Which step is the development of benchmarks? a. Taking action to match or exceed. b. Developing an expression for setup or ordering cost. c. Setting up (order) cost equal to holding cost. d. Solving the equation for the optimal order quantity. Which option is a disadvantage of aggregate planning options? a. Tries to use excess capacity. b. Fully utilises resources; allows stable workforce. c. Hiring, layoff and training costs may be significant. d. Good for unskilled jobs in areas with large temporary labour pools. How can sales and operations planning (S\&OP) be defined? a. A simple technique that assumes that demand in the next period will be equal to demand in the most recent period. b. A process that provides the basis for seeing an entire organisation as a system of interconnected processes, which in some cases makes it possible to analyse an organisation. c. A process similar to jobbing, except that it involves higher volumes and lower variety. d. A business management process during which leadership and executive teams meet to ensure that each business function is aligned to balance supply and demand. Which option matches appraisal costs? a. Costs related to evaluating products, processes, parts and services. b. Costs that occur after the delivery of defective parts or services. c. Costs that result from the production of defective parts or services. d. Costs associated with reducing the potential for defective parts or services