Exam Code : 630-007
Exam Name : C.P.M. Module 3: Value Enhancement Strategies
Vendor Name :
"ISM"
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C.P.M. Module 3: Value Enhancement Strategies
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A consequence of the Taft-Hartley Act is that it ?
Allows Congress to establish minimum hourly rates for certain workers
Enables the Department of Labor to establish minimum hourly rates for certain workers
Allows the President to intervene in labor disputes
Enables the Department of Health and Human Services to establish health and safety standards in certain industries
What would be the break-even level of volume between Machine A and Machine B where Machine A costs $750 to set up each time it is used, and the unit costs of operation are $5 per unit. Whereas Machine B has $1,000 set-up costs, and its variable costs of operation are $3.80 per unit.
A. 113.6
B. 208.3
C. 210.0
D. 225.4
Which type of supplier would be LEAST critical to develop into a JIT supplier?
A key technology supplier
A process-intensive supplier
A supplier of a commodity
A long lead time supplier
What is the term used to refer to the practice of replacing both the salesperson and
Supplier partnering
Strategic alliance
JIT II
Supply chain management
Which of the following types of Fixed Order Quantity models refers to the consideration of tradeoffs between the carrying and ordering costs, assuming constant costs?
Economic Order Quantity with Price Discounts
Economic Order Quantity with Uncertain Demand
Economic Order Quantity
Non-Instantaneous Replenishment Economic Order Quantity
What does the term "avoidance of risk" refer to in commodity trading?
shorting
hedging
spot buying
margin buying
Which of the following strategies would be the MOST cost effective to follow in an effort to reduce the cost impact of obsolete retail inventory?
introduce a new product
revise the specifications
scrap the stock
Which of the following represents a major benefit of JIT II to the supplier?
an ongoing relationship
a decrease in administrative costs
a reduction in material costs
the creation of supply standards
Which of the following would represent the BEST strategy to follow in an effort to hold costs relatively constant in the short run in a case where a clothing manufacturer learns that world climatological conditions will cause the prices of certain natural fibers to rise?
Increasing retail prices of their products
Reducing the level of output
Employing forward buying techniques
Automating production of their products
At which of the following stages of a value analysis study would you typically find determination and comparison of suitability?
Information
Analysis
Collection
Action
Which of the following is a MOST likely consequence of early purchasing involvement (EPI) during the capital acquisition process?
providing data of requirements to suppliers in advance
shortening the acquisition process
increasing the chances of developing a quality product
reduction of the cycle time
Which of the following is NOT permitted within brainstorming?
creativity
equal opportunity for all participants
use of cross-functional teams
value judgments
In which type of cost reduction will simplification lead to increased savings?
transportation
inventory
materials shortages
obsolescence
In a forward buying scenario the average price paid on the cycle's upswing should be
?
less than the cash price for futures
less than the contract
less than the market price during that period
the average of the market during that period
When considering a cost reduction program the PRIMARY objective is to obtain products and services ?
without defects
at reduced lead times
at a lower price
at better value
Which of the following does NOT represent a reason for expending considerable attention to disposal activities?
They lead to reduced inventory levels.
They result from shortened product life.
They contribute to standardization programs
They free up valuable space.
Where would international trade merchandise and services manifest an undervalued
U.S. dollar the most?
decreased foreign travel to the United States
economic weakening of U.S. trading partners
increased foreign sales by U.S. manufacturers
increased the purchase of foreign goods and services by Americans
What is the logical consequence of falling prices in the case where demand in a
market is inelastic?
Total demand will increase.
Total revenue will decrease.
Total output will increase
Total revenue will increase.