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Which category of inventory in “ABC Analysis” makes up the majority of SKUs with cumulatively low value?
Which of these part classification groups has the lowest, most erratic demand / use?
BOM stands for_______
What does the “R” in MRP stands for?
The functions of typical MRP systems include….. Select 3
For a given demand rate, making fewer, larger orders will result in holding ______ inventory levels.
The two primary decisions when purchasing inventory are “how much to order” and “_____ to order it”
What does EOQ stand for?
The EOQ formula aims to find the order quantity that minimises _______
True or False: Simple EOQ does not account for any price discounts based on quantity.
Which of these is NOT a variable in the EOQ formula?
Larger production batch sizes causes higher WIP levels, lower changeover frequency and ……. Select 2 more
What does EBQ stand for?
True or False: One limitation of EOQ is that it takes no consideration of re-ordering lead times.
The “Price Break Model” is a more sophisticated extension of the EOQ because it considers_____
If you completely fill up your car with fuel to “full” every Monday, what type of “re order system” are you effectively using?
What does the P of ROP stand for?
A “continuous review” method to monitor inventory levels usually requires ____ & ____ . Select 2
A periodic review system is better suited to ____ & ____ types of parts / inventory. Select 2
“Pull” is a production / order control principle where the signal to make / order more comes from _____ .
A passive inventory control option requires ____ manual decision making compared to an active system.
Which of these are examples of passive inventory control systems? Select 2
_______ offers protection against supply and demand variation.
A simple calculation for safety stock is: SS = _____ Demand during a _____ Replenishment Time – Typ. Demand during Typ. Replenishment Time
If a data set has a higher “standard deviation”, then it has _____ variability.
A very useful excel formula in calculating safety stock using statistics is ______.
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