Devry GSCM520/GSM 520 Week 6 quiz (All Correct) - 88622

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Question 1.1.(TCO 4) Which of the following is one of the categories of manufacturing inventory?(Points : 3) Economic Order Inventory Work-in-process Quality units JIT Inventory Re-order point Question 2.2.(TCO 4) When developing inventory cost models, which of the following are not included as costs to place an order?(Points : 3) Phone calls Taxes Clerical Calculating quantity to order Postage Question 3.3.(TCO 4) In making any decision that affects inventory size, which of the following costs do not need to be considered?(Points : 3) Holding costs Setup costs Ordering costs Fixed costs Shortage costs Question 4.4.(TCO 4) Which of the following are fixed-order quantity inventory models?(Points : 3) Economic order quantity model The ABC model Periodic replenishment model Cycle counting model P model Question 5.5.(TCO 4) Which of the following is the set of all cost components that make up the fixed-order quantity total annual cost (TC) function?(Points : 3) Annual purchasing cost, annual ordering cost, fixed cost Annual holding cost, annual ordering cost, unit cost Annual holding cost, annual ordering cost, annual purchasing cost Annual lead time cost, annual holding cost, annual purchasing cost Annual unit cost, annual set up cost, annual purchasing cost Question 6.6.(TCO 4) If annual demand is 50,000 units, the ordering cost is $25 per order, and the holding cost is $5 per unit per year, which of the following is the optimal order quantity using the fixed-order quantity model?(Points : 3) 909 707 634 500 141 Question 7.7.(TCO 4) If the average aggregate inventory value is $100,000 and the cost of goods sold is $450,000, which of the following is inventory turnover?(Points : 3) 19.23 4.5 0.8654 0.2222 None of the above Question 8.8.(TCO 3) In Hau Lee's uncertainty framework to classify supply chains, a supply chain for functional products with a stable supply process is called which of the following?(Points : 3) Efficient Forward looking Agile Risk hedging Responsive Question 9.9.(TCO 3) Which of the following is an organizationally driven reason for outsourcing?(Points : 3) Improve effectiveness by focusing on what the firm does best Turn fixed costs into variable costs Reduce costs through lowered cost structure and increased flexibility Improve risk management Improve credibility and image by associating with superior providers Question 10.10.(TCO 3) Which of the following is an improvement-driven reason for outsourcing?(Points : 3) Shorten cycle time Improve effectiveness by focusing on what the firm does best Increase product and service value by improving response to customer needs Turn fixed costs into variable costs Reduce costs through a lower cost structure
Solution Description

Question 1.1.(TCO 4) Which of the following is one of the categories of manufacturing inventory?(Points : 3)

Economic Order Inventory

Work-in-process

Quality units

JIT Inventory

Re-order point

Question 2.2.(TCO 4) When developing inventory cost models, which of the following are not included as costs to place an order?(Points : 3)

Phone calls

Taxes

Clerical

Calculating quantity to order

Postage

Question 3.3.(TCO 4) In making any decision that affects inventory size, which of the following cost

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