MGSC 346 Final Quiz
An MRP system provides which of the following advantages?
Automatic update of the dependent demand and replenishment schedules of components when parent schedules change.
Studies show that companies reap the greatest rewards with ERP when they
keep their ERP implementations simple.
The primary lever to reduce anticipation inventory is to
match demand rate with production rate
A form of shrinkage called ________ occurs when inventory cannot be used or sold at full value, owing to model changes, engineering modifications, or unexpectedly low demand.
obsolescence
A ____ customer is one who enters the system and remains until served
patient
_____ is a rule that allows a customer of higher priority to interurpt the service of another customer
preemptive discipline
The primary lever to reduce anticipation inventory is to
reduce the lot sizes
What is the objective that managers are trying to attain when they decide to allow customer preemption?
reduce the waiting lines of select customers
The concept of dependent demand is
that demand for an item is a function of the production plans for some other item the company produces.
which of the following is NOT considered a pressure to hold large inventories
the cost of insurance
which of the following situations requires the use of simulation as a key assumption of the single-server model is violated
the mean arrival rate exceeds the mean service rate
When is the customer population of a waiting line problem said to be infinite
when the number of customers in the system does not affect the rate at which the population generates new customers
Service providers must plan their resources just as manufacturers do. However, unlike finished goods, services cannot be
inventoried
The key inputs to an MRP include
inventory record database
The production demand for widgets for a 250-workday year is 7,500 units. Ordering costs are $25.00 per order and holding costs are $9.00 per unit per year. Four days must be allowed between order placement and order receipt. What is the EOQ, assuming known and constant variables?
204
A perpetual inventory system requires that
inventory records are always current
Lisa's Card Cache uses ABC analysis. Which of the following statements is NOT true of ABC analysis?
ABC analysis allows the company to control inventory shrinkage
Question Help Which of the following is NOT a feature of an ERP system?
Identifying the actions planners must take to stay on schedule
An individual item or product that has an identifying code and is held in inventory somewhere along the supply chain is called a
SKU
_____ is an easy-to-use computer package that is simply a spreadsheet with some macros with which simple waiting line processes may be simulated
SimQuick
Which of the following costs is NOT considered an inventory holding (or carrying) cost?
inventory transportation costs
Which of the following elements are not common to waiting-line problems?
a random-number generator
which of the following ways represents how management can improve a service system
all of the above (allocate service tasks to sequential phases, affect the rate of customer arrivals, assign more than one person to a service facility)
Which of the following is a way that managers may attempt to affect the rate of customer arrivals?
all of the above (differential pricing, special promos, advertising)
an enterprise process is a company wide process that cuts across
all of the above (functional areas, suppliers and customers, business units and geographic units)
The Bill of Resources (BOR) can be used to determine which of the following?
all of the above (when resources will be needed by a firm, what resources a firm will need, how much of a resource a firm will need)
The service analogy to the bill of materials is the
bill of resources
By devising improved work methods, management is attempting to
increase the efficiency of the servers
Lewis Machine Tools is considering reducing lot size to reduce cycle inventory. Which of the following is a change that should be made for lot size reduction to be effective?
increasing repeatability
Which of the following situations requires the use of simulation as a key assumption of the multiple-server model is violated
customers are served based on a priority discipline
Question Help ERP revolves around a single comprehensive _________ that can be made available across the entire organization.
databasse
_________ items, consisting of raw materials and work-in-process inventories, are those items whose required quantity varies with the production plans for other items held in the firm's inventory.
dependent demand
Which of the following is NOT a benefit of an MRP system?
forecasting of finished goods demand
Which of the following can put pressure on a company to carry small levels of inventory
high cost of capital
which is an example of dependent demand for manufactured goods
hospital bed sheets