OM 300 Operations Management Spring 2015 Review for Final Exam 1 FINAL Exam OM300 001 002 Final Exam Normal Room Thursday 4 30 3 30 6 00 PM Section 001 Friday 5 1 8 00 AM 10 30 AM Section 002 1 page of notes on 1 side of an 8 1 2 x 11 sheet of paper will be collected 2 pencils Calculator not one on your phone Multiple choice questions 40 Formula Sheet is posted on Blackboard will be included in your test packet 2 Topics Chap 4 Forecasting Chap 12 Inventory Management Chap 10 Job Design Work Measurement Chap 16 JIT Lean 3 Outline Chapter 4 Forecasting Forecasting Steps Forecasting Methods Measures of Forecast Error MAD MSE MAPE TS Time Series Models Na ve MA etc Forecasting Trend and Seasonality HW 4 Chapter 12 Inventory Management Types of inventories Inventory management issues and decisions Cycle Counting Inventory costs Inventory control systems and policies Determining EOQ ROP and SS Periodic Review systems Single Period Newsboy Problem HW Video 5 Chapter 10 Job Design Work Measurement Methods analysis Work measurement Work sampling Developing standard times Number of observations calculations How to use work standard HW Video 6 Chapter 16 JIT Lean Core beliefs of the JIT philosophy Waste in JIT Role of people in JIT Understand functional impact of JIT on all areas Kanban calculation 5S 7 Sample Test Questions Which of the following is not considered to be one of the four basic patterns of time series data a Trend b Seasonality c Cyclical d Vertical 8 Sample Test Questions What are purchased items or extracted materials that will be transformed into components or products called a work in process inventory b finished goods inventory c raw materials inventory d distribution inventory e MRO inventory 9 Consider the demand data listed below What is the 4 month moving Sample Test Questions average forecast for June Month Jan Feb Mar Apr May Actual Demand 10 000 12 000 24 000 8 000 14 000 a 14 000 b Not enough information is given to answer the question c 14 500 d 13 500 e 15 333 10 Sample Test Questions JIT considers waste anything that a Fits in a waste basket b Reduces production capacity c Has been discarded d Cannot be recycled e Does not add value 11 Sample Test Questions For the basic EOQ model what is the formula for the total annual cost a 2Q S DQ H b D Q S Q 2 H c Q D S Q 2 H d DQ S 2Q H e Q D 2 Q 2 S 12 Sample Test Questions If annual demand is 48 000 units orders are placed in quantities of 2000 units at a time and the cost to place an order is 80 what is the annual ordering cost a 1920 b 160 000 c 80 d 4160 e Cannot determine 13 Sample Test Questions Having waiters cook and having the cooks wait on tables is an example of a job enlargement b job rotation c job enrichment d job involvement e job enhancement 14 Sample Test Questions Consider a workstation that can process 4000 units per hour It takes 15 minutes to receive an order from the previous station The container size is 20 units The factory sets safety stock at 20 percent of demand during lead time How many kanbans are needed for the workstation N number of containers a 16 b 3600 c 50 d 10 e 60 Ans N DT S C 4000 15 60 2 4000 15 60 20 60 T lead time from supply station D demand rate at the withdraw station DT C C container size S safety stock N S 15 Sample Test Questions What does work measurement determine a how long it should take to do a job b what is the best way to do a job c who is the best worker d where work should be done e why a particular step must be included in an operation 16 Sample Test Questions What is a technique for estimating the proportion of time an employee or machine spends on different work activities a predetermined time data b time elements c stopwatch time study d work sampling e simultaneous motion study 17 Sample Test Questions The objective of quality at the source is not only to identify a quality problem but also to a Determine its extent b Uncover its root cause c Rate its seriousness d Place blame e Categorize it 18 Office hours during Finals Week 9 2 Monday and Tuesday 9 11 30 Wednesday 9 3 Thursday See you for the final and GOOD LUCK TO ALL 19