OPMA 3306 - CHAPTER 8 EXAM
QUESTIONS AND ANSWERS
Medium Range Planning is - Correct Answers -Major operations and supply planning
activities are grouped into categories based on relevant time range of the activity.
Into what time range category does sales and operations planning fit?
Short Range Planning is - Correct Answers -What category of planning covers a period
from a day to six months, with daily or weekly time increments?
The Airline Industry began - Correct Answers -The widespread scientific application of
yield management began within what industry?
Highly Variable demand allows this to be most effective - Correct Answers -Under what
type of demand is yield management most effective?
Chase Strategy is - Correct Answers -a strategy that involves hiring and laying off
employees to match the demand forecast
Mixed Strategy is - Correct Answers -term for complex production strategy that
combines approaches from more than one basic strategy?
Backordering Costs - Correct Answers -One of the four costs relevant to aggregate
production planning (most difficult to accurately measure)
Rate Fences is a basis of justification for - Correct Answers -In a yield management
system, pricing differences must appear logical and justified to the customer. What is
the basis for this justification commonly called?
Demand is managed through - Correct Answers -The essence of yield management is
the ability to manage what?
Safety Stock - Correct Answers -the amount of inventory carried in addition to the
expected demand
- if the lead time for delivery increases, the __________ will need to increase if stockout
risk is to remain unchanged.
QUESTIONS AND ANSWERS
Medium Range Planning is - Correct Answers -Major operations and supply planning
activities are grouped into categories based on relevant time range of the activity.
Into what time range category does sales and operations planning fit?
Short Range Planning is - Correct Answers -What category of planning covers a period
from a day to six months, with daily or weekly time increments?
The Airline Industry began - Correct Answers -The widespread scientific application of
yield management began within what industry?
Highly Variable demand allows this to be most effective - Correct Answers -Under what
type of demand is yield management most effective?
Chase Strategy is - Correct Answers -a strategy that involves hiring and laying off
employees to match the demand forecast
Mixed Strategy is - Correct Answers -term for complex production strategy that
combines approaches from more than one basic strategy?
Backordering Costs - Correct Answers -One of the four costs relevant to aggregate
production planning (most difficult to accurately measure)
Rate Fences is a basis of justification for - Correct Answers -In a yield management
system, pricing differences must appear logical and justified to the customer. What is
the basis for this justification commonly called?
Demand is managed through - Correct Answers -The essence of yield management is
the ability to manage what?
Safety Stock - Correct Answers -the amount of inventory carried in addition to the
expected demand
- if the lead time for delivery increases, the __________ will need to increase if stockout
risk is to remain unchanged.
