GSCM206 Quiz Week 6

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GSCM206 Quiz Week 6
(TCO 11) All of the following statements about ABC analysis are true except (Points : 3)

 

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GSCM206 Quiz Week 6

GSCM206 Quiz Week 6

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(TCO 11) All of the following statements about ABC analysis are true except (Points : 3)

Inventory may be categorized by measures other than dollar volume.

It is an application of the Pareto principle.
It states that all items require the same degree of control.
It states that there are the critical few and the trivial many inventory items.

(TCO 11) Which of the following statements regarding control of service inventories is true? (Points : 3)

Service inventory is a fictional concept, because services are intangible.
Service inventory needs no safety stock, because there’s no such thing as a service stockout.

Effective control of all goods leaving the facility is one applicable technique.

Service inventory has carrying costs but no setup costs.

Good personnel selection, training, and discipline are easy.

(TCO 11) Which of the following is not an assumption of the economic order quantity model shown below?

Q* =  (Points : 3)

Demand is known, constant, and independent.

Lead time is known and constant.

Quantity discounts are not possible.

Production and use can occur simultaneously.

The only variable costs are setup cost and holding (or carrying) cost.
(TCO 11) A certain type of computer costs $1,000, and the annual holding cost is 25%. Annual demand is 10,000 units, and the order cost is $150 per order. What is the approximate economic order quantity? (Points : 3)

16

70

110

183

600

(TCO 11) Demand for a given item is said to be dependent if (Points : 3)

It originates from the external customer.

There is a deep bill of material.

The finished products are mostly services (rather than goods).

There is a clearly identifiable parent.

The item has several children.

(TCO 10) Dependent demand and independent demand items differ in that (Points : 3)

For any product, all components are dependent-demand items.

The need for independent-demand items is forecast.

The need for dependent-demand items is calculated.

All of the above

None of the above

(TCO 10) A master production schedule specifies (Points : 3)

The raw materials required to complete the product.

What component is to be made and when.

What product is to be made and when.

The labor hours required for production.

The financial resources required for production.

(TCO 10) In job shop (make-to-order) operations, the master production schedule is usually expressed in (Points : 3)

end items.

Modules

Kits

Customer orders

Warehouse orders

(TCO 10) A bill of material lists the (Points : 3)

Times needed to perform all phases of production.

Production schedules for all products.

Components, ingredients, and materials required to produce an item.

Operations required to produce an item.

Components, ingredients, materials, and assembly operations required to produce an item.

(TCO 10) Which of the following statements best compares modular bills and phantom bills? (Points : 3)

Both pertain to assemblies that are not inventoried.

There is no difference between the two.
Both pertain to assemblies that are inventoried.
Modular bills are used for assemblies that are not inventoried, unlike phantom bills.

Modular bills represent subassemblies that actually exist and are inventoried, but phantom bills represent subassemblies that exist only temporarily and are not inventoried.