Sample_T3_fall__07

Sample_T3_fall__07 - ISDS 3115 fall 07 Sample Test 3 Closed...

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ISDS 3115, fall 07 Sample Test 3 - Closed book, closed notes, formula sheet attached (last pages). - Part I: True/false questions (2 points each) – use SCANTRON please T F 1. For the Delphi method, the experts don’t exchange opinions face to face. T F 2. Costs incurred in hiring, training and laying off personnel are not considered as relevant aggregate operations planning costs. T F 3 A higher safety stock provides a higher risk. T F 4. Continuous review inventory systems typically require a higher safety stock than periodic systems to provide the same service level. T F 5. Reorder point is an inventory level. T F 6. An aggregate plan is more specific (tactical) than a master production schedule . T F 7. A seasonal demand for a finished product is dependent demand. T F 8. Gross requirements for finished products are taken from the MPS. T F 9. For a stable demand small smoothing factor α should be used in exponential smoothing forecast. T F 10. An end item has no parents. T F 11. The EOQ model results higher order quantity for higher inventory holding cost factor. T F 12. The cost of placing an order is usually dependent on the order size T F 13. In MRP, planned order releases on one level generate the gross requirement at the next lower level. T F 14. MRP has the following three main input files: MPS, Planned Orders, and inventory file. T F 15. The chase aggregate plan maintains a constant workforce and produces the same amount of product in each time period. Part II. Multiple choice questions (2 points each) – continue on the SCANTRON, please 16. Which of these items would be most likely to have dependent demand? a. Refrigerators b. Automobile engines c. Televisions d. Toy trains e. Chocolate chip cookies 17. Which of the following is an input of the MRP? A) beginning inventory B) MPS C) lead times D) all of the above E) none of the above 18. In doing “aggregate planning” for a firm producing paint, the aggregate planners would most likely deal with: A) all the different sizes and all the different colors by size B) gallons of paint, but be concerned with the different colors to be produced C) gallons, quarts, pints, and all the different sizes to be produced D) just gallons of paint, without concern for the different colors and sizes E) none of the above 19. Gross requirements for finished products are taken from a. The inventory records file b. The order entry file c. The MPS d. The BOM e.
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