MTH601 Quiz 1 Solution and Discussion
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Excess of inventories are undesirable due to the following reasons; MTH601
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If the item is held in stock, the cost involved is the item carrying or holding cost. Some of the costs
included in the unit holding cost are
(1) Taxes on inventories,
(2) Insurance costs for inflammable and explosive items,
(3) Inventory Control
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In the deterministic type of inventory control, the parameters like demand, ordering quantity cost, etc are already known or have been ascertained and there is no uncertainty. In the stochastic inventory control, the uncertain aspects are taken into account.
First let us consider the inventory control of the deterministic type. There are four EOQ models which are discussed below. The first one is the well-known Wilson’s inventory model.
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increased
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This post is deleted!
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*also decreasing
*increased
*remained constant
*uncertain
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Which of the following times are not directly related to the activity cost as there is no certainty of time in such activities so their duration cannot be reduced, hence the cost cannot be expressed correctly?
CPM Times
Pert times
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If we increase the inventory, then the shortage cost will -------------. MTH601
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The parameters like demand and ordering quantity cost are quite --------- in the Deterministic inventory models. MTH601
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Which of the following cost of an item varies directly with the size of inventory as well as the time the item held in stock? MTH601
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In resource leveling when two or more jobs compete for same resources, first try to allocate an activity, which is of --------- duration and next to the activity which having next --------- duration. MTH601
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If the ordered quantity of a commodity is ‘q’, then the ordering cost per unit is “ C2/q ” which is ---------proportional to the quantity ordered. MTH601
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By putting the replacement rate ‘R?infinity’ in the Economic Order Quantity(EOQ) of Manufacturing Model with allowed Shortage, then the result is -----------. MTH601
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Which of the following technique to solve the network flow diagrams, is event oriented? MTH601
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The graph of Wilson’s Model (Purchasing Model with no shortage) is of the --------- shape. MTH601
