Exam (elaborations)
OPERATIONS AND SUPPLY CHAIN MANAGEMENT EXAM 3 QUESTIONS AND ANSWERS
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OPERATIONS AND SUPPLY CHAIN MANAGEMENT EXAM 3 QUESTIONS AND ANSWERS
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1-66 of 66Inventory replenishment models
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•Single-Period Replenishment
•Fixed Order-Quantity Replenishment
•Fixed Time-Period Replenishment
,What is Safety Stock?
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amount of Inventory needed to minimize potential Out-of-Stocks
List at least three advantages or disadvantages of using Cloud Computing.
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1. Scalable solution
2. 24x7x365 technical support
3. Redundancy
4. Disaster recovery
5. Dynamic storage
6. Dynamic updates
7. Lower Fixed Costs
8. Pay for what you use
LUC
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, Least Unit Cost
"use when we want the lowest cost at a given point in time"
Considers the total Ordering and Inventory Holding costs for each lot size
and divides those costs by the units in the lot to determine Cost per Unit at
a given time in the system.
Why is business climate a location consideration?
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• Favorable laws
• Workforce Education and Availability
• Similar businesses (consider Hollywood, Wall Street, City Malls)
• Taxing Policies
Single-Period Replenishment
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▪ One-time purchase of an item
▪ Fashion/Seasonal/Time-dependent
Plane tickets, seasonal designer items
What is RFID?
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