10. Which of the following is a key performance indicator (KPI) commonly used in operations management? a) Return on investment (ROI) b) Gross profit margin c) On-time delivery performance d) Market share

11. Which production scheduling method uses a priority list to sequence jobs? a) First-come, first-served (FCFS) b) Last-in, first-out (LIFO) c) Shortest job first (SJF) d) Critical path method (CPM)

12. Which inventory cost includes the cost of holding inventory over time? a) Ordering cost b) Carrying cost c) Shortage cost d) Setup cost

13. What is the primary purpose of a Gantt chart in project management? a) Resource allocation b) Risk analysis c) Time scheduling d) Cost estimation

14. Which of the following is a key principle of the Theory of Constraints (TOC)? a) Minimize bottlenecks b) Maximize excess capacity c) Optimize all processes simultaneously d) Ignore process variations

15. Which type of forecasting method uses historical data to predict future values? a) Qualitative forecasting b) Time series forecasting c) Causal forecasting d) Delphi method

16. In operations management, what does the acronym MRP stand for? a) Manufacturing Resource Planning b) Material Requirement Planning c) Master Resource Production d) Management Review Process

17. Which concept focuses on reducing waste and improving efficiency in production processes? a) Just-in-time (JIT) b) Total Quality Management (TQM) c) Theory of Constraints (TOC) d) Lean manufacturing

18. What is the main objective of process reengineering? a) Reducing customer satisfaction b) Eliminating inefficiencies and improving processes c) Maximizing employee turnover d) Increasing production costs

19. Which type of layout arranges production processes based on the flow of work? a) Product layout b) Process layout c) Fixed-position layout d) Hybrid layout

20. What is the primary focus of aggregate planning in operations management? a) Long-term capacity planning b) Short-term scheduling c) Daily production control d) Quality improvement

21. Which inventory control technique involves categorizing items based on their importance and managing them accordingly? a) Economic order quantity (EOQ) b) ABC analysis c) Reorder point (ROP) d) JIT inventory

22. Which of the following is a key element of supply chain risk management? a) Reducing supplier diversity b) Increasing lead times c) Identifying and mitigating potential disruptions d) Reducing communication with suppliers

23. What is the primary goal of the PDCA (Plan-Do-Check-Act) cycle in quality management? a) Maintain the status quo b) Achieve perfection c) Continuously improve processes d) Eliminate all defects

24. Which inventory management approach seeks to maintain a constant level of inventory on hand? a) Periodic review system b) Fixed order quantity system c) Continuous review system d) Dynamic reorder system

25. What is the primary purpose of a service level agreement (SLA) in operations management? a) Define the responsibilities of employees b) Specify the quality of a product c) Set expectations for service performance d) Determine the cost of production

26. Which of the following is a key component of demand forecasting? a) Identifying potential bottlenecks b) Predicting future customer demand c) Optimizing production schedules d) Reducing waste in processes

27. Which performance measurement system focuses on financial and non-financial performance indicators? a) Balanced scorecard b) Economic value added (EVA) c) Return on investment (ROI) d) Net present value (NPV)

28. What is the primary goal of inventory turnover analysis? a) Maximize the number of suppliers b) Minimize lead times c) Optimize inventory levels d) Increase production capacity

29. Which of the following is a key factor in location decisions for manufacturing facilities? a) Proximity to competitors b) Availability of skilled labor c) Access to transportation infrastructure d) Low customer demand

30. Which lean manufacturing tool aims to reduce setup times and improve production efficiency? a) 5S methodology b) Andon system c) Kanban system d) SMED (Single-Minute Exchange of Die)

1. What is the total cost of producing 500 units if the variable cost per unit is $10 and the fixed costs are $2,000? 2. Calculate the capacity utilization percentage if a factory has a maximum capacity of 1,000 units and is currently producing 800 units. 3. A production line produces 200 units per hour. How many hours will it take to produce 2,500 units? 4. If the demand forecast for a product is 1,200 units and the current inventory is 300 units, how many units should be produced to meet demand? 5. Calculate the average inventory level if a company holds 600 units of a product in stock for 30 days. 6. What is the reorder point if the average daily demand for a product is 50 units, and the lead time is 5 days? 7. Calculate the Economic Order Quantity (EOQ) if the annual demand is 5,000 units, ordering cost is $100 per order, and holding cost per unit per year is $2. 8. If a production process has a yield rate of 90%, and 1,000 units are started, how many good units will be produced? 9. Calculate the cycle time if a manufacturing process takes 8 hours to complete and produces 400 units in that time. 10. If a project has a total completion time of 40 weeks and consists of 10 tasks, what is the critical path duration? 11. A factory has an OEE (Overall Equipment Effectiveness) of 85%, an availability of 90%, and a performance rate of 95%. Calculate the quality rate. 12. Calculate the total lead time for a product if the order processing time is 3 days, manufacturing time is 5 days, and transportation time is 2 days. 13. If a supplier offers a 2% discount for paying an invoice within 10 days, what is the annualized interest rate (APR) for taking advantage of the discount? 14. Calculate the labor productivity if a factory produces 2,000 units in 40 labor hours. 15. A company produces 5 different products. If Product A has a contribution margin of 20%, Product B has 15%, Product C has 25%, Product D has 10%, and Product E has 30%, what is the weighted average contribution margin? 16. If a project's net present value (NPV) is $50,000, and the discount rate is 10%, what is the project's profitability index? 17. Calculate the process capability index (Cpk) if the upper specification limit (USL) is 80, the lower specification limit (LSL) is 60, and the process mean is 70. 18. A company has a machine that costs $100,000 and has a salvage value of $20,000 after 5 years. What is the annual depreciation expense using the straight-line method? 19. If a production line has a defect rate of 3% and produces 10,000 units, how many defective units are expected? 20. Calculate the break-even point in units if the selling price per unit is $50, variable cost per unit is $30, and fixed costs are $20,000.