Question

1. Inventory in the supply chain calls for buffer stock under:

Select one: a. Management of raw material b. Uncertainty c. Work in progress d. Economies of scale e. Product availability

2. Which of the following is not one of the four Vs of operations management

Select one: a. Volume b. Variability c. Value d. Variety e. Variation

3. Financial and commercial pressures have driven many companies to introduce the design function.

Select one: a. False b. True

4. Tolerance design establishes specifications which represent the transition from a designers concept to a producible design.

Select one: a. True b. False

Answer 1

1)

Here, correct answer is Uncertainty,

Explanation:

Inventory in the supply chain calls for buffer stock under uncertainties, we will maintain such buffer stock or safety stock as to deal with supply and demand uncertainties. Hence, correct answer is Uncertainty.

2)

Here, correct answer is Value

Explanation:

The four Vs of Operations Management include Volume, Variety, Variation and Visibility, Here, Value is not part of four Vs of Operations Management. Hence, correct answer is Value.

3)

Here, correct answer is True

Explanation:

Design function could make the products and services more user friendly and companies could manage their financial and commercial pressure easily, hence, design function would be helpful in such regards. so, correct answer is true or statement is true.

4)

Here, correct answer is false

Explanation:

Detail design establishes product specifications which represent the transition from a designer’s concept to a producible design. Tolerance represents permissible variations. Hence, the statement is False.