Question

1. Process of predicting a future event is known as

1. Forecasting
2. End casting
3. Both A & B
4. None of the above

2. Short range forecasting time horizon is

1. Up to 1 year, generally less than 3 months
2. Purchasing, job scheduling, workforce levels, job assignments, production levels
3. Both A & B
4. None of the above

3. Medium/long range forecasts deal with more comprehensive issues and support management decisions regarding planning and products, plants and processes

1. True
2. False

4. Technological forecasts Address business cycle – inflation rate, money supply, housing starts, etc.

1. True
2. False

5. Qualitative methods includes

1. Used when situation is vague and little data exist
2. Involves intuition, experience
3. Both A & B
4. None of the Above

6. Consumer Market Survey are made to

1. Ask customers about purchasing plans
2. What consumers say, and what they actually do are often different
3. Sometimes difficult to answer
4. All of the above

1. Product life cycle includes
2. May be any length from a few hours to decades
3. The operations function must be able to introduce new products successfully
4. Both A & B
5. None of the above

7. Maturity means

1. Product design begins to stabilize
2. Effective forecasting of capacity becomes necessary
3. Adding or enhancing capacity may be necessary
4. None of the Above

8. In Robust design Product is designed so that small variations in production or assembly do not adversely affect the product

1. True
2. False

9. Guidelines for Environmentally Friendly Designs are

1. Use recycled materials
2. Use less harmful ingredients
3. Make products recyclable
4. Use lighter components
5. Use less energy
6. All of the above

10. Time-Based Competition includes

1. Product life cycles are becoming shorter and the rate of technological change is increasing
2. Developing new products faster can result in a competitive advantage
3. Both A & B
4. None of the above

Answer 1

1} The process of predicting the future is called as FORECASTING

2} Short range forecasting time horizon is up to 1 year generally less than 3 months.

3} True

4} False, because business cycle includes Expansion,peak,recession,depression,trough,recovery,expansion,peak and recession.

5}Qualitative method is used when situation is vague and little data exists and also involves intuition and experience , thus answer is both a) and b)

6} Consumer market surveys are made to ask customers about their purchasing plans.

7}Production life cycle includes that the operation function must be able to introduce new products successfully.

8}Maturity means product design begins to stabilize and product enjoys maximum profits from good sales in the economy

9} False,because Robust product design aims at reducing variations in a product without eliminating the causes of the variations.

10} All of the above , as all the points includealot making the product enviornmental friendly.

11} Time based competitions include that developing new products faster can result in the competitive advantage.

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