dolution

QUESTION 1

The total annual inventory cost will be minimized when the lot size equals what amount?

Group of answer choices

Ordering cost

Economic order quantity

Holding cost

Demand

Minimum batch cost

QUESTION 2

The primary objective of an inventory system is to determine

Group of answer choices

What products will sell and what quantity is required.

Who an order should be placed with and how many are needed.

What quantity is required and where the order should be stored.

When items should be ordered and how they should be shipped.

When items should be ordered and what quantity should be ordered.

QUESTION 3

What items are often kept in inventory for a service company?

Group of answer choices

RFID

MRO

ROP

QFD

EOQ

QUESTION 4

What kind of demand can be derived from a “parent” item or can be a component part?

Group of answer choices

Correlated

Aggregate

Intermittent

Independent

Dependent

QUESTION 5

If the excess cost is higher than the shortage cost, then you should…

Group of answer choices

Order the average expected demand.

Order more than the average expected demand.

More information is needed to answer this question.

Order fewer than the average expected demand.

It depends on the accuracy of the forecast.