Questions
Over which product do you suggest the firm keep the tightest control?

Your company has compiled the following data on the small set of products that comprise the specialty repair parts division. Perform ABC analysis on the data. Over which product do you suggest the firm keep the tightest control?

$$ \begin{array}{|c|c|c|} \hline \text { SKU } & \text { Annual Demand } & \text { Unit cost } \\ \hline \text { R11 } & 125 & \$ 25 \\ \hline \text { S22 } & 55 & \$ 90 \\ \hline \text { T33 } & 100 & \$ 500 \\ \hline \text { U44 } & 150 & \$ 550 \\ \hline \text { V55 } & 2000 & \$ 4 \\ \hline \end{array} $$

  • S22
  • R11
  • U44
  • V55
  • T33

In: Operations Management

What is the inventory carrying cost per unit per year for this item?

For a certain item, the cost-minimizing order quantity obtained with the basic EOQ model is 200 units, and the total annual inventory (carrying and setup) cost is $600. What is the inventory carrying cost per unit per year for this item?

 

In: Operations Management

The assumptions of the production order quantity model are met in a situation where annual demand is 3650 units

The assumptions of the production order quantity model are met in a situation where annual demand is 3650 units, the setup cost is $50, holding cost is $12 per unit per year, the daily demand rate is 10 and the daily production rate is 100. The production order quantity for this problem is approximate.

 

In: Operations Management

The production order quantity for this problem is approximately 612 units. What is the average inventory for this problem?

a production order quantity problem has a daily demand rate = 10 and a daily production rate = 50. The production order quantity for this problem is approximately 612 units. What is the average inventory for this problem?

 

In: Operations Management

A certain type of computer costs $1,000, and the annual holding cost is 25% of the value of the item.

Section A: This section carries 10 points

A certain type of computer costs $1,000, and the annual holding cost is 25% of the value of the item. Annual demand is 10,000 units, and the order cost is $150 per order. What is the approximate economic order quantity? What is the total inventory cost?

Section B: This section carries 10 points

What is the difference between continuous review system and periodic review system?

 

In: Operations Management

The two most basic inventory questions answered by the typical inventory model are:

The two most basic inventory questions answered by the typical inventory model are:

  • A) timing of orders and cost of orders.
  • B) order quantity and cost of orders.
  • C) timing of orders and order quantity.
  • D) order quantity and service level.
  • E) ordering cost and carrying cost.

 

In: Operations Management

Which of the following is NOT one of the four main types of inventory?

Which of the following is NOT one of the four main types of inventory?

  • A. raw material inventory 
  • B. work-in-process inventory
  • C. maintenance/repair/operating supply inventory (MRO)
  • D. just-in-time inventory 
  • E. finished -goods inventory Reset Selection

In: Operations Management

The objective of inventory management is to

The objective of inventory management is to

  • A. strike a balance between inventory investment and customer service.
  • B. take advantage of quantity discounts.
  • C. decouple various parts of the production process.
  • D. provide a selection of goods for anticipated customer demand.

 

In: Operations Management

Which NIMS guiding principle supports interoperability among multiple organizations?

Which NIMS guiding principle supports interoperability among multiple organizations?

  • A. Adaptability
  • B. Standardization
  • C. Flexibility
  • D. Unity of Effort

In: Operations Management

The forecasting time horizon that would typically be easiest to predict for would be the

The forecasting time horizon that would typically be easiest to predict for would be the 

  • A. short range
  • B. long range
  • C. medium range
  • D. intermediate range 

In: Operations Management

Which is a sign of pests in an operation?

Which is a sign of pests in an operation?

  • Paper scraps found balled up in a drawer
  • Small pin holes found in sink plumbing
  • Oily substance dripping from a range hood
  • Electrical smell underneath equipment

In: Operations Management