In the basic EOQ model, an annual demand of 40 units, an ordering cost of $5, and a holding cost of $1 per unit per year will result in an EOQ of:

Select one:

a. 10

b. 200

c. 20

d. 10

Given an actual demand of 59, a previous forecast of 64, and an alpha of .3, what would the forecast for the next period be using simple exponential smoothing?

Select one:

a. 36.90

b. 62.50

c. 67.50

d. 57.50

The fundamental purpose for the existence of any organization is described by its:

Select one:

a. procedures

b. bylaws

c. mission statement

d. policies

If average demand for an inventory item is 200 units per day, lead time is three days, and safety stock is 100 units, the reorder point is:

Select one:

a. 700

b. 500

c. 200

d. 300