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BPT 1501 ASSIGNMENT 7 WITH QUESTIONS AND WELL VERIFIED ANSWERS[ACTUAL EXAM 100%] GRADED A+

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BPT 1501 ASSIGNMENT 7 WITH QUESTIONS AND WELL VERIFIED ANSWERS[ACTUAL EXAM 100%] GRADED A+ Describe dependent demand - ANS---internal demand for parts based on demand for the final product Describe independent demand - ANS---demand for a firm's end product What does the EOQ model seek to accomplish? - ANS--- Economic Order Quantity find the optimal order size that minimizes the sum of the total annual inventory costs What is the basic premise of the quantity discount model? - ANS---the cost per piece goes down with larger orders What is a reorder point? - ANS---the lowest inventory level at which a new order must be placed to avoid a stockout Explain the basic concept of continuous review and periodic review systems. - ANS---physical inventory done continuously or periodically What are the four broad categories of inventory? - ANS---raw materials work-in-progress finished goods maintenance, repair & operations (MRO) What are the inventory cost categories? - ANS---direct, indirect, fixed, variable, order/setup, holding/carrying What is inventory turn ratio? - ANS---how many times inventory can turn over in a given period

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BPT 1501 ASSIGNMENT 7 WITH
QUESTIONS AND WELL
VERIFIED ANSWERS[ACTUAL
EXAM 100%] GRADED A+




Describe dependent demand - ANS✔✔---internal demand for parts
based on demand for the final product
Describe independent demand - ANS✔✔---demand for a firm's end
product
What does the EOQ model seek to accomplish? - ANS✔✔---
Economic Order Quantity
find the optimal order size that minimizes the sum of the total annual
inventory costs
What is the basic premise of the quantity discount model? -
ANS✔✔---the cost per piece goes down with larger orders

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