Which decision making application involves fixed and variable costs?
Factor Analysis
Break even analysis
NPV analysis
Regression analysis
How many decision alternatives are there in a standard decision table for a problem involving 3 states of nature and 15 payoffs?
3
5
18
none of the others
what is the crash slope for a task with normal time of 10 days, a crash time of 5 days, a normal cost of $1000 and a crash cost of $2000?
1000/day
200/day
400/day
0/day
Which project management model is used for time reduction applications?
Crashing
Regression
Slack
PERT-Cost
Which one of the following multiple time distributions are skewed left?
3, 4, 8
2, 2, 2
5, 8, 9
4, 6, 8
The output distribution for a multiple time estimate project is assumed to be?
Beta
Normal
Constant
Uniform
In an AOA network the nodes represent?
Events
Activities
Down time
In a beta distribution the most likely time is?
Closer to the most pessimistic time
Closer to the most optimistic time
Equal to the expected time
None of the above
Which variance should be used with a project with multiple critical paths?
The smallest variance
The largest variance
The sum of all variances
The average variance
In crashing analysis the crashing cost function is assumed to be?
Non-linear
Linear
Which one of the following multiple time estimates is normally distributed?
1,5,9
3,3,3
2,3,11
Slack is defined as?
LF – LS
Normal time – crash time
LS – ES
LS - EF
Crash time is defined as the?
Minimum time required for a task
Maximum time required for a task
Average slack time
Normal time – slack time
which project mgmt system was developed by dupont in 1957?
CPM
Gantt Chart
Decision Tree
PERT
generally slack mgmt involves the administration of?
Fundraising
non critical path activities
critical path activities
task definitions
in crashing, which activities are generally selected first?
average cost
highest cost
non critical
lowest cost
the distribution of a project task with the time estimate 7,11,19 is?
skewed left
normally distributed
uniformly distributed
skewed right
which DSS is used for determining the optimal minimum cost crashing schedule?
NPV
decision trees
forecasting
which graph shows the sequencing of tasks over time?
flow chart
decision tree
histogram
gantt chart
an activity with a slack of zero is called a _______ activity
critical
earliest start
completed
which one of the following multiple time estimates will have an expected time equal to the most likely time?
7, 10, 12
3,4,8
2,5,11
the output expected time distribution for a multiple time estimate project is assumed to be
beta
uniform
normal
constant
which analytical process is used to determine the optimal way to reduce overall project time?
PERT cost
crashing
slack management
which one of the following statements about gantt charts is true?
shows the scheduling of individual projects over time
evolved from the PERT chart
Developed during WW2
shows a plot of budget over time
Slack is equal to?
LST-LFT
EST-LST
LST-EST
EST+LST
which one of the following statements best describes the critical path?
the sequence of tasks that takes the shortest time to complete
the set of tasks that have more than one predecessor
the sequence of tasks that takes the longest time to complete
the set of tasks that has the lowest total costs
PERT and CRM analysis are used for assessing the?
critical project tasks
shortest time in which a project can be completed
all of the others
resources needed to complete a project
The primary purpose of supply chain management is to?
Link customers
Create exclusive suppliers
Reduce inventory
Synchronize supplier operations
Which one of the following is an input supplier selection using factor analysis?
Factor weights
Supplier characteristics
Suppliers
all others
Which one is not a supply chain operations to financial link?
Percentage defects – Liabilities
Inventory turns – Working capital
Product development time - Revenue
Inventory – Current assets
A responsive supply chain matches best with?
Predictable demand
High product variability
On time delivery
Low inventory levels
Which statement about purchasing role is best?
Focus on delivery dates
Satisfy long term supply needs
Concentrate on tracking orders
Focus on price negotiations
In improving supply chain effectiveness a firm should never?
Implement backward VI
Implement forward VI
Go beyond 1st tier suppliers
Which one of the following DSSs is most likely used in supplier selection?
Net present value
Aggregate planning
Factor analysis
Decision trees
A key step in designing a supply chain consists of linking the internal chain to?
Suppliers and customers
Suppliers only
Customers only
Key suppliers and customers
The metric inventory turns is defined as?
Inventory value divided by annual sales
Inventory multiplied by sales
Annual sales divided by inventory value
Ending monthly inventory
In the Bullwhip phenomena variability ___________ as you move up the supply chain?
Increases
Decreases
Remains constant
An efficient supply chain is best associated with?
High product/service costs
Stable products/services
High inventories
Frequent product/service design changes
Which one of the following is not a step in the acquisition process?
Forecast requirements
Select suppliers
Track orders
none of others
EDI stands for?
Educational decision institute
Electronic decision interchange
Electronic data interchange
Electronic data institute
Which one of the following is a supply chain performance metric?
Information flow lead-time
All of the others
Amount spent of premium freight
Unplanned changeovers
An efficient supply chain would be characterized by?
Product flow
Low capacity cushions
High inventory turns
A firm with a responsive supply chain would best be characterized by?
Product focus
Process focus
Long delivery times
What is the value of inventory for a firm with an inventory turn of 10 and annual cost of sales of $500 million?
$10 million
None of the others
$50 million
$100 million
What are the number of weeks of supply associated with a firm with a cost of sales of $200 and an inventory value of $20 million assuming a 50 week year?
50
20
10
Which one of the following is not a major supply chain decision issue?
Product/service features
Distribution
Location
Inventory
Which DSS used in supplier selection involves performance characteristics and weights?
Break-even analysis
Linear programming
What is an organized approach for improving performance and reducing costs throughout the supply chain.
Vertical integration
Value analysis
Which one of the following represents the most significant source of disruption in an external supply chain?
Forecasting errors
Large inventories
Engineering change orders
Late deliveries
Which one of the following is not a standard AP strategy?
Chasing
Combo
Level
Which one of the following is a proactive AP strategy?
Work force changes
Creative pricing
Overtime
Anticipator inventory
Which AP strategy would be best given large hiring/layoff costs?
random
Typically, under-time is defined as?
Being layoff
Being paid but not working
Similar to overtime
Not being paid but working
Which one of the following AP costs is the most difficult to estimate?
Subcontracting
Hiring
Backorder
Which one of the following is not a reactive aggregate planning option?
Work-force adjustments
Which one of the following is not a typical AP objective?
Minimize inventory
Minimize costs
Minimize facility utilization
Maximize efficiency
Which one of the following functions provides inputs to the AP process?
Marketing
Finance
Human resources
All of the above
Which one of the following is an example of an AP physical constraint?
Production capacity
Backorder levels
Inventory policy
Overtime pay rate
Which one of the following applies best to a level AP strategy?
Change work force levels
Use Inventory
Decrease output to meet demand
) Implement a promotional campaign
The graphical solution to the LP model is limited to?
Two constraints
No more than five constraints
Two variables
More than one variable
Which special LP condition involves no limits on one or more of the decision variables?
Integer solution
Multiple optimal solution
Unbounded solution
Inconsistent solution
Which one of the following is not a standard LP constraint type?
<>
=
=>
<=
Which one of the following sets of constraints are inconsistent?
X1 = 5, X1 >= 3
X1 <= 5, X1 <= 10
X1 >= 4, X2 <= 2
X1 <=5, X1 >= 10
Sensitivity analysis indicates the range of the OF coefficients over which the current solution is?
Infeasible
Suboptimal
Optimal
Typically, which one of the following is the first step in developing a LP model?
Identify variables
Identify constraint types
Perform sensitivity analysis
Construct the objective function
Which one of the following is a special LP solution type?
Multiple optimal solutions
Unbounded
The shadow price associated with constraint with resources remaining is?
Equal to the market price
Equal to the value of the objective function
Zero
A maximization problem must contain at least one?
Greater-than-or-equal-to type constraint
Cost coefficient
Less-than-or-equal-to type constraint
Dummy variable
Which special LP condition involves inconsistent constraints?
Negative solution
Infeasible solution
The optimal values of the variables in a minimization problem with all of the constraints less-than-or-equal-to are?
Ten
Equal to the RHS
Can not be determined
Which one of the following is a typical LP objective?
Maximize manpower utilization
Maximize profits
Which one of the following type of constraints is associated with slack?
>=
In an LP model the optimal solution lies?
Outside the boundary
Inside the boundary
Besides the boundary
On the boundary
Which one of the following is a basic linear programming assumption?
Non-integer solutions
Variable constants
Dependent variables
Non-linear relationships
