DEVRY GSCM530 ALL WEEK QUIZES (WEEK 1,2,3,4,5,6 AND 7) - 95160

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Week 1 Question Question 1.1.(TCO 1) Different levels of planning in supply chain operations management include (Points : 5) general and detailed planning strategic, tactical, and operational planning long-term and short-term planning logistical, operational, and procurement planning Question 2.2.(TCO’s 1) Which of the following is a measure common to both the strategic profit model and the SCOR model? (Points : 5) Responsiveness Return on assets Delivery performance Lead time Question 3.3.(TCO 1) The demand for housing is characterized by a regular pattern of increasing to a peak, then falling. When the demand reaches a low point, it then repeats the pattern. This pattern usually takes place over a 3- to 5-year period. This is an example of which type of demand pattern?(Points : 5) Autocorrelation Seasonality and cycles Step change Trend Question 4.4.(TCO 1) For Platinum Nugget Hotel in Las Vegas, Saturday is the best day of the week for business. The gambling take for the hotel on Saturdays over the past 4 weeks was as follows. Week $ Take (1) $250,000 (2) $190,000 (3) $300,000 (4) $280,000 Using a moving average withn= 3 terms, what would be the forecast for Week 5.(Points : 5) $256,667 $246,667 $255,000 $232,124 Question 5.5.(TCO 1) Assume that the forecast for the last period is FITt = 200 units, and recent experience suggests a likely sales increase of 10 units each period. Actual sales for the last period reached 230 units. Assuming a smoothing coefficient of ? = 0.20 and a trend smoothing coefficient of ? = 0.10, what is the BASE forecast for the next period?(Points : 5) 210 206 236 226 Question 6.6.(TCO 1) The tracking signal will suggest to a manager that(Points : 5) demand for an item is changing. there is seasonality in demand a forecast mode's parameters may need adjustment All of the above Week 2 Decisions being made about the aggregate production plans represent what type of planning? Strategic-level planning Tactical planning Detailed operational planning Long-term planning Question 2. 2. (TCO 2) Each month the sales and operations team at Johnson Company meets to develop plans for each of the next 6 months. This process is known as (Points : 5) collaborative planning and forecasting rolling planning horizons unconstrained planning continuous planning Question 3. 3. (TCO 2) If a company strongly prefers that its aggregate output plan be closer to a level plan than a chase plan, this implies that it is concerned about minimizing (Points : 5) inventory carrying costs hiring and layoff costs the cost of subcontracting Both A and C Both B and C Question 4. 4. (TCO 2) Zanda Corp. and Jones Corp. are identical in every way (products produced, costs, demand, etc.) except for one. Zanda uses a level production plan while Jones prefers a chase production plan. Which of the following is most likely to be true? (Points : 5) Jones will have higher investment in plant and equipment Jones will have higher hiring and firing costs Jones will have lower inventory carrying costs All of the above Question 5. 5. (TCO 2) . The following are other critical data. Production cost per unit = $250 Inventory carrying cost per quarter per unit = $10 (based on quarter-ending inventory) Hiring cost per worker = $1,000 Firing cost per worker = $2,000 Beginning number of workers = 10 Each worker can produce 100 units per quarter. Any worker on the staff at the end of the year will not be fired at that time. Given these data, what is the inventory carrying cost of a level plan? (Points : 5) $100,000 $700,000 $70,000 $7,000 Question 6. 6. (TCO 2) You are sitting next to a person in business class on a flight from Los Angeles to Sydney, Australia. You mention to that person that you got your ticket 2 months ago for only $12,500. The person responds that she bought her ticket 2 days ago for $7,800. This sometimes happens because airlines often use an approach called (Points : 5) capacity management yield management load management workforce leveling Week 3 Question 1.1.(TCO 4) MRP is a process that would be most applicable in which situation?(Points : 5) Planning requirements for repair parts for production equipment in a manufacturing plant Planning requirements for safety stocks of finished goods in a distribution center Planning requirements for bicycle seats in a bicycle production plant A and C Question 2.2.(TCO 4) The longest lead time path in the BOM is the(Points : 5) time bucket planning horizon time window cumulative lead time Question 3.3.(TCO 4) A master production schedule shows the following information. Using a lot-for-lot rule, what is the MPS quantity for Period 1?(Points : 5) 90 80 100 40 Question 4.4.(TCO 4) Which of the following is not included in the information about the inventory records file for an item? (Points : 5) Safety stock Preferred order quantity Net requirements Lead time Question 5.5.(TCO 4) The following table shows capacity requirements data for making toys. A load profile would show(Points : 5) load above capacity in Periods 3 and 5 load below capacity in Periods 1 and 3 that load is never exactly equal to capacity in all periods None of the above Question 6.6.(TCO 4) The positioning and replenishment of finished goods inventories at the retail level can be determined using(Points : 5) MRP CRP DRP RFID Week 4 Question 1.1.(TCO 3) A bottleneck activity in a process is generally the activity with(Points : 5) the smallest number of resources devoted to it. the least capacity no delays in front of it the highest cost. Question 2.2.TCO 3) If a company can eliminate all sources of variance in a process, then(Points : 5) it will be able to operate at maximum capacity at all times there will be no constraints in the process continuous improvement will not be necessary None of the above Question 3.3.(TCO 3) Which of the following statements about economies of scale is not true?(Points : 5) One reason economies of scale occur is because fixed costs can be spread over more units of production as output increases One reason economies of scale occur is because employees become more efficient as volume increases. Economy of scale refers to the fact that as volume increases, total cost of production decreases. Economies of scale may not exist at all levels of production Question 4.4.(TCO 5) End item A is made by assembling two parts of B and four parts of C. Part C is made from three parts of D and 2 parts of E. Gross requirements for end item A are 100 units. What is the net requirement for part C?(Points : 5) 70 units 200 units 125 units 100 units Question 5.5.(TCO 5) The positioning and replenishment of finished goods inventories at the retail level can be determined using(Points : 5) MRP CRP DRP RFID Question 6.6.(TCO 5) Benefits of ERP systems include all of the following except(Points : 5) easy implementation fewer data entry errors more informed business decisions improved customer service Week 5 Question 1.1.(TCO 6) Which of the following are technological factors affecting the success of a project?(Points : 5) Experience and authority of team members Equipment, facilities, and communications systems Organizational structure and reward systems B and C A, B and C Question 2.2.(TCO 6) In the project for Colson Corp. shown in Exhibit 15-1, does any task have slack? If so, how much? Exhibit 15-1 (Points : 5) None of the tasks have slack Task B has 3 days of slack Task C has 4 days of slack Task D has 2 days of slack Task C has 3 days of slack Question 3.3.(TCO 6) The forward pass in a critical path algorithm involves (Points : 5) calculating the late finish and late start for each task. calculating the late finish and the earliest possible start times for each task calculating the earliest possible start and finish times for each task calculating the earliest possible start and late start for each task Question 4.4.(TCO 6) In evaluating time-cost trade-offs, we start by crashing the task on the critical path that(Points:5) has the lowest cost to reduce by one unit of time has the lowest total crash cost can be reduced the most is the longest None of the above Question 5.5.(TCO 6) Given the tasks, estimated durations, and crash costs shown below, what is the total cost of the steps needed to provide the cheapest way to reduce the project length by 3 days? (Points : 5) $2,800 $2,500 $1,100 $2,300 Question 6.6.(TCO 6) Why does project management often involve the management of conflict?(Points : 5) Projects often compete with routine operations and other projects for resources and personnel Project managers are under greater pressures than other managers in a firm Projects are often staffed with personnel who may have greater allegiance to their functional managers than to the project managers A and C Week 6 Question 1.1.(TCO 7) You, as a supply chain analyst, have been approached by the vice president of supply chain operations to come up with a recommendation for improving the throughput time for the manufacture of Widget A. You quickly realize that you need a process map before you proceed. What is the first step you should undertake to map the process? (Points : 5) Draw a detailed schematic of the inputs and outputs of the process in question Identify the desired outcomes of the process Analyze the process and prioritize opportunities for improvement Document the existing process (the "current state" map). Question 2.2.(TCO 7) An activity identified by a question mark is typically a(n)(Points : 5) value-adding activity necessary activity unknown activity None of the above Question 3.3.(TCO 7) The principles of process improvement suggest that an effective, efficient process (Points : 5) maximizes the number of sequential activities and minimizes the number of parallel ones eliminates all non-value-added steps minimizes the number of entry points of a workpiece into the process minimizes reliance on departments outside of manufacturing Question 4.4.(TCO 7) From an operations perspective, companies should strive to(Points : 5) provide customer success to all customers realize that different customer management approaches may be appropriate for different customers. realize that all customers desire close customer success types of relationships never refuse to do business with a customer Question 5.5.(TCO 7) A firm has found that it provides a 90% order fill rate (orders shipped complete) and 90% on-time delivery, 90% of its orders arrive at customers' destination in perfect condition, and 90% of the time all documentation is correct. These are all the elements of a perfect order for this company's customers. What is the best estimate of its perfect order performance?(Points : 5) 90% 60% 0% 66% Question 6.6.(TCO 7) Alpha Company has a performance standard of 97% fill rate. Last month it achieved a 94% fill rate. This is an example of(Points : 5) a knowledge gap a standards gap a performance gap a perception gap Week 7 Question 1.1.(TCO 8) Which of the following is not a role of inventory?(Points : 5) Increasing quality of finished goods Balancing supply and demand Buffering uncertainty in supply or demand Enabling geographical specialization Question 2.2.(TCO 8) Suppose demand is 45 units a month, average inventory is 60 units, and unit cost is $20. What is the annual inventory turnover?(Points : 5) 10 9 0.75 15 Question 3.3.(TCO 8) If beginning inventory is $1,000,000, ending inventory is $1,400,000, sales are $10,000,000, and anticipated sales are $50,000 per day, what is the number of days of supply?(Points : 5) 28 days 70 days 60 days 32 days Question 4.4.(TCO 8) Jones Manufacturing Inc. purchases a component from a Chilean supplier. The demand for that component is exactly 70 units each day. The company is open for business 250 days each year. When the company reorders the product, the lead time from the supplier is exactly 10 days. The product costs $14.00. The company determined that its inventory carrying cost is 20%. The company's order cost is $30.00. If the company decides to order 1,750 units each time it places an order, what will be the total annual cost of this policy? (Do not include the product cost in your answer.)(Points : 5) $1,500 $2,400 $2,750 $3,400 Question 5.5.(TCO 8) Jones Company has calculated that the EOQ for a particular item is 1,000 units. However, Jones does not have enough capital to order that many units each time, so it only orders 250 units at a time. This will result in(Points : 5) higher annual inventory carrying cost than ordering the EOQ quantity lower annual inventory carrying cost than ordering the EOQ quantity lower annual ordering cost than ordering the EOQ quantity This cannot be determined Question 6.6.(TCO 8) A company has average demand of 30 units per day. Lead time from the supplier averages 7 days. Assume that the combined standard deviation of demand during lead time has been calculated and is equal to 20 units. One unit costs $10 and the inventory carrying cost is 25%. What is the reorder point for the company if it decides on a 99% service level?(Points : 5) 243 units 257 units 77 units 210 units
Solution Description

Week 1

Question

Question 1.1.(TCO 1) Different levels of planning in supply chain operations management include (Points : 5)

general and detailed planning

strategic, tactical, and operational planning

long-term and short-term planning

logistical, operational, and procurement planning

Question 2.2.(TCO’s 1) Which of the following is a measure common to both the strategic profit model and the SCOR model? (Points : 5)

Responsiveness

Return on assets

Delivery performance

Lead time

Question 3.3.(TCO 1) The demand for housing is characterized by a regular pattern of increasing to a peak, then falling. When the demand reaches a low point, it then repeats the pattern. This pattern usually takes place over a 3- to 5-year period. This is an example of which type of demand pattern?(Points : 5)

Autocorrelation

Seasonality and cycles

Step change

Trend

Question 4.4.(TCO 1) For Platinum Nugget Hotel in Las Vegas, Saturday is the best day of the week for business. The gambling take for the hotel on Saturdays over the past 4 weeks was as follows.
Week $ Take
(1) $250,000
(2) $190,000
(3) $300,000
(4) $280,000
Using a moving average withn= 3 terms, what would be the forecast for Week 5.(Points : 5)

$256,667

$246,667

$255,000

$232,124

Question 5.5.(TCO 1) Assume that the forecast for the last period is FITt = 200 units, and recent experience suggests a likely sales increase of 10 units each period. Actual sales for the last period reached 230 units. Assuming a smoothing coefficient of ? = 0.20 and a trend smoothing coefficient of ? = 0.10, what is the BASE forecast for the next period?(Points : 5)

210

206

236

226

Question 6.6.(TCO 1) The tracking signal will suggest to a manager that(Points : 5)

demand for an item is changing.
there is seasonality in demand

a forecast mode's parameters may need adjustment

All of the above

Week 2

Decisions being made about the aggregate production plans represent what type of planning?

Strategic-level planning

Tactical planning

Detailed operational planning

Long-term planning

Question 2. 2. (TCO 2) Each month the sales and operations team at Johnson Company meets to develop plans for each of the next 6 months. This process is known as (Points : 5)

collaborative planning and forecasting

rolling planning horizons

unconstrained planning

continuous planning

Question 3. 3. (TCO 2) If a company strongly prefers that its aggregate output plan be closer to a level plan than a chase plan, this implies that it is concerned about minimizing (Points : 5)

inventory carrying costs

hiring and layoff costs

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