Major process flow structure

Assignment Help Finance Basics
Reference no: EM13790257

1.Which of the following is considered a major process flow structure?

  • Lead Time
  • Fabrication
  • Lean Manufacturing
  • Project

2. ISO audits result in certifications that are done by first, second, or third parties. Which of the following result in the best certification of a firm?

  • Certification is sought by any firm assuming they pay annual dues.
  • 2nd Party - where a customer audits its supplier
  • 3rd Party - where a qualified national or international standards/certifying agency serves as an auditor
  • 1st Party - where a firm audits itself against ISO standards

3. Which of the following is ISO 14000 primarily concerned with?

  • Quality management
  • Time management
  • Continuous improvement management
  • Environmental management

4. Which is the one correct value stream principle?

  • Look for efficiencies in the factory, office, physical, procedural, and technical operations.
  • Eliminate waste that stops, slows down, or diverts the value stream.
  • Concentrate on speeding up value-adding operations rather than removing waste.
  • Keep the value stream moving at minimum velocity.

5. What is the starting point in developing a capacity plan for a health care operation?

  • Determining the effective capacity over time
  • Estimating design capacity
  • Forecasting patient demand for a reasonable length of time
  • Discovery of the bottleneck operation

6. Which of the following is considered an organizational blueprint, which prescribes the quantity and time frame for when each end product will be assembled?

  • MRP (Material Requirements Plan)
  • ERP (Enterprise Resource Planning)
  • MPS (Master Production Schedule)
  • WBS (Work Breakdown Structure)

7. Which of the following is an element that addresses elimination of waste under lean production?

  • Kanban production control system
  • Production ahead of demand
  • Minimized run times
  • Group plant loading technology

8. In most cases, demand for products or services can be broken into several components. Which of the following is considered a component of demand?

  • Level elements
  • Future elements
  • Past elements
  • Cyclical elements

9. Design for manufacturing and assembly delivers product improvements by emphasizing which of the following:

  • Reducing product quality during the assembly process
  • Designing products so they can be manufactured by a virtual factory
  • Reducing equipment in the production process
  • Simplification of the product by reducing the number of separate parts

10. Which of the following is one of the principles of reengineering?

  • Quality at the source
  • Do not select suppliers on the basis of price alone.
  • Have those who use the output of a process perform the process.
  • Leverage high cost employees with lower cost employees.

11. Which of the following is a characteristic that can be used to guide the design of service systems?

  • Services are all similar.
  • Services businesses are inherently entrepreneurial.
  • Quality work means quality service.
  • Services cannot be inventoried.

12. Considering Hau Lee's uncertainty framework for classifying supply chains, which of the following is given to a supply chain which has an evolving supply process based on functional products?

  • Risk hedging
  • Forward looking
  • Efficient
  • Agile

13. There are many applications of poka-yokes in service organizations. Which of the following is one of the three-T's used to classify poka-yokes?

  • Trust
  • Teamwork
  • Task
  • Time

14. Which of the following is a major factor that distinguishes service design and development from manufacturing design and development?

  • The service package has the same legal protection available to manufactured goods.
  • Manufacturing is far more capital intensive than services.
  • The service process and service product can be developed independently.
  • The service package is the major output of the development process.

15. A project can be segmented into which of the following?

  • Events
  • Sub-jobs
  • Work packages
  • Success markers

16. Which of the following is a cost impact and payoff analysis tool from the operations consulting tool kit?

  • Statistical tools
  • Decision trees
  • Work sampling
  • Gap analysis

17. According to the theory of constraints, which of the following can be a capacity-constrained resource (CCR)?

  • Product design
  • Inoperable equipment
  • An employee
  • A customer

18. The ability to rapidly and inexpensively switch production from one product to another enables which of the following:

  • Economies of shape
  • Economies of size
  • Economies of scale
  • Economies of scope

19. According to the theory of constraints, which of the following financial measurements can be used to measure the firm's ability to make money?

  • Operating expenses
  • Dividends
  • Sales
  • Return on investment

20. Deming's PDCA (plan, do, check, and act) cycle underlies what inherent Six Sigma principle?

  • Continuous improvement
  • Control charting
  • Standard deviation
  • Project management

21. Which of the following is usually included as an inventory holding cost?

  • Order placing
  • Quantity discounts
  • Breakage
  • Typing up an order

22. Which production process term best describes the situation when activities in a stage of production must stop because there is no work?

  • Blocking
  • Starving
  • Staging
  • Buffering

23. In a Gantt chart the vertical axis represents which of the following?

  • Time
  • Revenue
  • Tasks
  • Cost

24. The Shingo system states that the way to prevent defects from coming out at the end of a process is to do which of the following:

  • Redesign the process in order to mitigate the bottlenecks.
  • Utilize SQC (statistical quality control).
  • Introduce controls within the process.
  • Slow down production rates until the process is in control.

25. Which of the following terms describes the time a unit spends actually being worked on together with the time spent waiting in a queue?

  • Flow time
  • Build time
  • Cycle time
  • Run time

26. Which of the following is one of Dr. Eli Goldratt's rules of production scheduling for optimized production technology?

  • An hour saved at a bottleneck operation does not increase the process flow.
  • If you lose an hour at a bottleneck it is better than making scrap.
  • Do not allow bottlenecks to govern the flow of the line.
  • Utilization and activation of a resource are not the same.

27. During the implementation of a project, which of the following should be the primary focus of a consulting firm?

  • The correct project software
  • Application of the learning curve theory
  • Tools and materials availability
  • People management skills

28. Which of the following is an analytical tool used in Six-Sigma quality improvement programs?

  • Gantt charts
  • Pareto charts
  • Tree charts
  • Pedigree charts

29. A project manager must consider several components when overseeing the planning process of aggregate operations; specifically, whether such components are factors that are internal or external to the organization. Which of the following factors would be classified as an internal component for an organization?

  • Inventory levels and economic conditions
  • Market demand and subcontractor capacity
  • Current physical capacity and current workforce
  • Competitor behavior and current workforce

30. Which of the following is the net requirement using an MRP program if the gross requirement is 10,000 and the inventory on hand is 4,000?

  • 10,000
  • 14,000
  • 6,000
  • 4,000

Reference no: EM13790257

Questions Cloud

Identify situation in your life when speech ethics involved : Identify a situation in your life when an issue related to speech ethics was involved. The issue could have affected you as a speaker or a listener.
Amount of dividends to distributed to preffered shareholders : McBean Company has outstanding 18 million shares of $3 par value common stock and 1.8 million shares of $5 par value preferred stock. The preferred stock has a 8% dividend rate. The company declares $10,800,000 in total dividends for the year. Prefer..
Legal and ethical issues of a medical error case : Summarize the legal aspects of this case. Identify the laws that were, or may have been, broken. Who was, or may have been, liable?
Examine how the evidence showed : Examine how the evidence showed-when there were no eyewitnesses-that the defen-dant was the one who killed the 12 patients.2. Discuss the processes hospitals should imple-ment to prevent such occurrences (e.g., hiring practices and background chec..
Major process flow structure : 1.Which of the following is considered a major process flow structure?
Prepare stockholders equity section of the balance sheet : Horton Company began business on January 1, 2014 by issuing all of its 1,200,000 authorized shares of its $2 par value common stock for $23 per share. On June 30, they declared a cash dividend of $1.75 per share to stockholders of record on July 31. ..
Professional manner by subtracting the discount : On December 1, 2012, Cardinal Company, a garden retailer, purchased $20,000 of corn seed, terms 2/10, n/30, from Iowa Farm Company. Even though the discount period had expired, Sandi Kurtz subtracted the discount of $400 when she processed the docume..
Develop a presentation on the virtual workplace : Develop a presentation on The virtual workplace. This presentation requires considerable research and skillful use of persuasion methods.
Explain corrective action phase of the project life cycle : The monitoring and corrective action phase of the project life cycle involves looking forward at the work ahead.

Reviews

Write a Review

Finance Basics Questions & Answers

  Compute the future value in year

Compute the future value in year 8 of a $2,600 deposit in year 1 and another $2,100 deposit at the end of year 3 using a 10 percent interest rate. (Do not round intermediate calculations and round your final answer to 2 decimal places.)

  Invasions of privacy and consumer manipulation

Some consumer groups believe that this information can lead to invasions of privacy and consumer manipulation. What's your take?

  What is roussakis expected price 5 years from now

E. M. Roussakis Inc.'s stock currently sells for $45 per share. The stock's dividend is projected to increase at a constant rate of 4% per year. The required rate of return on the stock, rs, is 15.50%. What is Roussakis' expected price 5 years fro..

  Romano inc has the following data what is the firms cash

romano inc. has the following data. what is the firms cash conversion cycle?inventory conversion period 38 daysaverage

  What forces exist that encourage unethical accounting

what forces exist that encourage unethical accounting practices? what justification do you think accountants use for

  What is the standard deviation of the returns

A security has the following expected returns and probabilities of occurrence.

  Creating own dividend policy erik own 2000000 shares of

creating own dividend policy. erik own 2000000 shares of wiseguy entertainment. wiseguy just declared a cash dividend

  Plot the current yield curve from the interest rates of u.s

Plot the current yield curve from the interest rates of U.S. Treasury securities as found in WSJ or IBD, or examine the chart WSJ or IBD provides. Do not send the curve, but do describe and define it (Normal or Inverted).

  Calculate the expected rate of return for each portfolio

during a 5-year period the relevant results for the aggregate market are that the rfrisk-free rate is 8 percent and the

  Use the internet to research two publically held health

use the internet to research two publically held health care organizations in your state that you believe would benefit

  A firm has an interval measure of 48 this means that the

1. an increase in current liabilites will have which one of the following effects all else held constant? assume all

  What is the implied value of the warrants attached

Neubert also has outstanding $1,000 par value 15-year straight debt with a 7% coupon paid annually, also trading for $1,000. What is the implied value of the warrants attached to each bond?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd