True in regard to lean supply chain management

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Reference no: EM132198791

1. Which of the following statements is true in regard to lean supply chain management?

A supply chain can be lean as long as at least 50% of the firms along the value stream make an adequate return on their investments.

Elimination of waste in storage and sourcing automation are important factors of lean warehousing and procurement, respectively.

Small specialized plants and collaboration with suppliers are important for building lean supply chains

A & C are both true

B & C are both true

2. A company would like to find the process capability of its current processes. Specifically, the company is interested in the probability that its production process will produce a defect. After using the Normsdist function in Excel, the company found that the probabilities associated with ZLSL is .0668 and .6664 for ZUSL. What is the cumulative probability that this process will produce a defect?

66.64%

40.04%

73.32%

50.00%

None of the above

3. Which of the following statements about acceptance sampling are false

Acceptance sampling is performed on goods that already exist to determine what percentage of the products conform to specifications

The results of acceptance sampling can include accept, reject, or retest decisions

While AQL represents the producer's maximum defectives percentage, LTPD represents the customer's rejection point.

and are used so that the buyer and producer can minimize their risk of accepting (or rejecting) bad (or good) lots.

Less damage during handling and fewer product inspectors are advantages of the acceptance sampling.

4. Which of the following statements is true in regard to the difference between fixed-order and fixed-time period models?

Fixed-time period models are normally more expensive to implement than fixed-order quantity models.

On average, fixed-order quantity models enable firms to hold smaller amounts of inventory than firms using fixed-time period models.

Both fixed-order quantity and fixed-time period models operate on a perpetual review system.

All of the above statements are true

None of the above statement are true

Reference no: EM132198791

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