UA OM 300 Chilcutt Exam 4 Questions with 100% Complete Answers UPDATED!!!.

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UA OM 300 Chilcutt Exam 4 Questions with 100% Complete
Answers UPDATED!!!


One use of inventory is - ANSWER to provide a hedge against
inflation.


The objective of inventory management is to - ANSWER 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 - ANSWER 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 - ANSWER order processing

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What is the cost to prepare a machine or process for
production? - ANSWER setup cost


Extra units that are held in inventory to reduce stockouts are
called - ANSWER safety stock


Which of the following is NOT one of Taiichi Ohno's seven
wastes?
A. queues
B. motion
C. energy
D. transportation - ANSWER 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? - ANSWER pull system


What is the formula for determining the number of kanban
cards or containers? - ANSWER (Demand during lead time +
Safety stock) / Size of container