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Free CPIM-Part-2 Exam Braindumps (page: 5)

Page 4 of 38
PDF with 151 Questions

Which of the following techniques would a group use to prioritize problems?

  1. Critical path analysis
  2. Pareto analysis
  3. Scatter charts
  4. Cause-and-effect diagrams

Answer(s): B

Explanation:

Pareto analysis is a technique that a group can use to prioritize problems. Pareto analysis is based on the Pareto principle, also known as the 80/20 rule, which states that 80% of the effects come from 20% of the causes1. Pareto analysis can help a group identify and focus on the most significant problems that account for the majority of the negative outcomes, and allocate their resources and efforts accordingly2.
The steps of Pareto analysis are3:
Step 1: Define the problem and its scope. Clarify what the problem is, why it is important, and what are the desired outcomes.
Step 2: Identify the causes of the problem. Brainstorm and list all the possible factors that contribute to the problem, such as people, processes, equipment, materials, environment, etc. Step 3: Collect data on the causes. Gather quantitative or qualitative data on how often or how much each cause affects the problem, such as frequency, severity, cost, time, etc.

Step 4: Analyze the data using a Pareto chart. A Pareto chart is a type of bar chart that shows the frequency or impact of each cause in descending order, along with a cumulative line that shows the percentage of the total effect. A Pareto chart can help visualize which causes are more significant than others, and where the 80/20 split occurs.
Step 5: Prioritize the causes and take action. Based on the Pareto chart, select the most critical causes that need to be addressed first, and develop and implement solutions to eliminate or reduce them. Monitor and evaluate the results and repeat the process if necessary. Therefore, Pareto analysis is a technique that a group can use to prioritize problems by identifying and focusing on the most significant causes that account for the majority of the negative outcomes.


Reference:

1: The Pareto Principle - The 80/20 Rule Explained 1 2: How to Use Pareto Analysis to Improve Your Business 2 3: How to Perform a Pareto Analysis (Step-by-Step) 3



In the design and development of a manufacturing process, process engineers would most likely be responsible for decisions relating to:

  1. lead times.
  2. production capacity.
  3. product reliability.
  4. routing sequences.

Answer(s): D



Which of the following trade-offs should be evaluated when determining where to place inventory in a multi-echelon supply chain network?

  1. Production cost and lot size quantity
  2. Purchase cost and shrinkage rates
  3. Transportation cost and delivery time
  4. Customer price and order quantity

Answer(s): C



Which of the following trade-offs should be evaluated when determining where to place inventory in a multi-echelon supply chain network?

  1. Production cost and lot size quantity
  2. Purchase cost and shrinkage rates
  3. Transportation cost and delivery time
  4. Customer price and order quantity

Answer(s): C

Explanation:

One of the trade-offs that should be evaluated when determining where to place inventory in a multi-echelon supply chain network is the transportation cost and delivery time. A multi-echelon supply chain network is a system of interconnected stages or echelons that perform different functions, such as production, distribution, and retailing, to deliver products or services to the end customers1. Inventory placement is the decision of how much and where to hold inventory in the supply chain network to balance the costs and service levels2. Transportation cost is the expense of moving products or materials from one echelon to another in the supply chain network. Transportation cost depends on factors such as distance, mode, volume, weight, fuel, and tariffs3. Delivery time is the duration of moving products or materials from one echelon to another in the supply chain network. Delivery time depends on factors such as speed, reliability, frequency, and congestion3.
There is a trade-off between transportation cost and delivery time when determining where to place inventory in a multi-echelon supply chain network. Generally, holding more inventory closer to the customers can reduce the delivery time and increase the service level, but it can also increase the transportation cost and the inventory holding cost4. On the other hand, holding less inventory farther from the customers can reduce the transportation cost and the inventory holding cost, but it can also increase the delivery time and decrease the service level4. Therefore, finding the optimal inventory placement requires balancing the transportation cost and delivery time trade-off. Some of the methods or tools that can help evaluate the transportation cost and delivery time trade- off are:
Network optimization: a technique that uses mathematical models to optimize the design and configuration of a supply chain network by minimizing the total costs (including transportation and inventory costs) while satisfying the service level requirements. Multi-echelon inventory optimization: a technique that uses mathematical models to optimize the allocation and sizing of safety stocks across multiple echelons of a supply chain network by minimizing the total costs (including transportation and inventory costs) while satisfying the service level requirements.
Simulation: a technique that uses computer software to mimic the behavior and performance of a supply chain network under different scenarios and assumptions. Simulation can help evaluate the impact of different inventory placement strategies on the transportation cost and delivery time. Therefore, transportation cost and delivery time is one of the trade-offs that should be evaluated when determining where to place inventory in a multi-echelon supply chain network.


Reference:

1: Multi-Echelon Inventory Optimization 2 2: Inventory Placement Definition 3 3:
Transportation Cost Definition 4 4: The Tradeoff Between Inventory Costs And Transportation Costs :
Supply Chain Network Design: Applying Optimization and Analytics to ... 1






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