Name:

Version:

$($MAN$3504)$ Final Exam $-$ April $22,2024$

This exam is worth $100$ points $($all questions worth $4$ points$).$ There is only one correct answer pe

Inventory can be defined as:

A$.$ A stock of material used to satisfy customer demand or to support the production of serv

B$.$ Materials or stock used to lower cost and speed delivery.

C$.$ A series in material inflows and outflows that defines product storage.

D$.$ A core resource that generates customer demand and support production of goods and

Aspects of Anticipation Inventory include:

A$.$ Seasonal supply, uneven demand, pilferage

B$.$ Uneven supply, seasonal demand, peaks in demand

C$.$ Time management, peak demand, stockouts

D$.$ Transfer pricing, random error, constant demand.

What are the $3$ categories of inventory?

A$.$ Protection Interval, Inflow, outflow

B$.$ Safety Stock, Pipeline, Reserve

C$.$ Raw material, Work$-$in$-$Process, Finished goods

D$.$ Pipeline, Seasonal, Annual

Which of the following statements about the continuous review system $($Q$)$ is WRO

A$.$ The inventory level is checked after each transaction

B$.$ The order quantity is fixed

C$.$ The continuous review system makes it easy to combine orders for the same sup

D$.$ The continuous review system works best with a software supported inventory

The Inventory Position...

A$.$ can be seen as a theoretical inventory level

B$.$ is the same than the on hand inventory

C$.$ is always different from the on hand inventory

D$.$ is only important during the lead time

$1$