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Principles of logistics management
week 3
MGT 322 Week 3 Quiz

MGT 322 Week 3 Quiz

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1 The true value of CPFR comes from the sophisticated forecasting algorithms that provide companies with highly accurate forecasts, not from the exchange of forecasting information. 2 If an item is ordered at its economic order quantity, the annual carrying cost should be: 3 Which one of the following statements regarding the economic order quantity is true? 4 According to textbook, the top three challenges for CPFR implementation include all of the following except: 5 Lean production and Six Sigma quality are essentially two terms that mean the same thing. 6 What inventory factor may be omitted from the basic EOQ derivation because it is a constant? 7 The total annual inventory cost is the sum of the annual purchase cost, the annual holding cost, the annual capacity cost, and the annual ordering cost. 8 The three basic production strategies for addressing the aggregate planning problem are the capacity production strategy, the level production strategy, and the chase production strategy. 9 MRP is the production planning system intended to develop long-range plans (more than a year away) concerning product families manufactured by the organization. 10 Which of the following could be considered a master production schedule for a service firm?

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