11. In the periodic inventory system, the time between orders is a variable and

Question

11. In the periodic inventory system, the time between orders is a variable and the order size is (a) True (b) False 12. Component parts or materials used in the production process to produce a final product are referred to as dependent demand items (a) True (b) False 13. The level of inventory should not be too low or too high. Inventory management is the process by which we determine the correct level of that inventory (a) True (b) False 14. The shortest operations time (SOT) rule for scheduling will always produce the lowest or one of the lowest average fhow times for all the jobs sequenced.. 15. Cars, retail items, grocery products, and office supplies are examples of (c) seasonal demand items (d) eyclical demand items (e) none of the above 16. Economies of scale refer to the concept that as the volume of production increases, the per (a) True b) False (a) dependent demand items (b) independent demand items unit cost of production will go up. (a) True (b) False 17. Meeting demand fluctuations entirely by hiring and firing workers to matich demand is an example of (a) a level production strategy (b) a mixed production strateg (c) a chase demand strategy (d) an optimal production strategy (e) none of the above 18Lot size a. determines the quantities in which items are to be made or purchased b involves physically counting at least some inventory iterns daily and reconciling differences e, subtracts on-hand quantities and schoduled receipts from gross requirements subtracts an item's lead time from its due date to determine order date. None of the above. d. 19, “hen you use the EOQ method of inventory Management, the cost or placing orders and cost of carrying inventory, on an anmual basis, will be the same (b) False (a) True demand is to shift it into other time periods using incentives One sales promotions, and advertising (b) False (a) True

Explanation / Answer

11. The correct answer is false.

Periodic review system also called fixed interval reorder system has four original economic order quantity assumptions: -

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