Final EXAM PNR 309 QUESTIONS WITH ACTUAL CORRECT DETAILED ANSWERS
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Course
SCMN 3730
Institution
SCMN 3730
Final EXAM PNR 309 QUESTIONS WITH ACTUAL CORRECT DETAILED
ANSWERSFinal EXAM PNR 309 QUESTIONS WITH ACTUAL CORRECT DETAILED
ANSWERSFinal EXAM PNR 309 QUESTIONS WITH ACTUAL CORRECT DETAILED
ANSWERSFinal EXAM PNR 309 QUESTIONS WITH ACTUAL CORRECT DETAILED
ANSWERSFinal EXAM PNR 309 QUESTIONS WI...
Exam 3 SCMN 3730 WITH ACTUAL CORRECT DETAILED ANSWERS
What types of problems can be hidden by high inventory levels?
a. poor material quality
b. inaccurate demand-forecasting systems
c. unreliable supplier delivery
d. all of the above
e. none of the above
f. a and b - ANSWER-all of the above
Items purchased from suppliers or produced internally to directly go into production requirements. It
includes items purchased in bulk or unfinished condition. Examples include bulk quantities of chemicals,
resins, or petroleum.
Semifinished inventory include those items used as inputs during the final product process (examples:
computer chips, wiring harness sub-assemblies)
a. finished goods
b. raw materials/components
c. work in process - ANSWER-raw materials/components
At any given point in time, this is the sum total of inventory within all manufacturing process centers. If
______ increases over a certain level, this may indicate production bottlenecks or delays
a. finished goods
b. raw materials/components
,c. work in process - ANSWER-work in process
_________ inventory includes completed items or products that are available for shipment or future
customer orders
a. finished goods
b. raw materials/components
c. work in process - ANSWER-finished goods
Includes the items used to support production and operations, these items are not physically part of a
finished product but are critical for the continuous operation of plant, equipment, and offices
What does "MRO" stand for? - ANSWER-Maintenance, repair, and operating supplies
___________ measures how many times a year a company needs to replace its average inventory to
support sales volume - ANSWER-Inventory turns
(AKA turnover)
T/F:
Smaller "turn" numbers show efficient use to the company's capital or investment in inventory -
ANSWER-False
(HIGHER "turn" numbers show efficient use to the company's capital or investment in inventory)
T/F:
A small number of "turns" implies weak sales and/or excessive inventory - ANSWER-True
= annual sales / average value of inventory - ANSWER-inventory turns =
, When firms produce goods in anticipation of future customer orders. They expect to hold finished
inventory in anticipation of future demand
EX: Apple - ANSWER-Make to Stock (MTS)
When firms produce goods in response to a customer order
EX: Tesla, Viking Sports Boats - ANSWER-Make to Order (MTO)
These are components of what?
1. capital cost
2. taxes
3. insurance
4. obsolescence
5. storage - ANSWER-Inventory carrying costs
Out of all the components for Inventory Carrying Costs, which one has a range of 0 to 4%?
a. capital cost
b. taxes
c. insurance
d. obsolescence
e. storage
f. b and d - ANSWER-storage
Out of all the components for Inventory Carrying Costs, which one has a range of 0 to 2%?
a. capital cost
b. taxes
c. insurance
d. obsolescence
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