Extra units that are held in inventory to reduce stockouts are called _________

4.Extra units in inventory to help reduce stockouts are called:a.reorder point.b.safety stock.c.just-in-time inventory.d.all of the above.Answer: b. safety stock

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One use of inventory is
ABC analysis divides an organization's on-hand inventory into three classes based upon
Cycle counting
The difference(s) between the basic EOQ model and the production order quantity model is (are) that
Extra units that are held in inventory to reduce stockouts are called
Inventory record accuracy would be decreased by
The two most important inventory-based questions answered by the typical inventory model are
The appropriate level of safety stock is typically determined by
Which of the following is NOT a type of inventory?
In the probabilistic model, increasing the service level will
A system that triggers ordering on a uniform time basis is called a
A company wishes to determine the EOQ for an item that has an annual demand of 2,000 units, a cost per order of $75, and annual carrying cost of $7.50 per unit. What is the EOQ?
A store wants to ensure a shelf full of marshmallow peeps as the holiday season approaches. Daily demand for peeps is normally distributed with a mean of 25 and a standard deviation of 5. Lead time is 3 days and the store intends a 98% service level. What is their reorder point?
Policies based on ABC analysis might include investing
A system that keeps track of each withdrawal or addition to inventory continuously is
What is the extra units held in inventory to reduce stockouts are called?
Which of the following is an element of inventory holding costs?
What are the two most basic inventory questions answered by the typical inventory model?
What is a stock out quizlet?

5.The difference(s) between the basic EOQ model and the production order quantity modelis(are) that:

6.The EOQ model with quantity discounts attempts to determine:

7.The appropriate level of safety stock is typically determined by:

This activity contains 17 questions.

One use of inventory is

ABC analysis divides an organization's on-hand inventory into three classes based upon

Cycle counting

The difference(s) between the basic EOQ model and the production order quantity model is (are) that

Extra units that are held in inventory to reduce stockouts are called

Inventory record accuracy would be decreased by

The two most important inventory-based questions answered by the typical inventory model are

The appropriate level of safety stock is typically determined by

Which of the following is NOT a type of inventory?

In the probabilistic model, increasing the service level will

A system that triggers ordering on a uniform time basis is called a

A company wishes to determine the EOQ for an item that has an annual demand of 2,000 units, a cost per order of $75, and annual carrying cost of $7.50 per unit. What is the EOQ?

A production facility is trying to determine the best batch size for an item that is produced intermittently. This item has an annual demand of 1,000 units, an annual carrying cost of $10 per unit, and a setup cost of $400. They operate 50 weeks per year, and can produce 40 units per week. What is the best batch size for this item?

A store wants to ensure a shelf full of marshmallow peeps as the holiday season approaches. Daily demand for peeps is normally distributed with a mean of 25 and a standard deviation of 5. Lead time is 3 days and the store intends a 98% service level. What is their reorder point?

A production facility is trying to expand production on a machine that is currently used to produce one part. This item has an annual demand of 1,000 units, an annual carrying cost of $10 per unit, and a setup cost of $400. They operate 50 weeks per year, and can produce 40 units per week. What percentage of the time are they using this machine?

Policies based on ABC analysis might include investing

A system that keeps track of each withdrawal or addition to inventory continuously is

Answer choices in this exercise appear in a different order each time the page is loaded.

What is the extra units held in inventory to reduce stockouts are called?

Extra units that are held in inventory to reduce stockouts are called. demand variance.

Which of the following is an element of inventory holding costs?

Typical components of inventory holding or carrying costs include housing costs, material handling costs, labor cost from extra handling, investment costs, pilferage, scrap, and obsolescence.

What are the two most basic inventory questions answered by the typical inventory model?

The two most basic inventory questions answered by the typical inventory model are: A) timing of orders and cost of orders.

What is a stock out quizlet?

Stockouts. A situation that occurs when there is no inventory on hand. Inventory. any stored resource that is used to satisfy a current or future need.

Extra units that are held in inventory to reduce stockouts are called __________.