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Question
Which of the following statements about ABC analysis is FALSE?
A) ABC analysis is based on the presumption that controlling the few most important items produces the vast majority of inventory savings.
B) In ABC analysis, "A" items should have tighter physical inventory control than "B" or "C" items have.
C) In ABC analysis, forecasting methods for "C" items may be less sophisticated than for "A" items.
D) ABC analysis is based on the presumption that all items must be tightly controlled to produce important cost savings.
E) Criteria other than annual dollar volume, such as high holding cost or delivery problems, can determine item classification in ABC analysis.
Answer
This answer is hidden. It contains 20 characters.
Related questions
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B) absolute deviation of the last period's forecast.
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D) ratio of cumulative error / MAD.
E) MAPE.
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A) immediate rivals
B) potential entrants
C) customers
D) suppliers
E) all of the above
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Service organizations can immerse the consumer in the service, or have the consumer become a participant in the service, as they practice ________.
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B) rejecting a good lot.
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E) none of the above
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The probability of rejecting a good lot is known as consumer's risk.
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Because most services cannot be inventoried, there is little place for JIT to help service organizations achieve competitive advantage.
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A) employee development.
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D) challenging jobs.
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Wheeled Coach uses ________ as the catalyst for low inventory, high quality, tight schedules, and accurate records.
Q:
Demand for a given item is said to be dependent if:
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B) there is a deep bill of material.
C) the finished products are mostly services (rather than goods).
D) there is a clearly identifiable parent.
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Industries in which revenue management techniques are easiest to apply are those where:
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B) use tends to be predictable, and pricing tends to be variable.
C) use tends to be uncertain, and pricing tends to be fixed.
D) use tends to be uncertain, and pricing tends to be variable.
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________ rely on a variety of supplier relationships to provide services on demand.
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A) higher capital cost
B) higher wage rates
C) smaller labor pool
D) higher training costs
E) All of the above are limitations of job expansion.
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C) job identity
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Q:
Profit-sharing is a motivation and incentive system where executives receive stock options.
Q:
The primary purpose of the mean absolute deviation (MAD) in forecasting is to:
A) estimate the trend line.
B) eliminate forecast errors.
C) measure forecast accuracy.
D) seasonally adjust the forecast.
E) remove random variations.
Q:
Which of the following is NOT a key benefit of MRP?
A) increased quality
B) better response to customer orders
C) faster response to market changes
D) improved utilization of facilities and labor
E) reduced inventory levels
Q:
Demand for a given item is said to be dependent if:
A) it originates from the external customer.
B) there is a deep bill of material.
C) the finished products are mostly services (rather than goods).
D) there is a clearly identifiable parent.
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Q:
Weight Day
Package 1
Package 2
Package 3
Package 4 Monday
23
22
23
24 Tuesday
23
21
19
21 Wednesday
20
19
20
21 Thursday
18
19
20
19 Friday
18
20
22
20 (a) If he sets an upper control limit of 21 and a lower control limit of 19 around the target value of twenty ounces, the control chart is based on what value of z?
(b) With the UCL and LCL of part a, what do you conclude about this processis it in control?
Answer:
Q:
What is the difference between natural and assignable causes of variation?
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Q:
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A) 18.18% of the throughput time
B) 100% of the throughput time
C) 550% of the throughput time
D) 50% of the throughput time
E) 1.82% of the throughput time