Question 1 In a net change MRP system requirements and schedules are considered

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Question 1 In a net change MRP system requirements and schedules are considered rigid and never updated. True False . 10 points Question 2 The customer grace period is a time-span having some specified level of opportunity for the customer to make changes. True False . 10 points Question 3 An output of MRP is a bill of materials (BOM) file. True False . 10 points Question 4 When implemented correctly, MRP links all areas of the business. True False . 10 points Question 5 The economic order quantity (EOQ) lot sizing technique uses the "square root formula" to balance set-up cost and carrying cost. True False . 10 points Question 6 Low level coding in MRP indicates the exact status of each item managed by the system in "real time." True False . 10 points Question 7 Which of the following is considered a secondary report in an MRP system? A. Planned order schedule B. Exceptions reports C. Inventory record D. Firm orders from known customers E. Engineering change reports . 10 points Question 8 Which of the following is a dynamic lot-sizing technique that calculates the order quantity by comparing the carrying cost and the setup (or ordering) costs for various lot sizes and then selects the lot in which these are most nearly equal? A. Economic Order Quantity B. Lot for lot C. Least total cost D. Least unit cost E. ABC analysis . 10 points Question 9 Which of the following is considered a primary report in an MRP system? A. Planned order schedule B. Peg report C. Planning report D. Inventory accuracy report E. Aggregate production plan report . 10 points Question 10 In an MRP program, the program accesses the status segment of an inventory record according to specific periods called which of the following? A. Cubed time units B. Time buckets C. BOM units D. Time modules E. Time lines

Explanation / Answer

1: True

2: False: The grace period is the amount of time you give your customers to pay without incurring late fees or interest.

3:True

4: False: Links only the direct reatil areas

5: True

6: True

7:exception reports, which call managers' attention to major problems like late orders or excessive scrap rates.

8:Economic Order Quantity EOQ:is a dynamic lot-sizing technique that calculates the order quantity by comparing the carrying cost and the setup

9: planned order schedules, which outline the quantity and timing of future material orders;

10: BOM unit or bill of materials

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