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Question
In a fixed-order-quantity system, when demand is uncertain, using economic order quantity (EOQ) based only on the average demand will result in a low probability of a stockout.
a. True
b. False
Answer
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Related questions
Q:
_____ inventory is an additional amount of inventory that is kept over and above the average amount required to meet demand.
a. Seasonal
b. Work-in-process
c. Finished-goods
d. Safety stock
Q:
Which of the following statements is true of backorders?
a. They occur as a result of excessive stock.
b. They occur when a customer is unwilling to wait for an ordered item.
c. They result in additional costs.
d. They force a customer to purchase elsewhere.
Q:
In the context of ABC inventory analysis, which of the following statements is true of class A items?
a. They require close control by operations managers.
b. They comprise less than 30 percent of the total dollar usage.
c. They can be managed using automated computer systems.
d. They account for more than 50 percent of inventory items.
Q:
In the context of fixed-quantity systems, _____ is defined as the on-hand quantity (OH) plus any orders placed but which have not arrived minus any backorders (BO).
a. inventory position
b. the reorder point
c. a stock-keeping unit
d. work-in-process inventory
Q:
In the context of project management, _____ a project involves releasing and reassigning people.
a. closing
b. organizing
c. defining
d. planning
Q:
For manufactured goods, design blueprints specify a nominal dimension which is the:
a. dimension with the least manufacturing cost.
b. dimension with the greatest variation from the target dimension.
c. range of permissible variation in the target dimension of the goods.
d. specified target dimension of the goods.
Q:
_____ technology refers to the application of the Internet, computer programs, and information systems to provide data, information, and analysis to facilitate the creation and delivery of goods and services.
a. Hard
b. Soft
c. Assistive
d. Adaptive
Q:
_____ refers to equipment and devices that perform a variety of tasks in the creation and delivery of goods and services.
a. Hard technology
b. Soft technology
c. A database system
d. A neural network
Q:
Scalability is a key issue in e-commerce.
a. True
b. False
Q:
_____ often drive simultaneous improvements in quality, cost, and productivity.
a. Credence attributes
b. Time reductions
c. Corporate strategies
d. Mass standardization
Q:
Identify a true statement about corporate strategy of large organizations.
a. It defines the focus for strategic business units of an organization.
b. It provides the means by which business strategies are accomplished.
c. It is necessary to define the businesses in which an organization will participate.
d. It defines how an organization's processes are designed and organized.
Q:
Indicate whether the statement is true or false.Different industries use different software packages for scheduling because every industry has different problem structures.a. Trueb. False
Q:
Capacity requirements are computed by multiplying the number of units scheduled for production at a work center by the:
a. the unit resource requirements and then adding in the setup time.
b. the setup time and then subtracting the unit resource requirements.
c. the setup time and then adding in the unit resource requirements.
d. the unit resource requirements and then subtracting the setup time.
Q:
Which of the following lot sizing rules is best applied when setup or order costs are high?
a. The fixed-order quantity rule
b. The lot-for-lot rule
c. The periodic-order quantity rule
d. The gross requirements rule
Q:
_____ are the quantity of a component needed to support production at the next-higher level of assembly.
a. Planned order receipts
b. Scheduled receipts
c. Explosions
d. Gross requirements
Q:
Which of the following is true of the lot-for-lot (LFL) rule?
a. It minimizes the costs associated with production setups.
b. It ignores the costs associated with purchase orders.
c. It maximizes the amount of inventory that needs to be carried.
d. It masks the true nature of dependent demand.
Q:
A company currently has no items in inventory. The demand for the next four months is 200, 400, 250, and 350 units. Assuming a level production rate of 350 units per month, determine the ending inventory at the end of the fourth month.
a. 100
b. 150
c. 200
d. 250
Q:
_____ refers to moving work from one workstation to another, assigning people to tasks, setting priorities for jobs, scheduling equipment, and controlling processes.
a. Aggregate planning
b. Disaggregation
c. Capacity planning
d. Execution
Q:
For goods-producing firms, at which of the following levels of resource planning does scheduling for individual subassemblies and resources by week and day take place?
a. Aggregate planning
b. Disaggregation
c. Execution
d. Demand forecasting
Q:
In industries where jobs have low skill requirements, changing workforce levels can be cost effective.
a. True
b. False
Q:
The _____ function of a supply chain is responsible for selecting transportation carriers and managing company-owned fleets of vehicles.
a. integration
b. procurement
c. logistics
d. scheduling
Q:
Managing orders, transportation, and distribution to provide goods and services is part of the _____ function of the Supply Chain Operations Reference (SCOR) model.
a. plan
b. source
c. make
d. deliver
Q:
_____ is the discipline of managing the flow of materials and transportation activities to ensure adequate customer service at reasonable cost.
a. Logistics
b. Scheduling
c. Procurement
d. Integration
Q:
_____ specialize in handling all aspects of customers giving back a manufactured good or delivered service and requesting their money back, repairing the manufactured good and giving it to the customer, and/or invoking the service guarantee.
a. Certified suppliers
b. Process designers
c. Demand forecasters
d. Return facilitators
Q:
A(n) _____ is any entityreal or virtualthat coordinates and shares information between buyers and sellers.
a. manufacturer
b. franchisor
c. intermediary
d. investor
Q:
Which of the following is true of order amplification?
a. Order amplification in the supply chain leads to the bullwhip effect.
b. Large order sizes can help manage order amplification.
c. Order amplification decreases as one moves back up the supply chain away from the retail customer.
d. Increasing price fluctuations can help manage order amplification.
Q:
Air shipments have the lowest transportation cost and can carry unlimited weight.a. Trueb. False
Q:
Technology upgrades and backup systems and sites can help mitigate security risks.
a. True
b. False
Q:
Marketing and operations prefer high inventory levels, whereas finance would prefer small inventories.
a. True
b. False
Q:
The single-period inventory model applies to inventory situations where demand is uncertain.
a. True
b. False