Section 1. True/False and Multiple Choice (34 points) True / False Questions For

Question

Section 1. True/False and Multiple Choice (34 points) True / False Questions For true/ false questions, please fill in A for True or B for False for each question on your Scantron 1. True Cyber Monday is more important than Black Friday for retailers because over 50% ofannual retail sales occur on Cyber Monday. False An earthquake this semester caused major damage to supply chains. False 2. True 3. True 4. True Revenue management is only used in the travel industry (i.e., False alse False hotels, rental cars, airlines). Smithfield produces beef products and was the first in their industry to achieve ISO 14001 environmental certification. The primary difference between FOB origination and FOB destination is that FOB destination requires that the supplier legally owns the product until it reaches the destination; in FOB origination the buyer takes ownership immediately and is thus responsible for arranging delivery 5. True If a firm turns over inventory four times per year, it would have 3 months' worth of inventory on hand. False 6. True 7. True 8. True False A fast-food retailer that acquired a spice manufacturer would be practicing backward integration. The reorder point increases as the service level falls. False 9. True False At the crossover point, total profits equal zero. Multiple Choice Questions Choose the hest answer and fill in the appropriate letter bubble for each question on your Scantron. 10. The newsvendor (single period) model a. is a generalization of the economic order quantity model b. is relevant when demand is deterministic c. captures the trade-off between the cost of ordering too much and the cost of ordering too little d. can only be used for normally distributed demand e. Both c and d I1. Which of these is NOT a disadvantage of outsourcing? a. b. decreased logistics and inventory costs risks may not manifest themselves for years

Explanation / Answer

1. A. because most of the sales usually happened on monday.

2. B. there is no relation between earthquake and semester

3. B. revenue management is used in all kinds of industries and sectors, but most of the times hotels used it

4. B

5. A

6. B, it will be an assumption only, but in reality it may or may not true

7. A, bacause he is preparing to produce the inputs for the main business, it comes under backward integration

8. A. it increases when the demand increases and the service level increases

9. B

10. option A is correct

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