BUSI 411 Exam 4 Liberty University with Answer GradeAplus

• Question 1 3 out of 3 points The manager of the Quick Stop Corner Convenience Store (which never closes) sells four cases of Stein beer each day. Order costs are $8.00 per order, and Stein beer costs $.80 per six ...

• Question 1 3 out of 3 points The manager of the Quick Stop Corner Convenience Store (which never closes) sells four cases of Stein beer each day. Order costs are $8.00 per order, and Stein beer costs $.80 per six-pack (each case of Stein beer contains four six-packs). Orders arrive three days from the time they are placed. Daily holding costs are equal to 5 percent of the cost of the beer. At what point should he reorder Stein beer? • Question 2 3 out of 3 points Ann Chovies, owner of the Perfect Pasta Pizza Parlor, uses 20 pounds of pepperoni each day in preparing pizzas. Order costs for pepperoni are $10.00 per order, and carrying costs are 4 cents per pound per day. Lead time for each order is three days, and the pepperoni itself costs $3.00 per pound. What is the economic order quantity for pepperoni? • Question 3 3 out of 3 points If no variations in demand or lead time exist, the ROP will equal: • Question 4 3 out of 3 points The materials manager for a billiard ball maker must periodically place orders for resin, one of the raw materials used in producing billiard balls. She knows that manufacturing uses resin at a rate of 50 kilograms each day, and that it costs $.04 per day to carry a kilogram of resin in inventory. She also knows that the order costs for resin are $100 per order, and that the lead time for delivery is four days. If order size was 1,000 kilograms of resin, what would be the length of an order cycle? • Question 5 3 out of 3 points A stock or store of goods is called a(n): • Question 6 0 out of 3 points A potential obstacle to conversion to a lean system is: 1. 2. (I) lack of management commitment 3. (II) lack of worker cooperation 4. (III) supplier resistance 5. (IV) insufficient space to store the increased inventories • Question 7 3 out of 3 points A production kanban card is used to signal that: • Question 8 3 out of 3 points Process design that supports lean does not include: • Question 9 3 out of 3 points A lean-systems method of asking questions about a process is the __________ approach. • Question 10 3 out of 3 points Which of the following does not contribute to reduced setup time and cost? • Question 11 3 out of 3 points _________ has/have helped firms to concentrate on their core business. • Question 12 3 out of 3 points Which of the following is not a measure of the reliability of the supply chain? • Question 13 3 out of 3 points After outsourcing to global suppliers, __________ is not simple. • Question 14 3 out of 3 points One of the biggest ethical risks in supply chain management is that the __________ supply chain member tends to be the one that suffers the blame and/or lost goodwill when something goes wrong. • Question 15 3 out of 3 points The website and order fulfillment are essential features of: • Question 16 0 out of 3 points The president of a consulting firm wants to minimize the total number of hours it will take to complete four projects for a new client. Accordingly, she has estimated the time it should take for each of her top consultants—Charlie, Betty, Johnny, and Rick—to complete any of the four projects, as follows: Project (Hours) Consultant A B C D Charlie 13 16 11 13 Betty 11 15 14 18 Johnny 15 22 12 15 Rick 17 17 12 22 ________________________________________ Assume there must be one-to-one matching between consultants and projects. What is the optimal assignment of consultants to projects? • Question 17 3 out of 3 points There are four resources and four jobs to be done. Assume there must be one-to-one matching between jobs and resources. The time required for each resource to do each job is as follows: Job (Hours) Resource A B C D 1 5 8 7 7 2 4 9 5 9 3 6 9 8 7 4 7 6 6 9 ________________________________________ After the row reduction, what is the resulting entry in the new table for assigning resource 4 to Job D? • Question 18 3 out of 3 points The owner/operator of the local franchise of Handyman, Inc., has four jobs to do today, shown in the order they were received: Job Processing Time (hrs) Due (hrs from now) W 4 4 X 3 5 Y 2 2 Z 1 1 ________________________________________ If he uses the first come, first served priority rule to schedule these jobs, what will be the average completion time? • Question 19 3 out of 3 points Scheduling pertains to: • Question 20 3 out of 3 points The two different approaches to load work centers in job-shop scheduling are: • Question 21 3 out of 3 points The fixed-order-interval model requires a continuous monitoring of inventory levels. • Question 22 3 out of 3 points Gatekeeping contracts with 3PLs to minimize the cost of shipping returned goods. • Question 23 3 out of 3 points Some firms have structured their procurement function to include both centralized and decentralized purchasing. • Question 24 3 out of 3 points Makespan is the total time needed to complete a group of jobs. • Question 25 3 out of 3 points Input/output (I/O) control refers to monitoring the productivity changes since productivity is determined by the ratio of output to input.