Reference no: EM133327028

Question 1. Acceptance Sampling

Why do we need Acceptance Sampling in quality management?

There are two risks in Acceptance Sampling: rejecting a batch/shipment of qualified products and accepting a batch/shipment of unqualified products. How can we mitigate or manage these two risks?

Question 2. Inventory Systems

Describe the definitions and importance of the "Fixed-Order Quantity System" and the "Fixed-Time Period System".

There are no perfect methods. Please answer the following questions based on your understanding of these two methods.

a) Please list two disadvantages of the "Fixed-Order Quantity System."

b) Please list two disadvantages of the "Fixed-Time Period System."

c) Please give the corresponding solutions to those disadvantages of "Fixed-Order Quantity System" and the "Fixed-Time Period System," respectively.

Question 3. The "Bullwhip Effect"

Use your own words to describe the definition and importance of the "Bullwhip Effect" in Supply Chain.

List at least two possible causes of the "Bullwhip Effect."

Give the corresponding solutions to avoid the "Bullwhip Effect" in practice.