ANSWERS MARKED A+
✔✔overstated - ✔✔In a market where prices are decreasing, for a company that uses
the FIFO method of evaluating inventory, the replacement value of products will be:
✔✔Final assembly schedule - ✔✔A schedule of end items to finish the product for
specific customers' orders in a make-to-order or assemble-to-order environment
✔✔Master production schedule - ✔✔The drum in the drum-buffer-rope scheduling
process is used to create the:
✔✔Buffer - ✔✔Refers to materials awaiting further processing
✔✔1. Receipt of PO requisition.
2. Determining the right price.
3. issuing the PO.
4. Receiving and accepting the goods. - ✔✔The purchasing cycle
✔✔Dispatching - ✔✔Earliest job due date is an example of:
✔✔setup cost (Part of order cost) - ✔✔What is needed to compute the EOQ
✔✔Sqr root (2AS)/ic) - ✔✔EOQ
✔✔planning BOM - ✔✔An artificial grouping of items or events in BOM format used to
facilitate production planning
✔✔buffer manager - ✔✔in the theory of constraints planning and control system, the
priority control function is performed by the:
✔✔product family level - ✔✔S&OP is typically performed and what level?
✔✔the pattern changes over time - ✔✔a characteristic of a dynamic demand pattern is
that:
✔✔Capacity Requirements Planning - ✔✔What is most appropriately used to test the
feasibility of the plans generated by material requirements planning?
✔✔Projects - ✔✔The critical chain method would typically be used to manage:
✔✔practical famework - ✔✔The United Nations Global Compact Management Model
defines a:
, ✔✔Rail - ✔✔The carrier has highest fixed costs with what kind of transportation?
✔✔demand time fence - ✔✔The point in time inside which changes to the master
schedule typically must be approved by an authority higher than the master scheduler
✔✔The forecasting method or parameters - ✔✔When bias is detected in a forecast,
what should be changed?
✔✔Periodic Inventory - ✔✔A method of verifying inventory records that primarily
focuses on ensuring that the inventory records accurately represent the value of
inventory.
✔✔Minimize production costs and decreasing inventory investment - ✔✔In a
conventional manufacturing environments, what 2 objectives are in conflict?
✔✔provide the required level of customer service - ✔✔a major objective of materials
management is to:
✔✔production planning and inventory management - ✔✔primary activities of MPC:
✔✔Operational - ✔✔the performance measure that relates to daily work routines, such
as cycle time and utilization
✔✔each workstation must be flexible - ✔✔In process layout, or intermittent
manufacturing,
✔✔seasonal variations - ✔✔a characteristic of demand
✔✔random variation from the average demand - ✔✔what causes forecast error?
✔✔the level production strategy - ✔✔what production strategy will build inventory and
avoid the costs of excess capacity?
✔✔the capacity requirements plan - ✔✔The info needed to develop a master schedule
will come from what?
✔✔minimize inventory investment - ✔✔an objective of MRP is to:
✔✔MRP - ✔✔What is the name of the set of priority planning techniques for planning
component items below the end-item level?
✔✔MPS - ✔✔what is a major input to an MRP system?