WorksheetsMBA Chap 9.2
Total questions: 10
Worksheet time: 5mins
Which of the following is a trend factor contributing to the growth of Transportation Management Systems (TMS)?
Decrease in intermodal transport
Outdated transportation systems need to be upgraded or replaced
Reduction in vendor capabilities
Decrease in data usage
What does inbound logistics refer to?
Receiving
Shipping
Inventory control
Distribution
Applying the concept of safety stock, what would a company likely do if it frequently experiences unexpected demand?
Reduce its inventory levels
Increase its safety stock as a buffer
Stop ordering new inventory
Focus only on shipping costs
What is an example of a carrying cost in inventory systems?
Unloading/inspecting deliveries
Cost of production delays
Taxes, insurance, storage space
Bill paying
If a business wants to reduce the cost of production delays, which type of inventory cost should they focus on minimizing?
Ordering costs
Carrying costs
Stockout costs
Administrative costs
What is required for inventory in lean manufacturing systems?
Large, infrequent inventory deliveries
Quality, on-time inventory
Inventory stored for long periods
Inventory managed only by suppliers
Which of the following best describes the main function of a quality control system in an enterprise-wide total quality management (TQM) effort?
To provide data about the quality of incoming materials, in-process, and finished products
To increase the speed of production lines
To reduce the number of employees required
To design new products for the company
Data collected by sensors or RFID in a quality control system can be used to improve product quality in which of the following ways?
By allowing real-time interpretation and future analysis to identify and address quality issues
By increasing the number of advertisements for the product
By reducing the cost of raw materials
By eliminating the need for any human oversight
Which of the following are the three categories of inventory costs?
Ordering, holding, and shortage costs
Production, marketing, and sales costs
Labor, material, and overhead costs
Fixed, variable, and mixed costs
Which statement best explains the difference between EOQ and JIT inventory models?
EOQ focuses on optimizing order quantity, while JIT aims to reduce inventory by receiving goods only as needed
EOQ is used only in manufacturing, while JIT is used only in retail
EOQ increases inventory, while JIT eliminates suppliers
EOQ and JIT are identical inventory models
