Which of the following refers to the reorder point (ROP)?

• A) The point at which inventory must be reordered to avoid stockouts
• B) The optimal order quantity
• C) The maximum level of inventory
• D) The average inventory level

Which of the following is true regarding labor standards and work measurement?

• A) MTM table is used in calculating job time with historical experience.
• B) MTM table is used in calculating the time of micro moments in a job element.
• C) Allowance factor is used in predetermined time standards
• D) In time studies, we use MTM table and allowance factor

Which one of the following options involves the establishment of employees’ roles and responsibilities?

• A) Job analysis
• B) Job evaluation
• C) Job rotation
• D) Job design

Which one of the following statements is the primary objective of job design?

• A) To increase the number of employees in the organization.
• B) To create jobs that enhance employee satisfaction and performance.
• C) To eliminate all job responsibilities.
• D) To reduce the amount of training required for new hires.

Which of the following is not included in capacity options in the context of aggregate planning strategies?

• A) Develop a product mix of counter-seasonal items.
• B) The trade-off between capacity, inventory, backlog/lost sales.
• C) Increase in inventory during low-demand periods to meet high demand in future.
• D) Varying workforce size by hiring or layoff as per the need.

Which of the following is not included in the demand options in the context of aggregate planning strategies?

• A) Develop a product mix of counter-seasonal items
• B) Influencing demand through advertising and promotion campaigns
• C) Increase in inventory during low-demand periods to meet high demand in future
• D) Back ordering during high-demand periods

What happens to a scheduled receipt when the goods are received into inventory?

• A) It is transferred to the vendor’s records.
• B) It is converted into a new planned order.
• C) It becomes part of the on-hand inventory and is closed out.
• D) It remains open until the end of the production cycle.

Which of the following is not true regarding aggregate planning?

• A) Aggregate planning is the balance between demand and supply.
• B) If the aggregate plan is followed entirely, it will help meet the firm's strategic objectives.
• C) Aggregate planning and forecast are the same thing.
• D) Aggregate planning is the planned production for which manufacturing management is to be held responsible.

Which of the following costs is most critical in aggregate planning in the service sector?

• A) All the given options
• B) Cost of labor
• C) Cost of transportation
• D) Cost of raw material

In which aggregate planning strategy, the firm is dependent on the external source?

• A) Subcontracting
• B) Use of inventory as a lever
• C) Use of part-time workers to meet the demand
• D) Use of hiring and firing of workers to meet the demand

Which of the following parameters constitute the yield management matrix?

• A) Duration of use and demand
• B) Supply and demand
• C) Demand and price
• D) Duration of use and price

Allocating resources to customers at prices that will maximize the revenue is referred to as _______.

• A) Level Strategy
• B) Yield management
• C) None of the given options
• D) Transportation management

For an aggregated plan, using level strategy, if we maintain the constant workforce against the lowest demand of the planning period, then which of the following can be used as a lever to meet further demand?

• A) Subcontracting
• B) Chase Strategy
• C) None of the given option
• D) Hiring and Layoff

Who is responsible for releasing planned orders in the MRP system?

• A) The vendor
• B) The production activity control team
• C) The material planner
• D) The computer system

Which of the following is true about scheduled receipts?

• A) They are future orders that are automatically released by the MRP system.
• B) They are not yet committed and are still in planning stages.
• C) They represent orders that have been completed and added to on-hand inventory.
• D) They are orders that have been placed and show quantities and expected completion dates.

Which aggregate planning strategy uses inventory as a lever?

• A) Level strategy
• B) Subcontracting
• C) Time flexibility strategy
• D) Chase strategy

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