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OMIS 338 Exam 3 questions with correct answers
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OMIS 338 Exam 3 questions with correct answers
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OMIS 338 Exam 3Demand characteristics for finished goods (Independent demand) and components (Dependent
demand) - correct answer ✔✔o Components of dependent demand:
-Master production schedule
-Specifications or bill of material
-Accurate inventory availability
-Purchase orders outstanding
-Lead times
o Demand characteristics (Independent demand):
Customers' orders
Finished goods
Forecast and Booked Customer orders
EOQ & ROP
o The structure, inputs and outputs of the MRP process - correct answer ✔✔o The structure of MRP is
the Master Production Schedule (a specified, planned schedule of what is to be made and when)
o Inputs: Bill-of- material, lead times, inventory data, purchasing data
o Outputs: MRP by period report, MRP by date report, Planned order report, Purchase advice, and
Exception reports.
o MRP Functions - correct answer ✔✔o MRP functions:
Facilitates re-planning when changes occur
System nervousness can result from too many changes
Time fences put limits on re-planning
Pegging links each item to its parent allowing effective analysis of changes
, o ERP Processes: an extension of the MRP system to tie in customers and suppliers
Allows automation and integration of many business processes
Shares common databases and business practices
Produces information in real time
Coordinates business from supplier evaluation to customer invoicing
Functions:
• Basic MRP
• Finance
• Human Resources
• Supply-Chain Management
• Customer relationship management
• Sustainability
Advantages:
• ERP systems have the potential to
o Reduce transaction costs
o Increase the speed and accuracy of information
• Facilitates a strategic emphasis on JIT systems and supply chain integration
Disadvantage:
• Can be expensive and time-consuming to install
Limitations - correct answer ✔✔MRP does not do detailed scheduling - it plans
Works best in product focused, repetitive environments
Requires fixed lead time and infinite size time buckets
MRP II Functions - correct answer ✔✔o MRP II Functions:
Outputs can include scrap, packaging waste, effluent, carbon emissions
Data used by purchasing, production scheduling, capacity planning, inventory, warehouse management.
Closed loop MRP - correct answer ✔✔o Closed loop MRP:
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