Managing Supply Chain Study Set 1

Business

Quiz 9 :

Inventory Management Fundamentals and Independent Demand

Quiz 9 :

Inventory Management Fundamentals and Independent Demand

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Manufacturers that order supplies from their vendors every Monday in order to stabilize purchasing and shipping schedules are using a
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A

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Inventory models that order in regular weekly or monthly time intervals are known as ________ models.
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fixed time period

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Inventory that has been received and is in the production phase is known as
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B

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Inventory that has been received and is in the production phase is known as phased in inventory.
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The probability that an item will be available in stock for order fulfillment when it is needed is known as ________.
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Inventory that is completed and placed into inventory for sale at a later date is known as
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Producing extra inventory during periods of low demand,which is then consumed during periods of high demand,is known as ________.
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The period between placing and receiving an order is known as ________.
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Producing extra inventory during periods of low demand,which is then consumed during periods of high demand is known as
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In fixed time period inventory models,inventory is reordered
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Products that are waiting to be sold to customers are known as
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In fixed time period inventory models,inventory is reordered when it reaches a predetermined stock level.
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Building up inventory in anticipation of unforeseen global supply chain interruptions is known as ________.
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Products sent directly to customers and not placed in finished goods inventory are known as
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Service level is the probability that an item will be available in stock for order fulfillment.
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A store of goods and stocks for some future use is known as ________.
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Manufacturers of seasonal demand products who manufacture the product throughout the year,so as to build up an inventory buffer to be used during the high demand season are using a technique called
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Hallmark manufactures greeting cards throughout the year,building up inventory during lean periods to be utilized during the holiday period.They are using a technique known as ________.
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Production smoothing is balancing the cost of set-ups with inventory carrying costs.
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Inventory that is kept at the intersection of differing stages of production to maintain continuity of processing is called hedge inventory.
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