typically requires less record keeping of past data
Which of the following typically shows the components, their description, and the quality of each required to make one unit of a product?
a bill of material
the ten critical decisions of operations management include:
process and capacity design
According to the authors, which of the following strategic concepts allow firms to achieve their missions?
differentiation, cost leadership, and quick responses
Which of the following has progressed the furthest along its product life cycle?
drive-thru restaurants
Cost minimization is an appropriate strategy in which stage of the product life cycle?
decline
Which is NOT true regarding differences between goods and services?
goods tend to have higher customer interaction than services
Which of the following is NOT a typical service attribute?
easy to share
Which of the following is true about business strategies?
well defined missions make strategy development much easier
Value-chain analysis can be used to determine if a business is adding unique value in which of the following areas?
product research, quality management, human resources, process innovation…SO ALL OF THE ABOVE ARE TRUE
Which of the following is NOT one of the ten critical decisions of operations management?
determining the financial leverage position
Which of the following is the best example of a pure service?
counseling
Examples of response to the global environment include:
Ford’s partnerships with Volvo and Mazda, a Chinese manufacturer, Haier, opening planning in the US, Boeing’s worldwide sales and production, Benneton’s flexibility in design, production, and distribution…ALL OF THE ABOVE
Cost cutting in international operations can take place because of
lower indirect costs, lower taxes and tariffs, lower wages, less stringent restrictions…ALL OF THE ABOVE
Which of the following is the best example of competing on low-cost leadership?
a firm produces its product with less raw material waste than its competitors
Which of the following tasks within an Airline Company are related to operations?
crew scheduling
Which of these organizations is likely to have the most important inventory decisions?
an aluminum manufacturer
An operations task performed at the Hard Rock Café is:
preparing employee schedules
Which of the following is not an element of the management process?
pricing
New trends in operations management include:
rapid product development, global focus, empowered employees, mass customization…ALL OF THE ABOVE
The commonly used productivity variables are:
labor, capital, and management
NAFTA seeks to:
phase out all trade and tariff barriers between the US, Canada, and Mexico
The ability of an organization to produce goods and services that have some uniqueness in their characteristics is:
competing on differentiation
Given the position of the iPod in the growth stage of its cycle, which of the following OM strategy/issues should the makers of iPods be least concerned with at the current time?
cost cutting
When developing the operations strategy for a new manufacturing organization, one of the most important considerations is that it:
supports the overall competitive strategy of the company
Which of the following statements regarding project management is FALSE?
a project organization works well when the work contains simple, independent tasks
Which of the following statements regarding critical paths is true?
on a specific project, there can be multiple critical paths, all with exactly the same duration
Gradual movement in time-series data over time is called
a trend
Which is NOT a characteristic of exponential smoothing?
weights each historical value equally
Operations management must be able to anticipate changes in which of the following?
the products themselves, product volume, product opportunities, product mix…SO ALL OF THEM
Bridget’s Hamburger Stand uses only 7 ingredients but offers 15 different burgers. This process in known as
Modular design
Modern ATM machines are an automated example of a service design that:
reduces customer interaction
Operations management is applicable:
to all firms, whether manufacturing or service
Which of the following statements regarding CPM is true?
the critical path is the shortest of all the paths through the network, some networks have no critical path, all activities on the critical path have their LS equal to the maximum LS of all immediate predecessors, the critical path is that set of activities that has positive slack…ALL OF THE ABOVE ARE TRUE
The two general approaches to forecasting are:
qualitative and quantitative
The tracking signal is the:
ratio of cumulative error/MAD
In which stage of the product life cycle should product strategy focus on process modifications as the product is being “fine-tuned” for the market?
introduction
In which stage of the product life cycle should product strategy focus on improved cost control?
maturity
The ten critical decisions of OM include:
managing quality, maintenance, layout strategy, process and capacity design…ALL OF THE ABOVE
New trends in OM include:
empowered employees, mass customization, global focus, rapid product development…ALL OF THE ABOVE
The total of all outputs produced by the transformation process divided by the total of the inputs is:
multifactor productivity
Which of the following is true of maquiladoras?
they assess tariffs only on the value-added work done
Which of the following is LEAST likely to be a cost leadership competitive advantage?
broad product line
Which of the following OM strategy/issues should a firm with a product in the maturity stage of its life cycle be least concerned with at the present time?
increase compacity
Which of the following are part of the ten critical decisions of operations management?
I. Design of goods and services
II. Managing quality
III. Layout strategy
Which of the following is true?
functional strategies are shaped by corporate strategies
A firm producing a good is more likely to have which set of the following characteristics compared to a firm providing a service?
many objective quality standards, tangible product, and locate away from customers
WBS stands for which of the following project management tools?
Work Breakdown Structure
Which of the following statements regarding time-cost tradeoffs in CPM networks is FALSE?
Crashing sometimes has the reverse result of lengthening the project duration
For a given product demand, the time series equation is 53-4x. The negative sign on the slope of the equation:
is an indication that product demand is declining
OMs must be able to anticipate changes in which of the following?
product volume, product mix, product opportunities, the products themselves…ALL OF THE ABOVE
The product tool that helps determine what products to develop, and by what strategy, by listing products in descending order over their individual dollar contribution to the firm is:
product-by-value analysis
Which of the following shows in schematic form how a product is assembled?
an assembly chart
A product’s organization that becomes permanent is often referred to as a:
matrix organization
Payoffs, alternatives, and expected monetary values are terms associated with:
decision trees
Which of the following statements regarding CPM networks is true?
if a specific project has multiple critical paths, all of them will have the same duration
In time series, which of the following cannot be predicted?
random fluctuations
Which time-series model uses past forecasts and past demand to generate a new forecast?
exponential smoothing
Which of the following is NOT a service design technique used to reduce cost?
increasing customer interaction

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