CPIM PostTest, Practice Exam 1 & Practice Exam 2 Compiled Questions And Answers Graded A+
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Course
CPIM
Institution
CPIM
CPIM PostTest, Practice Exam 1 & Practice Exam 2 Compiled Questions And Answers Graded A+
What type of demand inventory ordering model includes fixed reorder cycles, fixed reorder quantities, optional replenishment, and hybrid models?
Material requirements planning
Kanban
Drum-buffer-rope
I...
CPIM PostTest, Practice Exam 1 & Practice
Exam 2 Compiled Questions And Answers
Graded A+
What type of demand inventory ordering model includes fixed reorder cycles, fixed reorder
quantities, optional replenishment, and hybrid models?
Material requirements planning
Kanban
Drum-buffer-rope
Independent
Independent
independent demand inventory ordering models include fixed reorder cycles, fixed reorder quantities,
optional replenishment, and hybrid models, among others. Dependent demand inventory ordering
models include material requirements planning, kanban, and drum-buffer-rope.
In a bill of material, the path that adds up to the greatest number of lead time periods defines the:
cumulative lead time.
lead time offset.
delivery lead time.
demand lead time.
cumulative lead time
Cumulative lead time for an item consists of the longest lead time path for a given bill of material.
Delivery and demand lead times are subsets of the cumulative lead time. The lead time offset is a
technique used in MRP where a planned order receipt in one time period requires the release of that
order in an earlier time period based on the lead time for the item.
Which of the following statements is true when production lead time is increased?
Work-in-process inventory will decrease.
Work-in-process inventory may be insufficient.
Work-in-process inventory will increase.
Component inventory will increase.
Work-in-process inventory will increase.
When production takes longer, the raw materials, components, and subassemblies will spend more
time in work-in-process. The size of the component inventory and the necessary inventories needed
in production are unaffected by an increase in product lead times.
Which of the following statements is true of inventory when the final product design is continuously
influenced by the customer?
Large safety stocks must be maintained.
Lot-size inventory increases to the finished goods level.
Buffer inventory should be held closer to the raw material stage.
Customer influence on the product design should not affect inventory levels.
Buffer inventory should be held closer to the raw material stage.
Because the final configured item is often not determined until the actual customer order, leaving
materials and components in an unfinished state significantly reduces stocked finished goods. The
, materials and components are then made- or assembled-to-order based on customer specifications.
Increasing the lot-size inventory to the finished goods level will only build inventory as the company
waits for a customer order with pre-designed configurations. Large safety stocks further increase the
amount of finished goods maintained in inventory. Unless the customer requires only off-the-shelf
products, the production and inventory functions must be flexible to build any customer
configuration.
With which of the following modes of transportation does the carrier typically have the highest fixed
costs?
Rail
Air
Road
Water
Rail
In contrast to variable costs, fixed costs do not change with the volume of goods carried. Railways
have large fixed costs, for example, tracks, terminals, and vehicles.
Which financial document shows sources of revenue (sales in cash or as accounts receivable) followed
by various types of expenses incurred throughout the period?
General ledger
Cash flow statement
Income statement
Balance statement
income statement
An income statement is a summary of management's performance as reflected in the profitability of
an organization over a certain period. It itemizes the revenues and expenses that led to the current
profit or loss and indicates what may be done to improve the results.
How should a forecast for snowmobile sales for the coming year be constructed?
In the same schedule as production
In the same schedule as shipping
In weeks
In the same schedule as customer orders
In the same schedule as customer orders
The forecast should be constructed in the same schedule as that in which sales from customer orders
are expected for the coming year. Note that the forecast will probably need a seasonality component
due to the nature of the product. The production schedule will be influenced by the expected lead
time required to produce the snowmobiles, and it will precede the shipping schedule for the
snowmobiles. The shipping schedule will be influenced by the arrivals from production and the lead
times required to deliver the snowmobiles through the delivery supply chain to finally reach the
customer who placed the order. The schedules throughout the supply chain will be in the time
increments needed for each to coordinate with all the other components of the snowmobile supply
chain.
Which of the following capacity management techniques is most appropriately used to test the
feasibility of the plans generated by material requirements planning?
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