Operations management game
Salvage value is applied to units during which period?
After the selling season
True or false: The newsvendor model is appropriate for a setting where a customer will wait for the next shipment to show up, in cases where a store runs out of inventory.
False
What indicates the average number of hours a flow unit spends, on average, in a process?
Hours-of-supply
Inventory management is the practice of deciding on the quantity, _______ , and type of inventory in a process.
Location/place
What term describes the capability to move inventory quickly, safely, and cost-effectively?
Product transportation and handling assets
Which of these equations are true? Sales + Inventory = Q Expected Sales = Q - Expected inventory Expected Sales + Expected inventory = Q Expected Sales = Q + Expected inventory - Salvage
Sales + Inventory = Q Expected Sales = Q - Expected inventory Expected Sales + Expected inventory = Q
What is an order-up-to model?
an inventory management strategy used to determine the optimal level of inventory to order at any given time.
To reduce the average inventory level, the order quantity must _blank_.
decrease
As the order cost increases, the economic order quantity _blank_.
increases
In the saw-toothed inventory pattern, inventory _blank_ by the quantity, Q.
increases