What can be done to reduce annual holding costs

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Reference no: EM13764694

1- There are businesses that hire employees who are called resource personnel. these employees are paid a higher wage than the regular full time employees. But have the understanding that they may be called off (laid off ) if there is not a demand for there work on a particular day. The regular fulltime employees receive a full week of work every week. From an aggregate planning standpoint on this strategy good or bad? Defend your answer.

2- for what reasons do facility location decision differ for service facilities and .......... . Give and briefly explain three specific reasons.

3- Why have the ideas of supply chain management and sourcing become so important recently? Particularly with regard to supply chain sustainability?

4- Many JIT and lean production activates promote the idea of ....... achieve zero inventories?

Multiple choice

1) Which of the following circumstances would provide an incentive for employing a .......... Chase) aggregate plan?

a. The product is perishable.

b. Warehouse space for finished goods is limited.

c. Inventory carrying costs are very high.

d. The production process requires highly trained labor.

e. The production process requires employees that need little or no training.

2) Yield management is least effective under which of the following circumstances?

a. Demand can be segmented by customer.

b. The product can be sold in advance.

c. Fixed costs are high and variable costs are low.

d. Demand is stable and close to capacity.

3) Which aggregate planning strategy typically results in greater inventory costs?

a. Level strategy.

b. Chase strategy.

c. Outsourcing strategy.

d. Subcontracting strategy.

4) When using a sample economic order quantity model. What can be done to reduce annual holding costs are $250,000 and annual ordering costs are 200,000?

a. Order more frequently.

b. Increase the safety stock level.

c. Order larger quantity.

d. Increase backlogs.

e. Order less frequently.

5) Group technology includes:

a. Grouping workers by job classification.

b. Grouping machines by product.

c. Grouping management functions.

d. Grouping raw material uses.

6) The focus of JIT is all of the following, except?

a. Minimizing the number of set-up.

b. Improving supplier relationships.

c. Respect for people.

d. Produce what is needed when it is needed.

7) Which of the following is not a reason to carry inventory?

a. To provide a safeguard for variation in raw material delivery time.

b. To take advantage of economic purchase order-size.

c. To maintain independence of operations.

d. To meet variation in product demand,

e. To keep the stock out of the hands of competitors.

8) In Hau Lee's uncertainty framework to classify supply ........ products with a stable supply ........ is called which of the following?

a. Efficient.

b. Forward looking.

c. Agile.

d. Risk hedging.

e. Responsive.

9) The six-step process for ................. which of the following?

a. Provide a press release to local ( ........ national) ...... .

b. Includes members of environmental groups in the decision.

c. Notify the state and federal ........of your ..... .

d. Perform an environmental impact ........ .

e. Develop the sourcing strategy.

10) An important issue in facility location analysis is business ....... Climate could be indicated be which of the following?

a. Similar-sized business ....... .

b. The willingness of local ......... .

c. The presence of other foreign ......... .

d. The local presence of ......... .

e. An established educational ........ .

Reference no: EM13764694

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