61.Which of the following NOT a kind of cost associated : 1418673
61.Which of the following is NOT a kind of cost associated with maintaining an inventory?
62.Downtime and lost efficiency are both examples of ____.
63.Transaction costs and loss of customer goodwill are both examples of ____.
64.Companies relying on a trucking company providing just-in-time (JIT) transportation would _____?
a.expect the chemical and dry bulk products to be delivered as they are needed by the production line
b.cannot continue operations if a stockout occurs
c.have high inventory turnover rates
d.uses a master production schedule to control service recovery costs
e.spend more on holding costs than on any other form of inventory costs
65.A company that embroiders t-shirts, uses 15,000 plain t-shirts annually. The optimal order quantity is 500 shirts. The company embroiders approximately 150 shirts daily. Using the ____ calculations, the company knows it should place an order approximately every 3 days.
a.materials requirement planning
b.just-in-time inventory management
d.economic order quantity
66.Which of the following is NOT a well-known technique for managing inventory?
a.progressive inventory management (PIM)
b.just-in-time inventory (JIT)
c.materials requirement planning (MRP)
d.economic order quantity (EOQ)
67.Materials requirement planning (MRP) is ____.
a.a method for inventory mining
b.used with dependent demand systems
c.used with tickets that indicate when to reorder various inventory items
d.used with independent demand systems
e.not concerned with finished product inventories
68.The three key parts of material requirement planning (MRP) are ____.
a.aggregate inventory, suppliers’ invoices, and bills of laden
b.inventory records, trend analyses, and production schedules
c.the master production schedule, the bill of materials, and inventory records
d.suppliers’ invoices, distribution schedules, and inventory records
e.inventory turnovers, master production schedules, and storage space
69.____ is a ticket-based system that indicates when to reorder inventory.
a.An MRP system
b.A just-in-time system
d.An independent demand system
e.A dependent demand system
70.In inventory management situations involving independent demand systems, ____ should be used, whereas with dependent demand systems, ____ should be used.
a.JIT; MRP and/or EOQ
b.EOQ; JIT and/or MRP
c.MRP; JIT and/or EOQ
d.MRP; JIT or EOQ
e.EOQ; JIT or MBO