MGT 370 Ch 13 & 14 – Flashcards
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Which of the following interactions with vendors would potentially lead to inventory reductions?
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reduce lead times
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Which of the following is LEAST LIKELY to be included in order costs
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temporary storage of delivered goods
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which is NOT a true assumption in the EOQ model?
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no more than 3 items are involved
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which of the following is NOT one of the assumptions of the basic EOQ model
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quantity discounts are available
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dairy items, fresh fruit and newspapers are items that:
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are subject to deterioration and spoilage
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The EOQ model is most relevant for which of the following
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determining fixed order quantities
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Which of the following is NOT true for EPQ
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there are no ordering or setup costs
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A fill rate is the percentage of_________filled by stock on hand
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demand
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the management of supply chain inventories focuses on:
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both internal and external inventories
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The need for safety stocks can be reduced by an operations strategy which
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decreases lead time variability
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With an A-B-C system, an item that had a high demand but low annual dollar volume would probably be classified as:
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C
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In an A-B-C system, the typical percentage of the number of items in inventory for A items is about
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10
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The purpose of "cycle counting" is to
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reduce all discrepancies between inventory records and actual
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a risk avoider would want ___________ safety stock
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more
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an operations strategy for inventory management should work towards
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decreasing lot sizes
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a basic requirement for operating with low inventories present in lean systems is
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major problems must have been solved
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which of the following is NOT characteristic of preventive maintenance in lean systems
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eliminating supplies of spare parts to reduce capital investment
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the five s's DON'T include
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Sanitize
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a kanban card is used to signal that
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work is needed at the work center
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process design supporting lean DOESNT includ
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duplicate facilities
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an operations strategy reflecting the lean philosophy of production should recognize that lean:
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may provide a competitive advantage
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the lean philosophy suggest that workers are
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assets
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the ultimate goal of lean operations is to have
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a smooth, rapid flow of materials through the system
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which of the following is NOT one of the building blocks that is the foundation of lean philosophy
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kanban
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building up an inventory of standard parts or modules instead of immediately producing the finished end items is the essence of
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delayed differentiation
