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Devry GSCM520 Week 6 quiz
Question 1.1.(TCO 4) Which of the following is one of the categories of manufacturing inventory?(Points : 3)
Economic Order Inventory
Work-in-process
Quality units
JIT Inventory
Re-order point
Question 2.2.(TCO 4) When developing inventory cost models, which of the following are not included as costs to place an order?(Points : 3)
Phone calls
Taxes
Clerical
Calculating quantity to order
Postage
Question 3.3.(TCO 4) In making any decision that affects inventory size, which of the following costs do not need to be considered?(Points : 3)
Holding costs
Setup costs
Ordering costs
Fixed costs
Shortage costs
Question 4.4.(TCO 4) Which of the following are fixed-order quantity inventory models?(Points : 3)
Economic order quantity model
The ABC model
Periodic replenishment model
Cycle counting model
P model
Question 5.5.(TCO 4) Which of the following is the set of all cost components that make up the fixed-order quantity total annual cost (TC) function?(Points : 3)
Annual purchasing cost, annual ordering cost, fixed cost
Annual holding cost, annual ordering cost, unit cost
Annual holding cost, annual ordering cost, annual purchasing cost
Annual lead time cost, annual holding cost, annual purchasing cost
Annual unit cost, annual set up cost, annual purchasing cost
Question 6.6.(TCO 4) If annual demand is 50,000 units, the ordering cost is $25 per order, and the holding cost is $5 per unit per year, which of the following is the optimal order quantity using the fixed-order quantity model?(Points : 3)
909
707
634
500
141
Question 7.7.(TCO 4) If the average aggregate inventory value is $100,000 and the cost of goods sold is $450,000, which of the following is inventory turnover?(Points : 3)
19.23
4.5
0.8654
0.2222
None of the above
Question 8.8.(TCO 3) In Hau Lee's uncertainty framework to classify supply chains, a supply chain for functional products with a stable supply process is called which of the following?(Points : 3)
Efficient
Forward looking
Agile
Risk hedging
Responsive
Question 9.9.(TCO 3) Which of the following is an organizationally driven reason for outsourcing?(Points : 3)
Improve effectiveness by focusing on what the firm does best
Turn fixed costs into variable costs
Reduce costs through lowered cost structure and increased flexibility
Improve risk management
Improve credibility and image by associating with superior providers
Question 10.10.(TCO 3) Which of the following is an improvement-driven reason for outsourcing?(Points : 3)
Shorten cycle time
Improve effectiveness by focusing on what the firm does best
Increase product and service value by improving response to customer needs
Turn fixed costs into variable costs
Reduce costs through a lower cost structure
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