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MGT 366, Exam 2 GVSU Questions with Answers.
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MGT 366, Exam 2 GVSU Questions withAnswers.
Aggregate planning - Correct Answer Intermediate-range capacity planning that
typically covers a time horizon of 2 to 18 months
Generally involves the production plan for a group or a family of products and over
months or quarters rather than days or weeks - Correct Answer Why the term
"aggregate plan" instead of medium range production plan?
-Maintain a certain amount of excess capacity to handle increases in
demand
-Maintain a degree of flexibility in dealing with changes. For example, hiring temporary
workers or using overtime and/or subcontractors - Correct Answer Strategies to counter
variation
Yes - Correct Answer Should you wait as long as possible before committing to a
certain level of supply capacity when dealing with variation?
Yes - Correct Answer When dealing with variation should you schedule products or
services with known demands first and wait to schedule other products until their
demands become less uncertain?
demand quantity and timing of demand - Correct Answer Aggregate planners are
concerned with the ______ ________ and ______ ______
True - Correct Answer True or false? Even if demand and capacity are approximately
equal, planners still often have to deal with uneven demand within the planning period
Pricing - Correct Answer Used to shift demand from peak to off-peak periods
Promotion - Correct Answer Advertising and other forms of promotion
Back orders - Correct Answer Orders are taken in one period and deliveries promised
for a later period
pricing, promotion, back orders, new demand - Correct Answer 4 demand options
Level capacity strategy - Correct Answer Maintaining a steady rate of regular-time
output while meeting variations in demand
Inventories, overtime, part-time workers, subcontracting,
, and back orders - Correct Answer Level capacity strategy is maintaining a steady rate of
regular-time output while meeting variations in demand. Using a combination of options
such as..?
Chase demand strategy - Correct Answer Matching capacity to demand; the planned
output for a period is set at the expected demand for that period
backorders / inventory / exceeds - Correct Answer Chase demand strategy: No
__________ and no _________ are created. If demand _______ regular-time output,
use overtime, part-time workers and subcontracting
Yield management - Correct Answer An approach to maximizing revenue by using a
strategy of variable pricing; prices are set
relative to capacity availability
Airlines, restaurants, hotels - Correct Answer 3 users of yield management include
low / higher - Correct Answer Yield management: During periods of ___ demand, price
discounts are offered. During periods of peak demand, ______ prices are charged.
Master schedule - Correct Answer -Shows quantity and timing of specific end items for
a scheduled horizon.
-The results of dis-aggregating an aggregate plan
Time fences - Correct Answer Attempts to balance stability in production plan against
the ability to respond quickly to new orders
Master schedule - Correct Answer One of three primary inputs in MRP; states which
end items are to be produced, when these are needed, and in what quantities
cumulative lead time - Correct Answer The master schedule should cover a period that
is at least equivalent to
the __________ ____ ____
cumulative lead time - Correct Answer The sum of the lead times that sequential phases
of a process require, from ordering of parts or raw materials to completion of
the final assembly
low-level coding - Correct Answer -Restructuring the bill of materials so that multiple
occurrences of a component all coincide with the lowest level at which the component
occurs
-USE IF AN ITEM HAS 2+ PARENTS
Lot Sizing Rules - Correct Answer Determination of Lot Size to Order or to
Produce
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