MULTIPLE CHOICE. Circle the letter of the best response. (a) The ‘memoryless’ pr

Question

MULTIPLE CHOICE. Circle the letter of the best response.

(a) The ‘memoryless’ property exists when arrivals & departures follow:

A.    a normal distribution

B.    a uniform distribution

C.    either A and B – depends on the problem

D. none of the above

(b) Stock policy is typically defined by:

A.            EOQ, ROP, Review Period

B.            EOQ, LTD, Review Period

C.    LTD, ROP, Review Period

D. EOQ, ROP, LTD

Note: EOQ (Economic Order Qty), ROP (Reorder Point), LTD (Lead Time Demand)

(c) Lead Time Demand (LTD) often contains variance(s) from:

        A.            Supplier Lead Time

        B.            Customer Demand

        C.            Both A and B

        D.            None of the above

Explanation / Answer

1. option a

2.option d

3.option c

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