BUSI 411 Exam with correct Answers Liberty University GradeAplus

Question 1 With an A-B-C system, an item that had a high demand but a low annual dollar volume would probably be classified as: Question 2 The materials manager for a billiard ball maker must periodically place ...

Question 1 With an A-B-C system, an item that had a high demand but a low annual dollar volume would probably be classified as: Question 2 The materials manager for a billiard ball maker must periodically place orders for resin, one of the raw materials used in producing billiard balls. She knows that manufacturing uses resin at a rate of 50 kilograms each day, and that it costs $.04 per day to carry a kilogram of resin in inventory. She also knows that the order costs for resin are $100 per order, and that the lead time for delivery is four days. At what point should resin be reordered? Question 3 The EOQ model is most relevant for which one of the following? Question 4 The Operations Manager for Shadyside Savings & Loan orders cash from her home office for her very popular "BIG BUCKS" automated teller machine, which only dispenses $100 bills. She estimates that this machine dispenses an average of 12,500 bills per month, and that carrying a bill in inventory costs 10 percent of its value annually. She knows that each order for these bills costs $300 for clerical and armored car delivery costs, and that order lead time is six days. Assuming a 30-day month, if she were to order 6,000 bills at a time, what would be the dollar value of the average inventory level? Question 5 In a single-period model, if shortage cost is four times excess cost, then the optimum service level is ___ percent. Question 6 A basic requirement for operating with the low inventories present in lean systems is Question 7 Although transitioning to a lean system can be a powerful means of improving performance, some believe that using __________ along with lean can lead to even better results. Question 8 In the lean philosophy, the ideal lot size is: Question 9 The approaches used in lean systems to deal with quality include: (I) designing quality into products and processes (II) insisting vendors provide high-quality material (III) expecting workers to be involved in continuous improvement (IV) training workers in statistical process control (V) 100 percent inspection of raw materials, work-in-process, and finished goods Question 10 When lean is used in the context of services, which of the following is most often the focus? Question 11 Which of the following is an advantage of E-business? (I) reduction of transaction costs (II) shortened supply chain response time (III) greater customer loyalty Question 12 Which of the following is not an application of E-business? Question 13 The purchasing perspective of the supplier as a partner is characterized by: Question 14 One important role of purchasing is to: Question 15 One of the biggest ethical risks in supply chain management is that the __________ supply chain member tends to be the one that suffers the blame and/or lost goodwill when something goes wrong. Question 16 The following table contains information about five jobs waiting to be processed at work center number three. Job Processing Time (hrs) Hours Until Due a 14 15 b 10 20 c 18 18 d 2 16 e 4 21 The sequence that would result using the SPT rule is: Question 17 The president of a consulting firm wants to minimize the total number of hours it will take to complete four projects for a new client. Accordingly, she has estimated the time it should take for each of her top consultants—Charlie, Betty, Johnny, and Rick—to complete any of the four projects, as follows: Project (Hours) Consultant A B C D Charlie 13 16 11 13 Betty 11 15 14 18 Johnny 15 22 12 15 Rick 17 17 12 22 Assume there must be one-to-one matching between consultants and projects. After the row and column reductions, what is the resulting entry in the new table for assigning Rick to project D? Question 18 In an assignment model where there are fewer jobs than resources: Question 19 Scheduling in service systems may involve scheduling: (I) the workforce. (II) the equipment. (III) customers. Question 20 The operations manager of a body and paint shop has five cars to schedule for repair. He would like to minimize the makespan to complete all work on these cars. Each car requires body work prior to painting. The estimates of the times required to do the body and paint work on each are as follows: Car Body Work (hrs) Paint (hrs) A 10 2 B 5 4 C 7 5 D 3 6 E 1 7 What is the makespan for the optimal schedule? Question 21 The calculation of safety stock requires knowledge of demand and lead time variability. Question 22 Vendor analysis examines the function of purchased parts and materials with a view toward improvement or cost reduction. Question 23 Managing supply chain visibility involves making sure that potential supply chain partners are aware of your organization's needs. Question 24 Bottlenecks in service systems may shift with the passage of time, so that different operations Question 25 Priority rules are used in low-volume systems to identify an optimal processing sequence.