Firms keep supplies of inventory for which of the following reasons? To provide a feeling of security for the workforce To maintain dependence of operations To meet variation in product demand Which of the following are characteristics of qualitative forecasting methods? |- It is a function of past data || – Non-numerical data III – Useful when past data is available IV – Based on a broad range of knowledge, personal judgment, and intuition OI and III O Il and IV O1, II, and III O II, III, and IV

2. Supply Chain Management can be described as the synchronisation of a firm's processes with its' suppliers A B True False

Some IT Systems indicate where the material should be placed in marked spaces on a table or floors. Subject to empty space, supplying operations are reported to generate more. What are the names of these spaces?

This refers to the task done or performed to add value to the company. work overtime energy inventory

Lumber at Home Depot (e.g., standard 2x4's) would most likely have which type of supply chain design? Group of answer choices   a Functional b Responsive c Efficient d Innovative

Work-in-process inventory is devoted to maintenance, repair, and operating materials. A True B False

Purchasing is categorized as a supporting process in managing operations of any organization > true or false?

It is common to think of a Supply chain as three flows between customer and supplier. Which of the following flows is NOT one of them? A. Money B. Material C. Vehicle D. Information

In each case given below, explain why the warehouse action described is probably unwise.  Storing cases in a gravity flow rack that is 0.5 meter deep Picking fast-moving product from static shelving

The Northridge Company tends to keep the inventory low. At the same time, it is important to respond to demand quickly, since a customer who wants a product K is very likely to get one from a competitor if Northridge Company doesn’t have one available immediately. Northridge Company’s current policy to produce the product K is to produce 100 per week, which is the average demand. Even this is a problem, as the production manager has pointed out, since the equipment is also used for other products and the lot size of 300 would be much more efficient. He said he is currently set up the production for product K for the next week and states that he has capacity available to produce 300 at a time next week.   The following lists the forecasts and actual customer orders for the next 12 weeks.   Week 1 2 3 4 5 6 7 8 9 10 11 12 Forecast 90 120 110 80 85 95 100 110 90 90 100 110 Customer Orders 105 97 93 72 98 72 53 21…