FOR MORE CLASSES VISIT www.ops571help.com 1. Which of the following is a measure of operations and supply management efficiency used by Wall Street? Dividend payout ratio Receivable turnover Current ratio Financial leverage Earnings per share growth 2. An activity-system map is which of the following? A diagram that shows how a company's strategy is delivered to customers A timeline displaying major planned events A network guide to route airlines A facility layout schematic noting what is done where A listing of activities that make up a project

1. OPS 571 Final Exam Guide (New, 2018)
From an operational perspective, yield management is most
effective under which of the following circumstances
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1. Which of the following is a measure of operations and supply
management efficiency used by Wall Street? Dividend payout ratio
Receivable turnover Current ratio Financial leverage Earnings per
share growth
2. An activity-system map is which of the following? A diagram
that shows how a company's strategy is delivered to customers A
timeline displaying major planned events A network guide to route
airlines A facility layout schematic noting what is done where A
listing of activities that make up a project
3. Which of the following is a total measure of productivity?
Output/Materials Output/Labor Output/(Labor + Capital + Energy)
All of these Output/Inputs
4. Which of the following approaches to service design is
characterized by having the customer take a greater role in the
production of the service? Quality approach Self-service approach
Production-line approach Do-it-yourself approach Personal-
attention approach
5. Which of the following basic types of production layout formats
is one that has similar equipment or functions are grouped together?

2. Workcenter layout Production line layout Group technology layout
Manufacturing cell layout Assembly line layout
6. Which of the following is a characteristic that can be used to
guide the design of service systems? Services are all similar.
Services cannot be inventoried. Services businesses are inherently
entrepreneurial. Even service businesses have internal services.
Quality work means quality service.
7. An advantage of a make-to-stock process is which of the
following? All units of output are unique. It features rapid delivery
of a standard product. It combines the best features of other
processes. It responds directly to customer orders. It allows the firm
to avoid inventory costs.
8. Getting an autograph from a famous person might involve
standing in which type of queuing line structure? Single channel,
single phase None of these Single channel, multiphase
Multichannel, multiphase Multichannel, single phase
9. For an infinite queuing situation, if the arrival rate for loading
trucks is 5 trucks per hour, what is the mean time between arrivals?
2.5 hours 5 hours 0.2 hour 0.1 hour None of these
10. An assumption of learning curve theory is which of the
following? Organizational learning is not included in learning
theory. The time required to do a task will vary randomly each time
the task is repeated. Unit time will decrease at an increasing rate.
Learning will not be transferred from one worker to the next. The
reduction in unit time will follow a predictable pattern.

3. 11. A company's production process has an 80 percent learning
curve rate. The process has produced 1,000 units to date. A process
refinement is estimated to allow a future learning curve rate for the
identical product of 75 percent. However, the initial unit made using
the new process will take the same amount of time as the initial unit
produced using the old process. At what point, using the new
process, will the production rate exceed the production rate achieved
by the old process? Before the 100th unit Before the 120th unit
Before the 80th unit Before the 50th unit Before the 250th unit
12. For which of the following should we use a p-chart to monitor
process quality? Grades in a freshman "pass/fail" course
Temperatures in a classroom The dimensions of brick entering a
kiln The weight of fluid in a container Lengths of boards cut in a
mill
13. You have been called in as a consultant to set up a Kanban
control system. The first thing to do is to determine the number of
Kanban card sets needed. Your research shows that the expected
demand during lead time for a particular component is 150 per hour.
You estimate the safety stock should be set at 25 percent of the
demand during lead time. The tote trays used as containers can hold
8 units of stock, and the lead time it takes to replenish an order is 2
hours. Which of the following is the number of Kanban card sets
necessary to support this situation? 42 68 89 47 94
14. Which of the following is a fixed-time-period inventory model?
Just-in-time model The EOQ model Periodic system model The Q
model The least cost method

4. 15. A company is planning for its financing needs and uses the basic
fixed-order-quantity inventory model. Which of the following is the
total cost (TC) of the inventory given an annual demand of 10,000,
setup cost of $32, a holding cost per unit per year of $4, an EOQ of
400 units, and a cost per unit of inventory of $150? None of these
$1,501,600 $1,498,200 $499,313 $500,687 A. $1,501,600 Q = 400.
Average Inventory = Q/2 = 200. Holding cost/year = $4. Thus,
annual holding cost = $800. Annual set-up cost = 10,000/400 = 25 x
$32 = 800. Demand x cost per unit = 10,000 x $150 = 1,500,000.
Hence, TC = $1,500,000 + 800 + 800 = $1,501,600.
16. Which of the following is a principle of work center scheduling?
Reschedule every day. Once started, a job can and should be
finished even if unavoidably interrupted. Assign the first worker to
all of the days that require staffing. Achieve certainty in standards
and routings. Give work centers less to do then their maximum.
17. Which of the following is a "focusing step" of Dr. Eli Goldratt's
theory of constraints? Identify system constraints. Support system
constraints. If you have no system constraints, make some. Reduce
system constraints. Reinforce system constraints.
18. In designing a lean production facility layout, a designer should
do which of the following? Locate flexible workstations offline.
Balance capacity using job shop analysis. Design for work flow
balance. Always keep operations on a single floor of the factory.
Link operations through a push system.
19. A simple project listing of five activities and their respective
time estimates are presented here: Using CPM, which activities

5. make up the critical path? None of these A, B, D, E A, D, E A, C, B,
D, E A, C, D, E
20. A company must perform a maintenance project consisting of
seven activities. The activities, their predecessors, and their
respective time estimates are presented here: Using CPM, which
activities make up the critical path? A, C, B, F, E None of these A,
B, D, F, G A, C, E, F, G A, D, E
21. Which of the following is not a problem definition tool from the
operations consulting tool kit? Issue trees Five forces model
Computer simulation Customer surveys Gap analysis
22. Which of the following is not one of the basic types of
forecasting? Simulation Causal relationships Qualitative Time series
analysis Force field analysis
23. A company has actual unit demand for three consecutive years
of 124, 126, and 135. The respective forecasts for the same three
years are 120, 120, and 130. Which of the following is the resulting
MAD value that can be computed from these data? 3 1 15 123 5 C
MAD = ABS[(124 - 120) + (126 - 120) + (135 - 130)]/3 = 15/3 = 5.
25. What is transaction processing? The decision support system
used to efficiently handle multiple transactions The movement of
paperwork through a system using a decision tree The scheduling of
machinery to minimize time and scrap The posting and tracking of
the detailed activities of a business
26. If the actual output of a piece of equipment during an hour is
500 units and its best operating level is at a rate of 400 units per

6. hour, which of the following is the capacity utilization rate? 0.75
1.00 1.25 1.33 100
27. Which of the following is an input to the master production
schedule (MPS)? Planned order schedules The bill of materials The
aggregate plan The exception report Inventory records file
28. Which of the following is considered a primary report in an
MRP system? Cycle counting reports Performance reports Planned
order schedules Planning reports Exception reports
29. The centroid method for plant location uses which of the
following data? Probabilities and payoffs Correlation matrix of
existing facilities Volume of goods to be shipped between existing
points Inbound transportation costs Transport times between
facilities
30. In Hau Lee's uncertainty framework to classify supply chains, a
supply chain for functional products with an evolving supply
process is called which of the following? Responsive Forward
looking Efficient Risk hedging Agile

7. hour, which of the following is the capacity utilization rate? 0.75
1.00 1.25 1.33 100
27. Which of the following is an input to the master production
schedule (MPS)? Planned order schedules The bill of materials The
aggregate plan The exception report Inventory records file
28. Which of the following is considered a primary report in an
MRP system? Cycle counting reports Performance reports Planned
order schedules Planning reports Exception reports
29. The centroid method for plant location uses which of the
following data? Probabilities and payoffs Correlation matrix of
existing facilities Volume of goods to be shipped between existing
points Inbound transportation costs Transport times between
facilities
30. In Hau Lee's uncertainty framework to classify supply chains, a
supply chain for functional products with an evolving supply
process is called which of the following? Responsive Forward
looking Efficient Risk hedging Agile