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P370 Self-Check Post-Midterm Questions With Complete Solutions
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P370 Self-Check Post-Midterm Questions With Complete Solutions
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P370 Self-Check Post-Midterm Questions With CompleteSolutions
A certain product costs $200 to order. The cost per unit is $25
and the cost to carry one unit in inventory for 1 year is 20% of
the value of the product. Monthly demand is 1,000 units. The
company operates 5 days a week, 4 weeks per month.
Assume the company manufactures the unit instead of
purchasing it, and so the replenishment is not immediate, but
rather gradual over time. If the production rate is 750 units per
day, what is the optimal order quantity? Correct Answer 1014
A certain product costs $200 to order. The cost per unit is $25
and the cost to carry one unit in inventory for 1 year is 20% of
the value of the product. Monthly demand is 1,000 units. The
company operates 5 days a week, 4 weeks per month. What is
the FOQ? Correct Answer 980
A process, when in control, produces an output that has these
statistics: X-doublebar = 253; R-bar = 48; these statistics were
calculated from 8 samples, each containing 15 observations.
Using three standard deviation control limits, determine the LCL
for the R chart and the UCL for the X-bar chart. LCL for Range
Chart UCL for X-bar Chart Correct Answer 16.8 263.6
A pure level strategy for aggregate production planning:
Correct Answer Maintains a stable workforce working at a
constant output rate.
A X-bar control chart has an upper control limit of 0.65 inch and
a lower control limit of 0.35 inch. The results of the next six
, samples are 0.60, 0.37, 0.45, 0.48, 0.53, and 0.62 inches. What
should you do? Correct Answer Investigate because there is a
trend.
At Q, what is TAC? Correct Answer 289395.83
At Q, what is TAHC? Correct Answer 1197.98
Central Hydraulic Supply
The Central Hydraulic Supply Company is a distributor of
hydraulic supplies in the Midwest. Central handles standard
fittings, tubing, and similar items. Generally Central carries an
entire product line for each manufacturer it represents providing
local stock for rapid delivery to customers. The parts that
Central stocks are mainly used in the maintenance of large
construction equipment. The company operates 52 weeks per
year.
The company reviewed the cost of preparing and processing a
requisition, preparing a purchase order, and making necessary
record changes. This was estimated to be $50 per order.
One part that Central stocks is a small hydraulic fitting. Central
sells about 20,500 of these fittings per year (the fitting is
purchases for $14 and sells for $19). The manufacturer from
whom Central buys the fitting does not offer any quantity
discount. The manufacturer is located about 1,50 Correct
Answer 885.7
Comparing an organization's performance on critical business
processes against the best performance on the same or similar
processes in other organizations is known as: Correct Answer
Benchmarking
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