ISDS 3115 final conceptual
To reduce the risks from vertical integration, firms may choose to develop some form of formal collaboration known as A. a joint venture. B. vendor managed inventory. C. cross sourcing. D. channel assembly.
A. a joint venture.
A supply chain ends with A. a satisfied customer. B. distributors. C. suppliers. D. manufacturers.
A. a satisfied customer.
Which of the following is NOT one of the Seven Wastes? A. assignment B. overproduction C. motion D. defective product E. transportation
A. assignment
Which of the following data visualization graphs plots data that are readily divided into categories? A. bar graph B. line graph C. slope graph D. network diagram E. scatter diagram
A. bar graph
A grill assembly takes 20 washers. Instead of listing these washers separately, they are grouped into a single kit for production. How is the bill of material for the washers classified? A. planning bill B. component bill C. phantom bill D. modular bill E. low-level bill
A. planning bill
The do-it-yourselfer plucked a gallon can of base paint from the shelf of the local hardware store and handed it to Keith, the cheerful clerk at the paint counter. Their eyes met briefly and the do-it-yourselfer silently handed over sample 150C-1, Musical Mist, to the clerk. It was impractical to keep several gallons of every possible color on the shelves at the hardware store, so the paint manufacturer had created clever workaround. The workaround was a computer-based system that added predetermined quantities of pigments to a gallon can of base paint depending on the desired shade, in this case, Musical Mist. The hardware store now needed to stock only the base paint, this machine, and a small supply of paint pigments in order to create the thousands of colors in its catalog. This scenario is a prime example of A. postponement. B. the bullwhip effect. C. drop shipping. D. vendor-managed inventory.
A. postponement.
Great Lakes Barge and Baggage Company makes, among other things, battery-operated bilge pumps. Which of the following activities is NOT part of JIT? They: A. produce in long production runs to reduce the impact of setup costs. B. produce in small lots. C. continuously work on reducing setup time. D. communicate their schedules to suppliers. E. use a pull system to move inventory.
A. produce in long production runs to reduce the impact of setup costs.
Which of the following mitigation tactics could reduce economic risk? A. purchasing contracts that address price fluctuations B. franchising and licensing C. subcontractors on retainer D. multiple transportation modes and warehouses
A. purchasing contracts that address price fluctuations
Which one is NOT an application of lean principle in services? A. securing more inventory to prepare for disruption in production B. JIT in food supply management C. scheduling personnel availability at 15 minute increments to meet demand fluctuations D. inventory sharing among members of the pharmaceutical network E. improving kitchen layout at McDonald's to drive seconds out of the production process
A. securing more inventory to prepare for disruption in production
An advantage of the fixed-period inventory system is that: A. there is no physical count of inventory items when an item is withdrawn. B. orders usually are for smaller order quantities. C. no inventory records are required. D. safety stock will be lower than it would be under a fixed-quantity inventory system. E. the average inventory level is reduced.
A. there is no physical count of inventory items when an item is withdrawn.
The two most basic inventory questions answered by the typical inventory model are: A. timing of orders and order quantity. B. order quantity and cost of orders. C. order quantity and service level. D. timing of orders and cost of orders. E. ordering cost and carrying cost.
A. timing of orders and order quantity.
The two most basic inventory questions answered by the typical inventory model are: A. timing of orders and order quantity. B. order quantity and service level. C. ordering cost and carrying cost. D. order quantity and cost of orders. E. timing of orders and cost of orders.
A. timing of orders and order quantity.
All EXCEPT which of the following statements about ABC analysis are true? A. ABC analysis categorizes on-hand inventory into three groups based on annual dollar volume. B. ABC analysis suggests that all items require the same high degree of control. C. In ABC analysis, inventory may be categorized by measures other than dollar volume. D. ABC analysis is an application of the Pareto principle. E. ABC analysis suggests that there are the critical few and the trivial many inventory items.
B. ABC analysis suggests that all items require the same high degree of control.
Which of the following statements regarding big data is FALSE? A. Walmart's databases contain more than 2.5 petabytes. B. Data collection is so massive that it is now measured in gigabytes. C. One terabyte equals approximately one trillion bytes. D. Digital data can be collected from web sites, credit cards, point-of-sale records, social media, and operational environments. E. Big data requires sophistication in how it is stored, processed, and analyzed.
B. Data collection is so massive that it is now measured in gigabytes.
How can a reduction of in-transit inventory be encouraged? A. use of trains, not trucks B. supplier location near plants C. low-cost, global suppliers D. high setup costs E. low carrying costs
B. supplier location near plants
ABC analysis is based upon the principle that: A. all items in inventory must be monitored very closely. B. there are usually a few critical items, and many items that are less critical. C. as with grade distributions in many MBA courses, there should be more medium-level "B" items than either "A" or "C" items. D. more time should be spent on class "C" items because there are many more of them. E. an item is critical if its usage is high.
B. there are usually a few critical items, and many items that are less critical.
Which of the following would NOT generally be a motive for a firm to hold inventories? A. to hedge against inflation B. to minimize holding costs C. to decouple various parts of the production process D. to take advantage of quantity discounts E. to provide a selection of goods for anticipated customer demand and to separate the firm from fluctuations in that demand
B. to minimize holding costs
Which of the following is specifically characterized by continuous and forced problem solving via a focus on throughput and reduced inventory? A. Lean operations B. Just-in-time (JIT) C. kanban D. Material requirements planning (MRP) E. Toyota Production System (TPS)
B. Just-in-time (JIT)
What is a list of quantities of components, ingredients, and materials required to make a product? A. engineering change notice B. bill-of-material C. purchase order D. master production schedule
B. bill-of-material
Which of the following statements is true regarding cross-sourcing? A. Cross-sourcing enhances technological skills. B. Cross-sourcing develops the ability to produce goods or services previously purchased or actually buying a supplier or distributor. C. Cross-sourcing describes suppliers who become part of a company coalition. D. Cross-sourcing uses one supplier for a component and a second supplier for another component, where each supplier acts as a backup for the other.
D. Cross-sourcing uses one supplier for a component and a second supplier for another component, where each supplier acts as a backup for the other.
Which of the following is specifically characterized by continuous and forced problem solving via a focus on throughput and reduced inventory? A. kanban B. Lean operations C. Material requirements planning (MRP) D. Just-in-time (JIT) E. Toyota Production System (TPS)
D. Just-in-time (JIT)
Which of the following is specifically characterized by continuous and forced problem solving via a focus on throughput and reduced inventory? A. kanban B. Material requirements planning (MRP) C. Toyota Production System (TPS) D. Just-in-time (JIT) E. Lean operations
D. Just-in-time (JIT)
A response strategy requires suppliers be selected based primarily on A. product development skills. B. cost. C. being willing to share information. D. capacity, speed, and flexibility.
D. capacity, speed, and flexibility.
A lawnmower assembly plant uses a variety of nuts, bolts, screws, and other fasteners in its operation. Its supplier delivers these items directly to the point of use on the assembly line and ensures that there are always sufficient quantities of fasteners to maintain the production schedule. This is an example of A. e-procurement. B. postponement. C. single stage control of replenishment. D. vendor-managed inventory.
D. vendor-managed inventory.
Perform a visual inspection on the following dataset. Identify the number of cells that need to be cleaned in Column D. A. 2 B. 1 C. 5 D. 4 E. 0
D. 4
Which of the following data visualization graphs provides a bestminus−fit line through a central tendency of points on a graph? A. scatter diagram B. line graph C. slope graph D. histogram E. regression line
E. regression line
Which one of the following is a characteristic of a JIT partnership? A. active pursuit of vertical integration B. third-party logistics never used C. frequent deliveries in large lot quantities D. maximal product specifications imposed on supplier E. removal of incoming inspection
E. removal of incoming inspection
Which of the following lot-sizing techniques results in the lowest holding costs? A. EOQ B. the quantity discount model C. POQ D. Wagner-Whitin algorithm E. lot-for-lot
E. lot-for-lot
The purpose of safety stock is to: A. protect the firm from a sudden decrease in demand. B. eliminate the possibility of a stockout. C. control the likelihood of a stockout due to variable demand and/or lead time. D. replace failed units with good ones. E. eliminate the likelihood of a stockout due to erroneous inventory tally.
C. control the likelihood of a stockout due to variable demand and/or lead time.
Which of the following business analytics tools is designed to explore very large datasets, looking for relevant patterns or relationships? A. linear programming B. cluster analysis C. data mining D. cohort analysis E. mapping and tracking
C. data mining
The advantage of having few suppliers is to A. look for short-term attributes. B. take advantage of diseconomies of scale. C. form a long-term relationship. D. pursue low cost.
C. form a long-term relationship.
A single-period inventory model is NOT applicable for A. newspapers. B. seasonal goods. C. furniture. D. milk.
C. furniture.
Which of the following is not a goal of JIT partnerships? A. removal of unnecessary activities B. removal of in-transit inventory C. inspect all incoming shipments to ensure zero defects D. removal of in-plant inventory E. All of the above are goals of JIT partnerships.
C. inspect all incoming shipments to ensure zero defects
The main trait of a single-period model is that: A. the cost of a shortage cannot be determined accurately. B. the order quantity should usually equal the expected value of demand. C. inventory has limited value after a certain period of time. D. it has the largest EOQ sizes.
C. inventory has limited value after a certain period of time.
Trucking A. is the least used transportation mode for manufacturing goods. B. does not play a role in multimodal shipping. C. is increasingly using computers to manage its operations. D. is one of the least flexible transportation modes.
C. is increasingly using computers to manage its operations.
Which of the following strategies is part collaboration, part purchasing from few suppliers, and part vertical integration? A. horizontal integration B. virtual companies C. keiretsu networks D. joint ventures
C. keiretsu networks
The advantage of having many potential suppliers is their willingness to A. provide innovations. B. participate in JIT. C. offer lower prices in the short term. D. provide technical expertise.
C. offer lower prices in the short term.
Because most services cannot be inventoried, there is little place for JIT to help service organizations achieve competitive advantage. True False
False
Which of the following statements is FALSE? A. Descriptive analytics analyzes past data to predict the future. B. Prescriptive analytics characterizes and summaries data to facilitate understanding. C. Predictive analytics invokes advanced optimization tools to recommend a strategy or action. D. All of the above. E. None of the above.
D. All of the above.
Which of the following is NOT one of the four categories (areas) to click-and-drag fields into when using the PivotTable function? A. Filters B. Rows C. Values D. Buckets E. Columns
D. Buckets
What is the term of shipping directly from the supplier to the end consumer rather than from the seller, saving both time and reshipping costs? A. Direct shipping B. Postponement C. Vendor-managed inventory D. Drop shipping
D. Drop shipping
What is an information system for identifying and planning the enterprise-wide resources needed to take, make, ship, and account for customer orders? A. MRP B. SCM C. EIS D. ERP
D. ERP
Which one of the following statements is TRUE regarding JIT inventory? A. It hides variability. B. It exists just in case something goes wrong. C. It increases if setup costs decrease. D. It is the minimum inventory necessary to keep a perfect system running. E. It is minimized with large lot production.
D. It is the minimum inventory necessary to keep a perfect system running.
What is the term for an approach that seeks efficiency of operations through the integration of all material acquisition, movement, and storage activities? A. E-procurement B. Third-party logistics C. Distribution management D. Logistics management
D. Logistics management
Which of the following mitigation tactics could reduce economic risk? A. subcontractors on retainer B. multiple transportation modes and warehouses C. franchising and licensing D. purchasing contracts that address price fluctuations
D. purchasing contracts that address price fluctuations
Which of the following allows a segment of the master schedule to be designated as "not to be rescheduled?" A. system nervousness B. pegging C. freeze point D. time fence
D. time fence
The minimum record accuracy required for successful MRP is approximately which of the following? A. lower than 90% B. 95% C. 97% D. 99% E. 90%
D. 99%
Using the raw data for Thompson Industries' Suppliers provided below, analytics manager Vicky Luo wishes to set up Conditional Formatting in Excel to determine 5 suppliers determine 5 suppliers with the largest with the largest total purchases values total purchases values in column Upper DD. Which Conditional Formatting 'Rule Type' should she select? A. "Format only cells that containFormat only cells that contain" B. "Format all cells based on their valuesFormat all cells based on their values" C. "Format only top or bottom ranked valuesFormat only top or bottom ranked values" D. "Format only unique or duplicate valuesFormat only unique or duplicate values"
C. "Format only top or bottom ranked valuesFormat only top or bottom ranked values"
Using the data provided below, supply chain manager Jonathan Jackson wishes to use Excel's Conditional Formatting to highlight any entries in column B that are at least as large as at least as large as the individual the individual threshold levels levels for distributor bonuses contained in cells Upper C 2 :C 10cells C2:C10 (not shown in the figure). What formula should go into the box Format values where this formula is true:? equals=B2equals=Upper C 2C2 equals Upper B 2 greater than equals Upper C 2=B2>=C2 equals Upper B 2 greater than equals $C$ 2=B2>=$C$2 equals Upper B 2 less than equals=B2<=Upper C 2
=B2>=C2
Which of the following statements is TRUE regarding data management? A. Data can be stored three ways: character, pattern, or numeric. B. Consistency refers to the degree of conformity of a measure to a standard value. C. Once managers conclude that the data is consistent, they look for completeness. D. Mangers need to identify "outliers" after they are accepted into the dataset. E. Managers should always remove the entire record with any missing values.
A. Data can be stored three ways: character, pattern, or numeric.
Which of the following statements is TRUE? A. Descriptive analytics characterizes and summaries data to facilitate understanding. B. Descriptive analytics analyzes past data to predict the future. C. Prescriptive analytics analyzes past data to predict the future. D. Predictive analytics invokes advanced optimization tools to recommend a strategy or action. E. Prescriptive analytics characterizes and summaries data to facilitate understanding.
A. Descriptive analytics characterizes and summaries data to facilitate understanding.
Which of the following is specifically characterized by the elimination of waste through a focus on exactly what the customer wants? A. Lean operations B. kanban C. Just-in-time (JIT) D. Toyota Production System (TPS) E. Material requirements planning (MRP)
A. Lean operations
What is a dependent demand technique that uses a bill-of-material, inventory, expected receipts, and a master production schedule to determine material requirements? A. Material requirements planning (MRP) B. Material requirements method (MRM) C. Periodic order planning (POP) D. Economic order method (EOM)
A. Material requirements planning (MRP)
Which of the following statements is NOT true regarding the bullwhip effect? A. Inaccurate information results in distortions and fluctuations, causing what is known as the bullwhip effect. B. The bullwhip effect occurs as order are relayed from retails, to distributors, to wholesalers, to manufacturers, with fluctuations decreasing at each step in the sequence. C. Bullwhip fluctuations in the supply chain increase the costs associated with inventory, transportation, shipping and receiving. D. Bullwhip fluctuations in the supply chain decrease customer service and profitability.
B. The bullwhip effect occurs as order are relayed from retails, to distributors, to wholesalers, to manufacturers, with fluctuations decreasing at each step in the sequence.
A grocery store is attempting to implement a kanban system. Which of the following would NOT be an application of kanbans? A. A red light on top of the cashier's lane signals that the cashier needs additional change replenished. B. The meat department stocking up on turkeys before Thanksgiving. C. An empty doughnut tray signaling the bakery to produce 2 dozen glazed doughnuts. D. A line of 5 people in the Chinese department signaling the department to heat 5 orders of crab rangoon. E. All of the above are kanban applications.
B. The meat department stocking up on turkeys before Thanksgiving.
Which of the following business analytics tools take(s) large volumes of data and potential variables to form groupings of variables to identify complex paths and associations? A. cohort analysis B. neural networks C. mapping and tracking D. cluster analysis E. opinion mining
B. neural networks
Which of the following business analytics tools take(s) large volumes of data and potential variables to form groupings of variables to identify complex paths and associations? A. cohort analysis B. neural networks C. opinion mining D. cluster analysis E. mapping and tracking
B. neural networks
Which of the following industries has the highest supply chain cost as a percentage of sales? A. automobile B. petroleum C. restaurants D. metals
B. petroleum
An analytics manager, Mark, highlighted all empty cells using Excel's Conditional Formatting tool for the following dataset. What steps did he take? A. Select A6:H17; Rule type: Format only cells that contain, select 0; Color yellow. B. Select A6:H17; Rule type: Format only cells that contain, select Blanks; Color yellow. C. Select A1:H12; Rule type: Format only top or bottom ranked values, select bottom 10%; Color yellow. D. Select A6:H17; Rule type: Format only top or bottom ranked values, select bottom 5%; Color yellow.
B. Select A6:H17; Rule type: Format only cells that contain, select Blanks; Color yellow.
Which of the following statements about ABC analysis is FALSE? A. Criteria other than annual dollar volume, such as high holding cost or delivery problems, can determine item classification in ABC analysis. B. In ABC analysis, "A" items should have tighter physical inventory control than "B" or "C" items have. C. ABC analysis is based on the presumption that all items must be tightly controlled to produce important cost savings. D. In ABC analysis, forecasting methods for "C" items may be less sophisticated than for "A" items. E. ABC analysis is based on the presumption that controlling the few most important items produces the vast majority of inventory savings.
C. ABC analysis is based on the presumption that all items must be tightly controlled to produce important cost savings.
What is required for an MRP system to work? A. A high number of purchase orders outstanding B. Long lead times C. Accurate inventory records D. A small bill of material
C. Accurate inventory records
Which of the following is FALSE regarding the links between JIT and quality? A. If consistent quality exists, JIT allows firms to reduce all costs associated with inventory. B. Inventory hides bad quality; JIT immediately exposes it. C. JIT increases the cost of obtaining good quality. D. JIT reduces the number of potential sources of error by shrinking queues and lead times. E. As quality improves, fewer inventory buffers are needed; in turn, JIT performs better.
C. JIT increases the cost of obtaining good quality.
Which of the following is NOT one of the assumptions of fixed-period systems? A. Items are independent of one another. B. The only relevant costs are the ordering and holding costs. C. Lead times are variable. D. Lead times are known.
C. Lead times are variable.
Toyota attempts to have at least two suppliers, each in a different geographical region, for each component to mitigate which type of supply chain risk? A. Economic B. Political C. Natural catastrophes D. Distribution
C. Natural catastrophes
Which of the following statements regarding a pull system is TRUE? A. Work is pulled to the downstream stations before it is actually needed. B. Manufacturing cycle time is increased. C. Problems become more obvious. D. Large lots are pulled from upstream stations. E. None of the above is true of a pull system.
C. Problems become more obvious.
Which of the following is specifically characterized by a focus on continuous improvement, respect for people, and standard work practices? A. kanban B. Just-in-time (JIT) C. Toyota Production System (TPS) D. Material requirements planning (MRP) E. Lean operations
C. Toyota Production System (TPS)
What is the term for a company that relies on a variety of supplier relationships to provide services on demand? A. Integrated network B. Kanban company C. Virtual company D. Keiretsu network
C. Virtual company
The fixedminus−period inventory system requires more safety stock than a fixed-quantity system because: A. this model is used for products that have large standard deviations of demand. B. replenishment is not instantaneous. C. a stockout can occur during the review period as well as during the lead time. D. this model is used for products that require very high service levels. E. setup costs and holding costs are large.
C. a stockout can occur during the review period as well as during the lead time.
Which one of the following is a characteristic of a JIT partnership? A. active pursuit of vertical integration B. maximal product specifications imposed on supplier C. removal of incoming inspection D. frequent deliveries in large lot quantities E. third-party logistics never used
C. removal of incoming inspection
Which of the following should be higher in P systems than Q systems? A. demand B. lead time C. safety stock D. order size E. order spacing
C. safety stock
How can a reduction of in-transit inventory be encouraged? A. high setup costs B. low-cost, global suppliers C. supplier location near plants D. low carrying costs E. use of trains, not trucks
C. supplier location near plants
Which of the following lot-sizing techniques results in the lowest holding costs? A. the quantity discount model B. POQ C. lot-for-lot D. Wagner-Whitin algorithm E. EOQ
C. lot-for-lot
Which of the following statements is TRUE about the MRP plan when using lot-for-lot ordering? A. The quantity and gross requirements for a child item is always equal to the quantity of net requirements for its parent. B. The quantity of gross requirements for a child item is always equal to the quantity of planned order releases for its parent. C. The quantity of gross requirements for a child item is always equal to the quantity of gross requirements for its parent. D. The quantity of gross requirements for a child item is equal to the quantity of planned order release(s) multiplied by the number of child items used in the parent assembly. E. All of the above are true.
D. The quantity of gross requirements for a child item is equal to the quantity of planned order release(s) multiplied by the number of child items used in the parent assembly.
Which of the following mitigation tactics is NOT designed to reduce the risk of information loss or distortion? A. secure IT systems B. redundant databases C. training of supply chain partners on the proper interpretations and use of information D. alternate sourcing
D. alternate sourcing
Supply chain managers outsource logistics to meet three goals: A. lower delivery costs, improve delivery reliability and speed, and provide better market response. B. drive down inventory investment, lower delivery costs, and provide better market response. C. drive down inventory investment, improve delivery reliability and speed, and provide better market response. D. drive down inventory investment, lower delivery costs, and improve delivery reliability and speed.
D. drive down inventory investment, lower delivery costs, and improve delivery reliability and speed.
Airfreight A. is the oldest means of freight transportation. B. is the best way to transport natural gas. C. represents about 10% of the tonnage shipped in the United States. D. is a fast-growing mode of shipping.
D. is a fast-growing mode of shipping.
Which of the following is characteristic of lean operations? A. specialty workers with no cross-training B. easy, mindless jobs C. inventory buffers between each workstation to minimize system downtime D. low space requirements E. no supplier partnerships
D. low space requirements
Speech recognition and self-driving cars are applications of A. mapping and tracking. B. cluster analysis. C. cohort analysis. D. machine learning. E. opinion mining.
D. machine learning.
Which of the following data visualization graphs uses arcs and nodes to provide a representation of flow through a system? A. bar graph B. line graph C. scatter diagram D. network diagram E. slope graph
D. network diagram
Which of the following business analytics tools take(s) large volumes of data and potential variables to form groupings of variables to identify complex paths and associations? A. mapping and tracking B. cohort analysis C. opinion mining D. neural networks E. cluster analysis
D. neural networks
Which of the following industries has the highest supply chain cost as a percentage of sales? A. automobile B. restaurants C. metals D. petroleum
D. petroleum
Which of the following statements about ABC analysis is FALSE? A. In ABC analysis, "A" items should have tighter physical inventory control than "B" or "C" items have. B. ABC analysis is based on the presumption that controlling the few most important items produces the vast majority of inventory savings. C. Criteria other than annual dollar volume, such as high holding cost or delivery problems, can determine item classification in ABC analysis. D. In ABC analysis, forecasting methods for "C" items may be less sophisticated than for "A" items. E. ABC analysis is based on the presumption that all items must be tightly controlled to produce important cost savings.
E. ABC analysis is based on the presumption that all items must be tightly controlled to produce important cost savings.
Which of the following is NOT a goal of JIT partnerships? A. removal of unnecessary activities B. removal of in-transit inventory C. removal of in-plant inventory D. obtain improved quality and reliability E. All of the above are goals of JIT partnerships.
E. All of the above are goals of JIT partnerships.
Which of the following is NOT a goal of JIT partnerships? A. removal of in-transit inventory B. removal of in-plant inventory C. obtain improved quality and reliability D. removal of unnecessary activities E. All of the above are goals of JIT partnerships.
E. All of the above are goals of JIT partnerships.
Which one of the following statements is TRUE about the kanban system? A. The supplier workstation signals the customer workstation as soon as a batch is completed. B. It is associated with a push system. C. It is useful to smooth operations when numerous quality problems occur. D. The quantities in the containers are usually large to reduce setup costs. E. The customer workstation signals to the supplier workstation when production is needed.
E. The customer workstation signals to the supplier workstation when production is needed.
Low-level coding means that: A. the top level of the BOM is below level zero and that BOMs are not organized around the finished product. B. the code being used is the code for the lowest level in the BOM structure. C. the lowest-paid staff member in the production department performs the coding. D. a final item has only a few levels in the BOM structure. E. a component item is coded at the lowest level at which it appears in the BOM structure.
E. a component item is coded at the lowest level at which it appears in the BOM structure.
The fixed minus−period inventory system requires more safety stock than a fixed-quantity system because: A. this model is used for products that have large standard deviations of demand. B. this model is used for products that require very high service levels. C. replenishment is not instantaneous. D. setup costs and holding costs are large.
E. a stockout can occur during the review period as well as during the lead time.
In a ________, the highest and lowest values are highlighted. A. heat zone B. PivotTable C. visual inspection D. color map E. heat map
E. heat map
Excess bags of basic commodities such as flour and sugar that are stored in a restaurant's kitchen represent which of the following wastes? A. transportation B. queues C. defective product D. overproduction E. inventory
E. inventory
Demand for dishwasher water pumps is 8 per day. The standard deviation of demand is 3 per day, and the order lead time is four days. The service level is 95%. What should the reorder point be? A. about 18 B. about 32 C. about 38 D. about 24 E. more than 40
E. more than 40
The main trait of a single-period model is that: A. supply is limited. B. it has the largest EOQ sizes. C. the cost of a shortage cannot be determined accurately. D. the order quantity should usually equal the expected value of demand. E. inventory has limited value after a certain period of time.
E. inventory has limited value after a certain period of time.
