MGT 323 PRINCIPLES OF SUPPLY CHAIN MANAGEMENT Week 3 Quiz Answers

MGT 323 PRINCIPLES OF SUPPLY CHAIN MANAGEMENT Week 3 Quiz Answers

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Question 1 

Which one of the following is not a type of qualitative forecasting?

Question 2 

What inventory factor may be omitted from the basic EOQ derivation because it is a constant?

Question 3 

Inventory turnover ratio shows how many times a firm turns over its inventory in an accounting period. Faster turnovers are generally viewed as negative because it indicates instability in the firm's inventory level.

Question 4

When designing a manufacturing or service process, or even during the reengineering of such a process, a Pareto chart would be an essential tool for evaluating the process in terms of its action elements, waiting periods, and process flow.

Question 5 

Which of the following basic production strategies used for addressing the aggregate planning problem would work best with make-to-order manufacturing firms?

Question 6 

The total annual inventory cost is the sum of the annual purchase cost, the annual holding cost, the annual capacity cost, and the annual ordering cost.

Question 8 

Some of the benefits of CPFR include strengthening partner relationships, providing an analysis of sales and order forecasts both upstream and downstream, and allowing collaboration on future requirements and planning.

Question 9 

Which of the following indices provided by the Institute for Supply Management (ISM) is considered the most important by economists because it is a composite of five weighted, seasonally adjusted indices?

Question 10 

Lean production and Six Sigma quality are essentially two terms that mean the same thing.