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Which one of the following statements is accurate? Assume that the demand during lead time has a Normal distribution.
A) The level of safety stock maintained decreases when the desired cycle-service level increases.
B) The level of safety stock maintained decreases when the standard deviation of demand during lead time increases.
C) When no safety stock is maintained in a continuous review system, stockouts will occur during leadtime with 50% probability after a replenishment order is placed.
D) The level of safety stock maintained is greater when lead time is smaller.
A process for addressing insurance claims has 100,000 claims waiting at different stages in the process. If the average demand on the system is 1,000 claims per day, then the average time that a claim takes, based on applying Little’s law, is:
0.5 days
20 days
0.05 days
100 days
A business approach in which the marketing department is publicizing a company’s ability to provide a large variety of products very quickly while the supply chain department is primarily focusing on the lowest cost providers of materials has a high likelihood of success.
True
False
If two different production processes have the same flow rate, they will always have the same amount of work-in-process inventory.
True
False
The participation level of a customer in a service experience has no impact on overall service quality.
Question 1 options:
| True | |
| False |
|
The role a customer can play in a service experience is fluid. That is, how productive a customer is will exist on a continuum. Question 2 options:
|
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Which of the following is a reason that a customer could “compete” with a service organization.
Question 3 options:
|
Expertise Capacity |
|
|
Time Capacity |
|
|
Resource Capacity |
|
|
All of the Above |
The role a customer can play in a service experience is fluid. That is, how productive a customer is will exist on a continuum.
Question 2 options:
| True | |
| False |
In a service experience, a customer can detract from AND enhance satisfaction.
Question 5 options:
| True | |
| False |
In County X, the number of small and big retail shops is increasing day by day.
Authorities of these retail shops are used to run their business in traditional ways using
little or more experience of inventory control systems. With today’s uncertain economy,
companies are searching for alternative methods to keep ahead of their
competitors by effectively driving sales and reducing unnecessary cost. Big retail
companies do not stand a chance in today’s environment if they do not have an
appropriate inventory control and management plan intact. It is not only important for
retail stores to manage inventories, but it also carries prominent importance for other
companies. In fact, inventories pervade the business world. Maintaining inventories at
right quantities is necessary for any company dealing with physical products, including
manufacturers, wholesalers, and retailers. For the retail shops in Country X, two
inventory related problems, stock-out and overstock occur frequently. As a result, the
shops fail to maintain their product availability with the lowest possible inventory cost.
Lack of product availability severely affects the level of customer satisfaction which is
the main driving force of any business. To overcome these problems, proper inventory
control techniques are necessary.
Select a product based on your interest. With your understanding of inventory control,
how can retail shops address their stock-out and overstock to maintain ideal inventory?
Note : Its the question of supply chain management
please provide long answer asap
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