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backorder

A ______ is a customer order that a company accepts in one period but promises to deliver at a later point in time.

Capacity utilization is 60%, and capacity efficiency is 90%.

A bakery normally can make 100 loaves of bread per day even though it has the capacity to make 150 loaves of bread a day. The actual number made is 90 loaves per day. Which of the following can be concluded?

buyback

A bookstore enters into a contract with a book publisher that allows the bookstore to return unsold books to the publisher. This is an example of a ______ contract between the buyer and supplier.

5

A company's annual cost of goods sold is $200,000. Its beginning and ending inventories are 60,000 and 20,000, respectively. What is its inventory turnover?

chase strategy

A demand matching strategy in which production is geared toward producing whatever amount of goods are needed to meet demand is a _____

the firm is converting its inventory to profits faster

A high inventory turnover ratio indicates that ____

reduces investment in inventory and reduces space requirements

A just in time strategy ______

64

A local store expects to sell 200 pairs of designer shoes a year. The purchase price of each pair of shoes is $100. The annual holding costs for the shoes are 10% of the unit purchase price. The ordering cost is $40 per order. What is the time between orders (in days) if the store opens 320 days a year?

40

A local store expects to sell 200 pairs of specialty shoes a year. The annual holding costs for the shoes are $10 per pair, per year. The ordering cost is $40 per order. What is the economic order quantity?

stable; fixed-order

For products that have a ______ demand, the ______ lot-sizing techniques of are appropriate.

supply; demand

The sales and operations planning process attempts to match the company's ______ to ______.

master scheduling, material requirements planning, capacity requirements planning, detailed scheduling

The sequence of operational planning and control tasks that follow sales and operations planning is ______.

disaggregate products to end items *

To facilitate production, it is necessary to ______.

tracking

UPS uses a coding scheme known as MaxiCode 2-D in its package labels for ______.

50

Weekly demand for a company's filtered water is 50 bottles. The cost of ordering the water is $10 per order, and holding costs are $0.8 per bottle, per year. The company operates 50 weeks in a year. Lead time is 6 weeks. If demand and lead time are assumed to be constant, what is the reorder point?

to minimize the gap between the capacity available in the system and the capacity that is required to meet de mand

What is the goal of strategic capacity planning?

bottleneck

When workflow of an operation is limited, partially completed units will accumulate at the ______.

bill of materials

Which file contains data about materials, components, parts, and the assembling sequence of an end item?

trucks

Which mode of transportation provides great reach and flexibility?

Level strategy generates high costs of hiring, training, and laying off employees

Which of the following about level strategy is NOT true?

shortages are allowed

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

to increase shortages artificially

Which of the following is NOT a reason why companies hold inventory?

supplier human resource management

Which of the following is NOT a task in the supplier management process?

wormhole

Which of the following is NOT one of the basic modes of transportation?

higher costs of hiring, training, and laying off employees

Which of the following is a disadvantage of the chase strategy of sales and operations planning?

higher costs of hiring, training, and laying off employees

Which of the following is a disadvantage of the chase strategy of sales and operations planning?

back orders

Which of the following is an option to influence demand?

planned order releases

Which of the following is an output of MRP?

muri — waste and decreased productivity resulting from poor system design

Which of the following types of waste is correctly matched with it s description

muri—waste and decreased productivity resulting from poor system design

Which of the following types of waste is correctly matched with its description?

materials requirements planning *

Which system calculates materials, subassemblies, an d components required for end item production?

materials requirements planning *

Which system calculates materials, subassemblies, and components required for end item production?

1200 boxes

restaurant uses 300 boxes of napkins each month. They purchase napkins at a price of $10 per box and the cost to order napkins is $200 per order. The annual carrying cost for one box of napkins is 10% of its price. Assuming 12 months per year. The economic order quantity for napkins i s

holding; ordering

The optimal order quantity for companies should achieve a balance between ______ and ______ costs.

it must increase its safety stock by approximately 210 units.

A product's usage is normally distributed with a weekly average demand of 2,000 units and a weekly standard deviation of 125. The p roduct's lead time is 4 weeks. Currently, the reorder point for this product is 8,200. If the company would like to have a service level of 95% for this product then (the corresponding Z value is 1.64 for 95% service level)

that does not add value to the product or service

According to lean philosophy, we should eliminate any activity or process ____

balancing workload

An example of a short-term capacity planning decision is ______.

customer orders

An input to the master schedule is the ______.

level

An oil refinery with limited process flexibility but high steady output volume should choose a ______ strategy for sales and operations planning.

level; constant; inventories

By using a ______ production strategy, companies maintain ______ production and workforce levels, and they use ______ to bridge the gap between demand and supply.

maximum; output

Capacity is the ______ amount of ______ an operation is capable of producing in a given time period.

senior executive *

Changes to the master schedule during the frozen time fence may be requested only by the _____

senior executive

Changes to the master schedule during the frozen time fence may be requested only by the ______.

level

Companies that continuously produce the same quantity of goods every period, calculated based on the total demand for these goods, are best suited to a ______ strategy to create sales and operations planning plans.

he maximum rate of output achieved by an operation, a process, or a manufacturing or service facility that is producing under ideal conditions

Design capacity is ______.

the capacity that can be achieved given the actual changes in product mix, machines and equipment that require periodic maintenance, scheduling changes, and workers wh o take time off for lunch, absences, and other needs

Effective capacity is _____

higher; efficient

In general, the ______ a firm's inventory turnover ratio, the more ______ the firm's use of inventory.

making small fixes in a steady stream of improvements

In lean philosophy, the incrementalism refers to ______.

improvement may not come from any one big fix, but from a steady stream of small adjustments

In lean system, increamentalism holds that ______ .

Category A

In the ABC classification, continuous inventory review system is usually best suited for the products in

mixed time fence

In the time fencing approach, the master schedule time horizon is divided into three portions which include all the following EXCEPT for ______ .

holding costs

Insurance to protect inventory is a type of ______.

the practices used to ensure a continuous and uninterrupted flow of materials and products from suppliers to manufacturers to the final consumers

Integrated logistics management (ILM) refers to ______.

movement; materials and products

Integrated logistics management refers to the practices used to control the ______ of products (and the associated costs) so that there is a continuous and uninterrupted flow of ______ from suppliers to manufacturers to the final consumers.

holding

Interest costs on the money invested in the inventory is considered a ______ cost.

lower; chase; level

Inventory levels are ______ when using a ______ strategy as opposed to a ______ strategy to create a sales and operations planning plan.

the ratio of (Annual Cost of Goods Sold) to (Annual Average Inventory Investment)

Inventory turnover measured annually is ______

truck

The mode that represents the highest percentage of U.S. transportation cost in recent years is _____

in-house

Most small companies handle the order fulfillment process ______.

nonvalue adding activities

Muda means waste from ______.

aggregate planning

Sales and operations planning is also known as ______.

reorder point

The ______ is the amount to which the inventory of an item should fall before the firm places a new order to replenish it.

master; end products

The ______ schedule specifies what and how many ______ are to be produced and when.

available-to-promise

The availability of ______ inventory will enable the company's marketing function to generate new customer orders and commit to realistic delivery dates.

changes in consumer demand are magnified as one moves upstream in the supply chain

The bullwhip effect suggests that ______

vendor-managed inventory; lean logistics

The fact that Procter & Gamble manages inventory of the items it supplies to Walmart in all of its retail locations is known as using a ______ as an approach to ______.

just-in-time inventory system

The fact that the warehouses of Sony's suppliers are located in close proximity to its factories is an example of having a supplier management program for Sony to operate its ______.

customer satisfaction

The factors that affect service capacity include all of the following except ______.

balancing efficiency

The goals of supplier management include the following except ______.

pull

The lean philosophy is characterized by ______.

Cross docking warehouses

_____ are storage facilities where incoming shipments from various suppliers are sorted and batched and then delivered to buyers and spend little or no time in storage

Work-in-process

_____ inventory includes materials or semifinished goods that have had some work done on them but are not completed.

Cross-docking warehouses

______ are storage facilities where incoming shipments from various suppliers are sorted and batched and then delivered to buyers and spend little or no time in storage.

Design; ideal

______ capacity is the maximum rate of output achieved by an operation under ______ conditions.

Reverse logistics

______ is a warehouse function that deals with product returns and disposing or recycling of packaging materials.

Safety stock

______ is held to respond to the uncertainties in demand and supply levels.


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