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

                                                                                                                                      Order Now