第8章 运作管理.docx

1、第8章 运作管理CHAPTER 8: INVENTORY MANAGEMENTTRUE/FALSE1.According to the global company profile, As advantage in inventory management comes from its almost fanatical use of economic order quantity and safety stock calculations.False (Global company profile, easy)2.A major challenge in inventory managemen

2、t is to maintain a balance between inventory investment and customer service.True (Introduction, easy)3.Which item to order and with which supplier the order should be placed are the two fundamental issues in inventory management.False (Introduction, moderate)4.One function of inventory is to take a

3、dvantage of quantity discounts.True (Functions of inventory, easy)5.Work-in-process inventory is devoted to maintenance, repair, and operations.False (Functions of inventory, easy)6.ABC analysis classifies inventoried items into three groups, usually based on annual units or quantities used.False (I

4、nventory management, easy)7.In ABC analysis, A Items are the most tightly controlled.True (Inventory management, moderate)8.ABC analysis is based on the presumption that carefully controlling all items is necessary to produce important inventory savings.False (Inventory management, easy)9.Cycle coun

5、ting is an inventory control technique exclusively used for cyclical items.False (Inventory management, moderate)10.One advantage of cycle counting is that it maintains accurate inventory records.True (Inventory management, moderate)11.In cycle counting, the frequency of item counting and stock veri

6、fication usually varies from item to item depending upon the items classification.True (Inventory management, moderate)12.Retail inventory that is unaccounted for between receipt and time of sale is known as shrinkage.True (Inventory management, moderate)13.The demand for automobiles would be consid

7、ered an independent demand.True (Inventory models, moderate)14.Insurance and taxes on inventory are part of the costs known as setup or ordering costs.False (Inventory models, easy)15.If setup costs are reduced by substantial reductions in setup time, the production order quantity is also reduced.Tr

8、ue (Inventory models, and Inventory models for independent demand, easy)16.The EOQ model is best suited for items whose demand is dependent on other products.False (Inventory models for independent demand, moderate)17.In the simple EOQ model, if annual demand were to increase, the EOQ would increase

9、 proportionately.False (Inventory models for independent demand, moderate)18.At the economic order quantity, holding costs are equal to purchasing costs.False (Inventory models for independent demand, moderate)19.In the simple EOQ model, if the carrying cost were to double, the EOQ would also double

10、.False (Inventory models for independent demand, moderate)20.In the production order quantity (POQ) model, inventory does not arrive in a single moment but flows in at a steady rate, resulting in a larger lot size than in an otherwise identical EOQ problem. True (Inventory models for independent dem

11、and, moderate)21.The reorder point is the inventory level at which action is taken to replenish the stocked item.True (Inventory models for independent demand, moderate)22.In the quantity discount model, it is possible to have a cost-minimizing solution where annual ordering costs do not equal annua

12、l carrying costs.True (Inventory models for independent demand, moderate)23.In the quantity discount model, the cost of acquiring goods (product cost) is not a factor in determining lot size.False (Inventory models for independent demand, easy)24.Service level is the complement of the probability of

13、 a stockout.True (Probabilistic models and safety stock, moderate)25.Units of safety stock are additions to the reorder point that allow for variability in the rate of demand, the length of lead time, or both.True (Probabilistic models and safety stock, easy)26.Safety stock in inventory systems depe

14、nds only on the average demand during the lead time.False (Probabilistic models and safety stock, moderate)27.The fixed-period inventory model can have a stockout during the review period as well as during the reorder period, which is why fixed-period models require more safety stock than fixed-quan

15、tity models.True (Inventory models for independent demand, easy)MULTIPLE CHOICE28.Which of the following statements regarding A is false? a. The company was opened by Jeff Bezos in 1995. b. The company was founded as, and still is, a virtual retailer with no inventory. c. The company is now a world-

16、class leader in warehouse management and automation. d. The company uses both United Parcel Service and the U.S. Postal Service as shippers. e. Amazon obtains its competitive advantage through inventory management. b (Global company profile, moderate)29.Which of the following is a function of invent

17、ory? a. to decouple or separate parts of the production process b. to decouple the firm from fluctuations in demand and provide a stock of goods that will provide a selection for customers c. to take advantage of quantity discounts d. to hedge against inflation e. All of the above are functions of i

18、nventory. e (Functions of inventory, moderate)30.Which of the following would not generally be a motive for a firm to hold inventories? a. to decouple or separate parts of the production process b. to provide a stock of goods that will provide a selection for customers c. to take advantage of quanti

19、ty discounts d. to minimize holding costs e. All of the above are functions of inventory. d (Functions of inventory, moderate)31.Which of the following is not one of the four main types of inventory? a. raw material inventory b. work-in-process inventory c. maintenance/repair/operating supply invent

20、ory d. safety stock inventory e. All of these are main types of inventory. d (Functions of inventory, moderate)32.Which of the following statements about ABC analysis is false? a. ABC analysis is based on the presumption that controlling the few most important items produces the vast majority of inv

21、entory savings. b. In ABC analysis, A Items are tightly controlled, have accurate records, and receive regular review by major decision makers. c. In ABC analysis, C Items have minimal records, periodic review, and simple controls. d. ABC analysis is based on the presumption that all items must be t

22、ightly controlled to produce important cost savings. e. All of the above statements are true. d (Inventory management, moderate)33.All of the following statements about ABC analysis are true except a. inventory may be categorized by measures other than dollar volume b. it categorizes on-hand invento

23、ry into three groups based on annual dollar volume c. it is an application of the Pareto principle d. it states that all items require the same degree of control e. it states that there are the critical few and the trivial many inventory items d (Inventory management, moderate)34.ABC analysis is bas

24、ed upon the principle that a. all items in inventory must be monitored very closely b. there are usually a few critical items, and many items which are less critical c. an item is critical if its usage is high d. the safety stock (in terms of volume) should be higher for A items than for C items e.

25、an item is critical if its unit price is high b (Inventory management, moderate)35.ABC analysis divides on-hand inventory into three classes, generally based upon a. item quality b. unit price c. the number of units on hand d. annual demand e. annual dollar volume e (Inventory management, moderate)3

26、6.Cycle counting a. is a process by which inventory records are verified once a year b. provides a measure of inventory accuracy c. provides a measure of inventory turnover d. assumes that all inventory records must be verified with the same frequency e. assumes that the most frequently used items m

27、ust be counted more frequently b (Inventory management, moderate)37.Which of the following statements regarding control of service inventories is true? a. Service inventory is a fictional concept, because services are intangible. b. Service inventory needs no safety stock, because theres no such thi

28、ng as a service stockout. c. Effective control of all goods leaving the facility is one applicable technique. d. Service inventory has carrying costs but not setup costs. e. All of the above are true. c (Inventory management, moderate)38.The two most basic inventory questions answered by the typical

29、 inventory model are a. timing and cost of orders b. quantity and cost of orders c. timing and quantity of orders d. order quantity and service level e. ordering cost and carrying cost c (Inventory models for independent demand, moderate)39.Among the advantages of cycle counting is that it a. makes

30、the annual physical inventory more acceptable to management b. does not require the detailed records necessary when annual physical inventory is used c. does not require highly trained people d. allows more rapid identification of errors and consequent remedial action than is possible with annual ph

31、ysical inventory e. does not need to be performed for less expensive items d (Inventory management, moderate)40.Which of the following are elements of inventory holding costs? a. housing costs b. material handling costs c. investment costs d. pilferage, scrap, and obsolescence e. All of the above ar

32、e elements of inventory holding cost. e (Inventory models, moderate)41.Which of the following is not an assumption of the economic order quantity model shown below? a. Demand is known, constant, and independent. b. Lead time is known and constant. c. Quantity discounts are not possible. d. Production and use can occur simultaneously. e. The only variable c