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Inventory Management and Aggregate Planning in Operations

A solved assignment on inventory management and aggregate planning techniques.

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    Inventory Management and Aggregate Planning in Operations  Question 1 3 out of 3 points Inventory that acts as a buffer between workstations in flow shops or departments in job shops is called ____ inventory. Answer Selected Answer: Work - in - process Correct Answer: Work - in - process  Question 2 3 out of 3 points Backorders ____. Answer Selected Answer: May occur as a result of a stockout Correct Answer: May occur as a result of a stockout  Question 3 3 out of 3 points Costs associated with backordering a product are called ____ costs. Answer Selected Answer: Shortage Correct Answer: Shortage  Question 4 3 out of 3 points Which is not an advantage of the periodic review system? Answer Selected Answer: Helps to control "A" items Correct Answer: Helps to control "A" items  Question 5 3 out of 3 points Using a fixed quantity system (FQS), as the reorder point increases Answer Selected Answer: safety stock increases Correct Answer:

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    safety stock increases  Question 6 3 out of 3 points Which of the following is not a key assumption underlining the classic economic order quantity (EOQ) model? Answer Selected Answer: Demand is assumed to be stochastic Correct Answer: Demand is assumed to be stochastic  Question 7 3 out of 3 points Additional inventory kept over and above the average amount required to meet demand is called ____ inventory. Answer Selected Answer: Safety stock Correct Answer: Safety stock  Question 8 3 out of 3 points Demand that varies over time is called ____. Answer Selected Answer: Dynamic Correct Answer: Dynamic  Question 9 3 out of 3 points “The inability to satisfy the demand for an item” is the definition of a Answer Selected Answer: stockout Correct Answer: stockout  Question 10 3 out of 3 points Costs associated with inspecting, unpacking and putting into storage incoming inventory are components of ____ cost. Answer Selected Answer: Ordering or setup

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