The Operations Manager for Shadyside Savings & Loan orders cash from her home office for her very popular "BIG BUCKS" au...
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The Operations Manager for Shadyside Savings & Loan orders cash from her home office for her very popular "BIG BUCKS" automated teller machine, which only dispenses $100 bills. She estimates that this machine dispenses an average of 12,500 bills per month, and that carrying a bill in inventory costs 10 percent of its value annually. She knows that each order for these bills costs $300 for clerical and armored car delivery costs, and that order lead time is six days. Assuming a 30-day month, at what point should bills be reordered?
A. 0 bills remainingB. 417 bills remainingC. 2,500 bills remainingD. 10,000 bills remainingE. 12,500 bills remaining
Given the same demand, setup/ordering costs, and carrying costs, the EPQ calculated using incremental replenishment will be ____________ if instantaneous replenishment was assumed.
A. greater than the EOQB. equal to the EOQC. smaller than the EOQD. greater than or equal to the EOQE. smaller than or equal to the EOQWhen carrying costs are stated as a percentage of unit price, the minimum points on the total cost curves:
A. line up.B. equal zero.C. do not line up.D. cannot be calculated.E. depend on the percentage assigned.A risk avoider would want ______ safety stock.
A. lessB. moreC. the sameD. zeroE. 50 percent
A manufacturer is contemplating a switch from buying to producing a certain item. Setup cost would be the same as ordering cost. The production rate would be about double the usage rate. Compared to the EOQ, the maximum inventory would be approximately:
A. 70 percent higher.B. 30 percent higher.C. the same.D. 30 percent lower.E. 70 percent lower.
Original
A basic requirement for operating with the low inventories present in lean systems is:
A. Inventory space must be increased.
B. Inventory investment must be increased.
C. Major problems must be identified.
D. Major problems must have been solved.
E. Inventories must be reduced rapidlyProcess design supporting lean doesn't include ______.
A. Production flexibility
B. Duplicate facilities
C. Setup time reduction
D. Minimal inventory storage
E. Small lot sizesA conveyance __________ signals parts movement.A. Request
B. Routing
C. Bar code
D. Kanban
E. Kazian
The Five S's don't include _______.A. Sort
B. Straighten
C. Sanitize
D. Sweep
E. Standardize
The ultimate objective in a lean system is:A. low to moderate levels of inventory
B. high quality, zero defects
C. minimal waste (less than 6%)
D. balanced and rapid flow
E. all of the above
Small changes in consumer demand can result in large variations in orders placed because of the
The automatic identification of material is part of/facilitated by:
Which of the following is not a goal of supply chain management?The interface between the firm and its suppliers is:
Vendor Analysis is the examination of the _________ of purchased materials.4. If he uses the shortest processing time first (SPT) priority rule to schedule these jobs, what will be the average completion time?
A) 7.5 hours
B) 5 hours
C) 3 hours
D) 2.5 hours
E) 2 hours
Use the following to answer the questions below:
Job (Hours)
Resource A B C D
1 5 8 7 7
2 4 9 5 9
3 6 9 8 7
4 7 6 6 9
After the row and column reductions, what is the minimum number of lines needed to cover the zero's?
a. 0 lines
b. 1 line
c. 2 lines
d. 3 lines
e. 4 lines
An inventory buffer adds value and lowers cost in all supply chains.
TRUE
FALSEEvery business organization is part of at least one supply chain.
TRUE
FALSEThe goal of supply chain management is to synchronize supply and demand of all of the organizations that are part of the chain.
TRUE
FALSEThe term loading, as used in scheduling, refers to choosing the order in which jobs will be processed in low-volume systems.
TRUE
FALSEA schedule chart depicts the loading and idle times for a group of machines or departments.
TRUE
FALSE
A. 0 bills remainingB. 417 bills remainingC. 2,500 bills remainingD. 10,000 bills remainingE. 12,500 bills remaining
Given the same demand, setup/ordering costs, and carrying costs, the EPQ calculated using incremental replenishment will be ____________ if instantaneous replenishment was assumed.
A. greater than the EOQB. equal to the EOQC. smaller than the EOQD. greater than or equal to the EOQE. smaller than or equal to the EOQWhen carrying costs are stated as a percentage of unit price, the minimum points on the total cost curves:
A. line up.B. equal zero.C. do not line up.D. cannot be calculated.E. depend on the percentage assigned.A risk avoider would want ______ safety stock.
A. lessB. moreC. the sameD. zeroE. 50 percent
A manufacturer is contemplating a switch from buying to producing a certain item. Setup cost would be the same as ordering cost. The production rate would be about double the usage rate. Compared to the EOQ, the maximum inventory would be approximately:
A. 70 percent higher.B. 30 percent higher.C. the same.D. 30 percent lower.E. 70 percent lower.
Original
A basic requirement for operating with the low inventories present in lean systems is:
A. Inventory space must be increased.
B. Inventory investment must be increased.
C. Major problems must be identified.
D. Major problems must have been solved.
E. Inventories must be reduced rapidlyProcess design supporting lean doesn't include ______.
A. Production flexibility
B. Duplicate facilities
C. Setup time reduction
D. Minimal inventory storage
E. Small lot sizesA conveyance __________ signals parts movement.A. Request
B. Routing
C. Bar code
D. Kanban
E. Kazian
The Five S's don't include _______.A. Sort
B. Straighten
C. Sanitize
D. Sweep
E. Standardize
The ultimate objective in a lean system is:A. low to moderate levels of inventory
B. high quality, zero defects
C. minimal waste (less than 6%)
D. balanced and rapid flow
E. all of the above
Small changes in consumer demand can result in large variations in orders placed because of the
The automatic identification of material is part of/facilitated by:
Which of the following is not a goal of supply chain management?The interface between the firm and its suppliers is:
Vendor Analysis is the examination of the _________ of purchased materials.4. If he uses the shortest processing time first (SPT) priority rule to schedule these jobs, what will be the average completion time?
A) 7.5 hours
B) 5 hours
C) 3 hours
D) 2.5 hours
E) 2 hours
Use the following to answer the questions below:
Job (Hours)
Resource A B C D
1 5 8 7 7
2 4 9 5 9
3 6 9 8 7
4 7 6 6 9
After the row and column reductions, what is the minimum number of lines needed to cover the zero's?
a. 0 lines
b. 1 line
c. 2 lines
d. 3 lines
e. 4 lines
An inventory buffer adds value and lowers cost in all supply chains.
TRUE
FALSEEvery business organization is part of at least one supply chain.
TRUE
FALSEThe goal of supply chain management is to synchronize supply and demand of all of the organizations that are part of the chain.
TRUE
FALSEThe term loading, as used in scheduling, refers to choosing the order in which jobs will be processed in low-volume systems.
TRUE
FALSEA schedule chart depicts the loading and idle times for a group of machines or departments.
TRUE
FALSE
