100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Quiz 2 - Chapter 2 (Competitiveness, Strategic Planning, and Productivity) & 3 (Demand Forecasting) CA$4.29   Add to cart

Exam (elaborations)

Quiz 2 - Chapter 2 (Competitiveness, Strategic Planning, and Productivity) & 3 (Demand Forecasting)

 305 views  0 purchase

This document concentrates on chapters 3 and 4 of the operations management textbook we were using in the 2019/2020 academic year. This document concentrates on demand forecasting and competitiveness in productivity.

Preview 1 out of 4  pages

  • October 8, 2019
  • 4
  • 2019/2020
  • Exam (elaborations)
  • Questions & answers
book image

Book Title:

Author(s):

  • Edition:
  • ISBN:
  • Edition:
All documents for this subject (2)
avatar-seller
Canadian8

Available practice questions

Flashcards 14 Flashcards
CA$5.01 0 sales

Some examples from this set of practice questions

1.

Which of the following is not a step for formulating an operations strategy?

Answer: A) Link the organizational goals to the operations strategy. B) Conduct an audit to determine strengths/weaknesses of the current operations strategy. C) Define the mission and values of the organization. ✔ D) Assess the degree of focus at each plant. E) Segment the customers into types.

2.

Productivity is expressed as:

Answer: A) Output Input. B) Output - Input. C) Output * input. D) Output/Input. ✔ E) Input/Output.

3.

Which of the following is not a key purchasing criterion?

Answer: A) Price. B) Variety. C) Quality. D) Timeliness. E) Vendor relations. ✔

4.

Time-based strategies do not focus on:

Answer: A) The time to deliver a product. B) Maintaining quality. ✔ C) Planning time. D) Production design time. E) Changeover time.

5.

Canvalves Company produces cast bronze valves on an assembly line. It currently produces 800 valves each 8-hour shift. If the production is increased to 1200 valves each shift, the productivity increased by?

Answer: A) 50%. ✔ B) 33%. C) 25%. D) 67%. E) 75%.

6.

Which of the following is not a major decision-making category for operations policies and action plans?

Answer: A) Facility. B) Capacity. C) Process types and technology. D) HR. ✔ E) Productivity.

7.

Characteristics that customers perceive as min standards of acceptability are called:

Answer: A) Order winners. B) Order qualifiers. ✔ C) Core competencies. D) Distinctive competencies. E) Minimum attributes.

Quiz 2
Q 1: A company has introduced a process improv’t that ↓ processing time for
each unit, so that output is ↑ by 25% w less material, but 1 additional
worker req’d. Under the old process, 5 workers could produce 60u/hr. Labour
costs r $12/hr, & material input was previously $16/unit. 4 the new
process, material is now $10/unit. OH is charged at 1.6 times direct labour
costs. Finished units sell for $31. What ↑ in productivity is associated w
the process improv’t?


Process Output (u) Workers Material Labour OH
cost/hr

Old 60u/hr 5 $16/u $12 1.6 * direct
labour cost

New 75u/hr 6 $10/u $12 1.6 * direct
labour cost


Finished u price = $31.

Multifactor Productivity (MFP) = Total Revenue/Total Costs

Old process = Total Revenue/Total Cost = 60u * $31
----------------------------------- = $1.67
$60 ($60 + $960 + $96)*
*
1 worker/hr = $12 → $12 * 5 workers = $60
$16 material cost/unit * 60u = $960
1.6 OH * direct labour cost = $96

New process = Total Revenue/Total Cost = 75u * $31
----------------------------------- = $2.48
$72 ($72 + $750 + $115.2)**
**
1 worker/hr = $12 → $12 * 6 workers = $72
$10 material cost/unit * 75u = $750
1.6 OH * direct labour cost = $115.2

Cost mgmt is the ↑ in productivity that’s associated w the process improv’t
bc the materials used to produce the units were ↓ed.

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller Canadian8. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for CA$4.29. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

79271 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
CA$4.29
  • (0)
  Add to cart