Practice questions 34. The conventional approach to inventory management is to m

Question

Practice questions 34. The conventional approach to inventory management is to maintain a level of inventory that reflects a compromise between inventory cost and customer service O True O False O True O False O True O False O True O False 35.The optimal order quantity in an EOQ model corresponds to the lowest point on the total cost curve. 36. One way to deal with the bullwhip effect is to develop and share the forecasts with other supply chain members. 37.Supply chain management requires 100 percent accurate torecasts ot product demand at all times.

Explanation / Answer

(34) The conventional approach to inventory management is to maintain a level of inventory that reflects a compromise between inventory cost and customer service.

- TRUE

(35) THE OPTIMAL ORDER QUANTITY IN AN EOQ MODEL CORRESPOND TO THE LOWEST POINT ON THE TOTAL COST CURVE

TRUE

(36) ONE WAY TO DEAL WITH THE BULLWHIP EFFECT IS TO DEVELOP AND SHARE THE FORECASTS WITH OTHER SUPPLY CHAIN MEMBERS.

TRUE

(37) SUPPLY CHAIN MANAGEMENT REQUIRES 100% ACCURATE FORECASTS OF PRODUCT DEMAND AT ALL TIMES.

FALSE

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