Question 1

In making any decision that affects the size of inventory, what are the four categories of cost that must be considered?
(1) __________________________________________
(2) __________________________________________
(3) __________________________________________
(4) __________________________________________.

Accepted Answer

The answer of In making any decision that affects the...

Question 2

Using the fixed-order-quantity model, what is the total ordering cost of inventory given an annual demand of 36,000 units, a cost per order of $40, and a holding cost per unit per year of $45? ______________________________________________.

Accepted Answer

The answer of Using the fixed-order-quantity model, what is the...

Question 3

What are the five purposes of inventory?
(1) _______________________________
(2) _______________________________
(3) _______________________________
(4) _______________________________
(5) _______________________________.

Accepted Answer

The answer of What are the five purposes of inventory?
(1)...

Question 4

If annual demand is 8,000 units, the ordering cost is $20 per order, and the holding cost is $12.50 per unit per year, what is the optimal order quantity using the fixed-order-quantity inventory model? _____________________________________.

Accepted Answer

The answer of If annual demand is 8,000 units, the...

Question 5

If it takes a supplier 10 days to deliver an order once it has been placed and the standard deviation of daily demand is 14, what is the standard deviation of usage during lead time? _________________________________________.

Accepted Answer

The answer of If it takes a supplier 10 days...

Question 6

What is the name of a physical inventory-taking technique that focuses only on certain items and counts more often than once or twice a year? ______________________________________.

Accepted Answer

The answer of What is the name of a physical...

Question 7

Using the fixed-time-period inventory model, and given an average daily demand of 300 units, 4 days between inventory reviews, 5 days for lead time, 1,200 units of inventory on hand, a z of 1.96, and a standard deviation of demand over the review and lead time of 12 units, what quantity should be ordered? ________________________.

Accepted Answer

The answer of Using the fixed-time-period inventory model, and given...

Question 8

Distinguish between dependent and independent demand.How are these demands treated differently?

Accepted Answer

The answer of Distinguish between dependent and independent demand.How are...

Quiz 20: Inventory Management

In making any decision that affects the size of inventory, what are the four categories of cost that must be considered? (1) (2) (3) (4) .

Using the fixed-order-quantity model, what is the total ordering cost of inventory given an annual demand of 36,000 units, a cost per order of $40, and a holding cost per unit per year of $45? ______________________________________________.

What are the five purposes of inventory? (1) _______________ (2) _ (3) _ (4) _ (5) _________________.

If annual demand is 8,000 units, the ordering cost is $20 per order, and the holding cost is $12.50 per unit per year, what is the optimal order quantity using the fixed-order-quantity inventory model? _____________________________________.

If it takes a supplier 10 days to deliver an order once it has been placed and the standard deviation of daily demand is 14, what is the standard deviation of usage during lead time? _________________________________________.

What is the name of a physical inventory-taking technique that focuses only on certain items and counts more often than once or twice a year? ______________________________________.

Distinguish between dependent and independent demand.How are these demands treated differently?

Quiz 20: Inventory Management

Using the fixed-order-quantity model, what is the total ordering cost of inventory given an annual demand of 36,000 units, a cost per order of $40, and a holding cost per unit per year of $45? ______________________________________________.

What are the five purposes of inventory? (1) _______________________________ (2) _______________________________ (3) _______________________________ (4) _______________________________ (5) _______________________________.

If annual demand is 8,000 units, the ordering cost is $20 per order, and the holding cost is $12.50 per unit per year, what is the optimal order quantity using the fixed-order-quantity inventory model? _____________________________________.

If it takes a supplier 10 days to deliver an order once it has been placed and the standard deviation of daily demand is 14, what is the standard deviation of usage during lead time? _________________________________________.

What is the name of a physical inventory-taking technique that focuses only on certain items and counts more often than once or twice a year? ______________________________________.

Distinguish between dependent and independent demand.How are these demands treated differently?

What are the five purposes of inventory? (1) _______________ (2) _ (3) _ (4) _ (5) _________________.