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1. Which of the following measurements indicates there may be bias in the forecast model?
A) Mean absolute deviation (MAD)
B) Variance
C) Tracking signal
D) Standard deviation
2. An example of a cradle-to-cradle sustainability model would be:
A) A a laundry service collects dirty baby clothes from families; cleans the clothes inlarge, efficient batches;and thensorts and delivers the clothes back to each family.
B) a bank offers the lowest interest rates on loans to firms that are committed to using recycled materials andimplementing zero-waste initiatives in their processes.
C) a company uses wood that has been gathered from multiple sources to construct items, such as beds andtoys for babies and young children.
D) a coffee shop collects paper waste in its restaurants, has a selected supplier collect the paper waste to be recycled, and then purchases paper products from that supplier.
3. A planner has chosen to increase the order point for a raw material. Which of the following costs is most likely to increase?
A) Ordering
B) Carrying
C) Landed
D) Product
4. Which of the following trade-offs should be evaluated when determining where to place inventory in a multi-echelon supplychain network?
A) Customer price and order quantity
B) Production cost and lot size quantity
C) Purchase cost and shrinkage rates
D) Transportation cost and delivery time
5. The benefits of standardized work include:
A) consistent cycle time.
B) more innovation.
C) shorter takt time.
D) less finished goods inventory.
Solutions:
| Question # 1 Answer: C | Question # 2 Answer: D | Question # 3 Answer: B | Question # 4 Answer: D | Question # 5 Answer: A |
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