GSCM 520 DeVry Week 6 Quiz

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GSCM 520 DeVry Week 6 Quiz

GSCM520

GSCM 520 DeVry Week 6 Quiz

 

GSCM 520 DeVry Week 6 Quiz

Question 1.1.(TCO 4) Which of the following is one of the categories of manufacturing inventory?(Points : 3)

  • Economic Order Inventory
  • Work-in-process
  • Quality units
  • JIT Inventory
  • Re-order point

Question 2.2.(TCO 4) When developing inventory cost models, which of the following are not included as costs to place an order?(Points : 3)

  • Phone calls
  • Taxes
  • Clerical
  • Calculating quantity to order
  • Postage

Question 3.3.(TCO 4) In making any decision that affects inventory size, which of the following costs do not need to be considered?(Points : 3)

  • Holding costs
  • Setup costs
  • Ordering costs
  • Fixed costs
  • Shortage costs

Question 4.4.(TCO 4) Which of the following are fixed-order quantity inventory models?(Points : 3)

  • Economic order quantity model
  • The ABC model
  • Periodic replenishment model
  • Cycle counting model
  • P model

Question 5.5.(TCO 4) Which of the following is the set of all cost components that make up the fixed-order quantity total annual cost (TC) function?(Points : 3)

  • Annual purchasing cost, annual ordering cost, fixed cost
  • Annual holding cost, annual ordering cost, unit cost
  • Annual holding cost, annual ordering cost, annual purchasing cost
  • Annual lead time cost, annual holding cost, annual purchasing cost
  • Annual unit cost, annual set up cost, annual purchasing cost

Question 6.6.(TCO 4) If annual demand is 50,000 units, the ordering cost is $25 per order, and the holding cost is $5 per unit per year, which of the following is the optimal order quantity using the fixed-order quantity model?(Points : 3)

  • 909
  • 707
  • 634
  • 500
  • 141

Question 7.7.(TCO 4) If the average aggregate inventory value is $100,000 and the cost of goods sold is $450,000, which of the following is inventory turnover?(Points : 3)

  • 19.23
  • 4.5
  • 0.8654
  • 0.2222
  • None of the above

Question 8.8.(TCO 3) In Hau Lee’s uncertainty framework to classify supply chains, a supply chain for functional products with a stable supply process is called which of the following?(Points : 3)

  • Efficient
  • Forward looking
  • Agile
  • Risk hedging
  • Responsive

Question 9.9.(TCO 3) Which of the following is an organizationally driven reason for outsourcing?(Points : 3)

  • Improve effectiveness by focusing on what the firm does best
  • Turn fixed costs into variable costs
  • Reduce costs through lowered cost structure and increased flexibility
  • Improve risk management
  • Improve credibility and image by associating with superior providers

Question 10.10.(TCO 3) Which of the following is an improvement-driven reason for outsourcing?(Points : 3)

  • Shorten cycle time
  • Improve effectiveness by focusing on what the firm does best
  • Increase product and service value by improving response to customer needs
  • Turn fixed costs into variable costs
  • Reduce costs through a lower cost structure