TOM 3010 Ch 10;61 Intro to inventory management Review Questions Perfectly Answered
5 keer bekeken 0 keer verkocht
Vak
TOM 3010 Ch 10;61 Intro to inventory management
Instelling
TOM 3010 Ch 10;61 Intro To Inventory Management
__ of inventory can absorb variations in flow rates by acting as a source of supply for a downstream step. - ️️Buffers
__ stock is held just in case demand turns out to be higher than predicted. - ️️Safety
_blank_ is the average amount of time (in days) it takes a unit to flow through the...
__ of inventory can absorb variations in flow rates by acting as a source of supply for a downstream
step. - ✔ ✔ Buffers
__ stock is held just in case demand turns out to be higher than predicted. - ✔ ✔ Safety
_blank_ is the average amount of time (in days) it takes a unit to flow through the system. - ✔ ✔
Days-of-supply
_blank_ is the inverse of days-of-supply. - ✔ ✔ Daily turns
— Which process metric is the equivalent of days-of-supply? - ✔ ✔ Buffers
"Bait and __ " is a questionable practice used by some retailers when there is a stockout of a product. -
✔ ✔ Switch
Another term for unpredictable variations is __ - ✔ ✔ Stochastic
Another term for unpredictable variations is - ✔ ✔ Stochastic
Because __ time cannot be zero, Little's Law tells us there is always inventory in a process. - ✔ ✔
Flow
Cost of goods sold should be used to estimate flow rate because __ is measured in "cost dollars." - ✔
✔ Inventory
Daily turns is the inverse of _blank_. - ✔ ✔ Days-of-supply
Drag the description of inventory to the type it describes.
Raw Material —>
Work-in-process —>
Finished goods —> - ✔ ✔ Raw Material-before a process
Work-in-process-inside a process
Finished goods-after a process
, How does an increased inventory holding cost per unit affect the per-unit profit? - ✔ ✔ Decreases it
How does truck transportation lead to inventory? - ✔ ✔ Firms want to load trucks completely to
lower transportation cost per unit.
If a firm has the opportunity to invest money at a 10% annual rate of return then having $100 invested
in inventory for a whole year has what opportunity cost of capital? - ✔ ✔ $10
Inventory builds up when producing a batch at a rate that _blank_ the flow rate of the item through the
process - ✔ ✔ Is more than
Inventory costs can be calculated in terms of holding costs per year, but it can also be useful to express
them as a percentage of _blank_. - ✔ ✔ Cost of goods sold
Inventory management is the practice of deciding on the __ , location, and type of inventory in a
process. - ✔ ✔ Amount
Inventory management is the practice of deciding on the quantity, __ , and type of inventory in a
process. - ✔ ✔ Location
Inventory turns are calculated as flow __ divided by inventory. - ✔ ✔ Rate
Inventory turns are calculated as flow rate divided by - ✔ ✔ Inventory
Inventory turns are typically __ for food stores than jewelry stores. - ✔ ✔ Higher
Inventory turns can be calculated from an income statement as _blank_ divided by inventory. - ✔ ✔
Cost-go-goods-sold
Match the types of variation.
seasonal—>
stochastic—> - ✔ ✔ Seasonal-predictable
stochastic-random
Over the last 30 years, days-of-supply for U.S. retailers has been _blank_. - ✔ ✔ Decreasing
RFID tags are used to support which inventory management capability? - ✔ ✔ Product and demand
tracking
Safety stock is used to accommodate which type of variation? - ✔ ✔ Stochastic
Voordelen van het kopen van samenvattingen bij Stuvia op een rij:
Verzekerd van kwaliteit door reviews
Stuvia-klanten hebben meer dan 700.000 samenvattingen beoordeeld. Zo weet je zeker dat je de beste documenten koopt!
Snel en makkelijk kopen
Je betaalt supersnel en eenmalig met iDeal, creditcard of Stuvia-tegoed voor de samenvatting. Zonder lidmaatschap.
Focus op de essentie
Samenvattingen worden geschreven voor en door anderen. Daarom zijn de samenvattingen altijd betrouwbaar en actueel. Zo kom je snel tot de kern!
Veelgestelde vragen
Wat krijg ik als ik dit document koop?
Je krijgt een PDF, die direct beschikbaar is na je aankoop. Het gekochte document is altijd, overal en oneindig toegankelijk via je profiel.
Tevredenheidsgarantie: hoe werkt dat?
Onze tevredenheidsgarantie zorgt ervoor dat je altijd een studiedocument vindt dat goed bij je past. Je vult een formulier in en onze klantenservice regelt de rest.
Van wie koop ik deze samenvatting?
Stuvia is een marktplaats, je koop dit document dus niet van ons, maar van verkoper jackline98. Stuvia faciliteert de betaling aan de verkoper.
Zit ik meteen vast aan een abonnement?
Nee, je koopt alleen deze samenvatting voor €8,28. Je zit daarna nergens aan vast.
