Industrial Engineering Gate Previous Year Questions

A PERT network has 9 activities on its critical path. The standard deviation of each activity on the critical path is 3. The standard deviation of the critical path is

a) 3
b) 9
c) 27
d) 81

Robot Ltd. wishes to maintain enough safety stock during the lead time period between starting a new production run and its completion such that the probability of satisfying the customer demand during the lead time period is 95%. The lead time period is 5 days and daily customer demand can be assumed to follow the Gaussian (normal) distribution with mean 50 units and a standard deviation of 10 units. Using Ф^-1(0.95) =1.64 , where Ф represents the cumulative distribution function of the standard normal random variable, the amount of safety stock that must be maintained by Robot Ltd. to achieve this demand fulfillment probability for the lead time period is units (round off to two decimal places).

Robot Ltd. wishes to maintain enough safety stock during the lead time period between starting a new production run and its completion such that the probability of satisfying the customer demand during the lead time period is 95%. The lead time period is 5 days and daily customer demand can be assumed to follow the Gaussian (normal) distribution with mean 50 units and a standard deviation of 10 units. Using Ф^-1(0.95) =1.64 , where Ф represents the cumulative distribution function of the standard normal random variable, the amount of safety stock that must be maintained by Robot Ltd. to achieve this demand fulfillment probability for the lead time period is units (round off to two decimal places).

In Materials Requirement Planning, if the inventory holding cost is very high and the setup cost is zero, which one of the following lot sizing approaches should be used?

a) Lot-for-Lot
b) Fixed Period Quantity, for 2 periods
c) Economic Order Quantity
d) Base Stock Level