Explain physical inventory-taking technique, Operation Management

Assignment Help:

Question 1 Shortage costs are precise and easy to measure.

Question 2 Savings from reduced inventory results in increased profit.

Question 3 Using the probability approach we assume that the demand over a period of time is normally distributed.

Question 4 One of the daily, delicate balancing acts that Logistics managers have to perform involves the trade-off between customer satisfaction and cost to serve.

Question 5 Cycle counting is a physical inventory-taking technique in which inventory is counted on a frequent basis rather than once or twice a year.

Question 6 The fixed-order quantity inventory model favors less expensive items because average inventory is lower.

Question 7 Computer inventory systems are often programmed to produce a cycle count notice in which of the following case? A. When the record shows a near maximum balance on hand B. When the record shows positive balance but a backorder was written C. When quality problems have been discovered with the item D. When the item has become obsolete E. When the item has been misplaced in the stockroom .

Question 8 Which of the following is the set of all cost components that make up the fixed-order quantity total annual cost (TC) function? A. Annual purchasing cost, annual ordering cost, fixed cost B. Annual purchasing cost, annual ordering cost, fixed cost C. Annual holding cost, annual ordering cost, annual purchasing cost D. Annual lead time cost, annual holding cost, annual purchasing cost E. Annual unit cost, annual set up cost, annual purchasing cost

Question 9 The Pareto principle is best applied to which of the following inventory systems? A. EOQ B. Fixed-time period C. ABC classification D. Fixed-order quantity E. Single-period ordering system

Question 10 Using the fixed-time period inventory model, and given an average daily demand of 15 units, 3 days between inventory reviews, 1 day for lead time, 30 units of inventory on hand, a service probability of 98 percent, and a standard deviation of daily demand is 3 units, which of the following is the order quantity? A. About 30.4 B. About 36.3 C. About 42.3 D. About 56.8 E. About 59.8


Related Discussions:- Explain physical inventory-taking technique

Comparing the concept of viewing a firm''s suppliers explain, Provide at le...

Provide at least 3 different factors when comparing the concept of viewing a firm's suppliers as adversaries with viewing them as partners.

Explain uninformed aspiring international business executive, Our Internati...

Our International Management text cites in Reading 1.2 that:"U.S Management theories contain a number of idiosyncrasies not necessarily shared by management elsewhere" and then pro

What value-added components should blockbuster incorporate, What value-adde...

What value-added components must blockbuster incorporate into its current movie rental business to survive in the environment today?

Explain cars tend to break down at the rate of two per hour, During the cam...

During the campus Spring Fling, the bumper car amusement attraction has a problem of cars becoming disabled and in need of repair. Repair personnel can be hired at the rate of $20

Explain social responsibility on the part of businesses, What are the argum...

What are the arguments for and against social responsibility on the part of businesses? Research the topic and discuss. In addition, which set of arguments is more compelling?

Explain demand is estimated to be normally distributed, Henrique's Correa's...

Henrique's Correa's bakery prepares all its cakes between 4am and 6am so they will be fresh when customers arrive. Day-old cakes are virtually always sold but at a 50% discount off

Describe what is customer relationship management, What is Customer Relatio...

What is Customer Relationship Management? Describe the four-step framework for one-to-one marketing that can be adapted to CUSTOMER RELATIONSHIP MANAGEMENT marketing?

How many stamping machines are required, Bloomsday Outfitters produces T-sh...

Bloomsday Outfitters produces T-shirts for road races. They need to acquire some new stamping machines to produce 30,000 good T-shirts per month. Their plant operates 200 hours per

Describe why managers should know about research, Q1. Explain why managers ...

Q1. Explain why managers should know about research. Q2. BrokenViolin956 Read the entrepreneur's dilemma and the questions that follow. Identify the legal issue(s) and apply

Explain critical path, Explain Critical Path. This is that sequence of ...

Explain Critical Path. This is that sequence of activities that decide the complete project duration. Critical Path is formed by critical activities. This path consumes maximum

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd