Exam (elaborations)
MQM 227 Chapt 20 questions with complete solutions graded A+
- Course
- Institution
MQM 227 Chapt 20 questions with complete solutions graded A+
[Show more]
Content preview
MQM 227 Chapt 20Which of the following is one of the categories of manufacturing inventory?
Economic order inventory
Work-in-process
Quality units
JIT inventory
Reorder point - correct answer ✔✔Work in Process
When material is ordered from a vendor, which of the following is NOT a reason for delays in the order
arriving on time?
Normal variation in shipping time
A shortage of material at the vendor's plant causing backlogs
An unexpected strike at the vendor's plant
A lost order
Redundant ordering systems - correct answer ✔✔Redundant ordering Systems
Which of the following is usually included as an inventory holding cost?
Order placing
Breakage
Typing up an order
Quantity discounts
Annualized cost of materials - correct answer ✔✔Breakage
Which of the following is a FIXED-Order quantity inventory model?
, Economic order quantity model
The ABC model
Periodic replenishment model
Cycle counting model
P model - correct answer ✔✔Economic order quantity Model
Which of the following is a PERPETUAL system for inventory management?
Fixed-time period
Fixed-order quantity
P model
First-in-first-out
The wheel of inventory - correct answer ✔✔Fixed order quantity
Which of the following is not an assumption of the basic fixed-order-quantity inventory model?
Ordering or setup costs are constant.
Inventory holding cost is based on average inventory.
Returns to scale of holding inventory are diminishing.
Lead time is constant.
Demand for the product is uniform throughout the period. - correct answer ✔✔Returns to scale of
holding inventory are diminishing
These assumptions are unrealistic, but they represent a starting point and allow us to use a simple
example:
1. Demand for the product is constant and uniform throughout the period.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller BravelRadon. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $11.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
78637 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now