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SCM 303 Exam 2 Questions with 100%
correct answers
Quality - CORRECT ANSWER -A term used by customers to describe their
general satisfaction with a service or product
Defect - CORRECT ANSWER -Any instance when a process fails to satisfy its
customer
Prevention Costs - CORRECT ANSWER -Costs associated with preventing
defects before they happen
Appraisal Costs - CORRECT ANSWER -Costs incurred when the firm assesses
the performance level of its processes
External Failure Costs - CORRECT ANSWER -Costs that arise when a defect is
discovered after the customer receives the service or product
Internal Failure Costs - CORRECT ANSWER -Costs resulting from defects that
are discovered during the production of a service or product
Top Quality Management - CORRECT ANSWER -Customer Satisfaction,
employee involvement, and continuous improvement
Customer Satisfaction - CORRECT ANSWER -Conformance to specifications,
fitness for use, support, psychological impressions, and value
Employee Involvement - CORRECT ANSWER -Cultural change, and teams
Continuous Improvement - CORRECT ANSWER -Kaizen, problem solving tools,
Plan-Do-Act cycle
Six Sigma Target: Spread out - CORRECT ANSWER -Too much variability and
ok process
Six Sigma Target: Close together on the sides - CORRECT ANSWER -Process
off target and variability ok
Process performance and quality video - CORRECT ANSWER -Starwood hotels
Acceptance Sampling - CORRECT ANSWER -The application of statistical
techniques to determine if a quantity of material from a supplier should be accepted or rejected based on the inspection or test of one or more samples.
Acceptable Quality Level - CORRECT ANSWER -Quality level desired by
consumer
Statistical Process Control (SPC) - CORRECT ANSWER -The application of
statistical techniques to determine whether a process is delivering what the customer wants.
Variation of Outputs - CORRECT ANSWER -No two services or products are
exactly alike because the processes used to produce them contain many sources of variation, even if the processes are working as intended.
Performance Measurements (Variable and Attribute) - CORRECT ANSWER -
Variable: Service or product characteristics that can be measured Attribute: Service or product characteristics that can be quickly counted for acceptable performance
Complete Inspection - CORRECT ANSWER -Inspect each service or product at
each stage of the process for quality
Categories of variation - CORRECT ANSWER -Common cause - The purely
random, unidentifiable sources of variation that are unavoidable with the current process Assignable cause - Any variation-causing factors that can be identified and eliminated
Type I error - CORRECT ANSWER -An error that occurs when the employee
concludes that the process is out of control based on a sample result that falls outside the control limits, when it fact it was due to pure randomness
Type II error - CORRECT ANSWER -An error that occurs when the employee
concludes that the process is in control and only randomness is present, when actually the process is out of statistical control
Variable control charts - CORRECT ANSWER -R-chart and x-chart
Attribute control charts - CORRECT ANSWER -P-chart and C- chart
Short term forecasts tend to be more accurate than longer term forecasts -
CORRECT ANSWER -True
Types of forecasts - CORRECT ANSWER -Economic, technological, and
demand
Overview of qualitative methods - CORRECT ANSWER -Jury of executive
opinion, delphi method, sales force composite and market survey
Jury of executive opinion - CORRECT ANSWER -Small group of high level
experts and managers, they estimate demand by working together combining managerial experience with statistical models, quick but "group think" disadvantage
Delphi Method - CORRECT ANSWER -Iterative group process, continues until
consensus is reached. 3 types of participants (decision makers, staff, respondents)
Sales force composite - CORRECT ANSWER -Each salesperson projects his or
her sales, combined at district and national levels, sales reps know customers wants, may be overly optimistic
Market Survey - CORRECT ANSWER -Ask customers about purchasing plans,
useful for demand and product design and planning, what people say and what they do may be different or may be overly optimistic
Time series models - CORRECT ANSWER -Naive approach, moving averages,
exponential smoothing, trend projection
Associative model - CORRECT ANSWER -Linear regression
Time series compomnents - CORRECT ANSWER -Trend, cyclical, seasonal,
random
Trend component - CORRECT ANSWER -Persistent, overall upward or
downward pattern, changes due to population, technology, age, culture, etc. Several years duration
Seasonal conponent - CORRECT ANSWER -Regular pattern of up and down
fluctuations, due to weather, customs. Occurs within a single year
Cyclical Component - CORRECT ANSWER -Repeating up and down
movements, affected by business cycle, political, and economic factors. Multiple years duration
Random component - CORRECT ANSWER -Erratic, unsystematic, residual
fluctuations, due to random variation or unforeseen. short duration and nonrepeating
Naive approach - CORRECT ANSWER -Assumes demand in next period is the
same as demand in most recent period. Sometimes cost efficient and efficient. Can be good starting point
Moving average method - CORRECT ANSWER -MA is a series of arithmetic
means. Used if little or no trend. Used often for smoothing
Weighted moving average - CORRECT ANSWER -used when some trend might
be present. Older data usually less important. Weights based on experience and intuition
Exponential smoothing forecasting video - CORRECT ANSWER -Hard rock cafe
