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WorksheetsSupply Chain Final
Total questions: 79
Worksheet time: 1hrs 19mins
What is the main goal of a lean system?
Increase inventory
Eliminate waste
Maximize production speed
Reduce employee workload
What does muda refer to in lean systems?
Inventory
Waste
Quality control
Forecast error
Which of the following is NOT a lean principle?
A) Pull method
B) Small lot sizes
C) Push method
D) Quality at the source
What is the purpose of jidoka?
Forecasting demand
Automating production
Stopping production when a defect is found
Increasing inventory turnover
What does 5S stand for in lean systems?
Sort, Set in order, Shine, Standardize, Sustain
Speed, Safety, Structure, Strategy, Sustain
Select, Sort, Shine, Standardize, Simplify
Sustain, Sort, Shine, Structure, Standardize
What is a value stream map (VSM) used for?
Tracking inventory levels
Mapping the flow of materials and information
Forecasting demand
Scheduling employee shifts
Which icon in a VSM represents inventory?
Triangle
Rectangle
What is a project?
A routine task
A temporary endeavor with a specific goal
A continuous process
A manufacturing operation
What is the critical path?
The path with the most slack
The longest duration path through the project
The shortest path through the project
The path with the least cost
Slack is defined as:
The time a task can be delayed without affecting the project
The total duration of a project
The cost of delaying a task
The difference between ES and EF
What does ES stand for?
Early Start
Estimated Schedule
Event Start
Expected Slack
What is crash time?
The time to complete a task under normal conditions
The shortest possible time to complete a task
The time lost due to delays
The time to complete a project with no resources
What are the four categories of project risk?
Cost, Time, Scope, Quality
Financial, Strategic, Operational, Compliance
Technical, External, Organizational, Project Management
Internal, External, Market, Legal
What distribution is used in statistical project analysis?
Normal
Binomial
Poisson
Exponential
What is the purpose of project scope?
To define the budget
To outline the project's objectives and boundaries
To assign team members
To determine the project's duration
A matrix organizational structure is:
a structure where employees report to both functional and project managers
a structure with only one manager for each employee
a structure based solely on product lines
a structure that eliminates all managerial roles
What is a demand pattern?
A) A type of inventory
B) A trend in customer orders
C) A method of forecasting
D) A production schedule
Which method is best when historical data is unavailable?
A) Time-series
B) Causal
C) Judgment
D) Regression
What does a high r2 value indicate?
High bias
Strong model fit
High error
Weak correlation
Which of the following is a time-series method?
Delphi method
Linear regression
Moving average
Simulation
What is forecast bias?
Random error
Consistent over- or under-prediction
Variation in demand
Seasonal fluctuation
What is the purpose of monitoring forecasts?
To reduce production time
To improve forecast accuracy
To increase inventory
To eliminate variation
Which method uses independent variables to predict demand?
A) Time-series
B) Causal
C) Judgment
D) Simulation
24. Inventory is:
the goods and materials a business holds for the purpose of resale
the money a business earns from sales
the equipment used in production
the employees working in a company
What is safety stock?
A) Inventory held for seasonal demand
B) Inventory held to prevent stockouts
C) Inventory in transit
D) Inventory used for promotions
What is EOQ used for?
Forecasting demand
Determining optimal order quantity
Scheduling production
Managing employees
At EOQ, what is true?
Holding cost > Ordering cost
Ordering cost > Holding cost
Holding cost = Ordering cost
Holding cost + Ordering cost = 0
What does ABC analysis classify?
Employees
Inventory by value
Forecasting methods
Project risks
What is a Q system?
Inventory reviewed at fixed intervals
Inventory reviewed continuously
Inventory ordered once per year
Inventory managed by suppliers
What is anticipation inventory?
Inventory held for promotions
Inventory held for expected demand increases
Inventory held for emergencies
Inventory held for safety
What is the key difference in ordering for seasonal items?
Demand is constant
Only one ordering opportunity
Holding cost is zero
Lead time is irrelevant
What value is critical in seasonal inventory decisions?
Setup cost
Salvage value
Holding cost
What is a supply chain?
A network of warehouses
A system of production only
A network of organizations involved in producing and delivering goods
A marketing strategy
What is backward integration?
Selling directly to customers
Acquiring suppliers
Outsourcing production
Offshoring labor
What is offshoring?
Moving production to another country
Hiring freelancers
Selling products online
Reducing inventory
What is the difference between efficient and responsive supply chains?
Efficient chains minimize cost; responsive chains maximize flexibility
Efficient chains use pull systems; responsive chains use push systems
Efficient chains are slower; responsive chains are faster
There is no difference
What is mass customization?
Producing one product for all customers
Customizing products for individual customers at scale
Outsourcing production
Reducing product variety
Why is supply chain design important?
It determines employee roles
It affects cost, speed, and flexibility
It eliminates forecasting
It reduces marketing expenses
A U.S. firm sourcing a component from Africa that it used to make domestically is engaging in:
Offshoring
Outsourcing
Forward integration
Vertical integration
Fill in the blank: The main goal of Lean Systems is to ________ waste.
Eliminate
Increase
Ignore
Multiply
Fill in the blank: In Lean Systems, ________ is considered anything that does not add value.
Waste
Inventory
Efficiency
Quality
Fill in the blank: The ________ method is a production strategy where products are made only as needed.
Push
Pull
Batch
Continuous
Fill in the blank: In Lean Systems, ________ production occurs when a defect is found.
Stopping
Continuous
Accelerated
Batch
Fill in the blank: The 5S methodology includes Sort, Set in order, Shine, ________, and Sustain.
Standardize
Simplify
Synchronize
Sanitize
Fill in the blank: ________ is the process of mapping the flow of materials and information.
Mapping
Forecasting
Scheduling
Auditing
Fill in the blank: The shape used to represent inventory in process mapping is a ________.
Triangle
Circle
Square
Diamond
Chapter 7: Project Management Fill in the blank: A project is a temporary endeavor with a specific ________.
Goal
Location
Duration
Budget
Fill in the blank: The ________ is the longest duration path through the project.
Critical path
Baseline path
Resource path
Slack path
Fill in the blank: ________ is the time a task can be delayed without affecting the project.
Slack
Duration
Milestone
Resource
Fill in the blank: ________ is the earliest time a task can start in a project schedule.
Early Start
Late Finish
Critical Path
Float
Fill in the blank: The shortest possible time to complete a task is called the ________ time.
Crash
Normal
Slack
Float
Fill in the blank: The four types of project management are Technical, External, Organizational, and ________.
Project Management
Financial
Strategic
Operational
Fill in the blank: The normal time to complete a task is called ________ time.
Normal
Crash
Optimistic
Pessimistic
Fill in the blank: The project charter is used to outline the project's objectives and ________.
Boundaries
Resources
Timeline
Budget
In a matrix organization, employees report to ________ managers.
Multiple
Single
No
Temporary
Fill in the blank: A trend in customer orders is an example of ________ forecasting.
Quantitative
Qualitative
Subjective
Intuitive
Fill in the blank: ________ is a forecasting method based on expert opinion.
Judgment
Regression
Time Series
Simulation
Fill in the blank: A strong model fit indicates a ________ forecasting model.
Reliable
Unstable
Random
Inaccurate
Fill in the blank: The ________ average is a method used in time series forecasting.
Moving
Median
Geometric
Weighted
Fill in the blank: Consistent over- or under-prediction in forecasting is called ________.
Bias
Variance
Noise
Error
Fill in the blank: Improving forecast accuracy is a goal of ________ analysis.
Forecast
Financial
SWOT
Regression
Fill in the blank: ________ forecasting is based on cause-and-effect relationships.
Causal
Qualitative
Judgmental
Time series
What is any item held for future use or sale?
Inventory held to prevent stockouts
Inventory reviewed continuously
Any item held for future use or sale
Inventory held for expected demand increases
What is inventory held to prevent?
Determining optimal order quantity
Inventory held to prevent stockouts
Holding cost = Ordering cost
Inventory by value
What is determining optimal order quantity?
Inventory by value
Inventory reviewed continuously
Determining optimal order quantity
Inventory held for expected demand increases
What is holding cost equal to?
Inventory held to prevent stockouts
Inventory reviewed continuously
Holding cost = Ordering cost
Inventory by value
What is inventory by value?
Inventory held for expected demand increases
Inventory by value
Only one ordering opportunity
Salvage value
What is inventory reviewed continuously?
Inventory by value
Inventory reviewed continuously
Only one order is placed
Acquiring suppliers
What is inventory held for expected demand increases?
Inventory held to prevent stockouts
Inventory held for expected demand increases
Moving production to another country
Efficient chains minimize cost; responsive chains maximize flexibility
What is only one ordering opportunity?
Salvage value
Only one ordering opportunity
Only one order is placed
Acquiring suppliers
What is salvage value?
Only one ordering opportunity
Salvage value
Only one order is placed
Acquiring suppliers
What is only one order is placed?
Only one ordering opportunity
Salvage value
Only one order is placed
Acquiring suppliers
What is a network of organizations involved in producing and delivering goods?
Acquiring suppliers
Moving production to another country
Customizing products for individual customers at scale
What is acquiring suppliers?
Acquiring suppliers
Moving production to another country
A network of organizations involved in producing and delivering goods
Customizing products for individual customers at scale
What is moving production to another country?
Acquiring suppliers
Moving production to another country
A network of organizations involved in producing and delivering goods
Customizing products for individual customers at scale
What do efficient chains minimize and responsive chains maximize?
Efficient chains minimize cost; responsive chains maximize flexibility
Customizing products for individual customers at scale
It affects cost, speed, and flexibility
Offshoring
What is customizing products for individual customers at scale?
Efficient chains minimize cost; responsive chains maximize flexibility
Customizing products for individual customers at scale
It affects cost, speed, and flexibility
Offshoring
What does it affect: cost, speed, and flexibility?
Efficient chains minimize cost; responsive chains maximize flexibility
Customizing products for individual customers at scale
It affects cost, speed, and flexibility
Offshoring
What is offshoring?
Efficient chains minimize cost; responsive chains maximize flexibility
Customizing products for individual customers at scale
It affects cost, speed, and flexibility
Offshoring
