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

Emba, How many stamping machines are required?

How many stamping machines are required?

Explain groups differently from other employees is necessary, Compare and c...

Compare and contrast what motivates Millennials from Baby Boomers, Generation X, and Generation Y. Assess whether motivating these groups differently from other employees is necess

Illustrate overview of operational functions or departments, Illustrate the...

Illustrate the overview of operational functions or departments? Organisations create products or deliver services and act rely heavily onto operational processes to create eff

Explain do you consider them effective, Using the IT Savvy four types of th...

Using the IT Savvy four types of the CIO (page 146 IT Savvy), choose a type for each of CIO or IT leaders for all of the cases we have reviewed in this class. Give example of why y

Evolutipn of operation management, discuss the evolution of operations mana...

discuss the evolution of operations management in the last 10 years

Decision tree analysis applied to capacity expansion, Decision Tree Analysi...

Decision Tree Analysis Applied to Capacity Expansion Linear programming and computer simulation models focus on the short term question of how to use existing capacity. But the

Explain overall impression of the candidate, Does a condidate's use of a so...

Does a condidate's use of a song you like (or dislike) affect your overall impression of the candidate?

Ultimate objective, Ultimate Objective 1. Manufacturing costs: The ...

Ultimate Objective 1. Manufacturing costs: The unit cost of the product should  be estimated carefully and every effort should be made to stick to the cost standards. For

Explain how can product development costs be minimized by, How can product ...

How can product development costs be minimized by entering the market late

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