Question 1

Time plays an important role for business customers and for businesses selling to them.

Accepted Answer

Time is crucial in business-to-business (B2B) transactions because it affects production schedules, inventory management, and overall operational efficiency, impacting profitability and customer satisfaction.

Question 2

Time often plays a more critical role in the determination of value for a B2C customer than a B2B customer.

Accepted Answer

False

Question 3

The length of the cash-to-cash cycle has become a popular means for measuring the impact of time on business productivity.

Accepted Answer

The cash-to-cash cycle measures the time it takes for a company to convert its investments in inventory and other resources into cash flows from sales, thus directly impacting business productivity by indicating how efficiently a company manages its working capital.

Question 4

In addition to the competitive attributes associated with time, scheduling has an impact on the utilization of capital resources.

Accepted Answer

Scheduling affects how efficiently capital resources are used by determining when and how equipment, facilities, and human resources are allocated, directly impacting their utilization rates and the overall cost-effectiveness of operations.

Question 5

Backward scheduling is utilized when a completion date needs to be determined.

Accepted Answer

Backward scheduling is used when the completion date is fixed, and the start date needs to be determined by working backward from the completion date.

Question 6

Particularly in process-oriented manufacturing, orders and parts tend to queue up in front of work centers.

Accepted Answer

In process-oriented manufacturing, orders and parts often queue up in front of work centers due to the variability in processing times and the batch nature of operations, leading to waiting times and potential bottlenecks.

Question 7

SPT and critical ratio recognize the impact that sequencing at one resource has on other resources.

Accepted Answer

SPT (Shortest Processing Time) and Critical Ratio primarily focus on optimizing the schedule for individual resources or jobs rather than considering the interdependencies between different resources.

Question 8

Reneging occurs when a customer views the queue and does not enter because it is too long.

Accepted Answer

Reneging occurs when a customer enters a queue but decides to leave before being served due to the wait being too long.

Question 9

The critical path can shift from one path to another if an activity on a non-critical path is lengthened enough, or an activity on the critical path is reduced enough.

Accepted Answer

The critical path is the longest sequence of activities in a project plan which must be completed on time for the project to complete on due date. Any delays in the critical path lead to delays in the project. However, if an activity on a non-critical path takes longer than planned, it could become longer than the current critical path, making it the new critical path. Similarly, if an activity on the current critical path is shortened, it could cause another path to become the longest, thus becoming the new critical path.

Question 10

Project scheduling with uncertain time estimates typically assumes that the activity times follow the alpha distribution.

Accepted Answer

Project scheduling with uncertain time estimates typically assumes that the activity times follow the Beta distribution, especially in the context of PERT (Program Evaluation and Review Technique).

Question 11

Which of the following statement is not true about the role of timeliness?
A) Time-related issues and decisions affect costs and value.
B) Increasing processing time allows businesses to respond more quickly to demand changes
C) Timeliness can have a significant impact on the financial health of the firm.
D) There are several time-related components of value in B2C and B2B relationships.
E) Time plays equally important roles for customers and for businesses selling them.

Accepted Answer

EB) Increasing processing time typically slows down the ability to respond to demand changes, not increases it. Timeliness in business operations often means reducing processing times to become more agile and responsive.E) The importance of time can vary between customers and businesses. For some customers, time may be a critical factor (e.g., in urgent deliveries), while for others, it might be less so. Similarly, businesses may prioritize time differently based on their operational requirements and the nature of their products or services.

Question 12

Which of the following statements is accurate concerning costs and time?
A) Costs associated with time reduce the bottom line for business and for its customers in several ways.
B) Direct materials costs, direct labor costs, and overhead costs are indirectly related to time.
C) The amount of time a product or a customer is in a productive system isn't all devoted to processing and adding value.
D) Both A and B
E) Both A and C
F) A, B and C

Accepted Answer

Both statements A and C are accurate. Statement A is correct because costs related to time, such as delays, can negatively impact both the business and its customers financially. Statement C is accurate because not all the time a product or customer spends in a system is directly related to value-adding activities; some of it may be spent waiting or in non-productive activities. Statement B is incorrect because direct materials, direct labor, and overhead costs are directly related to time, as they all contribute to the total time and cost of producing a product or service.

Question 13

A popular means of measuring the impact of time on business productivity is referred to as:
A) Lead time
B) Queue time
C) Cash-to-cash cycle
D) Due date performance
E) None of the above

Accepted Answer

The cash-to-cash cycle measures the time it takes for a company to convert its investments in inventory and other resources into cash flows from sales, reflecting the impact of time on business productivity.

Question 14

Which of the following statements is not true regarding the cash-to-cash cycle?
A) A common tendency is to focus only on production time when trying to reduce the cash-to-cash cycle, . but in reality, any task in the cycle has the same impact.
B) An important part of the cash-to-cash cycle is known as the make/market or order/deliver loop.
C) The cash-to-cash cycle compares the actual completion of order to its due date and calculates the actual . receipt of the payment when it is sold.
D) Profitability increases as the cash-to-cash cycle is reduced.

Accepted Answer

The cash-to-cash cycle measures the time between when a business pays for its inventory and when it receives payment from its customers, not the comparison of order completion to its due date or the actual receipt of payment when it is sold.

Question 15

The time between creation and identification of a defect is known as
A) Balking time
B) The cash-to-cash cycle
C) Feedback delay
D) The service process

Accepted Answer

Feedback delay refers to the period between the creation of a defect and its detection or identification. This concept is important in quality management and process improvement, as shorter feedback delays can lead to quicker corrections and enhancements.

Question 16

Assuming that all non-value adding time has already been removed, which of the following would likely be the best way to reduce the total time required to accomplish a set of tasks?
A) Identify tasks that can be done in sequence, rather than in parallel.
B) Find ways to actually reduce the amount of time required for each individual task.
C) Identify tasks that could be done in parallel, rather than in sequence.
D) Find tasks currently done in parallel, and eliminate the one adding the least amount of value.

Accepted Answer

By identifying tasks that can be done in parallel rather than in sequence, you can reduce the total time required to complete the set of tasks, as parallel processing allows multiple tasks to be completed simultaneously.

Question 17

In the typical service setting, approaches used to match capacity with demand include:
A) Storing finished goods inventory for later use.
B) Using appointments or reservations to match demand and capacity
C) Changing prices to reduce demand during times when demand is low and increase demand at peak times.
D) Involving customers in the process so that tasks don't take as long and capacity is increased.

Accepted Answer

The answer of In the typical service setting, approaches used...

Question 18

The sequencing rule that sequences jobs according to the expected amount of time to complete the job is referred to as:
A) Earliest due date
B) Shortest processing time
C) Critical ratio
D) Slack per remaining operation
E) First come first serve

Accepted Answer

The Shortest Processing Time (SPT) rule sequences jobs based on the expected amount of time to complete each job, prioritizing those with the shortest processing times.

Question 19

An example of a sequencing technique that does not treat each resource or operation independently is:
A) Earliest due date
B) Shortest processing time
C) Critical ratio
D) Slack per remaining operation
E) First come first serve

Accepted Answer

Slack per remaining operation considers both the slack time and the number of remaining operations for a job, integrating multiple aspects of the job rather than treating resources or operations independently.

Question 20

A sequencing technique that considers due date and processing time is:
A) Earliest due date
B) Shortest processing time
C) Critical ratio
D) First come first serve

Accepted Answer

The Critical Ratio (CR) technique considers both the due date and the processing time by calculating the ratio of time remaining until the due date to the processing time remaining.

Quiz 8: Timeliness: Scheduling and Project Management

Time plays an important role for business customers and for businesses selling to them.

Time often plays a more critical role in the determination of value for a B2C customer than a B2B customer.

The length of the cash-to-cash cycle has become a popular means for measuring the impact of time on business productivity.

In addition to the competitive attributes associated with time, scheduling has an impact on the utilization of capital resources.

Backward scheduling is utilized when a completion date needs to be determined.

Particularly in process-oriented manufacturing, orders and parts tend to queue up in front of work centers.

SPT and critical ratio recognize the impact that sequencing at one resource has on other resources.

Reneging occurs when a customer views the queue and does not enter because it is too long.

The critical path can shift from one path to another if an activity on a non-critical path is lengthened enough, or an activity on the critical path is reduced enough.

Project scheduling with uncertain time estimates typically assumes that the activity times follow the alpha distribution.

Which of the following statement is not true about the role of timeliness?

Which of the following statements is accurate concerning costs and time?

A popular means of measuring the impact of time on business productivity is referred to as:

Which of the following statements is not true regarding the cash-to-cash cycle?

The time between creation and identification of a defect is known as

Assuming that all non-value adding time has already been removed, which of the following would likely be the best way to reduce the total time required to accomplish a set of tasks?

In the typical service setting, approaches used to match capacity with demand include:

The sequencing rule that sequences jobs according to the expected amount of time to complete the job is referred to as:

An example of a sequencing technique that does not treat each resource or operation independently is:

A sequencing technique that considers due date and processing time is: