California State University Fullerton

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FIN 310 Final Exam Dr. Smith CSU Questions With Complete Solutions

CSUF Fin 310 - Exam #2 Review

Forecast - Answer a prediction of the future Committed orders - Answer customer offer to buy a specific # of units at a specific price Projected on-hand inventory - Answer the expected amount of inventory that will be on hand at the beginning of each time period Master production schedule (MPS) - Answer the result of disaggregating the aggregate plan showing the quantity & timing of specific end items for a scheduled horizon, which often covers about 6-8 weeks ahead *Duti...

which of the following statements is true about goal and plan selection? - Answer managers select goals and plans that are appropriate and feasible The CEO of On Time Shipping has set major profit and expansion targets for the organization to achieve in the next five to ten years. What are these targeting an example of? - Answer strategic goals Which of the following corporate strategies is being employed when a large grocery store purchases a dairy farm to supply all of the store-br...

Sales and operations plan (S&OP) - Answer A time-phased plan of future aggregate resource levels so that supply is in balance with demand. How many of what to sell? Aggregate plan - Answer Another term for the sales and operations plan Production plan - Answer A sales and operations plan for a manufacturing firm that centers on production rates and inventory holdings. Build plan (for top level parts). Staffing plan - Answer A sales and operations plan for a service firm, whi...

Agenda - Answer • Process strategy • Process structure in services • Process structure in manufacturing • Process re-engineering • Process improvement • Process analysis What is Process Strategy? - Answer Process Use of organizations _RESOURCES_ to provide something of _VALUE_ Process Strategy The pattern of _DECISIONS_made in _MANAGING_ so that they will achieve their _COMPETITIVE PRIORITIES_ Process Analysis _DOCUMENTATION__and _DETAILED UNDERSTANDING...

Aggregate Planning - Answer to give management an idea of what quantity of materials to be procured and when Disaggregation - Answer analytic disassembly which have been aggregated (lumped together) Master Production Schedule (MPS) - Answer a timetable that specifies what is to be made and when Rough-cut Capacity Planning - Answer verifies sufficient capacity available to meet requirements for MPS time fences - Answer points in time that separate phases of a master sch...

Centralized purchasing - Answer Purchasing is handled by one special department benefits of centralized purchasing - Answer may be able to obtain lower prices than decentralized units if the higher volume created by combining orders enables it to take advantage of quantity discounts offered on large orders may also be able to obtain better service and closer attention from suppliers often enables companies to assign certain categories of items to specialists, who tend to be more e...

Project - Answer an Interrelated set of activities with a definite starting and ending point, which results in a unique outcome for a specific allocation of resources. Project Management - Answer A systemized, phased approach to defining, organizing, planning, monitoring and controlling projects. Program - Answer An interdependent set of projects that have a common strategic purpose. work breakdown structure (WBS) - Answer A statement of all work that has to be completed. ...