A Model Of Inventory Management That Identifies The Optimum Number?


Economic order quantity model is a model of inventory management that identifies the optimum number of items to manage to minimize the costs associated with managing them.

Table of contents

Which Of The Following Is A Popular Method Of Scheduling Materials That Identifies All The Major Activities Or Events Required To Complete A Project?

A popular method is the Program Evaluation and Review Technique (PERT), which identifies all the major activities or events that are needed to complete a project, arranges them in a sequence or path, determines the critical path, and estimates the time it will take to complete the project.

What Is The Primary Reason For Using Standardization?

Standardization is a way of ensuring that certain practices within an industry are uniform. A standard is defined by the way products are created, the way businesses operate, the technology used, and the way specific compulsory processes are implemented.

Who Is Involved In Chapter 8 Planning?

What are the people involved in planning ts involved in planning products? Research, engineering, and operations management are some of the functions that are performed when planning products. A larger corporation may have separate departments for these functions; however, in smaller companies, one or two individuals may be responsible for all planning functions in the organization.

When Layout Is Organized Into Departments That Group Related Processes Is Called?

Production takes place at a central location. A process layout is used to organize the process. The processes that make up these departments are grouped together. Manufacturing organization that continuously produces. Assembly lines are often used.

Which Inventory Management Technique Utilizes A Master Production Schedule A Bill Of Materials And An Inventory Status File?

PROCESSING Using information from the bill of materials, master schedule, and inventory records, an MRP system determines the net requirements for raw materials, component parts, and subassemblies for each period of planning.

Which Of The Following Is True About Control Over Variability Of Resources Between Manufacturers And Service Organizations Multiple Choice Question?

The following statement is true regarding the control over variability of resources between manufacturers and service organizations. A manufacturer is typically more in charge of managing variability of resources than a service provider is.

What Is A Popular Method Of Scheduling Materials That Identifies All The Major Activities Or Events Required To Complete A Project?

In this chapter, we will discuss the critical path method. CPM, or critical path scheduling, is the most widely used scheduling technique. calculates the minimum completion time for a project, as well as the possible start and finish times for the project.

How Does A Pert Chart Help Operations Managers Determine The Most Efficient Sequence Of Manufacturing Steps To Make Products?

A PERT chart is used to describe the activities required to produce a good, specify the time it takes to complete each activity, and organize them in the most efficient manner. In a PERT chart, there is a critical path, which is the sequence of activities that will take the longest amount of time to complete.

Which Of The Following Is A Primary Function Of An Organizational Chart?

An organizational chart displays the organization’s structure visually. To grow efficiently, formal structures must be developed.

What Is Making Products To Meet A Particular Customers Needs Or Wants?

A product is designed to meet a specific customer’s needs. In supply chain management, raw materials and component parts are obtained and managed, finished products are packaged, and customers are contacted.

When Compared To Service Providers The Products Of Manufacturers Are Typically?

Manufacturers typically produce products that are more standardized than service providers.

What Takes Place In The Transformation Process?

A transformation process involves changes in the physical characteristics of materials or customers as a result of changing their physical characteristics. Materials, information, or customers are moved. Materials or information may be changed in ownership.

Which Term Describes The Management Of Activities From All Organizations Involved In The Production Process?

Operations management is a management discipline that involves all the activities involved in converting or transforming resources into goods and services.

Which Term Refers To A Company Deciding Where To Establish Its Operations?

Planning for operations. What is the term for a company that decides where to establish its operations? The facility is located at the location you want. The two most important tasks for a company before it makes any product are: design the product to satisfy its customers’ needs.

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