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Answered: - Question 1 The typical time horizon for aggregate planning is


I need the answers to the Operation Management questions that I've attached.? Also could you show how you got the answers with the ones you can show work for.


Question 1

 

The typical time horizon for aggregate planning is (13-3):

 

a) three to 18 months

 


 

b) over five years.

 


 

c) up to three months.

 


 

d) over one year.

 


 

Question 2

 

ABC analysis is based upon the principle that (12-3)

 

a) a type of item is critical if its unit price is high.

 


 

b)

 


 

the safety stock per item (in terms fo the number of units) should be higher for A items

 

than for C items.

 


 

c) all items in inventory should be closely monitored.

 


 

d)

 


 

there are typically only a few types of inventory that are critical while there are many

 

more types that are less critical

 


 

Question 3

 

Which of the following would NOT generally be a motive for a firm to hold inventories?

 

a) to take advantage of quantity discounts.

 


 

b) Each of these answers are a reason for a firm to hold inventory.

 


 

c) to minimize holding costs.

 


 

d) to decouple or separate parts of the production process.

 


 

Question 4

 

Material requirement plans specify (14-2):

 


 

a) which production staff will be required, and when.

 


 

b) what product/component is to be made, and when.

 


 

c) the raw materials required to complete the product.

 


 

d) the labor hours required for production.

 


 

Question 5

 

One use of short-range forecasts is to determine (4-1)

 


 

a) inventory budgets

 


 

b) research and development plans

 


 

c) job assignments

 


 

d) facility location

 


 

Question 6

 

Enterprise Resource Planning (ERP) (14-5):

 


 

a) automates and integrates the majority of business processes.

 


 

b) each of these answers is correct.

 


 

c) does not integrate well with functional areas other than operaitons.

 


 

d) is easily and quickly implemented.

 


 

Question 7

 

Which of the following is NOT an advantaghe of level scheduling (13-3):

 

a) stable employment.

 


 

b) lower absenteeism

 


 

c) lowering turnover.

 


 

d) matching production exactly with sales.

 


 

Question 8

 

A master production schedule specifies (14-3)

 

Question 8 options:

 

a) the raw materials required to complete the product.

 


 

b) what product is to be made, and when.

 


 

c) the labor hours required for production.

 


 

d) the raw materials that will be left over.

 


 

Question 9

 


 

Based on the following table of the number of trips between stations during a study period,

 

which two stations should be the closest together (with the least distance between them) to

 

minimize the total trip-distance?

 

Question 9 options:

 

Stations 1 and 2

 


 

Stations 1 and 3

 


 

Stations 1 and 4

 


 

Stations 1 and 5

 


 

Stations 2 and 3

 


 

Stations 2 and 4

 


 

Stations 2 and 5

 


 

Stations 3 and 4

 


 

Stations 3 and 5

 


 

Stations 4 and 5

 

Question 11 (5 points)

 

Consider the following inventory problem:

 

The Average Monthly Demand is 400.

 

The Standard Deviation of Monthly Demand is 45.

 

The Lead Time from order placement to order receipt is 0.75 months.

 

The desired service level is 95%.

 

The Set Up Cost (or Cost per Order) is $150 per order.

 

The Holding Cost is $4 per item per year.

 

If ordering the Economic Order Quantity (EOQ), what will be the average inventory with safety

 

stock?

 

150.7

 

165.9

 

300

 

364.1

 

375.2

 

Question 12 (5 points)

 


 

Based on the following table of the number of trips between stations during a study period,

 

which two stations should be the furthest apart (with the greatest distance between them) to

 

minimize the total trip-distance?

 

Question 12 options:

 

A) Stations 1 and 2

 


 

B) Stations 1 and 3

 


 

C) Stations 1 and 4

 


 

D) Stations 1 and 5

 


 

E) Stations 2 and 3

 


 

F) Stations 2 and 4

 


 

G) Stations 2 and 5

 


 

H) Stations 3 and 4

 


 

I) Stations 3 and 5

 


 

J) Stations 4 and 5

 


 

Question 13

 

Consider the following inventory problem:

 

The Average Monthly Demand is 400.

 

The Standard Deviation of Monthly Demand is 45.

 

The Lead Time from order placement to order receipt is 0.75 months.

 

The desired service level is 95%.

 

The Set Up Cost (or Cost per Order) is $150 per order.

 

The Holding Cost is $4 per item per year.

 

If ordering the Economic Order Quantity (EOQ) and maintaining safety stock, what is the

 

minimum annual ordering and holding costs?

 

1200

 

1456.41

 

2400

 

2656.41

 

7323.76

 


 

Question 15

 

Consider the following inventory problem:

 

The Average Monthly Demand is 400.

 

The Standard Deviation of Monthly Demand is 45.

 

The Lead Time from order placement to order receipt is 0.75 months.

 

The desired service level is 95%.

 


 

The Set Up Cost (or Cost per Order) is $150 per order.

 

The Holding Cost is $4 per item per year.

 

If ordering the Economic Order Quantity (EOQ), how many orders will be placed each year?

 

2

 

4

 

8

 

16

 

39

 


 

Question 19 (5 points)

 

Consider the following inventory problem:

 

The Average Monthly Demand is 400.

 

The Standard Deviation of Monthly Demand is 45.

 

The Lead Time from order placement to order receipt is 0.75 months.

 

The desired service level is 95%.

 

The Set Up Cost (or Cost per Order) is $150 per order.

 

The Holding Cost is $4 per item per year.

 

What is the Economic Order Quantity (EOQ)?

 

Question 19 options:

 

0

 

75

 

122.474

 

527.995

 

600

 


 

 


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