Inventory Management Multiple Choices: 1. ……………………. is IT tool used for automation data capture. 2. Stockout Level is also called the a. Red Zone b. Amber Zone c. Both (a) & (b) d. None of the above 3. When classified on the basis of time period, they are a. Supply forecast b. Price forecast c. Demand forecast d. None of the above 4. The Delphi Method was developed by the Rand Corporation in the a. 1980 b. 1970 c. 1950 d. None of the above 5. The BOM file is also called the a. Product Structure File b. Product Tree c. Both (a) & (b) d. None of the above 6. What is the meaning of “Doller Days”. a. Making money with in area b. Management of the value of inventory and time with in area c. Inventory control d. Management of time 7. Weeks of supply = …………………………………………….. 8. Fastest and Expensive mode of Transport. a. Air b. Rail c. Water d. Pipeline 9. ERP systems were developed in a. 1998 b. 1990 c. 1980 d. 1987 10. The ABC analysis is also called the ……………………………… Part Two: 1. What is “Dependent Demand”? 2. Write short note on “Simulation Models”. 3. What is “Time Phasing”. 4. Write short note on “Statistical Techniques of Forecasting”. 1. Keeping in mind the objectives, do you think the company should go in for a highly integrated system? Support your answer with reasons. 2. Discuss the relevant inventory management strategies for the company. 1. What arguments are there in favour of a formal salvage program at Advanced Management University? 2. What arguments would be expected against the program? 3. What organisational structure should Julie Joy install? 4. Develop a salvage program for Advanced Management University. 1. At Ford Motor company, every car or truck model has its own internal website to track design, production, quality control and delivery processes. Suppliers and customers also have access to the site, and all concerned are expected to provide full supply chain information. How do you think this would affect the life of the middle manager? 2. Give example of some typical case where inventory management based on unscientific method could go wrong. Production and Operation Management Multiple choices: 1. If the number of restrictions on sources be ‘a’ and the number of restrictions on destinations be ‘b’ then with the use of ‘stepping stone procedure’, the number of ‘used cells’ will be a. a+b+1 b. a+b+2 c. a-b-1 d. a+b-1 2. Value of smoothing coefficient ‘α’ lies a. Between 1 and ∞ b. Between 0 and 1 c. Between -1 and 1 d. Between 1 and 2 3. Forecasting error is a. The difference between forecasted demand and actual demand b. The ratio of forecasted demand and actual demand c. The difference between the standard forecast demand and the evaluated forecast demand d. Ratio of standard forecast demand and the evaluated forecast demand 4. For forecasting the analyzers plot the demand data on a time scale, study the plot and then look for the consistent patterns. Now what does the high noise mean to these patterns a. Many of the point lie away from the pattern b. Most of the points lie close to the pattern c. All the points lie on the pattern d. None 5. Payback period is a. The length of time after which the production starts b. The length of time after which the selling starts c. The length of time required to recover the investment d. The length of time for which firm bears replacement of the good. 6. Salvage value is the income from a. Selling an asset b. Buying an asset c. Bargaining in selling d. Price raised stock 7. On total factor basis ‘Productivity’ is given by x/y, where ‘y’ is a. Labor + Capital +Materials b. Labor + Capital + Materials + Energy c. Capital d. Capital + Materials 8. Economic efficiency is given by a. Input /output b. Input /100 c. (Output-input)/input d. Output /input 9. This implies an effective management that ensures an organization’s long-term commitment to the continuous improvement of quality. a. Quality management b. Strategic management c. Total quality management d. Operations management 10. This techniques for improving productivity involves analyzing the operations of the product or service, estimate the value of each operation, and modifying (or) improving that operation so that the cost is lowered. a. Value engineering b. Time-event network c. Work simplifications d. Quality circles Part Two: 1. What are the different types of models in production and operation management? 2. Define ‘Depreciation’. 3. What do you understand by ‘Bias’? 4. What are ‘Learning curves’? 1. What do you recommend? Should the company implement one of the new technologies? Why orwhy not? 2. An operations analyst suggested that company employees shared a “dump on the clerks”mentality. Explain. 1. Prepare a worksheet of operations activities that Harrison should inquire about this summer. 2. If you were Harrison, what would you do? Why? 1. Productivity is an important tool for mangers as it helps them to track progress toward the more efficient use of resources in producing goods and services. Elucidate. 2. In additional to operations research, what are the other tools and techniques used by organizations to improve productivity?

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Inventory Management

Multiple Choices:

1. ……………………. is IT tool used for automation data capture.

2. Stockout Level is also called the

a. Red Zone

b. Amber Zone

c. Both (a) & (b)

d. None of the above

3. When classified on the basis of time period, they are

a. Supply forecast

b. Price forecast

c. Demand forecast

d. None of the above

4. The Delphi Method was developed by the Rand Corporation in the

a. 1980

b. 1970

c. 1950

d. None of the above

5. The BOM file is also called the

a. Product Structure File

b. Product Tree

c. Both (a) & (b)

d. None of the above

6. What is the meaning of “Doller Days”.

a. Making money with in area

b. Management of the value of inventory and time with in area

c. Inventory control

d. Management of time

7. Weeks of supply = ……………………………………………..

8. Fastest and Expensive mode of Transport.

a. Air

b. Rail

c. Water

d. Pipeline

9. ERP systems were developed in

a. 1998

b. 1990

c. 1980

d. 1987

10. The ABC analysis is also called the ………………………………

Part Two:

1. What is “Dependent Demand”?

2. Write short note on “Simulation Models”.

3. What is “Time Phasing”.

4. Write short note on “Statistical Techniques of Forecasting”.

1. Keeping in mind the objectives, do you think the company should go in for a highly

integrated system? Support your answer with reasons.

2. Discuss the relevant inventory management strategies for the company.

1. What arguments are there in favour of a formal salvage program at Advanced Management

University?

2. What arguments would be expected against the program?

3. What organisational structure should Julie Joy install?

4. Develop a salvage program for Advanced Management University.

1. At Ford Motor company, every car or truck model has its own internal website to track design,

production, quality control and delivery processes. Suppliers and customers also have access

to the site, and all concerned are expected to provide full supply chain information. How do

you think this would affect the life of the middle manager?

2. Give example of some typical case where inventory management based on unscientific method

could go wrong.

Production and Operation Management

Multiple choices:

1. If the number of restrictions on sources be ‘a’ and the number of restrictions on destinations be

‘b’ then with the use of ‘stepping stone procedure’, the number of ‘used cells’ will be

a. a+b+1

b. a+b+2

c. a-b-1

d. a+b-1

2. Value of smoothing coefficient ‘α’ lies

a. Between 1 and ∞

b. Between 0 and 1

c. Between -1 and 1

d. Between 1 and 2

3. Forecasting error is

a. The difference between forecasted demand and actual demand

b. The ratio of forecasted demand and actual demand

c. The difference between the standard forecast demand and the evaluated forecast demand

d. Ratio of standard forecast demand and the evaluated forecast demand

4. For forecasting the analyzers plot the demand data on a time scale, study the plot and then look

for the consistent patterns. Now what does the high noise mean to these patterns

a. Many of the point lie away from the pattern

b. Most of the points lie close to the pattern

c. All the points lie on the pattern

d. None

5. Payback period is

a. The length of time after which the production starts

b. The length of time after which the selling starts

c. The length of time required to recover the investment

d. The length of time for which firm bears replacement of the good.

6. Salvage value is the income from

a. Selling an asset

b. Buying an asset

c. Bargaining in selling

d. Price raised stock

7. On total factor basis ‘Productivity’ is given by x/y, where ‘y’ is

a. Labor + Capital +Materials

b. Labor + Capital + Materials + Energy

c. Capital

d. Capital + Materials

8. Economic efficiency is given by

a. Input /output

b. Input /100

c. (Output-input)/input

d. Output /input

9. This implies an effective management that ensures an organization’s long-term commitment to

the continuous improvement of quality.

a. Quality management

b. Strategic management

c. Total quality management

d. Operations management

10. This techniques for improving productivity involves analyzing the operations of the product or

service, estimate the value of each operation, and modifying (or) improving that operation so that

the cost is lowered.

a. Value engineering

b. Time-event network

c. Work simplifications

d. Quality circles

Part Two:

1. What are the different types of models in production and operation management?

2. Define ‘Depreciation’.

3. What do you understand by ‘Bias’?

4. What are ‘Learning curves’?

1. What do you recommend? Should the company implement one of the new technologies? Why orwhy not?

2. An operations analyst suggested that company employees shared a “dump on the clerks”mentality. Explain.

1. Prepare a worksheet of operations activities that Harrison should inquire about this summer.

2. If you were Harrison, what would you do? Why?

1. Productivity is an important tool for mangers as it helps them to track progress toward the more

efficient use of resources in producing goods and services. Elucidate.

2. In additional to operations research, what are the other tools and techniques used by organizations

to improve productivity?