Question 1

Which one of the following descriptions best defines the cycle- service level as a measure of customer service?

Accepted Answer

A)  The number of stockouts tolerated per year 
B)  The desired probability of not running out of stock in any one inventory cycle 
C)  The preferred proportion of days in the year when an item is in stock 
D)  The preferred proportion of annual demand instantaneously filled from stock 
A)  The number of stockouts tolerated per year 
B)  The desired probability of not running out of stock in any one inventory cycle 
C)  The preferred proportion of days in the year when an item is in stock 
D)  The preferred proportion of annual demand instantaneously filled from stock

Question 2

The degree at which all the work can be done is referred to as ______ .

Accepted Answer

The answer of The degree at which all the work...

Question 3

Table $5.10$
A firm using the periodic review system (P system) reviews the status of an item every 4 weeks. The standard deviation in weekly demand is 60 units. The lead time for the item is 3 weeks, whereas demand averages 200 units per week. You will need to refer to a normal table to answer the question(s).
-Use the information in Table 5.10. How much safety stock should be held to achieve a 95 percent cycle service level?

Accepted Answer

A)  less than or equal to 270 units 
B)  greater than 270 but less than or equal to 285 units 
C)  greater than 285 but less than or equal to 300 units 
D)  greater than 300 units 
A)  less than or equal to 270 units 
B)  greater than 270 but less than or equal to 285 units 
C)  greater than 285 but less than or equal to 300 units 
D)  greater than 300 units

Question 4

The percentage of demand for an item that is met from on- hand inventory, relative to the total demand for that item is referred to as the

Accepted Answer

A)  reorder rate. 
B)  safety stock ratio. 
C)  item fill rate. 
D)  cycle service ratio. 
A)  reorder rate. 
B)  safety stock ratio. 
C)  item fill rate. 
D)  cycle service ratio.

Question 5

One of the secondary levers for reducing safety stock inventory is to reduce

Accepted Answer

A)  capacity cushions. 
B)  supply uncertainties. 
C)  setup cost. 
D)  delivery size. 
A)  capacity cushions. 
B)  supply uncertainties. 
C)  setup cost. 
D)  delivery size.

Which one of the following descriptions best defines the cycle- service level as a measure of customer service?

The degree at which all the work can be done is referred to as ______ .

The percentage of demand for an item that is met from on- hand inventory, relative to the total demand for that item is referred to as the

One of the secondary levers for reducing safety stock inventory is to reduce

Creating Customer Value

Supply Chain Management

Supply Chain Sustainability and Humanitarian Logistics

Process Configuration

Capacity

Inventory Management

Quality and Process Improvement

Lean Systems

Location and Layout

Managing Demand and Forecasting

Operations Planning and Scheduling

Resource Planning

Filters

Exam 6: Waiting Lines

Which one of the following descriptions best defines the cycle- service level as a measure of customer service?

The degree at which all the work can be done is referred to as ______ .

The percentage of demand for an item that is met from on- hand inventory, relative to the total demand for that item is referred to as the

One of the secondary levers for reducing safety stock inventory is to reduce

Creating Customer Value

Supply Chain Management

Supply Chain Sustainability and Humanitarian Logistics

Process Configuration

Capacity

Inventory Management

Quality and Process Improvement

Lean Systems

Location and Layout

Managing Demand and Forecasting

Operations Planning and Scheduling

Resource Planning

Filters