Question 1

Describe what kind of costs is included in the accounting cost for holding inventories.Provide examples.

Accepted Answer

The accounting cost for holding inventor

Question 2

One type of inventory control system periodically evaluates inventory levels and places an order of to bring back the level to a predetermined level.Choose the systems that can be associated with this type of system.
1)P-System
2)Q-system
3)Periodic review system

Accepted Answer

A)  (1) 
B)  (2) 
C)  (1) and (3) 
D)  None of the above 
A)  (1) 
B)  (2) 
C)  (1) and (3) 
D)  None of the above

Question 3

Choose the following assumptions that cannot be considered a classic EOQ assumption.
1)Constant lead time
2)Instantaneous replenishment
3)No quantity discounts available
4)Fixed holding cost per unit

Accepted Answer

A)  (1) 
B)  (2) and (3) 
C)  (2) and (4) 
D)  None of the above 
A)  (1) 
B)  (2) and (3) 
C)  (2) and (4) 
D)  None of the above

Question 4

Calculate the demand during lead time when both demand and lead time assumptions are relaxed.The following is a demand and lead time probability table.Show your work as a decision tree.
 $$\begin{array} { | c | c | c | c | } 
\hline \begin{array} { c } 
\text { DEMAND PER } \
\text { DAY }
\end{array} & \text { PROBABILITY } & \begin{array} { c } 
\text { MANUFACTURING } \
\text { LEAD TIME (IN } \
\text { DAYS) }
\end{array} & \text { PROBABILITY } \
\hline 1 & 0.2 & 1 & 0.45 \
\hline 2 & 0.8 & 2 & 0.55 \
\hline
\end{array}$$

Accepted Answer

\[\begin{array} { | c | c | c | c | c |

Question 5

Discuss what does differentiate the two types of quantity discount methods? (All and incremental)Go into details.

Accepted Answer

Quantity discount methods are used by bu

Question 6

Which of the following statements regarding inventory are incorrect?
1)Other than the cost, holding inventory is good for operations.
2)Inventories account for between 60 and 80 percent of a typical industrial firm's assets
3)WIP inventory is an acronym for work in process inventories.
4)Safety stock is held to maintain a certain level of service regardless of uncertainty

Accepted Answer

A)  (1) and (4) 
B)  (2) and (4) 
C)  (1), (3) and (4) 
D)  (1) 
A)  (1) and (4) 
B)  (2) and (4) 
C)  (1), (3) and (4) 
D)  (1)

Question 7

The production-processing technology is divided into two categories.The _____________ produce standardized products through an assembly line, while _________ are used to produce non-standardized products through a job shop.

Accepted Answer

A)  mass production systems/reorder point systems 
B)  mass production systems/reorder point systems. 
C)  piece flow systems/periodic systems. 
D)  intermittent systems/continuous systems. 
A)  mass production systems/reorder point systems 
B)  mass production systems/reorder point systems. 
C)  piece flow systems/periodic systems. 
D)  intermittent systems/continuous systems.

Describe what kind of costs is included in the accounting cost for holding inventories.Provide examples.

One type of inventory control system periodically evaluates inventory levels and places an order of to bring back the level to a predetermined level.Choose the systems that can be associated with this type of system. 1)P-System 2)Q-system 3)Periodic review system

Choose the following assumptions that cannot be considered a classic EOQ assumption. 1)Constant lead time 2)Instantaneous replenishment 3)No quantity discounts available 4)Fixed holding cost per unit

Calculate the demand during lead time when both demand and lead time assumptions are relaxed.The following is a demand and lead time probability table.Show your work as a decision tree. DEMAND PER DAY PROBABILITY MANUFACTURING LEAD TIME (IN DAYS) PROBABILITY 1 0.2 1 0.45 2 0.8 2 0.55

Discuss what does differentiate the two types of quantity discount methods? (All and incremental)Go into details.

The production-processing technology is divided into two categories.The _____ produce standardized products through an assembly line, while _ are used to produce non-standardized products through a job shop.

Supply chain focused manufacturing planning and control

Forecasting demand

S&OP/Aggregate planning

Master production schedule

MRP production system

JIT/Lean production

Push and pull production systems

Capacity management

Production planning and control for remanufacturing

Supply chain focused outsourcing

Manufacturing focused supply chain integration

Filters

Exam 5: Supply chain focused inventory management

Describe what kind of costs is included in the accounting cost for holding inventories.Provide examples.

One type of inventory control system periodically evaluates inventory levels and places an order of to bring back the level to a predetermined level.Choose the systems that can be associated with this type of system. 1)P-System 2)Q-system 3)Periodic review system

Choose the following assumptions that cannot be considered a classic EOQ assumption. 1)Constant lead time 2)Instantaneous replenishment 3)No quantity discounts available 4)Fixed holding cost per unit

Calculate the demand during lead time when both demand and lead time assumptions are relaxed.The following is a demand and lead time probability table.Show your work as a decision tree. DEMAND PER DAY PROBABILITY MANUFACTURING LEAD TIME (IN DAYS) PROBABILITY 1 0.2 1 0.45 2 0.8 2 0.55

Discuss what does differentiate the two types of quantity discount methods? (All and incremental)Go into details.

The production-processing technology is divided into two categories.The _____________ produce standardized products through an assembly line, while _________ are used to produce non-standardized products through a job shop.

Supply chain focused manufacturing planning and control

Forecasting demand

S&OP/Aggregate planning

Master production schedule

MRP production system

JIT/Lean production

Push and pull production systems

Capacity management

Production planning and control for remanufacturing

Supply chain focused outsourcing

Manufacturing focused supply chain integration

Filters

The production-processing technology is divided into two categories.The _____ produce standardized products through an assembly line, while _ are used to produce non-standardized products through a job shop.