Project #51942 - Operations Management

Question 1 of 24 6.0 Points The following table defines a project. Activity Immediate Predecessors Activity Time A - 5 days B A 9 days C A 8 days D B 6 days E B, C 4 days F E 4 days G D, F 3 days The minimum time required to complete the project is: A. 23 days B. 24 days C. 25 days D. 39 days E. none of the above Reset Selection Question 2 of 24 4.0 Points Use the network given in the Word file in the Final Examination Session under Course Content. The early start time (ES) for job G is: A. 13 B. 16 C. 21 D. 25 E. 38 Reset Selection Question 3 of 24 5.0 Points Use the network given in the Word file in the Final Examination Session under Course Content. The late finish time (LF) for job C is A. 7 B. 14 C. 16 D. 21 E. 22 Reset Selection Question 4 of 24 5.0 Points Use the network given in the Word file in the Final Examination Session under Course Content. The critical path is given by: A. A → B → E → H B. A → B → F → H C. A → B → F → G → H D. A → D → G → H E. A → C → F → G → H Reset Selection Question 5 of 24 4.0 Points Use the network given in the Word file in the Final Examination Session under Course Content. The minimum time required to complete the project is: A. 23 days B. 24 days C. 29 days D. 31 days E. none of the above Reset Selection Question 6 of 24 5.0 Points Use the network given in the Word file in the Final Examination Session under Course Content. The slack at activity D is: A. 0 B. 7 C. 8 D. 13 E. None of the above Reset Selection Question 7 of 24 4.0 Points One part of a PERT project, installing equipment, will most likely be completed in 6 days. However, if there are no worker absences, the equipment can be installed in 3 days. If a member of the work force happens to catch Bubonic Flu, this year's disease, the installation will take 15 days. What is the expected time (te ) for the equipment installation? A. 3 days B. 6 days C. 7 days D. 8 days E. 15 days Reset Selection Question 8 of 24 6.0 Points A firm desires to control inventory levels so as to minimize the sum of holding and order costs. It costs the firm $50 to place an order. The firm estimates its annual carrying charge is 20%. Weekly demand is 100 units, and there are 50 weeks in the work year. The item costs $10 per unit. The lead-time for the product is 3 weeks. Assume that there are 5 working days per week. What quantity of items should the firm order each time so as to minimize total inventory costs, i.e., what is the EOQ? A. 100 B. 224 C. 500 D. 1000 E. none of the above Reset Selection Question 9 of 24 4.0 Points Using the data of Question 8: If 400 units are ordered each time (i.e., EOQ = 400), then what will be the total carrying cost per year? A. $100 B. $200 C. $400 D. $800 E. $4000 Reset Selection Question 10 of 24 3.0 Points Using the data of Question 8: If 200 units are ordered each time, how many orders will be placed in a year? A. 2 B. 5 C. 10 D. 20 E. 25 Reset Selection Question 11 of 24 4.0 Points Using the data of Question 8: If 200 units are ordered each time, then the time between orders (in working days) is A. 2 B. 5 C. 10 D. 20 E. 25 Reset Selection Question 12 of 24 3.0 Points Using the data of Question 8: If 1000 are ordered each time, then what will be the total ordering cost per year? A. $50 B. $100 C. $200 D. $250 E. $300 Reset Selection Question 13 of 24 3.0 Points Use the data of Question 8 and assume no safety stock or service level requirement. In order not to run out of stock before the receipt of a new order, at what inventory level should the firm place an order? That is, what is the reorder point equal to? A. 50 B. 160 C. 200 D. 300 E. 400 Reset Selection Question 14 of 24 4.0 Points Given that unit cost = $25, annual carrying charge = 10%, annual demand = 7500 units and ordering cost = $15 per order. Assume that there are 50 weeks in the work year and 5 working days per week. The lead-time for the product is 2 weeks. The EOQ is: A. 150 units B. 212.13 units C. 300 units D. 500 units E. none of the above Reset Selection Question 15 of 24 2.0 Points Lincoln Machine Tool Company maintains an inventory pool consisting of 10 items. Each of these items has a unique demand pattern and may require a different kind of inventory management system. The annual demand pattern and the unit cost of these items are given in the following table. Classify the items in A, B, and C categories according to annual dollar usage. Item Type Annual Usage in thousands Unit Cost in Dollars Item 1 10 $2.50 Item 2 30 $1.25 Item 3 20 $16.00 Item 4 10 $0.75 Item 5 20 $3.00 Item 6 30 $2.50 Item 7 60 $14.25 Item 8 22 $10.00 Item 9 100 $2.75 Item 10 300 $4.25 Using the above data, Item 7 will be classified as: A. A item B. B item C. C item D. None of the above Reset Selection Question 16 of 24 3.0 Points Lincoln Machine Tool Company maintains an inventory pool consisting of 10 items. Each of these items has a unique demand pattern and may require a different kind of inventory management system. The annual demand pattern and the unit cost of these items are given in the following table. Classify the items in A, B, and C categories according to annual dollar usage. Item Type Annual Usage in thousands Unit Cost in Dollars Item 1 10 $2.50 Item 2 30 $1.25 Item 3 20 $16.00 Item 4 10 $0.75 Item 5 20 $3.00 Item 6 30 $2.50 Item 7 60 $14.25 Item 8 22 $10.00 Item 9 100 $2.75 Item 10 300 $4.25 Using the above data, Item 8 will be classified as: A. A item B. B item C. C item D. None of the above Reset Selection Question 17 of 24 3.0 Points Lincoln Machine Tool Company maintains an inventory pool consisting of 10 items. Each of these items has a unique demand pattern and may require a different kind of inventory management system. The annual demand pattern and the unit cost of these items are given in the following table. Classify the items in A, B, and C categories according to annual dollar usage. Item Type Annual Usage in thousands Unit Cost in Dollars Item 1 10 $2.50 Item 2 30 $1.25 Item 3 20 $16.00 Item 4 10 $0.75 Item 5 20 $3.00 Item 6 30 $2.50 Item 7 60 $14.25 Item 8 22 $10.00 Item 9 100 $2.75 Item 10 300 $4.25 Using the data of Question 15, Item 6 will be classified as: A. A item B. B item C. C item D. None of the above Reset Selection Question 18 of 24 6.0 Points One end item A requires three component parts: B, C, and D. The bill of material indicates that for each completed A, 3 units of B, 2 units of C, and 1 unit of D are required. Current inventory for the four items is as follows: There are 22 As, 40 Bs, 50 Cs and 35 Ds in stock. If the lead time for all items is one week and there are no scheduled receipts for any item, how many units of product A can be delivered to customers at the start of next week (week 2)? A. 35 B. 31 C. 25 D. 13 E. None of the above Reset Selection Question 19 of 24 3.0 Points Product D has gross requirements, on-hand inventory, and scheduled receipts as indicated in the time-phased inventory status record below. Its lead time is 3 weeks. Item D 1 2 3 4 5 6 Gross Requirements 100 300 100 300 200 50 On Hand/ Scheduled Receipts 700 Net Requirements A Planned Order Releases B The value of entry A is: A. 100 B. 200 C. 300 D. 700 E. None of the above. Reset Selection Question 20 of 24 4.0 Points Product D has gross requirements, on-hand inventory, and scheduled receipts as indicated in the time-phased inventory status record below. Its lead time is 3 weeks. Item D 1 2 3 4 5 6 Gross Requirements 100 300 100 300 200 50 On Hand/ Scheduled Receipts 700 Net Requirements A Planned Order Releases B The value of entry B is: A. 50 B. 300 C. 250 D. 200 E. None of the above Reset Selection Question 21 of 24 3.0 Points Use the BOM given in the Word file in the Final Examination Session under Course Content. If the master schedule calls for the production of 50 units of A, how many units of E are needed? A. 50 B. 100 C. 200 D. 400 E. None of the above Reset Selection Question 22 of 24 5.0 Points Use the BOM given in the Word file in the Final Examination Session under Course Content. If the MPS calls for the production of 50 units of item A, how many units of item D are needed? A. 200 B. 300 C. 400 D. 500 E. None of the above Reset Selection Question 23 of 24 7.0 Points Use the BOM given in the Word file in the Final Examination Session under Course Content Now assume that 50 units of item A are called for by the MPS. On-hand inventory consists of 20 units each of items A, B, D and E. What is the net requirement for item D? A. 220 B. 160 C. 120 D. 100 E. None of the above Reset Selection Question 24 of 24 4.0 Points The master production schedule for two products, A and B, is shown below. To manufacture item A, four (4) units of component C are required. To manufacture item B, three (3) units of component C are required. Using this information, determine the gross requirements for component C to start week 1. Master Production Schedule: Week 1 Product A 30 Product B 25 A. 195 B. 220 C. 155 D. 190 E. None of the above Reset Selection

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