
Warehouse
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University
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Practice Problem
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Hard
Tran Anh Nguyen
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10 questions
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1.
MULTIPLE CHOICE QUESTION
10 sec • 1 pt
1. The______is a statement of the percentage of time there is no stockout.
service level
safety stock
safety factor
B&C are correct
2.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
Economic Order Quantity is
The ideal order quantity a company should purchase to minimize inventory costs.
The best applied in situations where ordering, and holding costs remain constant over time and demand variable
Also formula determines the number of safety stock
All the correct answers
3.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
3. Safety stocks are used to against two external factors:
Demand uncertainty and lead time uncertainty.
The ordering cost increases and the carrying cost increases.
Demand uncertainty and the reorder point is not stable.
Out of stock and the total price is high.
4.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
4. How does the fixed-order model react compared to the fixed-period model when demand is a variable?
The same
Difference
5.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
5. What is the order point?
A level of inventory in stock at which a old order is placed
A level of inventory out stock at which a new order is placed
A level of inventory in stock at which a new order is placed
A level of inventory in stock at which a new order is not placed
6.
MULTIPLE CHOICE QUESTION
10 sec • 1 pt
6. With the safety stock, how can we calculate the order point?
OP = DDLT
OP = DDLT + SS
OP = DDLT - SS
OP = SS - DTLT
7.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
7. A service level of 90% means?
The probability that a stockout will occur is 10%
The certainty that stock out occurs.
The probability that demand will be met during the lead time is 90%
The probability that a stockout will occur is 90%
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