# OPMA 3306 Operations Management Midterm Exam

## OPMA 3306 Operations Management Midterm Exam

OPMA 3306 Operations Management Midterm Exam
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OPMA 3306 Operations Management Midterm Exam

Question 1

Two managers are debating the consequences of adding something – we’ll call it “Component X” – to their firm’s product-service bundle. Pat says that adding Component X is going to really improve the firm’s business. Francis says that adding Component X is necessary just to keep up with competitors. If Pat is right, that means Component X is a(n) ____________. If Francis is right, that means Component X is a(n)

_______________.

1. Order-qualifier; order-winner

1. Order-quantifier; order-qualifier

Question 2

It costs \$115 to place an order for inventory item Q54 regardless of the order quantity. Item Q54’s purchase cost is \$29.22, and demand for Q54 is 50 units per month. Holding cost (annual) for Q54 is estimated at 15% of the purchase cost. What is the optimum time between orders for Q54?

Answers: A. Not in excess of 2 months

1. In excess of 2 months but not in excess of 3 months

1. In excess of 3 months but not in excess of 4 months

1. In excess of 4 months but not in excess of 5 months

1. In excess of 5 months

Question 3

Actual and forecasted demand for the last six periods was as follows:

Period Demand Forecast

1 60 63

2 58 54

3 64 70

4 56 58

5 66 67

6 62 54

What was MAPE in this scenario?

Answers: A. Not in excess of 1.0%

1. In excess of 1.0% but not in excess of 1.1%

1. In excess of 1.1% but not in excess of 1.2%

1. In excess of 1.2% but not...