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SMC (Economics Finance) FINAL REVISION STUDY QUESTIONS AND ANSWERS.
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SMC (Economics Finance) FINAL REVISION STUDY QUESTIONS AND ANSWERS.
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SMC (Economics Finance) FINALREVISION STUDY QUESTIONS AND
ANSWERS.
1) Which of the following statements regarding lot-sizing is TRUE?
A) EOQ principles should be followed whenever economical.
B) Too much concern with lot-sizing results in false accuracy.
C) Lot-for-lot cannot be modified for scrap allowance or process
constraints.
D) The Wagner-Whitin algorithm simplifies lot size calculations.
E) All of the above are true.
Verified Answer -b
2) Which MRP lot-sizing technique should be considered to be the goal
(i.e., the technique of choice under ideal conditions)?
A) Wagner-Whitin
B) EOQ
C) lot-for-lot
D) POQ
E) Silver-Meal
Verified Answer -c
3) If a load report (resource requirements profile) shows a work center
scheduled beyond capacity:
A) the company must add capacity by enlarging the facility.
B) the company must add capacity by such tactics as overtime and
subcontracting.
C) the work center's load may be smoothed by such tactics as
operations splitting or lot splitting.
, D) the aggregate plan must be revised.
E) the Wagner-Whitin algorithm should be used to rebalance the
load.
Verified Answer -c
4) MRP II is accurately described as:
A) MRP software designed for services.
B) MRP with a new set of computer programs that execute on
microcomputers.
C) material resource planning.
D) an enhancement of MRP that plans for all levels of the supply
chain.
E) a new generation of MRP software that extends MRP to planning
and scheduling functions.
Verified Answer -c
5) DRP is a time-phased stock-replenishment plan for all levels of a
distribution network.
Verified Answer -t
6) Distribution resource planning (DRP) is:
A) a transportation plan to ship materials to warehouses.
B) a time-phased stock replenishment plan for all levels of a
distribution network.
C) a shipping plan from a central warehouse to retail warehouses.
D) material requirements planning with a feedback loop from
distribution centers.
E) a material requirements planning package used exclusively by
warehouses.
Verified Answer -b
,7) Enterprise resource planning (ERP):
A) seldom requires software upgrade or enhancement.
B) does not integrate well with functional areas other than
operations.
C) is inexpensive to implement.
D) automates and integrates the majority of business processes.
E) all of the above
Verified Answer -d
8) Which of the following is FALSE concerning enterprise resource
planning (ERP)?
A) It attempts to automate and integrate the majority of business
processes.
B) It shares common data and practices across the enterprise.
C) It is inexpensive to implement.
D) It provides and accesses information in a real-time
environment.
E) ERP software promises reduced transaction costs.
Verified Answer -c
9) Demand for a given item is said to be dependent if:
A) it originates from the external customer.
B) there is a deep bill of material.
C) the finished products are mostly services (rather than goods).
D) there is a clearly identifiable parent.
E) the item has several children.
Verified Answer -d
, 10) Delta uses mathematical short-term scheduling techniques and
a high-tech nerve center to manage the rapid rescheduling necessary
to cope with weather delays and similar disruptions.
Verified Answer -t
11) Which of the following statements regarding scheduling at Delta
Airlines is FALSE?
A) About one flight in twenty is disrupted by weather events.
B) Schedule changes at one airport have a ripple effect that may
have impacts in many others.
C) Delta's high-tech computer and communications system is
located in Atlanta.
D) Delta's rapid rescheduling uses mathematical scheduling
models.
E) Delta's rapid rescheduling promotes air safety and limits
traveler inconvenience, but has not resulted in money savings
for Delta
Verified Answer -e
12) With forward scheduling, jobs are scheduled as late as possible
within the time allowed by the customer due dates.
Verified Answer -f
13) One criterion for developing effective schedules is minimizing
completion time.
Verified Answer -t
14) The correct sequence from longest to smallest duration
scheduling is:
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