Management
1.Inventory management is the planning and controlling of inventories in order to meet the competitive priorities of the organization.(Points : 2) | True False | 2. Supply chain integration is the effective coordination of supply chain processes through the seamless flow of information to suppliers, but does not include customers, such as distributors and retailers. (Points : 2) | True False | 3.Sustainability has three principle elements; financial responsibility, environmental responsibility, and social responsibility.(Points : 2) | True False | 4.The repeated observations of demand for a product or service in their order of occurrence form a pattern known as a time series.(Points : 2) | True False | 5.Operations planning and scheduling is the process of making sure demand and supply plans are in balance.(Points : 2) | True False | 6.Material requirements planning (MRP) is a computerized information system developed specifically to aid in managing dependent demand inventory and scheduling replenishment orders.(Points : 2) | True False | 7.The just-in-time (JIT) philosophy is the belief that cutting inventory and removing non-value-added activities in operations can eliminate waste.(Points : 2) | True False | 8.Items, such as components or assemblies, needed to manufacture a final product are called:(Points : 3) | quarantined materials work-in-process raw materials finished goods | 9. Which of the following changes would increase the likelihood of a supply chain experiencing the bullwhip effect? (Points : 3) | engineering changes to the design of a product instituting a more accurate materials management information system closely coordinating promotions with the internal marketing department and suppliers using a more reliable delivery