OM Ch 11 12 16

1370 Words Apr 22nd, 2015 6 Pages
Supply chain managers outsource logistics to meet three goals:
Drive down inventory investment, lower delivery costs, and improve delivery reliability and speed.

What is transferring a firm’s activities that have traditionally been internal to external suppliers? Outsourcing

A supply chain ends with A satisfied customer

The advantage of having few suppliers is to Form a long-term relationship

Which negotiation strategy bases price on a published, auction, or index price? Market-based price model

What is developing the ability to produce goods or services previously purchased or actually buying a supplier or a distributor? Vertical integration

Mattress Wholesalers, Inc. is constantly trying to reduce inventory in its supply
…show more content…
Single-period inventory model

One use of inventory is To provide a hedge against inflation

A system that triggers ordering on a uniform time basis is called A fixed-period system

A statistical model applicable when product demand or any other variable is not known but can be specified by means of a probability distribution is referred as A probabilistic model

ABC analysis divides an organization’s on-hand inventory into three classes based upon Annual dollar volume

Cynthia Knott’s oyster bar buys fresh Louisiana oysters for $5 per pound 125.6 pounds of oysters each day

For seasonal products, the service level should be set to equal Shortage cost/ (overage cost + shortage cost)

Which of the following is NOT a type of inventory? MRP

Inventory record accuracy would be decreased by Increasing stockroom accessibility

A system that keeps track of each withdrawal or addition to inventory continuously is A perpetual inventory system

Henrique Correa’s bakery prepares all its cakes between 4 am and 6 am The optimal stocking level for the bakery is 27 cakes

The objective of inventory management is to Strike a balance between inventory investment and customer service

Inventory control models assume that demand for an item is Either independent of or dependent on the demand for other items

Which of the following types of inventory describes inventory that has been purchased but

More about OM Ch 11 12 16

Open Document