Objective Assessment (OA) Practice Test | Questions and
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Actual capacity
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Definition
Acronym - A framework for competitive advantage.
Viral, Inimitable, Rare, Aptitude, Lifespan.
The advantage must provide Value to consumers; it should be
Inimitable (not easily imitated), Rare, and an organization must have the
Aptitude (capability) and Lifespan (sustainability) to earn appropriate
returns on the advantage.
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VIRAL BACTERIAL
LOCAL ORGANIC
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Definition
,Forecasting technique using historical data to predict future. They are
appropriate to use when past numerical data is available and when it is
reasonable to assume that some of the patterns in the data are
expected to continue into the future.
Includes simple and weighted moving average.
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Quantitative Methods (time
Survey Method
series)
Panel of Experts (Delphi Technique) Qualitative Methods
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Definition
Process of returning defective products to the manufacturer for repair
or replacement, and/or efforts to reuse and recycle materials.
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Reverse Logistics Warehousing
Order Fulfillment Inbound Logistics
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Definition
Items usually include finished products, such as the completed tricycle
or replacement parts sold to customers.
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Independent demand Derived demand
Both a & b Seasonal demand
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Definition
Adds or reduce capacity in small or large amounts as consumer
demand changes; triggered by major changes to process or system
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Adjustment Capitation