“The inability to satisfy the demand for an item” is the definition of a
For the single-period inventory model, solving for the optimal order quantity involves using
Inventory position is computed using all the following except
Demand that is stable over time is called ____.
Demand that varies over time is called ____.
Average inventory in the EOQ model is defined as
Additional inventory kept over and above the average amount required to meet demand is called ____ inventory.
Costs associated with inspecting, unpacking and putting into storage incoming inventory are components of ____ cost.
Costs associated with backordering a product are called ____ costs.
Which of the following is not a key assumption underlining the classic economic order quantity (EOQ) model?
Inventory that represents partially completed products waiting further processing is called ____ inventory.
Which is not an advantage of the periodic review system?
Inventory that acts as a buffer between workstations in flow shops or departments in job shops is called ____ inventory.
Setting order sizes and schedules for individual subassemblies and resources by week or day fits best with which level of the generic framework for resource planning?
Capacity requirements are computed by multiplying the number of units scheduled for production at a work center by
If forecast demand exceeds the total factory or supply capacity, managers might simply decide not to meet forecast demand. This decision would most likely be made at which planning level?
____ are the total demand for an item derived from all of its parents.
Which of the following is not an aggregate planning decision option?
Which lot sizing rule might base the order quantity on a standard-size container or pallet load?
The Lot-for-Lot (LFL) rule
Which lot sizing rule might use the EOQ calculation?
The words "product family," "budget allocation" and "long-term" fit best with which level of the generic framework for resource planning?
The primary output of an MRP system is a time-phased report that gives all of the following except
Which lot sizing rule is best when inventory carrying costs are high and setup/order costs are low?
A(n) ____ is a statement of how many finished items are to be produced and when they are to be produced.
If a work center load report indicates insufficient capacity, options for correcting the problem include all of the following except
Promotion of weekly discount airfares by an airline would be an example of ____.
The purpose of aggregate planning is to