Operations Management
What makes up an operation management system?
A collection of procedures
A collection of processes
A collection of practices
All of the above
A and B
What is the primary goal of operation management?
Reduce costs
Increase revenue
Manage manpower
Highest net operating profit
Customer satisfaction
Highest level of efficiency is relatively connected to costs.
True
False
One of the fun
Product Design
Process Design
Plant Layouts
Material Handling
Maintenance
The heart of operations management is __.
Product Design
Process Design
Plant Layouts
Material Handling
Material Management
This refers to the physical relationship among the building, equipment and product operations
Product Design
Plant Layouts
Process Design
Warehouse Management
Material Handling
Which one is not an objective of operations management?
Minimizing operation expenses
Optimizing capacity utilizati
Improving quality of life
Increasing customer satisfaction
None of the above
Businesses rely on operations management systems.
True
False
What is CSR?
Corporal Social Responsibility
Corporate Security Responsibility
Corporate Societal Relativity
Corporate Social Responsibility
This goal is making use of the available resources of the business
Improving quality
Increasing customer satisfaction
Optimising capacity utilization
Minimizing operation expenses
One important fun
Production plan and control
Quality control
Maintenance
Material Management
What is the primary goal of production in a business?
To produce finished products
To ensure quality products and services
To make sales and promotions
To transform inputs into finished goods to meet quality standards and customer requirements
All of the above
Production Manager, Purchasing Manager, HR Manager are part of Operations management
True
False
The difference between goods and services in the context of production is?
Services are intagible
Products are tangible
Both can be tangible and intangible
A and B
None of the above
This fun
Material Requirements Planning
Forecasting
Material Management
Procurement of Materials
Inventory Management
It is the process of analyzing the previous and present data to come up with the requirements for production
Educated Guess
Prediction
Forecasting
All of the above
None of the above
The significance of forecasting is to help businesses to make profit.
True
False
The following are being considered in forecasting except:
Historical data
Market trends
Future outcomes
Changes in demand and supply
Not in the list
This serves as a pillar for planning business operations.
Material Planning
Process Planning
Forecasting
Warehousing
Material Handling
Forecasts are rarely imperfect
True
False
What is the goal of forecasting?
To lessen forecast errors as possible
To generate good forecast
A and B
To produce average forecasts
None of the above
It is more accurate to forecast grouped data
True
False
Which one is not false?
Near term demand are more accurate than long term
Grouped data is more accurate than individual data
A and B
A only
B only
Learning from mistakes in forecasting would mean...
Learning from the success of others
Analyzing past forecasting errors for improvement
Using past data to refine the process
Avoiding the same mistakes in the future
B, C, and D
The first step in forecasting process is ____
Goal setting
Expectation setting
Identifying errors
Prioritizing demands
Correcting mistakes
This forecasting model is uses intuition, emotions, personal experiences and value system.
Quantitative
Qualitative
Numeric
Socio Economic
None of the above
This process of forecasting involves checking the predictions against actual outcomes.
Validation
Review and adjust
Data gathering
Data analysis
Goal setting
Warehouse
This method in forecasting that uses historical
Time-series analysis
Regression analysis
Econometric
Which one is not part of the forecasting process?
Goal setting
Data gathering
Data analysis
Forecasting
Rewiew
Validation
Which is not included in the forecasting process?
Analyze the data
Forecasting the data
Validating the data
Review and ñadjusts
None of the abovee
What is capacity planning?
It refers to assessing organization's ability to meet the production or service delivery needs
The process that ensures the right number of resources to meet current demand
It involves forecasting future demand, evaluating existing capacity and identifying gaps and excess capacity
A and B
All of the above
Which statement/s is/are true?
Capacity planning helps minimize resource utilization
Capacity planning augments production bottlenecks
Capacity planning optimize operational costs
A and B
None of the above
This type of capacity planning ensures the needed workforce to meet demand
Workforce management
Workforce planning
Workforce development
Workforce capacity planning
Workforce monitoring
This capacity strategy ensures the right deliverables
Production planning
Production capacity planning
Product capacity planning
Product planning
Product designing
This strategy ensures to meet the necessary tools for production
Tool planning
Tool capacity planning
Tool procurement
Tool canvassing
Tool requirements
This method entails sufficient resources to fulfill demand not estimations.
Lag
Lead
Match
A and B
None of the above
This technique is a combination of lag and lead
Lag and Lead
Mixed
Combination
Mismatch
Match
Three basic steps in capacity planning
Measure, analyze, evaluate
Measure, synchronize, formulatete
Treasure, analyze, formulate
Measure, analyze, formulate
Measure, length, width
Resource capacity must be measured last.
True
False
What is the goal of capacity planning?
Ensure readiness of products in the market
Ensure supply chain readiness
A and B
A only
B only
Which one is not a benefit of capacity planning?
Reduces stockouts
Decreases delivery capacity
Identifies process efficiencies
Facilitate risk management
All of the above
B and C
Effective capacity planning is a roadmap for business
True
False
Capacity planning will prepare you to overcome obstacles
True
False
Lead Strategy entails to satisfy demand estimates
True
False
Is method not included in the list of input?
True
False
OM is the administration of business practices to create highest level of effectivity
True
False
Is packaging part of OM output?
True
False
Material handling refers to the movement of goods and materials within the production premises.
True
False
Is maintenance a systematic upkeeping of the company assets.
True
False
Reproduction planning and control manages the resources to produce finished goods effectively and efficiently
True
False
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