3 Points Question 19 Inventory serves as a buffer between supply rate and demand rate. A True B False Question 20 3 Points Which of the following is NOT an Appraisal Quality Cost? A Incoming Materials Inspection B) Rework Final Goods Inspection Process Inspection 5 Points Question 21 SEE COST REDUCTION EXAMPLE - What is the percentage Increase to profit resulting from the 8% Savings in Purchasing? A) 8% B) 24.8% 29.5% D 2.9% Question 22 5 Points SEE BARBERSHOP CAPACITY MODEL - What is the average demand for haircuts on Saturday? 29 30 33 D) 23 BARBERSHOP CAPACITY MODEL A barbershop has the following demand for haircuts on Saturday which is its busiest day of the week. # of Haircuts Probability 20 25 30 35 40 0.1 0.3 0.4 0.1 0.1 What is the average demand for haircuts on Saturday? Question 23 Which are the benefit of using a 3rd Party Logistics Provider (3PL)? A Flexibility B) Lower Cost Expertise D All of the Above 3P Question 24 The process of deciding if a product, part or service should be outsourced or insourced by the firm is called: A Purchasing B Sourcing Outsourcing D Reshoring 3 Points Question 25 Which of these below factors influence process selection decisions? A Market Conditions B) Labor Technology D) All of the Above Question 26 3 Points Assuming a restaurant operates from 11a.m. to 11p.m. seven days a week, and it can serve a maximum of 40 patrons per hour, how much weekly capacity does the restaurant have in terms of customers? 280 B 3640 3360 None of the Above 3 Points Question 19 Inventory serves as a buffer between supply rate and demand rate. A True B False Question 20 3 Points Which of the following is NOT an Appraisal Quality Cost? A Incoming Materials Inspection B) Rework Final Goods Inspection Process Inspection 5 Points Question 21 SEE COST REDUCTION EXAMPLE - What is the percentage Increase to profit resulting from the 8% Savings in Purchasing? A) 8% B) 24.8% 29.5% D 2.9% Question 22 5 Points SEE BARBERSHOP CAPACITY MODEL - What is the average demand for haircuts on Saturday? 29 30 33 D) 23 BARBERSHOP CAPACITY MODEL A barbershop has the following demand for haircuts on Saturday which is its busiest day of the week. # of Haircuts Probability 20 25 30 35 40 0.1 0.3 0.4 0.1 0.1 What is the average demand for haircuts on Saturday? Question 23 Which are the benefit of using a 3rd Party Logistics Provider (3PL)? A Flexibility B) Lower Cost Expertise D All of the Above 3P Question 24 The process of deciding if a product, part or service should be outsourced or insourced by the firm is called: A Purchasing B Sourcing Outsourcing D Reshoring 3 Points Question 25 Which of these below factors influence process selection decisions? A Market Conditions B) Labor Technology D) All of the Above Question 26 3 Points Assuming a restaurant operates from 11a.m. to 11p.m. seven days a week, and it can serve a maximum of 40 patrons per hour, how much weekly capacity does the restaurant have in terms of customers? 280 B 3640 3360 None of the Above