In a single-period model, if shortage and excess costs are equal, then the optimum service level is

focusNode

Inhaltsverzeichnis Show

Which of the following is implied by an annual service level of 95%?
Which of the following is not included in ordering cost?
Which of the following is the EOQ model most relevant to?
Which of the following is not an assumption of the basic EOQ model quizlet?

Didn't know it?
click below

Knew it?
click below

Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.

Normal Size Small Size show me how

exam 3

Question	Answer
True or False? In the fixed-order interval model, the size is the same for each cycle.	False. The size will vary according to demand, the only thing that is set is the time frame that the orders are made.
True or false? The fixed-order interval model requires a continuous monitoring of inventory levels.	False. The fixed-order interval model requires only periodic inventory checks.
True or false? the single-period model can be very helpful in determining when to order.	False. The goal of the single-period model is to identify the order quantity, or stocking level, that will minimize the long-run excess and shortage costs
True or false? In the single period model, the service level is the probability that demand will not exceed the stocking level in any period.	True
True or false? The EOQ and ROP models are appropriate if unused items can be carried over and used or sold in subsequent periods.	True
True or false? The two basic issues in inventory are how much to order and when to order.	True
True or false? In the A-B-C approach, items with very high unit costs are always classified as "A" items.	False. The A-B-C approach classifies items in order of importance, A being the most important, B moderately important and C least important.
Assumptions of the basic EOQ model	Annual demand requirements are known and constant, lead time does not vary, each order is received in a single delivery
Dairy items, fresh fruit, and newspapers are items that	are subject to deterioration and spoilage
In an A-B-C system, the typical percentage of the number of items in an inventory for A items is about	10%
In the A-B-C classification system, items which account for 15% of the total dollar volume for a majority of the inventory items would be classified as:	C items
Generally considered reasons for holding inventory	smoothing requirements on operations, decoupling internal operations, meeting anticipated demand, minimizing carrying costs
The EOQ is most relevant for:	determining the fixed order quantities
The goal of basic EOQ model is to:	minimize the sum of ordering and holding costs
In the basic EOQ model, if annual demand doubles, the effect on EOQ is:	it increases by about 40%
In the basic EOQ model, an annual demand of 40 units, an ordering cost of $5, and a holding cost of $1/unit per year will result in an EOQ of	20
Determinants of the reorder point	rate of demand, length of lead time, lead time variability, stockout risk
If no variations in demand or lead time exist, the ROP will equal:	expected usage during lead time
In a single period model, if shortage and excess costs are equal, then the optimum service level is	.5
In a supermarket, a vendor's restocking the shelves every Monday morning is an example of:	fixed order interval
Inventory turnover	cost of goods sold/average aggregate inventory value
weeks of supply	(average aggregate inventory value/cost of goods sold)*52 weeks
cost of goods sold	the annual cost for a company to produce the goods or services provided to customers
average aggregate inventory value	the total value of all items held in inventory for the firm valued at cost
weeks of supply	used when distribution inventory is dominant, a measure of how many weeks' worth of inventory is in the system at a particular point in time
bullwhip effect	the variability in demand is magnified as we move from the customer to the producer in the supply chain, indicates a lack of synchronization among supply chain members
possible causes of bullwhip effect	volume and transportation discounts, promotional sales, inflated orders, long cycle times, demand forecasting
demand side products and be categorized as:	funtional or innovative
stable supply process	the manufacturing process and the underlying technology are mature and the supply base is well established
evolving supply process	the manufacturing process and the underlying technology are still under early development and are rapidly changing. the supply base may be limited in both size and experience
Hau Lee characterizes 4 types of supply chain strategies	efficient, risk hedging, responsive, agile

Which of the following is implied by an annual service level of 95%?

Terms in this set (20) Which one of the following is implied by an annual service level of 95 percent? Approximately 95 percent of all demand will actually be satisfied directly from on-hand inventory.

Which of the following is not included in ordering cost?

Obsolescence factors are not included in the ordering cost of the product since they are always accounted for in the books of the business as depreciation or impairment cost.

Which of the following is the EOQ model most relevant to?

The EOQ model is most relevant for which one of the following? Determining fixed order quantities.

Which of the following is not an assumption of the basic EOQ model quizlet?

The assumptions behind the economic order quantity (EOQ) model include all of the following EXCEPT: a constant rate of demand.

In a single-period model, if shortage and excess costs are equal, then the optimum service level is

exam 3

Which of the following is implied by an annual service level of 95%?

Which of the following is not included in ordering cost?

Which of the following is the EOQ model most relevant to?

Which of the following is not an assumption of the basic EOQ model quizlet?

zusammenhängende Posts

Which category of the competency model pertains to adapting to stress setting goals adhering to rules?

Which is the most important component of the planning approach to community health Patch model quizlet?

The business process management cycle begins by creating a model of the existing business processes.

What model of electronic business provides transactions between the companies via the internet?

Elite partner wer ist das model

Which force do Heckscher and Ohlin identify as the basic determinant of comparative advantage and trade?

Idea that we possess different types of intelligence rather than a single level of intelligence

The grace period for an individual health insurance policy being paid on a quarterly basis is:

All of the following are characteristics of the administrative decision making model except

Which diagnostic technique records the patients heart rates and rhythms over 24 hour period?

Werbung

NEUESTEN NACHRICHTEN

Wissen Sie wissen Sie wer Radetzky ist

Wie besprochen sende ich Ihnen im Anhang die?

Wie heißen die adoptivkinder von christina aguilera

To evaluate quality, it is helpful when organizations develop ______ system.

What models of decision making explain how managers really come to decisions

Which of the following outlines the overall authority to perform an IS audit

Wo bekommt man am meisten für seine Rente?

Duplex zimmer bedeutung

Transformers 5 deutsch der ganze film

What is the Internet standard for how Web pages are formatted and displayed?

Werbung

Populer

Werbung

Um

Legal

Hilfe

Sozial