Inventory Management and Aggregate Planning in Operations

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Inventory Management and Aggregate Planning in OperationsQuestion 13 out of 3 pointsInventory that acts as a buffer between workstations in flow shops or departments in jobshops is called ____ inventory.AnswerSelected Answer:Work-in-processCorrect Answer:Work-in-processQuestion 23 out of 3 pointsBackorders ____.AnswerSelected Answer:May occur as a result of a stockoutCorrect Answer:May occur as a result of a stockoutQuestion 33 out of 3 pointsCosts associated with backordering a product are called ____ costs.AnswerSelected Answer:ShortageCorrect Answer:ShortageQuestion 43 out of 3 pointsWhich isnotan advantage of theperiodic review system?AnswerSelected Answer:Helps to control "A" itemsCorrect Answer:Helps to control "A" itemsQuestion 53 out of 3 pointsUsing a fixed quantity system (FQS), as the reorder point increasesAnswerSelected Answer:safety stock increasesCorrect Answer:

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safety stock increasesQuestion 63 out of 3 pointsWhichofthefollowingisnotakeyassumptionunderliningtheclassiceconomicorderquantity(EOQ)model?AnswerSelected Answer:Demand is assumed to be stochasticCorrect Answer:Demand is assumed to be stochasticQuestion 73 out of 3 pointsAdditional inventory kept over and above the average amount required to meet demandis called ____inventory.AnswerSelected Answer:Safety stockCorrect Answer:Safety stockQuestion 83 out of 3 pointsDemand that varies over time is called ____.AnswerSelected Answer:DynamicCorrect Answer:DynamicQuestion 93 out of 3 points“The inability to satisfy the demand for an item” is the definition of aAnswerSelected Answer:stockoutCorrect Answer:stockoutQuestion 103 out of 3 pointsCosts associated withinspecting, unpacking and putting into storage incoming inventoryare components of ____ cost.AnswerSelected Answer:Ordering or setup

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