MGT 393 FINAL EXAM QUESTIONS & ANSWERS
Which function of the firm has the greatest chance in creating a non imitable competitive
advantage, according to Drew?
Finance
Accounting
Supply Chain/Logistics
Marketing - Answer -Supply Chain/Logistics
Eighty percent of revenue come from the top 20% of Hyvee's customers represents
which Principle of Nature - PON?
Recency Effect
Pareto
Law of Large Numbers
Littles law - Answer -Pareto
In process management, ___________ is the time it takes to complete all process steps
from the time of arrival to time of completion, including any wait time.
Cycle time
Throughput time
Queueing
Task time - Answer -Throughput time
In process management, inventory that is no longer raw material but has yet to become
a finished product is called:
banked inventory
Inventory carrying costs
Work in Process (WIP)
Cycle inventory - Answer -Work in Process (WIP)
In Critical Path Management, the Critical Path is the _____ path in the model.
longest
simplest
shortest
most complex - Answer -longest
In Statistical Process Control, Which Bar Chart do we use when we are looking at
dichotomous data?
C-Bar
,P-Bar
R-Bar - Answer -P-Bar
In Statistical Process Control, Which Bar chart do we use when we have categorical
data?
X-Bar
R-Bar
P-Bar
C-Bar - Answer -C-Bar
In the Taguchi Loss Function what is the term for the range of permissible variation?
k constant
tolerance
normal
nominal - Answer -tolerance
In the In-Transit Inventory Carrying Cost (ITICC) Model what is the proxy for a firm's
opportunity cost of outlaying the money for a product but not having the utility of that
product while it is in transit?
cost of alternatives
constraints
cost of capital
demand uncertainty - Answer -cost of capital
The Center of Gravity model at times may give us an optimal solution.
True
False - Answer -False
Drew contends that Intuition and models do not have to agree with one another in
creating a sustainable competitive advantage for the firm.
True
False - Answer -True
In Queueing Theory, Mu and Lambda are derived from:
inferential Statistics
Calculus
Trigonometry
Big Data - Answer -Calculus
, We spoke about several enablers of Industry 4.0. Which is the enabler that can bring
together al of the major players in a transaction along the supply chain in an immutable
ledger?
Machine Learning
Digital twins
Blockchains
AI - Answer -Blockchains
Which enabler of Industry 4.0 has a physical counterpart?
Digital Twin
Machine learning
Blockchain
AI - Answer -Digital Twin
On one of Drew's videos in class he mentioned an experience he had at General
Motors. The firm treated the functional areas of the firm as silos - not really
communicating amongst the various departments. When Sales indicted to the firm that
green Volvos were not selling well, the top management incentivized the sales of the
green cars by offering a steep rebate. More and more of the green cars cleared the
sales lots as a result of this action. Seeing this, Manufacturing painted a greater
percentage of their production cars green thinking green was in. high demand. What
best describes what mistakes were made?
functional areas of the firm disliked one another.
Forecasting demand was too difficult due to Little's La
forecasting demand was too difficult due to bullwhip effect
functional areas did not communicate with one another and were siloed - Answer -
functional areas did not communicate with one another and were siloed
When proposing or considering changes to the supply chain, which functional area of
the firm can best aid in determining costs, payback periods, and the like?
R&D
Manufacturing
Marketing
Finance - Answer -Financial
In the Location Cross Over Model, the first two curves are equal at:
their cross-over point
X2
their beginning
at their end - Answer -their cross-over point
Which function of the firm has the greatest chance in creating a non imitable competitive
advantage, according to Drew?
Finance
Accounting
Supply Chain/Logistics
Marketing - Answer -Supply Chain/Logistics
Eighty percent of revenue come from the top 20% of Hyvee's customers represents
which Principle of Nature - PON?
Recency Effect
Pareto
Law of Large Numbers
Littles law - Answer -Pareto
In process management, ___________ is the time it takes to complete all process steps
from the time of arrival to time of completion, including any wait time.
Cycle time
Throughput time
Queueing
Task time - Answer -Throughput time
In process management, inventory that is no longer raw material but has yet to become
a finished product is called:
banked inventory
Inventory carrying costs
Work in Process (WIP)
Cycle inventory - Answer -Work in Process (WIP)
In Critical Path Management, the Critical Path is the _____ path in the model.
longest
simplest
shortest
most complex - Answer -longest
In Statistical Process Control, Which Bar Chart do we use when we are looking at
dichotomous data?
C-Bar
,P-Bar
R-Bar - Answer -P-Bar
In Statistical Process Control, Which Bar chart do we use when we have categorical
data?
X-Bar
R-Bar
P-Bar
C-Bar - Answer -C-Bar
In the Taguchi Loss Function what is the term for the range of permissible variation?
k constant
tolerance
normal
nominal - Answer -tolerance
In the In-Transit Inventory Carrying Cost (ITICC) Model what is the proxy for a firm's
opportunity cost of outlaying the money for a product but not having the utility of that
product while it is in transit?
cost of alternatives
constraints
cost of capital
demand uncertainty - Answer -cost of capital
The Center of Gravity model at times may give us an optimal solution.
True
False - Answer -False
Drew contends that Intuition and models do not have to agree with one another in
creating a sustainable competitive advantage for the firm.
True
False - Answer -True
In Queueing Theory, Mu and Lambda are derived from:
inferential Statistics
Calculus
Trigonometry
Big Data - Answer -Calculus
, We spoke about several enablers of Industry 4.0. Which is the enabler that can bring
together al of the major players in a transaction along the supply chain in an immutable
ledger?
Machine Learning
Digital twins
Blockchains
AI - Answer -Blockchains
Which enabler of Industry 4.0 has a physical counterpart?
Digital Twin
Machine learning
Blockchain
AI - Answer -Digital Twin
On one of Drew's videos in class he mentioned an experience he had at General
Motors. The firm treated the functional areas of the firm as silos - not really
communicating amongst the various departments. When Sales indicted to the firm that
green Volvos were not selling well, the top management incentivized the sales of the
green cars by offering a steep rebate. More and more of the green cars cleared the
sales lots as a result of this action. Seeing this, Manufacturing painted a greater
percentage of their production cars green thinking green was in. high demand. What
best describes what mistakes were made?
functional areas of the firm disliked one another.
Forecasting demand was too difficult due to Little's La
forecasting demand was too difficult due to bullwhip effect
functional areas did not communicate with one another and were siloed - Answer -
functional areas did not communicate with one another and were siloed
When proposing or considering changes to the supply chain, which functional area of
the firm can best aid in determining costs, payback periods, and the like?
R&D
Manufacturing
Marketing
Finance - Answer -Financial
In the Location Cross Over Model, the first two curves are equal at:
their cross-over point
X2
their beginning
at their end - Answer -their cross-over point
