1. Which of the following best describes the strategic importance of short-term scheduling? A) Effective scheduling‚ through lower costs‚ faster delivery‚ and more dependable schedules‚ can provide a competitive advantage. B) Effective scheduling is a tactical tool for increasing demand to meet production. C) Forward scheduling looks to future demand levels in order to increase customer satisfaction. D) Aggregate planning is a tactical action‚ but short-term scheduling is strategic because of
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cycle of a product. Answer: TRUE 2. A time-series model uses a series of past data points to make the forecast. Answer: TRUE 3. Cycles and random variations are both components of time series. Answer: TRUE 4. One advantage of exponential smoothing is the limited amount of record keeping involved. Answer: TRUE 5. If a forecast is consistently greater than (or less than) actual values‚ the forecast is said to be biased. Answer: TRUE Multiple Choice Questions 1. Forecasts A)
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Economics Ch.1 Limits‚ Alternatives‚ Choices: Opportunity costs: to obtain more of one thing‚ society forgoes the opportunity of getting the next best thing. That sacrifice is the opportunity cost of the choice. Microeconomics: the part of economics concerned with decision making by individual customers‚ workers‚ households‚ and business firms. Macroeconomics: examines either the economy as a whole or its basic subdivisions‚ such as govt‚ household of business sector. Economic Resources:
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Chapter 4: Forecasting Forecasting Steps 1. Determine the use of the forecast 2. Select the item tot be forecasted 3. Determine the time horizon of the forecast 4. Select the forecasting model(s) 5. Gather the data 6. Make the forecast 7. Validate and implement results Forecasting Methods Quantitative Methods: used when situation it “stable” and historical data exists; existing products and current technology are key; involves mathematical techniques; ex: forecasting sales of color
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What is the net result of reducing the duration of a task (crashing) not on the critical path? A. Decreased project overhead costs B. Reduced likelihood of liquidated damages for late delivery C. Increased slack time associated with the task D. Reduction in the project duration 12) The idea of the value density calculation is: A. finding a carrier that can handle the weight B. matching the weight of the product with an appropriate carrier C. deciding where items should
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specified component and then combines the data output into an overall forecasted value. A variety of statistical decomposition methods exist. Simple Exponential Smoothing Unlike decomposition‚ which uses the entire history of a product as the forecast input‚ simple exponential smoothing uses a weighted moving average. Because simple exponential smoothing seeks to reduce‚ or smooth out‚ the irregular patterns in a product over time‚ this forecasting method works best with products whose main component
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| |11. | |Components of Demand |Moving Average | | |Forecasting |What/when to forecast |Exponential Smoothing | | | |Time Series | | |12. |Inventory |Brian’s Dilemma
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OPS FINAL EXAM 1- IS WHEN THE ACTIVITIES IN THE STAGE MUST STOP BECAUSE THERE IS NO PLACE TO DEPOSIT THE ITEM JUST COMPLETED? A- BLOCKING 2- ACCORDING TO YOUR TEXT‚ THE MOST COMMON PROCESS METRIC IS A- UTILIZATION 3- DECLINING PRODUCT PRICES A- INCREASE THE BREAK-EVEN POINT 4- THE TYPE OF PROCESSING STRUCTURE THAT IS USED FOR PRODUCING DISCRETE PRODUCTS AT A CONTROLLED RATE IS A- ASSEMBLY LINE 5- THE BEST PROCESS FLOW STRUCTURE
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mentioned by Doganis (Doganis‚ 2010)‚ Boeing also uses various forecasting methods to predict the market condition for upcoming years. Some of the techniques may be the qualitative models‚ time-series projections (linear and exponential) which include the exponential smoothing of the data collected‚ Econometric or causal methods etc. But the basic philosophy behind the forecasting techniques used by the Boeing is based on economy’s GDP. The measure of air travel‚ Revenue passenger kilometres (RPKs)
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STUDENT IDENTIFICATION NO MULTIMEDIA UNIVERSITY SECOND TRIMESTER FINAL EXAMINATION‚ 2009/2010 SESSION BOM 2O64 – QUALITY AND OPERATIONS MANAGEMENT (All Sections / Groups) DECEMBER 2009 a.m. – a.m. (2 Hours) INSTRUCTIONS TO STUDENT 1. This Question paper consists of 9 pages with TWO SECTIONS. 2. Attempt ALL questions in Section A and B. The marks for each question are given. 3. Answer Section A in the OMR Form provided‚ and answer Section B in the Answer Booklet provided. BOM 2064
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