Question 1

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._______________________________
2._______________________________
3._______________________________
4._______________________________
5._______________________________...

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

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 4

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 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

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 ordering...

Question 7

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...

Question 8

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...

Quiz 11: Inventory Management

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

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? ______________________________________________

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.

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? _________________________________________

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? _____________________________________

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

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? ______________________________________

Quiz 11: Inventory Management

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

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? ______________________________________________

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.__________________________________________

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? _________________________________________

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? _____________________________________

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

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? ______________________________________

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

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.