BUSI 411 Exam 4 Liberty University Complete Answers

BUSI 411 Exam 4 Liberty University Complete Answers

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· Question 1 

3 out of 3 points 

The Operations Manager for Shadyside Savings & Loan orders cash from her home office for her very popular "BIG BUCKS" automated teller machine, which only dispenses $100 bills. She estimates that this machine dispenses an average of 12,500 bills per month, and that carrying a bill in inventory costs 10 percent of its value annually. She knows that each order for these bills costs $300 for clerical and armored car delivery costs, and that order lead time is six days. Assuming a 30-day month, if she were to order 6,000 bills at a time, what would be the average monthly total costs, EXCLUDING the value of the bills? 

· Question 3 

3 out of 3 points 

Which of the following is least likely to be included in order costs? 

· Question 4 

3 out of 3 points 

A cycle count program will usually require that A items be counted: 

· Question 6 

3 out of 3 points 

A lean-systems method of asking questions about a process is the __________ approach. 

· Question 7 

3 out of 3 points 

When lean is used in the context of services, which of the following is most often the focus? 

· Question 8 

3 out of 3 points 

Although lean systems tend to produce standardized product lines, to provide production variety without accompanying waste, lean producers often use __________ in __________. 

· Question 9 

3 out of 3 points 

Which of the following is not something commonly found in lean systems? 

1. (I) Waste reduction 

2. (II) Output match to a detailed forecast 

3. (III) Visual controls 

4. (IV) Quick changeovers 

5. (V) Long production runs 

· Question 10 

3 out of 3 points 

Managers considering an operations strategy reflecting the lean philosophy of operations should recognize that lean: 

· Question 14 

3 out of 3 points 

RFID chips: (I) are used to track goods in distribution. (II) are used to track job progress in production. (III) are used to provide special instructions to operators. (IV) can be used in inventory record keeping. 

· Question 15 

3 out of 3 points 

Which of the following is least likely to be a key consideration when a company chooses a supplier? 

· Question 16 

3 out of 3 points 

The priority rule which will sequence jobs in the order they are received is: 

· Question 17 

3 out of 3 points 

Which sequencing rule is designed specifically to minimize job tardiness? 

· Question 18 

3 out of 3 points 

Scheduled due dates are the result of: 

· Question 20 

3 out of 3 points 

The following matrix shows relative costs for various job-machine combinations. Assume there must be one-to-one matching between jobs and machines. Which set of pairs constitutes the minimum-cost solution using the assignment method? 

Machine 

A 

B 

C 

Job 

1 

$ 

6 

0 

0 

2 

0 

3 

4 

3 

0 

1 

2 

· Question 24 

3 out of 3 points 

The assignment model seeks an optimum matching of tasks and resources. 

· Question 25 

3 out of 3 points 

Priority rules are widely used to sequence jobs in high-volume systems.