Question: Question 13 (4 points) ____________is an inventory record system that keeps a continuous account of transactions as they occur: Perpetual inventory system Periodic inventory system
Question 13 (4 points)
____________is an inventory record system that keeps a continuous account of transactions as they occur:
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Perpetual inventory system
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Periodic inventory system
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Two-bin system
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Safety stock system
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All the above keep a continuous account
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Question 14 (4 points)
Using the periodic review system the target level is:
I. forecast demand during lead time
II. forecast demand during the review period
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I
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II
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the sum of I and II
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the sum of I and II plus the safety stock
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none of the above
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Question 15 (4 points)
If the lead time is 1 week, the review period 1 week, the average demand 100 units per week and the safety stock is 50 units, the target level will be:
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50 units
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200 units
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250 units
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300 units
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none of the above
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Question 16 (4 points)
If the target level is 600 and the the current inventory is 150, what is the order quantity?
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150 units
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200 units
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250 units
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450 units
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none of the above
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Question 17 (4 points)
What is the average inventory if the order quantity is 600, the safety stock is 80, and the weekly sales/usage is 150?
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230
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380
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830
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530
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Question 18 (3 points)
List the numbers that are usually required for calculating an Order Point:
Demand history
Unit cost
Ordering cost
Delivery lead time
Review lead time
Forecasted demand rate
Periodic review target
Standard deviation of demand
Service level requirement
Safety stock
Current inventory
Question 19 (4 points)
List the numbers that are usually required for calculating a Periodic Review Target:
Demand history
Unit cost
Ordering cost
Delivery lead time
Review lead time
Forecasted demand rate
Periodic review target
Standard deviation of demand
Service level requirement
Safety stock
Current inventory
Question 20 (2 points)
List the numbers that are usually required for calculating a Safety Stock:
Demand history
Unit cost
Ordering cost
Delivery lead time
Review lead time
Forecasted demand rate
Periodic review target
Standard deviation of demand
Service level requirement
Safety stock
Current inventory
Question 21 (2 points)
List the numbers that are usually required for calculating a Periodic Review Order:
Demand history
Unit cost
Ordering cost
Delivery lead time
Review lead time
Forecasted demand rate
Periodic review target
Standard deviation of demand
Service level requirement
Safety stock
Current inventory
Question 22 (2 points)
List the numbers that are usually required for calculating a Standard Deviation:
Demand history
Unit cost
Ordering cost
Delivery lead time
Review lead time
Forecasted demand rate
Periodic review target
Standard deviation of demand
Service level requirement
Safety stock
Current inventory
Question 23 (1 point)
List the numbers that are usually required for calculating a Forecast:
Demand history
Unit cost
Ordering cost
Delivery lead time
Review lead time
Forecasted demand rate
Periodic review target
Standard deviation of demand
Service level requirement
Safety stock
Current inventory
Question 24 (10 points)
List the 3 systems for planning and ordering inventory.
Question 25 (10 points)
Average usage = 1000/mo Standard deviation = 100 Desired service level = 95% Calculate safety stock
Question 26 (10 points)
Describe at least 3 costs associated with inventory
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