MCQ Bank
Which method is used when we need an optimum solution to an aggregate planning problem and when we need to allocate operating capacity to meet forecasted demand?
- A) Graphical Method
- B) None of the Given Options
- C) Level Strategy
- D) Transportation Method
Which risks are associated with the chase strategy in aggregate planning?
- A) All the given options
- B) Increased inventory carrying costs
- C) This may lead to insecure and unhappy employees
- D) Risk associated with over or underestimation of market demand
Considering the level strategy in aggregate planning strategies, which of the following is used as a lever?
- A) Capacity
- B) Inventory
- C) None of the given options
- D) Time flexibility
What do scheduled receipts represent in the MRP system?
- A) Orders that are still under review and have not been confirmed
- B) Future projections of material requirements
- C) Planned orders that have not yet been released
- D) Orders placed with manufacturing or vendors that are committed to making or buying
Which of the following is true regarding transportation methods?
- A) It is not a trial-and-error method
- B) Transportation method can be used when the problem is viewed as one of allocating operating capacity to meet forecast demand
- C) It produces an optimum solution to an aggregate planning problem
- D) All the above are true regarding transportation method
Labor standards can be developed in all the following ways except ___________.
- A) Historical experience
- B) Predetermined time standards
- C) Time studies
- D) None of the options given
All the following are the functions of human resource management, EXCEPT:
- A) Product development
- B) Training and development
- C) Performance appraisal
- D) Recruitment and selection
In ABC analysis, which category of items typically represents the highest value but the smallest percentage of total items?
- A) D items
- B) C items
- C) B items
- D) A items
Which of the following industries are most likely to benefit from the application of Johnson's rule?
- A) Software development
- B) Healthcare
- C) Manufacturing
- D) Construction
Which of the following is not a characteristic of a level strategy in aggregate planning?
- A) Daily production is uniform.
- B) Use inventory or idle time as a buffer.
- C) The level strategy involves keeping the workforce constant.
- D) In the level strategy, daily production varies with the demand.
Annual ordering cost is calculated by which of the following formulas?
- A) DS/S
- B) DS/Q
- C) DS/C
- D) DS/G
Which one of the following cannot be considered as benefit due to JIT implementation?
- A) Increase in variability
- B) Reduction in cost
- C) Improvement in quality
- D) Reduction in delay
Which of the following is not a building block of just-in-time production?
- A) Personnel elements
- B) Process design
- C) Product design
- D) Material flow
Just in Time environment is based on which of the following options?None of the given options
- A) Pull system
- B) None of the given options
- C) Push system
- D) Incentive system
Which of the following is not a supporting goal of JIT system?
- A) Eliminate disruptions
- B) Make system more flexible
- C) Make system powerful
- D) Eliminate waste
When should a planned order be released according to the MRP objectives?
- A) Immediately after the order is planned
- B) As soon as the order is placed
- C) After receiving confirmation from the vendor
- D) When the planned order release date arrives
Which one of the following is not included in “housekeeping” for reducing waste?
- A) All the given options
- B) Simplify
- C) Self-discipline
- D) Standardization
In aggregate planning, when demand will be met by increasing or decreasing capacity through hiring and layoff of workers, without maintaining any inventory, we are using ____________ strategy.
- A) None of the given options
- B) Level strategy
- C) Chase strategy
- D) Time flexibility strategy
A price set by the retailer and often attached to a product with a sticker is known as:
- A) List price
- B) Market price
- C) Retail price
- D) Wholesaler price
Media for commercial advertising can include all of the following EXCEPT:
- A) Wall paintings
- B) Billboards
- C) Word of mouth
- D) Bus stop benches