# OM 12

A. bundler.

B. servicer.

C. retailer.

D. supply chain.

E. inventory.

A. shortage cost

B. purchase cost

C. holding cost

D. ordering cost

E. pipeline cost

A. foreorder costs

B. service costs

C. shortage costs

D. holding costs

E. setup costs

A. multi-period

B. reorder-point

C. fixed-order-quantity

D. fixed-order-interval

E. multi-item

A. once a month

B. once every other month

C. twice a month

D. twice every three months

E. three times every two months

A. 120

B. 93

C. 136

D. 46

E. 84

A. Annual demand requirements are known and constant.

B. Lead time does not vary.

C. Each order is received in a single delivery.

D. Quantity discounts are available.

E. Ordering and holding costs have been estimated reasonably accurately.

A. reduced lead times

B. increased safety stock

C. less frequent purchases

D. larger batch quantities

E. longer order intervals

A. interest.

B. insurance.

C. taxes.

D. receiving.

E. space.

A. ROP.

B. EOQ.

C. amount in the first bin.

D. optimum stocking level.

E. safety stock.

A. line up.

B. equal zero.

C. do not line up.

D. cannot be calculated.

E. depend on the percentage assigned.

A. do not require safety stocks.

B. cannot be ordered in large quantities.

C. are subject to deterioration and spoilage.

D. require that prices be lowered every two days.

E. have minimal holding costs.

A. processing vendor invoices for payment

B. processing purchase order

C. inspecting incoming goods for quantity

D. taking an inventory to determine how much is needed

E. temporary storage of delivered goods

A. 10.

B. 30.

C. 50.

D. 70.

E. 90.

A. A items.

B. B items.

C. C items.

D. A items plus B items.

E. B items plus C items.

A. A items.

B. B items.

C. C items.

D. A items plus B items.

E. B items plus C items.

A. count all the items in inventory.

B. count bicycles and motorcycles in inventory.

C. reduce discrepancies between inventory records and actual quantities.

D. reduce theft.

E. count 10 percent of the items each month.

A. ordering items with dependent demand

B. determination of safety stock

C. ordering perishable items

D. determining fixed-interval order quantities

E. determining fixed order quantities

A. Production rate is constant.

B. Lead time does not vary.

C. No more than three items are involved.

D. Usage rate is constant.

E. No quantity discounts.

A. safety stock replenishment.

B. economic order quantities.

C. reorder points.

D. fixed order intervals.

E. blanket ordering.

A. daily.

B. once a week.

C. monthly.

D. quarterly.

E. more often than annually.

A. less

B. more

C. the same

D. zero

E. 50 percent

A. It doubles.

B. It is four times its previous amount.

C. It is half its previous amount.

D. It is about 70 percent of its previous amount.

E. It increases by about 40 percent.

A. double.

B. increase, but not double.

C. decrease by a factor of 2.

D. remain the same.

E. increase, but more information is needed to calculate exactly how much.

A. 20.

B. square root of 200.

C. 200.

D. 400.

E. 600.

A. 10.

B. 12.

C. 24.

D. 72.

E. 144.

A. 11.

B. 20.

C. 24.

D. 28.

E. 375.

A. Usage rate is constant.

B. Production rate exceeds usage rate.

C. Run size exceeds maximum inventory.

D. There are no ordering or setup costs.

E. Average inventory is one-half maximum inventory.

A. greater than the EOQ

B. equal to the EOQ

C. smaller than the EOQ

D. greater than or equal to the EOQ

E. smaller than or equal to the EOQ

A. smaller.

B. unchanged.

C. greater.

D. smaller or unchanged.

E. unchanged or greater.

A. shipments

B. demand

C. inventory

D. safety stock

E. lead time

A. rate of demand

B. length of lead time

C. lead time variability

D. stockout risk

E. purchase cost

A. the EOQ.

B. expected usage during lead time.

C. safety stock.

D. the service level.

E. the EOQ plus safety stock.

A. 20 times 2

B. 20 times 10

C. 2 times the square root of 20

D. 2 times the square root of 10

E. 400 times the square root of 10

A. supplier policy encourages use.

B. grouping orders can save in shipping costs.

C. the required safety stock is lower than with an EOQ/ROP model.

D. it is suited to periodic checks of inventory levels rather than continuous monitoring.

E. continuous monitoring is not practical.

A. gold coins

B. hammers

C. fresh fish

D. calculators

E. frozen corn

A. 0.

B. .33.

C. .50.

D. .67.

E. .75.

A. 100

B. 80

C. 60

D. 40

E. 20

A. 100

B. 67

C. 50

D. 33

E. 5

A. .5

B. .6

C. .7

D. .8

E. .9

A. internal inventories.

B. external inventories.

C. both internal and external inventories.

D. safety stock elimination.

E. optimizing reorder points.

A. increasing lot sizes.

B. decreasing lot sizes.

C. increasing safety stocks.

D. decreasing service levels.

E. increasing order quantities.

A. excess costs.

B. shortage costs.

C. stockouts.

D. expected demand.

E. quantity discounts.

A. unchanged order quantities.

B. slightly decreased order quantities.

C. greatly decreased order quantities.

D. slightly increased order quantities.

E. greatly increased order quantities.

A. increases lead time.

B. increases lead time variability.

C. increases lot sizes.

D. decreases ordering costs.

E. decreases lead time variability.

A. 20.

B. 50.

C. 70.

D. 80.

E. 130.

A. A.

B. B.

C. C.

A. A company has switched from mass production to lean production.

B. Production is done in batches.

C. Spare parts are ordered when a new machine is purchased.

D. Grouping orders can save shipping costs.

E. Demand is highly variable

A. textbooks at a college bookstore

B. auto parts at an assembly plant

C. cards at a gift shop

D. canned peas at a supermarket

A. the EOQ

B. the lead time

C. the variability of demand

D. the demand or usage rate

E. all are factors

A. the same.

B. 20 percent larger.

C. 40 percent larger.

D. 20 percent smaller.

E. 40 percent smaller.

A. 70 percent higher.

B. 30 percent higher.

C. the same.

D. 30 percent lower.

E. 70 percent lower.

At what point should he reorder Stein beer?

A. 0 cases remaining

B. 4 cases remaining

C. 12 cases remaining

D. 16 cases remaining

E. 20 cases remaining

If he were to order 16 cases of Stein beer at a time, what would be the length of an order cycle?

A. .25 days

B. 3 days

C. 1 day

D. 4 days

E. 20 days

If he were to order 16 cases of Stein beer at a time, what would be the average inventory level?

A. 4 cases

B. 12 cases

C. 8 cases

D. 20 cases

E. 16 cases

If he were to order 16 cases of Stein beer at a time, what would be the daily total inventory costs, EXCLUDING the cost of the beer?

A. $2.00

B. $4.00

C. $1.28

D. $3.28

E. $2.56

What is the economic order quantity for Stein beer?

A. 8 cases

B. 11 cases

C. 14 cases

D. 20 cases

E. 32 cases

A. 20 pounds remaining

B. 40 pounds remaining

C. 60 pounds remaining

D. 80 pounds remaining

E. 100 pounds remaining

A. 0 days

B. 0.25 days

C. 3 days

D. 4 days

E. 5 days

A. 20 pounds

B. 40 pounds

C. 60 pounds

D. 80 pounds

E. 100 pounds

A. $60.00

B. $63.20

C. $64.00

D. $64.10

E. $65.00

A. 20 pounds

B. 40 pounds

C. 60 pounds

D. 80 pounds

E. 100 pounds

A. 0 bills remaining

B. 417 bills remaining

C. 2,500 bills remaining

D. 10,000 bills remaining

E. 12,500 bills remaining

A. .48 days

B. 2.08 days

C. 6 days

D. 8.4 days

E. 14.4 days

A. $3,000

B. $6,000

C. $12,500

D. $300,000

E. $600,000

A. $625

B. $1,250

C. $2,500

D. $3,125

E. $37,500

A. 600 bills

B. 3,000 bills

C. 949 bills

D. 6,215 bills

E. 12,500 bills

A. 50 kilograms

B. 200 kilograms

C. 500 kilograms

D. 800 kilograms

E. 1,000 kilograms

A. $5

B. $10

C. $20

D. $25

E. $40

A. 50 kilograms

B. 100 kilograms

C. 250 kilograms

D. 500 kilograms

E. 1,000 kilograms

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