MGSC 346 UPDATED EXAM SCRIPT QUESTIONS AND
ANSWERS SURE A+
✔✔Reneging customers - ✔✔Enter line, but leave the line prior to service receipt
✔✔ERP - ✔✔Computer system that integrates applications programs in each function
of a firm
✔✔ERP example - ✔✔Oracle, peoplesoft
✔✔ERP - ✔✔Enterprise Resource Planning
✔✔MRP - ✔✔Approaches problem of managing parts, components, and materials
needed to produce end items
✔✔Dependent demand - ✔✔MRP is driven by
✔✔Master requirements planning - ✔✔MRP
✔✔Goal of MRP - ✔✔Efficient management of parts
✔✔Gross requirements, scheduled receipts, projected on hand inventory, planned
receipts, planned order releases - ✔✔Labels on the rows found in an 8 week MRP
✔✔Economic order quantity - ✔✔EOQ
✔✔Lot for lot - ✔✔L4L
✔✔L4L goals - ✔✔Sets planned orders to exactly match requirements, produces
exactly what's needed, minimizes carrying costs
✔✔L4L limitation - ✔✔Does not take into account setup costs or capacity limitations
✔✔Inventory management - ✔✔Two goals: enough inventory to satisfy customer
demand, avoid too much inventory (low ROI)
✔✔Holding, setup, reordering, shortage - ✔✔Inventory cost types
✔✔Holding costs - ✔✔Costs for storage
✔✔Setup costs - ✔✔Costs for obtaining necessary materials
✔✔Reordering costs - ✔✔Costs of placing an order to reorder from suppliers
ANSWERS SURE A+
✔✔Reneging customers - ✔✔Enter line, but leave the line prior to service receipt
✔✔ERP - ✔✔Computer system that integrates applications programs in each function
of a firm
✔✔ERP example - ✔✔Oracle, peoplesoft
✔✔ERP - ✔✔Enterprise Resource Planning
✔✔MRP - ✔✔Approaches problem of managing parts, components, and materials
needed to produce end items
✔✔Dependent demand - ✔✔MRP is driven by
✔✔Master requirements planning - ✔✔MRP
✔✔Goal of MRP - ✔✔Efficient management of parts
✔✔Gross requirements, scheduled receipts, projected on hand inventory, planned
receipts, planned order releases - ✔✔Labels on the rows found in an 8 week MRP
✔✔Economic order quantity - ✔✔EOQ
✔✔Lot for lot - ✔✔L4L
✔✔L4L goals - ✔✔Sets planned orders to exactly match requirements, produces
exactly what's needed, minimizes carrying costs
✔✔L4L limitation - ✔✔Does not take into account setup costs or capacity limitations
✔✔Inventory management - ✔✔Two goals: enough inventory to satisfy customer
demand, avoid too much inventory (low ROI)
✔✔Holding, setup, reordering, shortage - ✔✔Inventory cost types
✔✔Holding costs - ✔✔Costs for storage
✔✔Setup costs - ✔✔Costs for obtaining necessary materials
✔✔Reordering costs - ✔✔Costs of placing an order to reorder from suppliers
