Question 1

One essential aspect of an inventory management system is the purchasing plan,which ensures that the items needed are in stock when they are needed.

Accepted Answer

A) True 
 B)False

Question 2

Reorder point means that you look at the inventory on hand,and when the stock level of an item appears to be low,you reorder.

Accepted Answer

A) True 
 B)False

Question 3

Lost sales and goodwill are potentially significant costs that may arise from ________.

Accepted Answer

A) Too little inventory 
B) Too much inventory 
C) Both A and B 
D) Giving too much 
E) Caring too much 
A) Too little inventory 
B) Too much inventory 
C) Both A and B 
D) Giving too much 
E) Caring too much

Question 4

If the lead time for garage doors is 2 weeks and you sell 100 doors per week and you always want at least 20 doors in stock,what is the Reorder Point?

Accepted Answer

A) 220 
B) 320 
C) 420 
D) 20 
E) 40 
A) 220 
B) 320 
C) 420 
D) 20 
E) 40

Question 5

Which of the following is given by the President of the United States?

Accepted Answer

A) Malcolm Baldrige National Quality Award 
B) ISO9000:2001 
C) Benchmarking Excellence Award 
D) Small Business of the Year 
E) Entrepreneurial Excellence Award 
A) Malcolm Baldrige National Quality Award 
B) ISO9000:2001 
C) Benchmarking Excellence Award 
D) Small Business of the Year 
E) Entrepreneurial Excellence Award

Question 6

Retail point-of-sales systems,restaurant menu order systems,and concert venue ticketing systems are all examples of ________.

Accepted Answer

A) Industry-specific technology 
B) Systems for large businesses 
C) Custom software applications 
D) Operational systems 
E) Point-of-sale applications 
A) Industry-specific technology 
B) Systems for large businesses 
C) Custom software applications 
D) Operational systems 
E) Point-of-sale applications

Question 7

________ are three of the eight quality management principles for organizational improvement.

Accepted Answer

A) Customer focus,continual improvement,and involvement of people 
B) Conflicted supplier relationships,process approach,and leadership 
C) Customer focus,leadership,and policy approach 
D) All of the above 
E) None of the above 
A) Customer focus,continual improvement,and involvement of people 
B) Conflicted supplier relationships,process approach,and leadership 
C) Customer focus,leadership,and policy approach 
D) All of the above 
E) None of the above

Question 8

ROP = (Average Demand per Unit of Lead Time × Lead Time)- Safety Stock.

Accepted Answer

A) True 
 B)False

Question 9

Quality is a degree of excellence and conformance to specifications or standards.

Accepted Answer

A) True 
 B)False

Question 10

Competitors can be a good source of information about suppliers because they ________.

Accepted Answer

A) Have proprietary pricing 
B) Buy from them 
C) Know the representatives 
D) All of the above 
E) None of the above 
A) Have proprietary pricing 
B) Buy from them 
C) Know the representatives 
D) All of the above 
E) None of the above

One essential aspect of an inventory management system is the purchasing plan,which ensures that the items needed are in stock when they are needed.

Reorder point means that you look at the inventory on hand,and when the stock level of an item appears to be low,you reorder.

Lost sales and goodwill are potentially significant costs that may arise from ________.

If the lead time for garage doors is 2 weeks and you sell 100 doors per week and you always want at least 20 doors in stock,what is the Reorder Point?

Which of the following is given by the President of the United States?

Retail point-of-sales systems,restaurant menu order systems,and concert venue ticketing systems are all examples of ________.

________ are three of the eight quality management principles for organizational improvement.

ROP = (Average Demand per Unit of Lead Time × Lead Time)- Safety Stock.

Quality is a degree of excellence and conformance to specifications or standards.

Competitors can be a good source of information about suppliers because they ________.

Entrepreneurs Recognize Opportunities

Franchising

Finding Opportunity in an Existing Business

The Business Plan: Road Map to Success

Creating Business From Opportunity

Exploring Your Market

Developing the Right Marketing Mix and Plan

Pricing and Credit Strategies

Integrated Marketing Communications

Marketing Globally

Smart Selling and Effective Customer Service

Understanding and Managing Start-Up, fixed, and Variable Costs

Using Financial Statements to Guide a Business

Cash Flow and Taxes

Financing Strategy: Debt, equity, or Both

Addressing Legal Issues and Managing Risk

Location, facilities, and Layout

Human Resources and Management

Leadership and Ethical Practices

Franchising, licensing, and Harvesting: Cashing in Your Brand

Filters

Exam 17: Operating for Success

One essential aspect of an inventory management system is the purchasing plan,which ensures that the items needed are in stock when they are needed.

Reorder point means that you look at the inventory on hand,and when the stock level of an item appears to be low,you reorder.

Lost sales and goodwill are potentially significant costs that may arise from ________.

If the lead time for garage doors is 2 weeks and you sell 100 doors per week and you always want at least 20 doors in stock,what is the Reorder Point?

Which of the following is given by the President of the United States?

Retail point-of-sales systems,restaurant menu order systems,and concert venue ticketing systems are all examples of ________.

________ are three of the eight quality management principles for organizational improvement.

ROP = (Average Demand per Unit of Lead Time × Lead Time)- Safety Stock.

Quality is a degree of excellence and conformance to specifications or standards.

Competitors can be a good source of information about suppliers because they ________.

Entrepreneurs Recognize Opportunities

Franchising

Finding Opportunity in an Existing Business

The Business Plan: Road Map to Success

Creating Business From Opportunity

Exploring Your Market

Developing the Right Marketing Mix and Plan

Pricing and Credit Strategies

Integrated Marketing Communications

Marketing Globally

Smart Selling and Effective Customer Service

Understanding and Managing Start-Up, fixed, and Variable Costs

Using Financial Statements to Guide a Business

Cash Flow and Taxes

Financing Strategy: Debt, equity, or Both

Addressing Legal Issues and Managing Risk

Location, facilities, and Layout

Human Resources and Management

Leadership and Ethical Practices

Franchising, licensing, and Harvesting: Cashing in Your Brand

Filters