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Exam Question
Optimum inventory level as per EOQ system will increase:
- 1. in direct proportion to increase in holding cost
- 2. inversely with setup cost
- 3. in proportion to square root of demand for the year
- 4. in direct proportion to square root of holding cost
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Exam Question
A good strategy to meet short term overload for a month can be:
- 1. buy a new equipment
- 2. invest in a new project
- 3. subcontract work
- 4. telling marketing that the job cannot be done
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Exam Question
The Master Production Schedule (MPS) is a schedule of:
- 1. weekly production plan for each product according to customer orders and demand forecasts
- 2. aggregate production plan in product groups
- 3. daily production plan for shop floor control
- 4. business activity expressed in money value
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Exam Question
Product structure tree is:
- 1. diagram explaining the features of a product
- 2. used to display the total makeup of a particular product
- 3. is representation of a tree
- 4. identical to decision tree
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Exam Question
For short term periods of up to one year, fundamental capacity is fixed. However, short term
adjustments of capacity are possible by:
- 1. building inventories during slack periods to meet later demand
- 2. subcontracting during slack periods
- 3. building inventories during peak periods to meet demand in slack periods
- 4. wishing that some customers may cancel the order
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Exam Question
Kit numbers are used in MPS:
- 1. when there are many small, loose parts – such as fasteners, nuts and bolts – at level 1 in the product structure
- 2. to identify related items
- 3. to add complexity to planning
- 4. as a quick aid to forecasting
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Exam Question
A firm uses simple exponential smoothing to forecast demand with a = 0.2. The forecast for the month of March was 500 units whereas the actual demand turned out to be 460 units. What is the forecast for the month of April?
- 1. 489.6
- 2. 492
- 3. 480
- 4. 490
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Exam Question
Steel manufacturing is an example of:
- 1. Job manufacturing process
- 2. Continuous manufacturing flow process
- 3. Assembly line process
- 4. None of the above
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Exam Question
Visual Load profile is:
- 1. a graph comparing work loads and capacities on a time scale
- 2. identical to Gantt load chart
- 3. used for forward scheduling process
- 4. used for job sequencing
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Exam Question
Product structure tree is:
- 1. diagram explaining the features of a product
- 2. used to display the total makeup of a particular product
- 3. is representation of a tree
- 4. identical to decision tree
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Exam Question
MRP takes the output from the master schedule, combines that with information from inventory
records and product structure records and determines:
- 1. the volume of production in each period
- 2. the schedule of timing and quantities for each item to get the right materials to the right place at the right time
- 3. closing inventory
- 4. whether customer demand can be met
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Exam Question
Aggregate output planning generally consists of planning a desired output over a period of:
- 1. one week
- 2. five years
- 3. daily
- 4. three months to 1 year
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Exam Question
Lot-for-Lot technique in MRP yields:
- 1. high holding cost
- 2. low setup cost
- 3. zero holding cost
- 4. zero setup cost
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Exam Question
Capacity is a facility’s productive capability, usually expressed as volume of:
- 1. input in case of automobiles
- 2. output in case of steel producer
- 3. likely business as per marketing
- 4. output in case of hospital
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Exam Question
Infinite loading is:
- 1. assigning jobs to work centers without considering the work center’s capacity
- 2. using Gantt chart for loading
- 3. using visual load profile for showing load
- 4. considering loading of planned orders only
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Exam Question
Pegging is used in MRP system for:
- 1. identifying which components are affected by disruptions in material plans
- 2. pausing the system
- 3. showing old records
- 4. showing current records with updated status
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Exam Question
Final Assembly Schedule can serve as MPS:
- 1. when the number of end products manufactured is small
- 2. when the number of end products is large
- 3. when there is a need to disaggregate
- 4. when M-bills have to be used
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Exam Question
Route sheet used in production planning and control is:
- 1. used to indicate the location of each department
- 2. a document to show the routing of a component, including the work centers and operation times, through its production processes
- 3. a flow process chart used for process change
- 4. a document showing the daily production schedule
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Exam Question
Bias as a measure of forecast error is used to determine:
- 1. The total magnitude of error
- 2. The direction of error
- 3. Absolute value
- 4. Weighted average
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Exam Question
MRP logic uses the following relationships:
- 1. Net requirements = total requirements – available inventory
- 2. Net requirements = scheduled receipts + inventory on hand
- 3. Net requirements = gross requirements – allocations
- 4. Net requirements = gross requirements – on hand inventory
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