Module 2 SCM 300 DAVILA ASU SCM 300 Arizona State University -Question and answers verified to pass

Module 2 SCM 300 DAVILA ASU SCM 300 Arizona State University -Question and answers verified to pass Inventory - correct answer The items that are owned by a company for the purpose of present or future sales or for use in day-to-day operations Lead time - correct answer The period of time between when an order is placed and when the order is received Lot size - correct answer An accepted order size Demand forecasting - correct answer A predictive analysis and/or estimation of consumer demand in a future period SKU (Stock Keeping Unit) - correct answer A specific product or service's identification code used to track inventory or catalog sales Independent Demand - correct answer An item for which demand levels are not directly impacted by the demand of another related item. Dependent Demand - correct answer An item for which demand levels are directly impacted by the demand of another related item 8 Inventory Classifications - correct answer Raw materials, work in process (WIP), finished goods (FG), maintenance repair & operations (MRO), market inventory, safety stock (buffer stock), anticipation inventory, pipeline inventory, Raw Materials - correct answer Typically refers to material, parts, or components that will be used to create an end item or service