is used to protect against timing uncertainty by planning order releases and order receipts earlier than required.
A. Fast order release
B. Safety lead time
C. Direct release
D. Lead command
A calculated extra amount of stock carried and is generally used to protect against quantity uncertainty in known as:
A. Safety stock
B. Average stock
C. Secure stock
D. All of the above
A full load costs more per ton to ship than a part load
A. True
B. False
When the quantity of an item on hand in inventory falls to a predetermined level called:
A. Demand point
B. Lead level
C. Order point
D. None of the above
uses the economic-order-quantity formula to calculate an economic time between orders.
A. production-order quantity
B. period-order quantity
C. inventory-carrying-order quantity
D. All of the above
The formula to calculate the period-order quantity is:
A. Period-order quantity = EOQ / average yearly usage
B. Period-order quantity = EOQ / average monthly usage
C. Period-order quantity = EOQ * average monthly usage
D. Period-order quantity = EOQ / average weekly usage Where EOQ is Economic-Order- Quantity
The purchase cost of the stock-keeping units or the cost of manufacturing the item is called:
A. Unit cost
B. Key cost
C. Economic cost
D. Elementary cost
The Economic-order quantity will increase as the annual demand and the cost of ordering decrease, and it will decrease as the cost of carrying inventory and the unit cost increase.
A. True
B. False
What occurs when the cost of ordering equals the cost of carrying?
A. Exact-order completeness
B. Predetermined carrying cost
C. Economic-order quantity
D. Ordering cost quantity
Annual cost of pacing orders and annual cost of carrying inventory, together forms:
A. Annual cost
B. Determined cost
C. Permanent cost
D. Relevant cost
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