Quiz 5 Results for Mylee Perez Score for this quiz: 95 out of 100 Submitted Jul 19 at 11:44am This attempt took 24 minutes. 5 / 5 pts Question 1 CraftWare Inc., a furniture manufacturer, uses ...

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Quiz 5 Results for Mylee Perez
Score for this quiz: 95 out of 100
Submitted Jul 19 at 11:44am
This attempt took 24 minutes.

5 / 5 pts Question 1
CraftWare Inc., a furniture manufacturer, uses ABC analysis to
define its inventory value. The inventory contains wood, cast iron,
adhesive, and carbon fiber. If wood accounts for 50 percent of the
items and 5 percent of the total dollar value; carbon fiber accounts
for 10 percent of the items and 60 percent of the total dollar value;
cast iron accounts for 25 percent of the items and 18 percent of
the total dollar value; and adhesive accounts for 15 percent of the
items and 17 percent of the total dollar value, _____ can be
classified as a class C item.
wood Correct!Correct!

5 / 5 pts Question 2
Which of the following statements is true of backorders?
7/23/22, 1 :46 PM Page 1 of 13 cast iron carbon fiber adhesive

They result in additional costs. Correct!Correct!

5 / 5 pts Question 3
Using the data regarding the inventory management of a stock-
keeping unit shown in the following table, it can be concluded that
the optimal replenishment level without any safety stock for a
fixed-period system (FPS) under the model assumptions is:
Demand 100 units per week
Order Cost $30 per order
Inventory-Holding Cost $0.6 per unit per year
Lead Time 2 weeks
Economic Time Interval 5 weeks
more than 600 but less than or equal to 800 units. Correct!Correct!
7/23/22, 1 :46 PM Page 2 of 13 They force a customer to purchase elsewhere. They occur as a result of excessive stock.
They occur when a customer is unwilling to wait for an ordered
item. more than 400 but less than or equal to 600 units. more than 200 but less than or equal to 400 units.

0 / 5 pts Question 4
Jae’s Shoes is considering a change of their current inventory
control system for sneakers. The information regarding the
neckties is: Demand = 1000 pairs/week; Lead time = 3 weeks;
Order cost = $20/order; Holding cost = $10.00/pair/yr; Cycle
service level = 95%; Standard deviation of weekly demand = 48;
and Number of weeks per year = 52. To calculate the relative
frequency use the following values: _____.
Units Sold and Number of Days Correct AnswerCorrect Answer
Units Sold and Demand Yo u A n s w e r e dYo u A n s w e r e d

5 / 5 pts Question 5
Stable demand is usually called _____ demand.
7/23/22, 1 :46 PM Page 3 of 13 more than 100 but less than or equal to 200 units. Number of Days and Standard Deviation of Weekly Demand Lead Time and Holding Cost overfull

static Correct!Correct!

5 / 5 pts Question 6
In the context of inventory management, a(n) _____ is a single
item or asset stored at a particular location.
stock-keeping unit Correct!Correct!

5 / 5 pts Question 7
_____ inventory is inventory that results from purchasing or
producing in larger lots than are needed for immediate
consumption or sale.
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