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MGMT 318 - Test 3

Production-Operations Management

QuestionAnswer
Which of the following relationships shows dependent demand inventory? An automobile purchases four tires for each new car they product
An inventory system answers two important questions: when to order and how much to order. Which of the following statements correctly explains how a Q system (continuous review system) or a P system (periodic review system) answers these questions? Under a P system, an order is placed to replenish the inventory position up to the target level T every P time periods.
Which one of the following statements concerning the economic order quantity (EOQ) model is TRUE? A decrease in holding cost will increase the EOQ
Which one of the following statements regarding the economic order quantity (EOQ) is TRUE? If and order quantity is larger than the EOQ, the annual holding cost for cycle inventory exceeds the annual ordering cost
average demand of 50 units per week. The standard deviation in weekly demand is 20 units. The lead-time for the item is six weeks, and it costs the company 30 to process. Holding is 10/year. Operates 52 wks/yr. desired saftey stock is Greater than 50 but less than or equal to 100 units
Which one of the following is an input to the MRP system? Master production schedule
Which of the following statements about MRP is TRUE? MRP gross requirements for a component depend on the planned order releases of its immediate parents
Enterprise resource planning (ERP): Creates commonality of databases, uses client/server networks, uses business application-programming interfaces (BAPI) to access their database, and has been made possible because of advances in hardware and software
Which of the following is generally found in most JIT environments? Pull systems
Which one of the following statements is true about the kanban system? The customer workstation signals to the supplier workstation when production is needed
What does TPS stand for? Toyota Production System
Lean systems try to: Maximize the value added by of each of its activities
Lead time for computers is 7 days with daily demand of 5 computers and a safety stock of 1 day. Each kanban holds 8 computers. What is the correct number of kanbans? 5
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