Fall2011Homework3CH11_12_15_16wAnswers - #3 Name...

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Fall 2011 Homework Assignment #3 For the essay questions you must show your work in order to get credit for the question. Name___________________________________ MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. 1) Which of the following is not one of the Seven Wastes? A) overproduction B) assignment C) transportation D) motion E) defective product 1) 2) Concerning relationships with suppliers, which of the following combinations is critical to the success of JIT? A) close relationships with skepticism B) close relationships with trust C) distant relationships with skepticism D) distant relationships with trust E) none of the above 2) 3) In JIT partnerships, suppliers have several concerns. Which of the following is not such a concern? A) producing high enough quality levels B) customers ʹ infrequent engineering changes C) small lot sizes D) desire for diversification E) poor customer scheduling 3) 4) Which of the following is characteristic of lean operations? A) easy, mindless jobs B) specialty workers with no cross - training C) low space requirements D) no supplier partnerships E) long lead times 4) 5) Excess bags of basic commodities such as flour and sugar from a lack of supplier - restaurant JIT partnership represents which of the following wastes? A) defective product B) transportation C) overproduction D) inventory E) queues 5) 6) A disadvantage of the ʺ few suppliers ʺ strategy is A) the high cost of changing partners B) the risk of not being ready for technological change C) the lack of cost savings for customers and suppliers D) possible violations of the Sherman Antitrust Act E) All of the above are disadvantages of the ʺ few suppliers ʺ strategy. 6) 1
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7) Consider a firm with a 2007 net income of $20 million, revenue of $60 million and cost of goods sold of $25 million. If the balance sheet amounts show $2 million of inventory and $500,000 of A) 2.60 B) 0.08 C) 5.20 D) 12.50 E) 4.16 7) 8) ABC analysis divides on - hand inventory into three classes, generally based upon A) annual dollar volume B) item quality C) the number of units on hand D) unit price E) annual demand 8) 9) If demand is not uniform and constant, then stockout risks can be controlled by A) reducing the reorder point B) placing an extra order C) increasing the EOQ D) adding safety stock E) raising the selling price to reduce demand 9) 10) The objective of scheduling is to A) minimize response time B) maximize quality C) prioritize and allocate demand to capacity D) minimize cost E) minimize lead time 10) 11) The scheduling criterion minimize work - in - process inventory A) is identical to the maximize utilization criterion B) is especially useful in problems solved with Johnson ʹ s rule C) results in the smallest flowtime of all scheduling criteria D) uses the average number of jobs in the system as the indicator of the level of inventory E) All of the above are true. 11)
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This note was uploaded on 12/12/2011 for the course OM 301 taught by Professor Naor during the Spring '09 term at George Mason.

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Fall2011Homework3CH11_12_15_16wAnswers - #3 Name...

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