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ISOM 351 Final Questions and Answers with Complete
Solutions UPDATED!!!
What are the reasons to hold inventory:
A. Meet unexpected demand
B. Take advantage of Quantity Discounts
C. Hedge against price increases
D. All of the above - ANSWER D. All of the above
Wrong reasons to hold inventory are:
A. Poor quality
B. Unreliable suppliers
C. Poor production reliability
D. All of the above - ANSWER D. All of the above
Types of Inventory include:
A. Raw materials
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B. Work-in-Process
C. Finished goods
D. All of the above - ANSWER D. All of the above
T/F: EOQ stands for Economic Order Quantity. - ANSWER True
T/F: A periodic review system is a system in which an item's
inventory position is reviewed periodically rather than
continuously. - ANSWER True
T/F: Supply chain management tries to match the flow of
materials, services and information with demand. - ANSWER
True
T/F: The purpose of supply chain design is to shape a firm's
supply chain to meet the competitive priorities of its operations
strategies. - ANSWER True
T/F: The fundamental purpose of supply chain design for a
manufacturer is to control inventories by managing the flow of
materials. - ANSWER True
ISOM 351 Final Questions and Answers with Complete
Solutions UPDATED!!!
What are the reasons to hold inventory:
A. Meet unexpected demand
B. Take advantage of Quantity Discounts
C. Hedge against price increases
D. All of the above - ANSWER D. All of the above
Wrong reasons to hold inventory are:
A. Poor quality
B. Unreliable suppliers
C. Poor production reliability
D. All of the above - ANSWER D. All of the above
Types of Inventory include:
A. Raw materials
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B. Work-in-Process
C. Finished goods
D. All of the above - ANSWER D. All of the above
T/F: EOQ stands for Economic Order Quantity. - ANSWER True
T/F: A periodic review system is a system in which an item's
inventory position is reviewed periodically rather than
continuously. - ANSWER True
T/F: Supply chain management tries to match the flow of
materials, services and information with demand. - ANSWER
True
T/F: The purpose of supply chain design is to shape a firm's
supply chain to meet the competitive priorities of its operations
strategies. - ANSWER True
T/F: The fundamental purpose of supply chain design for a
manufacturer is to control inventories by managing the flow of
materials. - ANSWER True
