solution

Which of the following is not an assumption of the basic Economic Order Quantity (EOQ) model?

a) Annual demand is constant and known.

B) Batch sizes do not affect setup cost.

C) Quantity discounts are available.

In the context of operations management, IPO stands for:

a) Input Process Output

b) Initial Public Offering

C) Illustrative Purpose Only

Mass Customization suggests:

Producing whatever the customer wants

Making and stocking a standard type of product using job shop production

Producing a standard type of product using mass production

Which of the following statements about Little’s Law is correct?

a) Little’s Law can be applied to both manufacturing and service operations.

b) Little’s Law relates the average number of things in the system to average throughput time and average flow rate.

C) Little’s Law applies when the average arrival rate is equal to the average departure rate.

d) All the other three statements.