OPS 571 FINAL EXAM 2 – QUESTION AND ANSWERS

OPS 571 FINAL EXAM 2 – QUESTION AND ANSWERS.3: A shopkeeper purchases raw materials to manufacture souvenirs for a local event that happens once every five years. In this case, identify the model that the shopkeeper is most likely to use to maintain stock. Fixed–order quantity model Fixed–time period model Lot sizing model Single-period model 4: __________ are used for decisions that are related to aggregate and strategy demand. Process assessments Periodic review systems Strategic forecasts P-models 5: __________ is the characteristics of a product in terms of quality that are sorted as either conforming or nonconforming to specification. A throughput rate The capability index An attribute A learning curve 6: Define lead time. It is the time required to attend to a customer order. It is the time required to position inventory in the supply chain.