Question 1

Below are details of five different companies and the data they collect. For each company, select the characteristic of the data collected and the business area it relates to.

Company 1: This company is collecting data which will assist in the designing of products- ensuring functionality at the lowest cost. The issue with the data is its seasonality.

Company 2: This company has a high number of data files. They are dismantling current ways of working to figure out if there is a more effective way to do things.

Company 3: Data collected by company 3 is collected at speed in real time. They are attempting to find any underlying patterns in the data to inform on better decision making.

Company 4: Company 4’s objective is to reduce the risk of exposure of the company to unforeseen events. Data is being collected in many different formats.

Company 5: This data is similar in format and content but is collected from a wide range of sources. The data looks at the costs and implications of raw materials used in production.

Complete the table below by listing the characteristic of the data and the corresponding business area (some options may be used twice); volume (x2), variety, velocity, variability, complexity, concurrent engineering, process design, statistical analysis, life cycle analysis, risk reduction, value engineering.

2022-06-23-14-10-20-04ed19e84a93f5476fb3a230ac6269fb

Which of the following will you put into box 10?

Options :

A : concurrent engineering

B : process design

C : statistical analysis

D : life cycle analysis

E : risk reduction

F : value engineering

Answer: D

Question 2

Which of the following are resources often provided by professional forums and associations? Select all that apply

Options :

A : professional development

B : access to peer reviewed journals

C : peer networks

D : events discussing industry insight

Answer: A,B,C,D

Question 3

A bread manufacturer requires flour to be delivered to the manufacturing plant on a daily basis. It is important for the bread manufacturer that the quality of the flour meets certain criteria or it cannot be used, and this will impact on the number of loaves that can be produced per day. The manager of the bread manufacturer stated in the contract a qualative target for amount of defects which ties the price they pay to an agreed level of performance. What form of supplier incentive is this?

Options :

A : gain-share pricing

B : consumption based pricing

C : shared risk-reward

D : incentive based pricing

Answer: D

Question 4

A piece of computer software runs an analysis about possible disaster scenarios such as a power failure to the manufacturing plant, and tells an organisation how best to react in the situation. What type of analytics does this software provide?

Options :

A : descriptive

B : prescriptive

C : predictive

D : diagnostic

Answer: B

Question 5

Julie is the CEO of a small manufacturing company which is struggling to compete in the marketplace. Julie is considering implementing Simultaneous Engineering processes, what would be the benefit of this to her organisation? Select all that apply

Options :

A : reduction in development time

B : fewer design changes

C : less staff are required

D : increased sales

Answer: A,B

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