4. In inventory control, the time which elapse between placing an order and the arrival of the inventory is called A. cycle time B. lead time C. mean time D. variance time 5. The basic difference(s) between the simple EOQ model and the production run model is the: A. holding cost per unit per year and the ordering cost per order B. difference in the inventory delivery assumption C. difference in the assumption about demand D. difference in the assumptions concerning stock-out and shortages 6. The purpose of the economic reorder point is to tell you: A. how much to order B. when to order C. when your stock is at a certain level D. the value of the inventory left
4. In inventory control, the time which elapse between placing an order and the arrival of the inventory is called A. cycle time B. lead time C. mean time D. variance time 5. The basic difference(s) between the simple EOQ model and the production run model is the: A. holding cost per unit per year and the ordering cost per order B. difference in the inventory delivery assumption C. difference in the assumption about demand D. difference in the assumptions concerning stock-out and shortages 6. The purpose of the economic reorder point is to tell you: A. how much to order B. when to order C. when your stock is at a certain level D. the value of the inventory left
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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![4. In inventory control, the time which elapse
between placing an order and the arrival of the
inventory is called
A. cycle time
B. lead time
C. mean time
D. variance time
5. The basic difference(s) between the simple EOQ
model and the production run model is the:
A. holding cost per unit per year and the
ordering cost per order
B. difference in the inventory delivery
assumption
C. difference in the assumption about demand
D. difference in the assumptions concerning
stock-out and shortages
6. The purpose of the economic reorder point is to
tell you:
A. how much to order
B. when to order
C. when your stock is at a certain level
D. the value of the inventory left
2](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F1cb2edfb-9d78-4fce-b39c-d9a0d22d3df3%2F40b72a75-c7f2-41af-aee3-ac75dbf1cea2%2Fkattlfv_processed.png&w=3840&q=75)
Transcribed Image Text:4. In inventory control, the time which elapse
between placing an order and the arrival of the
inventory is called
A. cycle time
B. lead time
C. mean time
D. variance time
5. The basic difference(s) between the simple EOQ
model and the production run model is the:
A. holding cost per unit per year and the
ordering cost per order
B. difference in the inventory delivery
assumption
C. difference in the assumption about demand
D. difference in the assumptions concerning
stock-out and shortages
6. The purpose of the economic reorder point is to
tell you:
A. how much to order
B. when to order
C. when your stock is at a certain level
D. the value of the inventory left
2
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