Yield management works best when demand is highly variable

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Reference no: EM133320416

Questions

1. Buying food at a large food store with multiple checkout counters features which type of queuing?

a. Single channel single phase

b. Multi server single stage

c. None of the options given

d. Single server multiple stage

e. Multi-server multistage

f. Mixed or hybrid

2. The "Level Strategy" provides for workforce continuity and avoids costs associated with "Chase Strategy"

True

False

3. Short term planning focuses mainly on scheduling production and shipment orders while strategic planning deals with long term aspects of the production system capacities.

True

False

4. Sales forecasts are the first step in forecasting financial requirements and are a science and an art untitself.

True

False

5. Which of the following is an example of infinite population in an operating system?

a. Five machines that are repaired in a workshop

b. People waiting tpurchase fuel at a service station and Taxpayers calling the GRA for assistance only

c. None of the options given

d. Taxpayers calling the GRA for assistance

e. People waiting tpurchase fuel at a service station

f. Patients at a doctor's clinic in a private hospital

g. People waiting in line at a teller's window at a bank

6. The marks of a good layout for face-to-face services include the ratiof sales volume tcapacity.

True

False

7. Which of the following is NOT a direct objective of Aggregate Planning?

a. Improve Labour and Industrial Relations

b. Stabilize Production Rate

c. Lower Inventory

d. Provide Better Customer Service

e. Shorten Customer Lead Time

8. Linear programming is used in Aggregate Planning if the cost and variable relationships are linear.

True

False

9. The Capacity Level selected in production/operations Management may directly impact a firm in the following ways except:

a. None of the options given

b. Response Rate

c. Accounting Information Systems

d. Cost Structure

e. Inventory Policies

10. The cost trade off decision in waiting line is straightforward and within the control of the system management.

True

False

11. The top Down and Bottom Up approaches can both be used in advertising and promotional strategies.

True

False

12. With respect tthe relevant costs in aggregate production planning, cost expediting and loss of sales revenue are associated with?

a. Back ordering costs

b. Changes in the production rate

c. Inventory holding costs

d. Basic production costs

13. As capacity utilization of a service increases, service quality increases.

True

False

14. Yield management works best when demand is highly variable.

True

False

15. A perfect forecast is obtained when using both quantitative and qualitative methods of forecasting.

True

False

16. The rules selected in a waiting line have neffect on a system's overall performance.

True

False

17. A company's strategic plan must be separated from its business plans and its sales and operations processes.

True

False

18. The method of inventory valuation for income statements and balance sheets has a major impact on profitability measurement.

True

False

19. Which of the following model is computer-based and allows the forecaster tmake assumptions about internal and external variables?

a. Regression

b. None of the options given

c. Economic

d. Simulation

e. Input Output

20. The model(s) one chooses in forecasting depends on the following except

a. Degree of accuracy required

b. Data availability

c. The time horizon

d. Availability of qualified personnel

e. Size of the budget

f. None of the options given

21. Aggregate planning is merely tachieve the optimal balance between supply and demand at the aggregate level, and not at the individual product level

True

False

22. Aggregate planning involves all of the following activities except:

a. Sales and operations planning

b. Finance and product development

c. Scheduling and material requirements planning

d. Scheduling and material requirements planning and Finance and product development.

e. None of the options given

f. Forecasting and demand management

23. In which production planning strategy is the production rate matched tthe order rate by applying flexible schedules?

a. Stable workforce - variable work hours

b. All of the options given

c. Chase Strategy

d. Level Strategy

24. Subcontracting is a strategy used in production and is similar tthe Chase Strategy.

True

False

25. The determination of expected demand is the focus of forecasting and demand management.

True

False

Reference no: EM133320416

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