Finals

Question 1

Determine the expected payoff of each alternative and choose the alternative that has the best expected payoff

Answer 1

Expected monetary Evaluation criterion

Question 2

What are the three primary strategies?

Answer 2

• Leading
• Following
• tracking

Question 3

Give only ONE example of decision process

Answer 3

• identify the problem
• specify the objectives and criteria for solution
• develop a suitable alternative
• analyze and compare alternative
• select the best alternative
• implement the solution
• monitor to see that the desired result is achieved

Question 4

What are the 3 Decision Environment?

Answer 4

certainty
risk
uncertainty

Question 5

Give the formula of Expected Value of Perfect

Answer 5

Expected Value of Perfect Information (EVPI) = Expected Payoff Under Certainty – Expected Payoff Under Risk

Question 6

What is the application of scientific knowledge to the development and improvement of goods and services?

Answer 6

Technology

Question 7

What is the machinery that has sensing and control devices that enable it to operate automatically?

Answer 7

Automation

Question 8

What is the science and use of computers and other electronic equipment to: store, process, and send information?

Answer 8

Information Technology

Question 9

What is an arrangement of different aspects to maintain the management’s appropriate manner as to achieve desired production results?

Answer 9

Facility layout

Question 10

It is the deciding on the way the production of goods or services will be organized?

Answer 10

Process selection

Question 11

What is used to achieve a smooth and rapid flow of large volumes of goods through a system?

Answer 11

Product layout

Question 12

What is designed to process items or provide services that involve a variety of processing requirements?

Answer 12

Process layout

Question 13

What are used when size, fragility, cost, or other factors make it undesirable or impractical to move a product through a system?

Answer 13

Fixed Position Layouts

Question 14

Give the two key questions for process selection.

Answer 14

1. How much variety will the process need to be able to handle?
2. How much volume will the process need to be able to handle?

Question 15

Give 3 reasons for redesigning of layout

Answer 15

• Inefficient operations
• Accidents or Safety Hazard
• Changes in design of product or services
• Introduction of new products and services
• Changes in volume of output
• Changes in environmental or legal requirements
• Changes in methods or equipment
• Changes in morale problems

Question 16

one advantage of product layouts

Answer 16

• A high rate of output
• Low unit cost due to high volume
• Labor specialization, which reduces training costs and time, and results in a wide span of supervision
• Low material handling cost per unit
• A high utilization of labor and equipment
• The establishment of routing and scheduling in the initial design of the system
• Fairly routine accounting, purchasing, and inventory control

Question 17

One advantage of process layouts

Answer 17

• The systems can handle a variety of processing requirements
• The systems are not particularly vulnerable to equipment failure
• General purpose equipment is often less costly than the specialized equipment used in product layouts and is easier and less costly to maintain
• Is it possible to use individual incentive systems

Question 18

Give two basic procedure in method analysis

Answer 18

• Identify the operation to be studied, and gather all pertinent facts about tools, equipment, materials, and so on.
• For existing jobs, discuss the job with the operator and supervisor to get their input.
• Study and document the present method of an existing job using process charts. For new jobs, develop charts based on information about the activities involved.
• Analyze the job.

Question 19

FILL IN THE BLANKS
___(1)____ study is the systematic study of ___2____ motions used to perform operation
___3___ ____4____ is concerned with determining the length of __5__ it should take to complete a job

Answer 19

1. Motion
2. Human
3. Work
4. Measurement
5. Time

Question 20

1. A study that uses permanent record of motion study on films
2. Its role is to provide a plan for the operations to make sure that it uses the provided resources at its best
3. It uses time devices to measure the time required for the work’s completion
4. What is the formula for sample size?
5. What is the formula for observed time
6. What is “a” in the formula for sample size?

Answer 20

Micromotion Study
	Operations Strategy
	Time Study
	n=(ZS/(ax ̄ ))
	OT=  (∑▒X_1 )/n
	Allowance Percentage

Question 21

GIVE 2 plant manufacturing strategy

Answer 21

• Process plant strategy
• General purpose plant strategy
• Product plant strategy
• Market area plan strategy

Question 22

Give 4 factors relating to foreign locations

Answer 22

• GOVERNMENT
• CULTURAL DIFFERENCES
• CUSTOMER PREFERENCES
• LABOR
• RESOURCES
• FINANCIAL
• TECHNOLOGICAL
• MARKET
• SAFETY

Question 23

Give 2 factors in choosing site locations

Answer 23

LAND
TRANSPORTATION
ENVIRONMENTAL/LEGAL

Question 24

Give 2 service and retail factors

Answer 24

• Customer service and security

- Good transportation/Parking facility

Question 25

- when businesses locate near similar businesses

Answer 25

clustering

Question 26

1. Method for locating a distribution center that minimizes distribution cost is called factor rating. 2. General approach to evaluating locations that includes quantitative and qualitative inputs is called location analysis. 3. The volume analysis Technique for evaluating location choices in economic terms is called Location cost profit.

Answer 26

1. False, center of Gravity method 2. False, factor rating 3. True

Question 27

``` 1. Everything is service and retail factor except? A. Good transportation and/or parking facilities B. Customer service and security C. Number of infrastructure available 2. FC stands for? A. Fixed cost B. Variable cost C. Formula cost 3.. Service/retail is _____ focused. A. Revenue B. Cost ```

Answer 27

MULTIPLE CHOICE 1. C 2. A 3. A