UA OM 300 CHILCUTT EXAM 4 CORRECT 100%

UA OM 300 CHILCUTT EXAM 4
CORRECT 100%

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

The objective of inventory management is to - ANSWERstrike a balance between
inventory investment and customer service

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

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? - ANSWERpull system

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

Which of the following is NOT a type of inventory?
A. raw material
B. finished goods
C. MRP
D. work-in-process - ANSWERMRP

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 - ANSWERorder processing

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

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


What is an arrangement in which the supplier maintains title to the inventory until it is
used? - ANSWERconsignment inventory

Which of the following words means continuous improvement in Japanese? -
ANSWERkaizen