Answer the following statement(s) true (T) or false (F)
1. In the periodic review model, the order quantity at each review period must be sufficient to cover demand for the review period plus the demand for the following lead time.
2. Periodic review systems require smaller safety stock levels than corresponding continuous review systems.
3. The cost of overestimating demand is usually harder to determine than the cost of underestimating demand.
4. The terms "inventory on hand" and "inventory position" have the same meaning.
5. The EOQ model is insensitive to small variations or errors in the cost estimates.
1. True
2. False
3. False
4. False
5. True
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The photo department of Santiago Company shows gross sales of $730,600 for chemical supplies and $934,900 for general office supplies. It has determined that chemical supplies cost $534,000 and that general office supplies cost $391,400 . What is the gross profit percentage for the general office supplies section of the photo department?
a. $543,500 b. 74.4% c. 72.0% d. 58.1%
According to the text, fieldwork is the ________ in the marketing research process
A) first step B) second step C) third step D) fourth step E) fifth step
The 1990 Americans with Disabilities Act (ADA) protects
a. people with poor or no ethics. b. Americans who are victims of sexual harassment. c. the rights of people with disabilities. d. employers who refuse to hire those with a disability.
The difference between backward scheduling and forward scheduling is which of the following?
A) Backward scheduling uses firm and planned orders; forward scheduling uses only planned orders. B) Backward scheduling uses standard times; forward scheduling uses actual lead times. C) Backward scheduling begins from the start date; forward scheduling begins with the due date. D) Backward scheduling begins from the due date; forward scheduling begins with the start date.