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

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