MGSC 346 Final Quiz

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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


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