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ISQS 3344 Final Exam Questions And Answers With Real Solutions 2024
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ISQS 3344 Final Exam Questions And Answers With Real Solutions 2024
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ISQS 3344 Final Exam Questions AndAnswers With Real Solutions 2024
Which .system .or .model .should .be .used .when .the .inventory .situation .is .the .following:
.strictly .one .order .is .placed .for .a .good .in .anticipation .of .a .future .selling .season .and .its
.demand .is .subject .to .considerable .uncertainty? .- .correct .answer.The .single-period
.inventory .model
Consider .ABC .inventory .analysis .and .its .components. .For .class .A .items, .which .of .the
.following .statements .is .most .accurate? .- .correct .answer.They .require .close .control .by
.operations .managers.
Which .type .of .costs .can .be .representative .of .service .interruptions .or .backorders .for
.external .customers, .from .the .standpoint .of .inventory .costs? .- .correct .answer.Stockout
.costs
________ .can .be .described .as .a .surplus .amount .of .inventory .which .is .kept, .exceeding
.the .average .amount .needed .to .meet .demand. .- .correct .answer.Safety .stock .inventory
Bright .Tots .Toys .manages .its .inventories .by .utilizing .a .fixed-quantity .system. .Batteries
.and .plastic .are .included .in .their .inventory. .A .manager .reports .that .the .company
.frequently .finds .itself .dealing .with .a .stockout .of .plastic. .The .7-day .demand .for .plastic .is
.50 .pounds, .on .average. .Further, .the .standard .deviation .of .7-day .demand .is
.approximately .5. .The .lead .time .from .the .plastic .supplier .is .14 .days. .The .acceptable
.service .level .is .95 .percent, .and .the .number .of .standard .deviations .required .to .reach .the
.acceptable .service .level .is .1.645. .With .all .of .this .in .mind, .the .reorder .point .for .plastic .with
.safety .stock .is .________. .- .correct .answer.less .than .or .equal .to .125 .pounds
UL .= .50 .*2 .= .100
OL .= .5sqrt2 .= .7.071
150 .+ .(1.645 .× .7.07) .= .111.63
Recall .ABC .inventory .analysis. .Choose .the .most .accurate .statement .below .as .it .pertains
.to .class .C .items. .- .correct .answer.They .can .be .managed .using .automated .computer
.systems.
A .buyer .for .Fuzzy .Threads, .an .apparel .store, .orders .ear .muffs .approximately .6 .months
.before .the .start .of .winter. .Fuzzy .Threads .will .be .holding .a .March .clearance .sale .to .sell
, .any .surplus .goods .leftover .after .the .last .day .of .February. .Each .set .of .ear .muffs .costs
.$100 .and .sells .for .$140. .The .expectation .is .for .any .remaining .stock .to .be .sold .off .during
.the .March .sale .at .the .price .of .$80. .You .can .assume .a .uniform .probability .distribution
.ranging .from .200 .to .500 .items .describes .the .demand. .The .expected .demand .is .300. .In
.the .context .of .the .single .period .inventory .system, .the .optimal .order .size .Q* .must .satisfy
.the .condition ._______. .- .correct .answer.P(demand .≤ .Q*) .= .2/3
Stable .demand .is .typically .referred .to .as .________. .- .correct .answer.static .demand
Stark .Forge .Inc., .is .an .iron .beam .manufacturing .company. .It .orders .200 .metric .tons .of
.raw .material .per .order. .A .manager .recently .revealed .to .the .company's .executives .that
.Stark .Forge .frequently .faces .stockout. .To .deal .with .this .problem, .Stark .Forge
.incorporated .a .fixed-quantity .system .(FQS) .and .gathered .the .data .seen .in .the .table
.below.
Demand15,000 .metric .tons .per .yearOrder .Cost$6,500 .per .orderItem .Cost$50,000 .per
.yearInventory-Holding .Cost15 .percent .per .year
Based .on .the .information .provided, .Stark .Forge .determined .the .economic .order .quantity
.(EOQ) .needed .to .be .160 .metric .tons. .In .this .scenario, .the .yearly .amount .that .Stark .Forge
.can .save .by .ordering .as .per .the .EOQ .instead .of .its .conventional .order .is .________. .-
.correct .answer.less .than .$45,000
Ch .= .0.15 .* .$50,000 .= .$7,500
TC200 .= .1/2 .* .200 .* .$7,500 .+ .15,000/200 .* .$6,500 .= .$1,237,500
TC160 .= .1/2 .* .160 .* .$7,500 .+ .15,000/160 .* .$6,500 .= .$1,209,375
Savings .= .$1,237,500 .- .$1,209,375 .= .$28,125
Storage .Craft .Inc., .a .cabinet .manufacturer, .employs .ABC .analysis .to .define .their
.inventory .value. .The .inventory .contains .wood, .copper, .adhesive, .and .carbon .fiber. .If
.carbon .fiber .accounts .for .10 .percent .of .the .items .and .55 .percent .of .the .total .dollar .value;
.adhesive .accounts .for .50 .percent .of .the .items .and .7 .percent .of .the .total .dollar .value;
.copper .accounts .for .25 .percent .of .the .items .and .18 .percent .of .the .total .dollar .value; .and
.wood .accounts .for .15 .percent .of .the .items .and .20 .percent .of .the .total .dollar .value,
.________ .can .be .classified .as .a .class .C .item. .- .correct .answer.adhesive
The .following .table .contains .information .about .the .inventory .management .of .a .stock-
keeping .unit. .Using .this .information, .what .is .the .economic .time .interval .for .securing .an
.optimal .policy .for .a .fixed-period .system .(FPS)? .Assume .one .year .has .52 .weeks.
Demand .20,000 .units .per .year .Order .Cost .$50 .per .order .Inventory-Holding .Cost .$0.5 .per
.unit .per .year .Lead .Time .2 .weeks .Standard .Deviation .in .Weekly .Demand .7 .Service .Level
.95 .percent .- .correct .answer.More .than .3 .weeks .but .less .than .or .equal .to .6 .weeks
Q* .= .sqrt(2*20,000*50/0.5) .= .2000
T .= .2000/20000 .= .0.1
T .= .0.1 .* .52 .= .5.2
Which .type .of .analysis .can .solve .a .single-period .inventory .problem? .- .correct
.answer.Marginal .economic .analysis
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