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OM 300 Final Exam Newest 2025 With Complete 250 Questions And Correct Detailed Answers (Verified Answers) |Already Graded A+||Newest Version!!
Which of the following is not an assumption of the economic order quantity model shown below?Q= square root of 2⋅D⋅S/H - ANSWER-Production and use can occur simultaneously.
The primary purpose of the basic economic order quantity model shown below is Q=square root of 2⋅D⋅S/H - ANSWER-to minimize the sum of setup cost and holding cost
If the actual order quantity is the economic order quantity in a problem that meets the assumptions of the economic order quantity model shown below, the average amount of inventory on hand Q= square root of 2⋅D⋅S/H - ANSWER-is one-half of the economic order quantity
A certain type of computer costs $1,000, and the annual holding cost is 25%. Annual demand is 10,000 units, and the order cost is $150 per 1 / 4
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order. What is the approximate economic order quantity? - ANSWER- 110
Most inventory models attempt to minimize - ANSWER-total inventory based costs
In the basic EOQ model, if the cost of placing an order doubles, and all other values remain constant, the EOQ will - ANSWER-increase by about 41%
In the basic EOQ model, if D=6000 per year, S=$100, H=$5 per unit per month, the economic order quantity is approximately - ANSWER-141
Which of the following statements about the basic EOQ model is true? - ANSWER-All of the above statements are true.
Which of the following statements about the basic EOQ model is false? - ANSWER-If annual demand were to double, the EOQ would also double.
A product whose EOQ is 40 experiences a decrease in ordering cost from $90 per order to $10. The revised EOQ is - ANSWER-one-third as large
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A product whose EOQ is 400 experiences a 50% increase in demand.The new EOQ is - ANSWER-increased by less than 50%
For a certain item, the cost-minimizing order quantity obtained with the basic EOQ model was 200 units and the total annual inventory (carrying and setup) cost was $600. The inventory carrying cost per unit per year for this item is - ANSWER-$3
A product has demand of 4000 units per year. Ordering cost is $20 and holding cost is $4 per unit per year. The EOQ model is appropriate. The cost-minimizing solution for this product will cost _____ per year in total annual inventory costs. - ANSWER-$800
A product has demand of 4000 units per year. Ordering cost is $20 and holding cost is $4 per unit per year. The cost-minimizing solution for this product is to order - ANSWER-200 units per order
Which of the following statements regarding the reorder point is true? - ANSWER-All of the above are true.
The EOQ model with quantity discounts attempts to determine - ANSWER-how many units should be ordered
An inventory decision rule states "when the inventory level goes down to 14 gearboxes, 100 gearboxes will be ordered." Which of the following 3 / 4
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statements is true? - ANSWER-Fourteen is the reorder point, and 100 is the order quantity.
Which of the following statements regarding the production order quantity model is true? - ANSWER-It relaxes the assumption that all the order quantity is received at one time
Which of these statements about the production order quantity model is false? - ANSWER-All else equal, the smaller the ratio of demand rate to production rate, the larger is the production order quantity.
The assumptions of the production order quantity model are met in a situation where annual demand is 3650 units, setup cost is $50, holding cost is $12 per unit per year, the daily demand rate is 10 and the daily production rate is 100. The production order quantity for this problem is approximately - ANSWER-184
A production order quantity problem has daily demand rate = 10 and daily production rate = 50. The production order quantity for this problem is approximately 612 units. The average inventory for this problem is approximately - ANSWER-245
Which category of inventory holding costs is much higher than average for rapid-change industries such as PCs and cell phones? - ANSWER- minimizes the sum of holding, ordering, and product costs
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