BUSI 411 Exam 4 complete solutions correct answers key

Liberty University BUSI 411 Exam 4 complete solutions correct answers key

Question 1 The Operations Manager for Shadyside Savings & Loan orders cash from her home office for her very popular "BIG BUCKS" automated teller machine, which only dispenses $100 bills. She estimates that this machine dispenses an average of 12,500 bills per month, and that carrying a bill in inventory costs 10 percent of its value annually. She knows that each order for these bills costs $300 for clerical and armored car delivery costs, and that order lead time is six days. What is the economic order quantity?

Question 2 In the basic EOQ model, if D = 60 per month, S = $12, and H = $10 per unit per month, EOQ is:

Question 3 The manager of the Quick Stop Corner Convenience Store (which never closes) sells four cases of Stein beer each day. Order costs are $8.00 per order, and Stein beer costs $.80 per six­pack (each case of Stein beer contains four six­packs). Orders arrive three days from the time they are placed. Daily holding costs are equal to 5 percent of the cost of the beer. If he were to order 16 cases of Stein beer at a time, what would be the daily total inventory costs, EXCLUDING the cost of the beer?

Question 4 In a two­bin inventory system, the amount contained in the second bin is equal to the:

Question 5 Which of the following is not true for the economic production quantity model?

Question 6 Which one of the following is not one of the building blocks that is the foundation of the lean philosophy?

Question 7 A system of lights used at each workstation to signal problems or slowdowns is:

Question 8 Having a vendor be responsible for managing the restocking of inventory is what is meant by the term:

Question 9 Breakdown programs often are prioritized such that some equipment gets a lot of attention and other equipment gets very little. This typically reflects the fact that breakdowns are consistent with:

Question 10 The goal of maintenance is to maintain the productive system in good working order while minimizing:

Question 11 It is especially the case for small businesses that closer interactions and increased agility make __________ relatively more attractive.

Question 12 Which of the following is not a goal of supply chain management?

Question 13 The website and order fulfillment are essential features of:

Question 14 The two types of decisions that are relevant to supply chain management are:

Question 15 Which of the following is a principle required for ethical behavior in purchasing? (I) loyalty to employer (II) justice to those you deal with (III) faith in your profession

Question 16 In theory of constraints scheduling, the synchronization of the sequence of operations is referred to as the:

Question 17 A work center can be a: (I) machine. (II) group of machines. (III) department. (IV) facility.

Question 18 The president of a consulting firm wants to minimize the total number of hours it will take to complete four projects for a new client. Accordingly, she has estimated the time it should take for each of her top consultants—Charlie, Betty, Johnny, and Rick—to complete any of the four projects, as follows: In how many different ways can she assign these consultants to these projects?

Question 19 Scheduled due dates are the result of:

Question 20 Which sequencing rule is designed specifically to minimize job tardiness?

Question 21 To provide satisfactory levels of customer service while keeping inventory costs within reasonable bounds, two fundamental decisions must be made about inventory: the timing and the size of orders.

Question 22 Returned goods are part of reverse logistics.

Question 23 Disintermediation refers to the phenomenon that the traditional retailer or service provider is reduced or eliminated in a supply chain.

Question 24 If optimal sequencing through three work centers is desired, Johnson's rule II is used rather than Johnson's rule.

Question 25 The assignment method is limited to a maximum of two jobs per resource.