1. At which inventory level is operations management considered to be doing an excellent

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1.  At which inventory level is operations management considered to be doing an excellent

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job?

A. Below the minimum level

B. Above the minimum level

C. Absolute minimum level

D. Absolute maximum level

2.  Which of the following represents the costs for warehouse storage and handling of finished goods inventory?

A. Quality

B. Stock-out

C. Ordering

D. Carrying

3.  Regarding supplier performance measurement, the number of customer complaints comes under _______ measures.

A. service

B. quality

C. delivery

D. cost/price

4.  The construction industry uses which of the following pricing methods?

A. Markup

B. Cost-plus

C. Target-return

D. Perceived-value

5.  Which of the following marketing budgets is based on previous years’ data and experience levels?

A. Percent-of-sales

B. Customer-mix

C. Top-down

D. Bottom-up

6.  Market research is useful in

A. performing baseline market segmentation methods.

B. understanding the consumers’ buying experiences.

C. identifying niche markets.

D. niche markets, buying experiences, and segmentation.

7.  A company needs to make a 20% profit on all products. What pricing method should it use to achieve its profit goal?

A. Perceived-value

B. Cost-plus

C. Markup

D. Target-return

8.  A toy store has a new game in stock, but customers aren’t buying it. Which of the following types of inventory increases when customers aren’t buying this game?

A. Raw materials

B. In-transit

C. Work-in-process

D. Finished goods

9.  Loretta orders a custom cake that takes three days to make from the time it’s ordered. The three days is called _______ time.

A. value

B. quality

C. cycle

D. supplier

10.  When raw materials and finished products move from upstream suppliers to downstream producers and customers, it’s called

A. reverse logistics.

B. pull supply chain.

C. forward logistics.

D. push supply chain.

11.  A company doesn’t know how much to price its products, so it’s using focus groups and surveys to understand what customers are willing to pay. This is called _______ pricing.

A. cost-plus

B. target-return

C. perceived-value

D. markup

12.  In capacity management, which of the following is a long-term plan to increase the capacity?

A. Creating additional work shifts

B. Asking employees to work overtime

C. Expanding an existing manufacturing factory

D. Building a new manufacturing factory

13.  A double electronic auction occurs between

A. many buyers and many sellers.

B. one seller and many buyers.

C. one buyer and one seller.

D. one buyer and many sellers.

14.  Last month, a restaurant used 50 pounds of vegetables. This month, the restaurant orders another 50 pounds of vegetables. This is an example of

A. forward logistics.

B. a pull supply chain.

C. a push supply chain.

D. reverse logistics.

15.  Which of the following customers pose a high risk if ignored?

A. Below-average

B. Major

C. Average

D. Loyal

16.  A factory adopts a new strategy where the right materials are used at the right time in the production process. This strategy is called

A. materials management.

B. just-in-time.

C. order management.

D. effectiveness.

17.  Selling an expensive antique car via electronic auction generally occurs between

A. one buyer and many sellers.

B. one buyer and one seller.

C. one seller and many buyers.

D. many buyers and many sellers.

18.  When an online retailer suggests other products that would work with the products the customer is purchasing, this is an example of

A. lateral-selling.

B. cross-selling.

C. up-selling.

D. down-selling.

19.  When expected customer sales data is driving the demand for products, it’s called

A. forward logistics.

B. pull supply chain.

C. push supply chain.

D. reverse logistics.

20.  “Selling price = Unit cost + Desired profit” represents which of the following pricing approaches?

A. Standard markup

B. Target return pricing

C. Profit-maximization

D. Demand-based pricing



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