GSCM 530 DeVry Week 7 Quiz Latest
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<strong>GSCM</strong> <strong>530</strong> <strong>DeVry</strong> <strong>Week</strong> 7 <strong>Quiz</strong> <strong>Latest</strong><br />
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<strong>GSCM</strong> <strong>530</strong> <strong>DeVry</strong> <strong>Week</strong> 7 <strong>Quiz</strong> <strong>Latest</strong><br />
<strong>GSCM</strong><strong>530</strong><br />
<strong>GSCM</strong> <strong>530</strong> <strong>DeVry</strong> <strong>Week</strong> 7 <strong>Quiz</strong> <strong>Latest</strong><br />
<strong>GSCM</strong> <strong>530</strong> <strong>DeVry</strong> <strong>Week</strong> 7 <strong>Quiz</strong> <strong>Latest</strong><br />
Question 1.1.(TCO 8) Which of the following is not a role of inventory?(Points : 5)<br />
o<br />
o<br />
o<br />
o<br />
Increasing quality of finished goods<br />
Balancing supply and demand<br />
Buffering uncertainty in supply or demand<br />
Enabling geographical specialization<br />
Question 2.2.(TCO 8) Suppose demand is 45 units a month, average inventory is 60 units, and unit cost is $20.<br />
What is the annual inventory turnover?(Points : 5)<br />
o 10<br />
o 9<br />
o 0.75<br />
o 15<br />
Question 3.3.(TCO 8) If beginning inventory is $1,000,000, ending inventory is $1,400,000, sales are $10,000,000,<br />
and anticipated sales are $50,000 per day, what is the number of days of supply?(Points : 5)<br />
o<br />
o<br />
o<br />
o<br />
28 days<br />
70 days<br />
60 days<br />
32 days<br />
Question 4.4.(TCO 8) Jones Manufacturing Inc. purchases a component from a Chilean supplier. The demand for<br />
that component is exactly 70 units each day. The company is open for business 250 days each year. When the company<br />
reorders the product, the lead time from the supplier is exactly 10 days. The product costs $14.00. The company<br />
determined that its inventory carrying cost is 20%. The company's order cost is $30.00. If the company decides to order<br />
1,750 units each time it places an order, what will be the total annual cost of this policy? (Do not include the product<br />
cost in your answer.)(Points : 5)<br />
o $1,500<br />
o $2,400<br />
o $2,750<br />
o $3,400
Question 5.5.(TCO 8) Jones Company has calculated that the EOQ for a particular item is 1,000 units. However,<br />
Jones does not have enough capital to order that many units each time, so it only orders 250 units at a time. This will<br />
result in(Points : 5)<br />
o<br />
o<br />
o<br />
o<br />
higher annual inventory carrying cost than ordering the EOQ quantity.<br />
lower annual inventory carrying cost than ordering the EOQ quantity.<br />
lower annual ordering cost than ordering the EOQ quantity.<br />
This cannot be determined.<br />
Question 6.6.(TCO 8) A company has average demand of 30 units per day. Lead time from the supplier averages<br />
7 days. Assume that the combined standard deviation of demand during lead time has been calculated and is equal to<br />
20 units. One unit costs $10 and the inventory carrying cost is 25%.<br />
What is the reorder point for the company if it decides on a 99% service level?(Points : 5)<br />
o<br />
o<br />
o<br />
o<br />
243 units<br />
257 units<br />
77 units<br />
210 units