Operations Strategy
Exam Review
Course Introduction
Operations Strategy explores the critical role of operations in achieving long-term organizational goals and sustaining competitive advantage. The course examines how companies design and implement operations policies and processes to align with broader business objectives. Topics include capacity planning, process design, supply chain management, innovation, risk management, and the integration of technology into operations. Through case studies and real-world examples, students learn to analyze operational capabilities, assess trade-offs, and formulate strategies that enhance efficiency, quality, and value creation in a dynamic global marketplace.
Recommended Textbook
Operations Management Managing Global Supply Chains 1st Edition by Ray R. Venkataraman
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Page 2
Chapter 1: Introduction to Managing Global Operations and Supply Chains
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Sample Questions
Q1) See the operations profile on Zara.Which of the following is NOT one of the techniques by which Zara is able to get products quickly to the customer?
A)Zara presses and wraps clothing.
B)Zara facilitates the process by which retailers get the products onto shelves and displays.
C)Zara uses express shipping to get products quickly to customers.
D)Zara tags all clothing and puts it on hangers at their distribution centers.
Answer: C
Q2) Which of the following represents the correct pairing of one of the three general types of decisions with regard to the operations and supply chain function with its description?
A)strategic: medium-term decisions
B)tactical: long-term decisions
C)operational: decisions with respect to day-to-day operations
D)functional: decisions with regard to diversification of the firm
Answer: C
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3
Chapter 2: Operations and Supply Chain Strategies
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Q1) The productivity index is the ratio of ______.
A)productivity measured in a particular time period to the productivity measured in a base period
B)productivity measured in a particular firm to the productivity measured for firms in that industry
C)productivity measured in a particular country to the productivity measured for firms in other countries
D)productivity measured in one part of the supply chain to the productivity measured in other parts of the supply chain
Answer: A
Q2) When calculating multifactor productivity,we need to use ______.
A)a homogenous unit of measurement
B)a heterogeneous unit of measurement
C)a statistical unit of measurement
D)a multivariate unit of measurement
Answer: A
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Chapter 3: Project Management
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Sample Questions
Q1) Which of the following is an approach to managing the risk that a contractor may not complete a complex project properly?
A)Require the contractor to operate it for a while to demonstrate everything is functioning as it should.
B)Award the same project to multiple contractors to improve the chances that one of the contractors will successfully finish the project.
C)Guarantee that key employees from the contractor will have high-paying jobs with the primary company on successful completion of the contract.
D)Recruit personnel on behalf of the contractor to ensure that high-quality resources are deployed in the project.
Answer: A
Q2) The term greenwashing refers to ______.
A)a superficial claim to green practices
B)painting objects green as a way to demonstrate commitment to sustainability
C)a genuine commitment to sustainability
D)a genuine commitment to environmental conscientiousness
Answer: A
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Chapter 4: Supplement: Project Management
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Sample Questions
Q1) The slope for each activity gives ______.
A)combinations of times and costs for a project's crash options
B)combinations of scheduled and actual times for a project's crash options
C)both A and B
D)neither A nor B
Q2) If a project is expected to be completed in 68 days with a project variance of 21 days,what is the probability that the project will be completed within 50 days?
A)less than 1%
B)between 5% and 10%
C)between 15% and 30%
D)over 35%
Q3) Which of the following is NOT one of the types of probabilistic estimates used in PERT?
A)optimistic
B)historical
C)most likely
D)pessimistic
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Chapter 5: Product and Service Innovations
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Q1) Which of the following statements is true with regard to the traditional approach to product development?
A)The actual number of steps in the process depends on the type of the product.
B)The actual number of steps in the process is standardized across different companies.
C)The actual number of steps in the process is mandated by the government.
D)The actual number of steps in the process is dictated by ISO.
Q2) Which of the following is LEAST likely to be a mechanism by which supply chain collaboration will have a direct impact on the success of the new product development process?
A)creation of a clear supply chain design
B)multistage quality testing
C)understanding the operating process of each supply chain member
D)understanding the ISO requirements for product development
Q3) In launching a product,it is not particularly helpful if ______.
A)the company describes the technical capabilities and features of the product in its advertising
B)the company describes the features the product in its advertising
C)the company advertises the locations where the product is available
D)the company advertises when the product will be available
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Page 7
Chapter 6: Supplement: Reliability
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Q1) ______ is the ease with which an equipment or system can be repaired or serviced.
A)Availability
B)Maintainability
C)Redundancy
D)Reliability
Q2) Given the failure rate of a component,we can calculate MTBF as ______.
A)the range of the failure rate across many tested components
B)the standard deviation of the failure rate across many tested components
C)the square of the failure rate
D)the reciprocal of the failure rate
Q3) A product consists of three parts.The reliability of these parts are 0.97,0.98,and 0.86.Calculate and indicate product reliability.
A)81.8%
B)73.2%
C)75.2%
D)99.1%
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Page 8
Chapter 7: Managing for Quality
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Sample Questions
Q1) Six Sigma was developed by ______.
A)General Electric
B)Toyota
C)Motorola
D)Nissan
Q2) Process capability is the extent to which ______.
A)a process meets a set of specification limits
B)a process falls within control limits
C)a process does not show a run or pattern
D)a process shows stability
Q3) Which of the following is NOT true regarding Six Sigma?
A)It seeks to improve quality by removing defects.
B)It seeks to improve quality by minimizing process variations.
C)It is a data-driven quality management method.
D)It seeks to improve quality by eliminating waste.
Q4) Which of the following is FALSE with regard to PDSA?
A)It stands for Plan,Do,Study,Act.
B)It represents kaizen.
C)It is known as the Juran Cycle.
D)It is often represented in a circle.
9
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Chapter 8: Quality Improvement and Control Tools
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Q1) The process capability index (Cp)______.
A)is the primary measure used to track process capability
B)shows how well a process is centered between specification limits
C)shows the cost of noncompliance with government regulations
D)shows the cost of noncompliance with ISO requirements
Q2) Which pair of terms fill in the blanks in the statement: The design of experiments help determine which _______ and __________ impact product/process or system performance.
A)Controllable factors,noise factors
B)Special factors,assignable factors
C)Noise factors,assignable factors
D)Controllable factors,signal factors
Q3) In a histogram,meaningful information is provided by ______.
A)the size of the pie chart
B)the color of the pie chart
C)the colors used in the heat map
D)the shape and size of the bars
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Chapter 9: Capacity Planning
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Q1) In capacity planning,working overtime is ______.
A)an example of long-term capacity planning
B)a medium-term decision
C)not ethically permissible
D)against government regulations
Q2) Which of the following statements is true about capacity utilization?
A)It is the extent to which the capacity designed and installed is actually used.
B)It is the capacity required to be utilized to meet market demand.
C)It is calculated by dividing actual output by effective capacity.
D)It is the ratio of design capacity to effective capacity.
Q3) With economies of scale,______.
A)the cost per unit of output decreases as the volume of output increases
B)the cost per unit of output increases as the volume of output decreases
C)the cost per unit of output increases as the volume of output remains constant
D)the cost per unit of output decreases as the volume of output remains constant
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Chapter 10: Supply Chain Design and Location Planning
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Q1) Firms that focus on ______ often locate their facilities in reasonable proximity to the new market that they are planning.
A)accessing materials and resources
B)lowering the firm's cost
C)growing the firm's business
D)developing innovative products
Q2) If customer requirements vary,the firm would need ______.
A)a few large consolidated facilities
B)several smaller localized facilities
C)a few smaller localized facilities
D)several large consolidated facilities
Q3) ______ is a reduction in the value of the currencies.
A)Inflation
B)Deflation
C)Distention
D)Devaluation
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Chapter 11: Process Design and Layout Planning
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Q1) In a push manufacturing system,______.
A)demand is forecast using historical data
B)demand is forecast using future trends
C)production is based on actual customer demand
D)production is based on government regulations
Q2) A push manufacturing system is one in which production is based on ______.
A)forecasted demand or projected sales
B)customer orders
C)number of assemblies (of parts and components)required for a product
D)ISO standards
Q3) Which of the following is true?
A)The volume of WIP is higher in an ATO process supply chain compared to MTO.
B)In an ATO process supply chain,the degree of customization is low.
C)In an ATO process supply chain,the WIP inventory held as buffer is high.
D)In an ATO process supply chain,the POP occurs further downstream than in an MTO process supply chain.
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Chapter
Layouts
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Q1) A value stream map provides a ______ view of the process.
A)static
B)dynamic
C)irregular
D)active
Q2) Which of the following uses graphics to show all activities related to a process,including its inputs and outputs,decision points such as approvals and exceptions,and any cross-functional relationships?
A)Value stream map (VSM)
B)Process simulation
C)Route sheet
D)Process chart
Q3) Balance efficiency is calculated as ______.
A)the product of (Total time used)and (Total time available)
B)the ratio of (Total time used)to (Total time available)
C)the difference between (Total time used)and (Total time available)
D)the sum of (Total time used)and (Total time available)
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Page 14
Chapter 13: Supplier Management
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Sample Questions
Q1) Which of the following is NOT a mitigation strategy for supply risks associated with global supplier management?
A)Establish collaborative relationship with global suppliers.
B)Have a backup pool of suppliers.
C)Limit the use of technology for supplier visibility.
D)Select suppliers whose language and culture can be understood.
Q2) The document that authorizes the supplier to produce,ship the item,and send the invoice to the buyer is called the ______.
A)supplier Invoice
B)purchase order
C)production order
D)delivery order
Q3) In which type of auction does the buyer list an initial lower price and then gradually raise the price until one of the suppliers agrees to that price?
A)English auction
B)Dutch auction
C)sealed-bid first-price auction
D)second-price auction
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15
Chapter 14: Logistics Management
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Q1) To deliver customer orders quickly,a company has to ______.
A)use faster modes for LTL shipments
B)have more distribution centers located closer to supplier locations
C)avoid quality inspections of products after production
D)reduce packaging requirements
Q2) Which of the following is NOT a function of materials handling?
A)short-distance movement (within a plant or warehousing facility)
B)protection of materials (within a plant or warehousing facility)
C)protection of people (within a plant or warehousing facility)
D)long-haul transportation (between plant and warehousing facility)
Q3) Which of the following is NOT one of the basic modes of transportation?
A)air
B)rail
C)wormhole
D)pipeline
Q4) Full truckload shipping (FTL)involves transportation ______.
A)of homogeneous goods
B)that is exemplified by FedEx or UPS
C)that is particularly suitable for liquids (oils,liquid chemicals,etc.)
D)that is highly regulated
Page 16
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Chapter 15: Demand Management and Customer Service
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Q1) Which of the following is FALSE about service recovery?
A)Gather information from customers at the time of service failure so that necessary action can be taken for immediate recovery.
B)Conduct a postrecovery assessment to evaluate the recovery performance against the customer.
C)Service recovery is unaffected by the strength of the relationship between the customer and the organization.
D)Success of service recovery depends on the severity of the failure.
Q2) Which of the following risks do service providers face when they do not accurately predict and manage demand?
A)leveled demand
B)insufficient capacity in the form of busy resources
C)financial risk
D)good customer service
Q3) Which of the following is NOT an example of service failure?
A)late deliveries
B)damaged or lost products
C)incorrect orders
D)promotions
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Page 17
Chapter 16: Demand Forecasting Methods
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Q1) Which of the following statements is false about tracking signals?
A)They monitor whether the forecasts lie around the target.
B)Both actual and forecasted demand values are required to calculate tracking signals.
C)They cannot be used to determine whether or not the demand pattern has changed.
D)They monitor whether the forecasts are consistently too high or low.
Q2) <i>Past behavior of demand is indicative of its future behavior,therefore past demand data can be used to construct demand forecasts.</i>This statement is the underlying principle of the ______ method.
A)causal
B)market research
C)time series analysis
D)Delphi
Q3) Which of the following is a component of trend-adjusted forecast (TAF)?
A)leading indicators
B)seasonal indices
C)trend factors
D)tracking signals
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Chapter 17: Lean Operations and Supply Chains
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Q1) With push systems,______.
A)good planning is necessary
B)there is potential for sustainable operations
C)there is no need to maintain inventory
D)government regulation is minimized
Q2) Group technology (GT)______.
A)addresses the need for product variety
B)facilitates mass consumption
C)increases the cost per unit of product
D)eliminates the need for quality control
Q3) Throughput is ______.
A)measured by the ratio of input to output
B)measured by the ratio of waste to output
C)a measure of how an order moves from receipt to delivery
D)a measure of those orders not regulated by the government
Q4) 3PL is associated with ______.
A)improving the efficiency of product flows
B)requiring the manufacturer to focus on its core competencies
C)improving the quality of manufactured products
D)the service industry only
19
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Chapter 18: Inventory Management
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Q1) Tangible stock-out costs include ______.
A)permanent loss of customers and future sales
B)failure to meet ISO requirements
C)potential for government audits
D)lost revenues
Q2) The percentage of companies adopting lean practices in inventory management is estimated to be ______.
A)over 30%
B)over 40%
C)over 50%
D)over 60%
Q3) Active tags are ______.
A)useful for tracking high-value goods that need to be scanned over long ranges
B)less expensive than passive tags
C)those that can be monitored from a long distance (e.g.,company headquarters)
D)those for which government subsidies are available
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Chapter 19: Inventory Control Models
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Q1) In the EPQ model,the total annual setup costs are given by ______.
A)(Annual demand / EPQ)* Setup cost
B)(Annual demand * EPQ)* Setup cost
C)(Annual demand * EPQ)/ Setup cost
D)(Annual demand / EPQ)/ Setup cost
Q2) The setup cost to make a carpet is $20 per setup.The holding cost is $2.00 per yard per year,and the annual demand is 12,000 yards.The manufacturing facility operates 300 days,and 120 yards of the carpet are produced per day.Given this information,which of the following statements is true?
A)With an optimum order quantity of 600,the length of the production run in days is 5.
B)With an optimum order quantity of 500,the length of the production run in days is 6.
C)With an optimum order quantity of 400,the length of the production run in days is 7.
D)With an optimum order quantity of 300,the length of the production run in days is 8.
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Chapter 20: Sales and Operations Planning
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Q1) Which phase of the SCOP process focuses on identifying new sources of revenue that can result from reducing carbon emissions?
A)new product development
B)demand planning
C)impact on existing products
D)operations planning
Q2) The first step in sales and operations planning is ______.
A)data gathering
B)supply planning
C)demand planning
D)financial planning
Q3) Service companies such as hotels and concert halls offer premium and economy rooms and seats under different price ranges.This technique is an illustration of which of the following yield management strategies?
A)overbooking
B)adjusting prices to augment demand
C)annualized hours strategy
D)using different fare classes to partition demand
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22
Chapter 21: Master Scheduling and Material Requirements
Planning
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Q1) Net requirements is calculated as ______.
A)Gross requirements + on-hand inventory
B)Gross requirements - on-hand inventory
C)Gross requirements x on-hand inventory
D)Gross requirements ÷ on-hand inventory
Q2) In the part-period balancing lot-sizing technique,______.
A)the order interval is variable
B)the order quantity is fixed
C)the price is fixed
D)the price is variable
Q3) A benefit of MRP is a(n)______.
A)increase in work-in-progress inventory
B)increase in finished goods inventory
C)increase in inventory costs
D)decrease in inventory costs
Q4) In lot-for-lot lot sizing,______.
A)inventory holding costs are high
B)holding and ordering costs are balanced
C)setup and ordering costs are high
D)setup and ordering costs are low
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Chapter 22: Supplement: Capacity Requirements Planning,
MRP II, ERP, and DRP
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Q1) Distribution requirements planning (DRP)is also known as ______.
A)distribution resource planning
B)distribution relationship planning
C)demand resource planning
D)demand relationship planning
Q2) Business in the ______ sector have to first assess their operations' needs before selecting a specific ERP package.
A)manufacturing
B)service
C)mining
D)hospitality
Q3) Which module of the ERP system includes applications that provide customers with sales quotes,schedule orders,print shipping labels,generate leads,and create sales literature?
A)finance and accounting
B)human resources management (HRM)
C)customer resources management (CRM)
D)supply chain management (SCM)
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Chapter 23: Detailed Scheduling
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Q1) A scheduling process used to determine the approximate completion time for each job,the capacity required in each time period by beginning with the current date for those jobs that have known processing requirements,and loading the jobs forward in time is called ______.
A)current-date scheduling
B)forward scheduling
C)due-dates scheduling
D)backward scheduling
Q2) Which of the following is NOT a performance evaluation criterion for priority rules?
A)average job flow time
B)average number of jobs in the system
C)average job tardiness
D)average job setup time
Q3) ______ steps can be used to implement the theory of constraints,beginning with the bottleneck operation.
A)Two
B)Three
C)Four
D)Five
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Page 25
Chapter 24: Linear Programming
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Q1) Which of the following is an algorithm that provides a systematic way of examining the corner or extreme points of the feasible region of more complex LP problems to determine the optimal value of the objective function?
A)graphical method
B)corner point method
C)simplex method
D)iso-profit line method
Q2) ABC,Inc.,is a small clothing manufacturer that produces polo shirts and pants using two resources: sewing machine hours and cutting machine hours.The production manager can schedule up to 240 hours of sewing machine time and up to 150 hours cutting machine time.Production of one polo shirt requires 3 hours of sewing time and 1 hour of cutting time.Each pair of pants requires 2 hours of sewing time and 1.5 hours of cutting time.Each polo shirt yields a profit of $5,and each pair of pants generates a $6 profit.The objective is to maximize profits.How many decision variables are there in this LP formulation?
A)one
B)two
C)three
D)four
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Page 26
Chapter 25: The Transportation Models
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Q1) Refer to the shipping costs for The Terra Cotta Company.Solve the transportation problem using Excel Solver.(Remember that in balanced transportation problems all constraints-except the non-negativity constraints of the decision variables-should be set as an equal-to (=)sign in the Excel Solver dialogue.)At the optimum solution,which of the following statements is true?
A)The shipping costs from Aberdeen to Kalamazoo are $10,920.
B)The shipping costs from Aberdeen to Kalamazoo are $1,695.
C)The shipping costs from Escondido to Winston are $10,506.
D)The shipping costs from Danbury to Navarre are $10,908.
Q2) Refer to the data given in the table for Acme Widgets,Inc.Solve the transportation problem using Excel Solver.(Remember that in balanced transportation problems all constraints-except the non-negativity constraints of the decision variables-should be set as an equal to (=)sign in the Excel Solver dialogue.)At the optimum solution,the shipment of widgets from Riverside to Huntsville is ______.
A)2,500
B)4,200
C)4,500
D)5,000
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Chapter 26: Waiting Line Models
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Q1) ______ is the elapsed time between one customer arrival and the next.
A)Arrival pattern
B)Arrival rate
C)Interarrival time
D)Service time
Q2) In queuing models,if the service rate forms a Poisson distribution,then the service times have a ______.
A)binomial distribution
B)positive exponential distribution
C)Poisson distribution
D)negative exponential distribution
Q3) In queuing theory,"random arrivals" means that ______.
A)customers arrive at given times
B)the arrivals of customers are independent of each other
C)the interval between each customer arrival is fixed
D)you can predict the arrival of the next customer based on the previous customer's arrival time
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28
Chapter 27: Simulation
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Q1) Consider the data on Inventory of Widgets Over a 10-Day Period.Any time that ending inventory falls to 15 or below,an order is placed for 20 units of the product.The lead time for delivery varies and is shown in the column under Lead Time.If the backorder costs amount to $9 for each widget that is on backorder,then what are the total backorder costs?
A)$0
B)$115
C)$9
D)$90
Q2) Consider the data on Inventory for Blenders Over a 20-Day Period.Any time that ending inventory falls to 15 or below,an order is placed for 30 units of the product.The lead time for delivery varies and is shown in the column under Lead Time.If the backorder costs were $19 per unit,what are the total backorder costs during the 20-day period?
A)$133
B)$113
C)$76
D)$182
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Chapter 28: Learning Curves
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Q1) Acme,Inc.,produces widgets.To manufacture a new type of widget,it took 51 hours for the first widget.Acme estimates it has an 85% learning rate.Using the logarithmic approach,calculate the time it will take to manufacture the 148th widget.
A)16.24 hours
B)15.86 hours
C)19.52 hours
D)16.94 hours
Q2) Consider a programmer required to complete four work assignments.Assume an overhead rate of $1.50 and the cost per hour for the programmer's services to be $35/hour.The programmer's learning rate for coding is 0.85.The steady state for the fourth iteration (n = 4)to code is 50 hours.Determine the estimate of time needed for the first coding iteration.
A)69.16 hours
B)97.43 hours
C)87.34 hours
D)78.43 hours
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Chapter 29: Decision-Making Tools
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Sample Questions
Q1) The decision maker-although not certain-is aware of the chances,or probabilities,of the various states of nature occurring.This statement relates to which of the following scenarios?
A)decision under certainty
B)decision under uncertainty
C)decision under state of nature
D)decision under risk
Q2) Refer to the data on Expected Demand for Acme Widgets.Based on the Hurwicz criterion,what is the payoff for the "outsource" option if you used the coefficient of realism of 0.6?
A)$45.20 million
B)$16.44 million
C)$57.00 million
D)$33.42 million
Q3) In a decision tree,branches from a square node represent ______.
A)decision alternatives
B)uncertain event whose occurrence cannot be predicted
C)the state of nature
D)consequences
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