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UA OM 300 Chilcutt Exam 4: Questions & Complete Solutions
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UA OM 300 Chilcutt Exam 4: Questions & Complete Solutions
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UA OM 300 Chilcutt Exam 4: Questions & CompleteSolutions
One use of inventory is Right Ans - to provide a hedge against inflation.
The objective of inventory management is to Right Ans - strike a balance
between inventory investment and customer service
Which of the following is NOT a type of inventory?
A. raw material
B. finished goods
C. MRP
D. work-in-process Right Ans - MRP
Which of the following does NOT belong to holding costs?
A. pilferage, scrap, and obsolescence
B. order processing
C. storage costs
D. insurance on inventory Right Ans - order processing
What is the cost to prepare a machine or process for production? Right Ans
- setup cost
Extra units that are held in inventory to reduce stockouts are called Right
Ans - safety stock
Which of the following is NOT one of Taiichi Ohno's seven wastes?
A. queues
B. motion
C. energy
D. transportation Right Ans - energy
What is a concept that results in material being produced only when
requested and moved to where it is needed just as it is needed? Right Ans -
pull system
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