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| Section | Objectives |
|---|---|
| Topic 1: Performance Improvement in Operations | - Performance measurement and benchmarking
|
| Topic 2: Operations Strategy and Performance | - Operations strategy development
|
| Topic 3: Operations Management Concepts | - Performance objectives of operations
|
| Topic 4: Operations Processes and Systems | - Four Vs of operations
|
| Topic 5: Quality and Reliability Management | - Total Quality Management (TQM)
|
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NEW QUESTION # 81
Which of the following do you need to know in order to work out the gross profit margin of an item? Select TWO
Answer: B,C
Explanation:
The formula for working out gross profit is (revenue - cost of goods sold) divided by revenue. Therefore 2 and 3 are correct. It's unlikely you will have to do any mathematical calculations in this exam, but if you do they'll be super easy and there is a calculator inbuilt into the system you can use. There's a couple of different cost formulas on p.78 but these will be familiar to you already from Level 4.
NEW QUESTION # 82
Which of the following are basic performance objectives used for day-to-day operations and ensure staff are working towards tangible achievements? Select TWO
Answer: C,D
Explanation:
The 5 BASIC performance objectives (according to CIPS) are cost, quality, flexibility, speed and dependability. Customer Satisfaction and Operations Agility are objectives at the strategic level. See p.75
NEW QUESTION # 83
There are four manufacturing companies located on Seashell Industrial Estate. Each company creates a different product and employs a different maintenance approach to its operations. For each company, select the corresponding maintenance approach and the key operating process characteristic.
Company 1: This company creates craft beer and offers customers a tour of the brewery for a small charge. The brewing equipment is serviced monthly and the brewery is kept extremely clean. All equipment is labelled with the last service date.
Company 2: This company produces seasonal items such as Easter Eggs and Christmas Cake. The equipment has a control panel where lights will flash red advising staff to check oil levels and components. Staff can then report issues to the maintenance team if remedial work is required. Product demand fluctuates throughout the year.
Company 3: This equipment does not often break down and is only fixed when it is reported by staff as no longer working. Company 3 creates toys, providing a large range of product sizes and colours based on different customer requirements.
Company 4: Parts of the machine are serviced quarterly but in general, the machine is left to run its course and is then replaced when it is no longer financially viable to fix. The company produces cereal and the operating process is focused on the quantity produced and therefore uses standardised processes.
Complete the table below by listing the maintenance approach and operating process characteristic for each company. Each response should only be used once: preventative maintenance, run to breakdown maintenance, condition-based maintenance, mixed maintenance, volume, visibility, variation, variety
Which of the following will you put into box 2?
Answer: D
Explanation:
The correct answers are as follows:
NEW QUESTION # 84
What is the name given to a person in an organisation who is competent in the Six-Sigma approach?
Answer: D
Explanation:
They're known as black belts (yes, like in martial arts). To gain a black belt in Six-Sigma you usually have to undergo a training course and have so many hours experience. See p.139.
NEW QUESTION # 85
There are four manufacturing companies located on Seashell Industrial Estate. Each company creates a different product and employs a different maintenance approach to its operations. For each company, select the corresponding maintenance approach and the key operating process characteristic.
Company 1: This company creates craft beer and offers customers a tour of the brewery for a small charge. The brewing equipment is serviced monthly and the brewery is kept extremely clean. All equipment is labelled with the last service date.
Company 2: This company produces seasonal items such as Easter Eggs and Christmas Cake. The equipment has a control panel where lights will flash red advising staff to check oil levels and components. Staff can then report issues to the maintenance team if remedial work is required. Product demand fluctuates throughout the year.
Company 3: This equipment does not often break down and is only fixed when it is reported by staff as no longer working. Company 3 creates toys, providing a large range of product sizes and colours based on different customer requirements.
Company 4: Parts of the machine are serviced quarterly but in general, the machine is left to run its course and is then replaced when it is no longer financially viable to fix. The company produces cereal and the operating process is focused on the quantity produced and therefore uses standardised processes.
Complete the table below by listing the maintenance approach and operating process characteristic for each company.
Each response should only be used once: preventative maintenance, run to breakdown maintenance, condition-based maintenance, mixed maintenance, volume, visibility, variation, variety
Which of the following will you put into box 8?
Answer: D
Explanation:
The correct answers are as follows:
NEW QUESTION # 86
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