For the single-period inventory model, solving for the optimal order quantity involves using
Inventory that acts as a buffer between workstations in flow shops or departments in job shops is called ____ inventory.
Inventory position is computed using all the following except
Costs associated with backordering a product are called ____ costs.
Demand that incorporates uncertainty is called ____.
Additional inventory kept over and above the average amount required to meet demand is called ____ inventory.
Using a fixed quantity system (FQS), as the reorder point increases
Which of the following is not a component of holding cost?
Which is not an advantage of the periodic review system?
In ABC inventory analysis, which of the following is true for “C” items?
Demand that is stable over time is called ____.
If forecast demand exceeds the total factory or supply capacity, managers might simply decide not to meet forecast demand. This decision would most likely be made at which planning level?
Capacity requirements are computed by multiplying the number of units scheduled for production at a work center by
Which aggregate planning strategy generally would result in the least amount of inventory?
Setting order sizes and schedules for individual subassemblies and resources by week or day fits best with which level of the generic framework for resource planning?
Which lot sizing rule is best when inventory carrying costs are high and setup/order costs are low?
Assigning people to tasks, setting priorities for jobs and scheduling equipment fits best with which level of the generic framework for resource planning?
An inventory item can be
The Lot-for-Lot (LFL) rule
The words "product family," "budget allocation" and "long-term" fit best with which level of the generic framework for resource planning?
Which of the following is not an aggregate planning decision option?
The direct inputs to material requirements planning include all of the following except
A(n) ____ is a statement of how many finished items are to be produced and when they are to be produced.
The purpose of aggregate planning is to
Which of the following is not correct regarding aggregate planning?
If a work center load report indicates insufficient capacity, options for correcting the problem include all of the following except