Question 1

Which of the following are fixed-time period inventory models?

Accepted Answer

A)  The EOQ model 
B)  The least cost method 
C)  The Q model 
D)  Periodic system model 
E)  Just-in-time model 
A)  The EOQ model 
B)  The least cost method 
C)  The Q model 
D)  Periodic system model 
E)  Just-in-time model

Question 2

Which of the following is not one of the categories of manufacturing inventory?

Accepted Answer

A)  Raw materials 
B)  Finished products 
C)  Component parts 
D)  Just-in-time 
E)  Supplies 
A)  Raw materials 
B)  Finished products 
C)  Component parts 
D)  Just-in-time 
E)  Supplies

Question 3

The optimal stocking decision in inventory management,when using marginal analysis,occurs at the point where the benefits derived from carrying the next unit are more than the costs for that unit.

Accepted Answer

A) True 
 B)False

Question 4

If demand for an item is normally distributed we plan for demand to be twice the average demand and carry 2 standard deviations worth of safety stock inventory.

Accepted Answer

A) True 
 B)False

Question 5

Using the probability approach to determine an inventory safety stock and wanting to be 95 percent sure of covering inventory demand,which of the following is the number of standard deviations necessary to have the 95 percent service probability assured?

Accepted Answer

A)  1.28 
B)  1.64 
C)  1.96 
D)  2.00 
E)  2.18 
A)  1.28 
B)  1.64 
C)  1.96 
D)  2.00 
E)  2.18

Question 6

Assuming no safety stock,what is the reorder point (R)given an average daily demand of 100 units and a lead time of 5 days? __________________________________

Accepted Answer

500
Explanation: Equation 11.4

Question 7

The "sawtooth effect," is named after the jagged shape of the graph of inventory levels over time.

Accepted Answer

A) True 
 B)False

Question 8

Using the fixed-time period inventory model,and given an average daily demand of 300 units,4 days between inventory reviews,5 days for lead time,1,200 units of inventory on hand,a "z" of 1.96,and a standard deviation of demand over the review and lead time of 12 units,what quantity should be ordered? ________________________

Accepted Answer

1,525
Explanation: Using equat

Which of the following are fixed-time period inventory models?

Which of the following is not one of the categories of manufacturing inventory?

The optimal stocking decision in inventory management,when using marginal analysis,occurs at the point where the benefits derived from carrying the next unit are more than the costs for that unit.

If demand for an item is normally distributed we plan for demand to be twice the average demand and carry 2 standard deviations worth of safety stock inventory.

Using the probability approach to determine an inventory safety stock and wanting to be 95 percent sure of covering inventory demand,which of the following is the number of standard deviations necessary to have the 95 percent service probability assured?

Assuming no safety stock,what is the reorder point (R)given an average daily demand of 100 units and a lead time of 5 days? __________________________________

The "sawtooth effect," is named after the jagged shape of the graph of inventory levels over time.

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Strategic Capacity Management

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Exam 11: Inventory Management

Which of the following are fixed-time period inventory models?

Which of the following is not one of the categories of manufacturing inventory?

The optimal stocking decision in inventory management,when using marginal analysis,occurs at the point where the benefits derived from carrying the next unit are more than the costs for that unit.

If demand for an item is normally distributed we plan for demand to be twice the average demand and carry 2 standard deviations worth of safety stock inventory.

Using the probability approach to determine an inventory safety stock and wanting to be 95 percent sure of covering inventory demand,which of the following is the number of standard deviations necessary to have the 95 percent service probability assured?

Assuming no safety stock,what is the reorder point (R)given an average daily demand of 100 units and a lead time of 5 days? __________________________________

The "sawtooth effect," is named after the jagged shape of the graph of inventory levels over time.

Operations and Supply Chain Management

Strategy and Sustainability

Forecasting

Strategic Capacity Management

Projects

Manufacturing and Service Processes

Service Processes

Sales and Operations Planning

Material Requirements Planning

Quality Management and Six Sigma

Lean Supply Chains

Global Sourcing and Procurement

Location, Logistics, and Distribution

Filters