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    Question.1442 - Of the cost elements making up total inventory cost, which is the most difficult to estimate?

    Answer Below:

    Stockout xxxxx

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    Answer: Modular design...
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    Answer: Customer attributes for the new product....
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    Answer: 80%...
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    Answer: Quality teams...
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    Answer: Product or service inspection...
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    Answer: all of these choices....
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    Answer: All of these should be monitored....
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    Answer: every operation should be externally directed to meet the customers' requirements....
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    Answer: all of these choices....
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    Answer: a product or service made or delivered in a foreign country....
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    Answer: $483,000...
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    Answer: such savings fall directly to the bottom line....
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    Answer: $212.28 per unit...
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    Answer: $62.5 million....
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    Answer: all of these choices....
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    Answer: The consolidated shipment is the low-cost option by $150.00....
    Question: Smith Equipment has three separate shipments to customers all in the same city. The shipment weights......
    Answer: consolidate the shipments at a savings of $150....
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    Answer: Internet...
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    Answer: All of these choices are significant contributing factors....
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    Answer: Rail....
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    Answer: All of these choices are included....
    Question: To reduce supply chain risk, a company should...
    Answer: buy the same critical item from two or more suppliers....
    Question: The "triple bottom line" of supply chain performance refers to...
    Answer: A) environmental, social, and financial performance....
    Question: Backward or upstream supply chain flows include...
    Answer: all of these choices....
    Question: Which of the following is included in the supply chain risk mitigation framework?...
    Answer: Postdisruption recovery...
    Question: The level of supply chain resilience is determined by the ability to...
    Answer: plan, detect, and act on disruptions....
    Question: Supply chain sustainability is accomplished primarily through...
    Answer: all of these choices....
    Question: A service guarantee...
    Answer: all of these choices....
    Question: Which of the following is a common potential benefit of outsourcing services?...
    Answer: Increased ability to focus on core competencies....
    Question: Service recovery refers to...
    Answer: the ability to quickly restore service following a service failure and provide compensation....
    Question: The ideal lot size for a lean system is...
    Answer: one....
    Question: The basic foundation of the Toyota production system and just-in-time manufacturing includes all of......
    Answer: longer product development times....
    Question: ________ is(are) the direct observation of work, conducted so that work practices can be improved....
    Answer: Gemba...
    Question: The ideal setup time for a lean system is...
    Answer: 0 minutes....
    Question: Lean thinking can be applied to...
    Answer: all of these choices....
    Question: A monthly production schedule calls for 20,000 units of product A, 10,000 units of product B, and 5,......
    Answer: 1,000 units of A; 500 B; 250 C....
    Question: The seven forms of waste include all of the following EXCEPT...
    Answer: bottleneck....
    Question: Which of the following is NOT generally an element of a lean system?...
    Answer: MRP push system...
    Question: Which of the following is true for takt time in a lean system?...
    Answer: Takt time is used to match supply and demand....
    Question: One of the main objectives of a lean system is...
    Answer: reduction of waste....
    Question: Reducing setup time is important because it...
    Answer: all of these choices....
    Question: The effect of a lean system on employees can best be described as...
    Answer: lean engages employees in problem-solving activities....
    Question: Process elements that might be changed when improving a process include...
    Answer: all of these choices....
    Question: A bottleneck is...
    Answer: all of these choices....
    Question: A service blueprint...
    Answer: has all of these features....
    Question: The capacity of a process is determined by...
    Answer: the bottleneck....
    Question: A bank has an average of 10 customers per hour arriving into the system, and it takes an average of......
    Answer: 5 customers...
    Question: What does a square or rectangle symbol indicate in a flowchart?...
    Answer: Operation...
    Question: A machine center can produce 175 units per day at 100% utilization. Demand is 75 units per day, and......
    Answer: 125 units....
    Question: If I denotes the average inventory in the system, T denotes the average throughput time, and R denot......
    Answer: R = I/T....
    Question: If a factory has 100,000 units of materials in the system and if the average flow rate of the system......
    Answer: 20 days....
    Question: Assembly lines have a number of characteristics. Which of the following is typically NOT a character......
    Answer: Use of general-purpose equipment....
    Question: Process efficiency is usually highest in which type of process?...
    Answer: Assembly line...
    Question: An important lesson from the product-process matrix is...
    Answer: give importance to aligning product choice decisions and process choice decisions....
    Question: The type of processing system that is used for highly standardized products such as oil and gasoline......
    Answer: continuous process....
    Question: Which of the following is among the factors that influence process selection?...
    Answer: All of these choices...
    Question: A company makes necklaces with attached letters. Department A manufactures the necklace chains and l......
    Answer: make-to-stock, assemble-to-order....
    Question: The type of processing system that is used for complex jobs with a unique or creative set of activit......
    Answer: project....
    Question: Mass customization is defined as...
    Answer: producing a large variety of products at approximately the same cost as mass production....
    Question: The throughput ratio (TR) is the ratio of the total processing time for the job divided by...
    Answer: total waiting time plus total processing time....
    Question: Make-to-stock (MTS) and make-to-order (MTO) choices each offer relative advantages and disadvantages......
    Answer: MTO typically allows for higher flexibility in product design offerings....
    Question: Primary reasons to hold inventory include all of the following EXCEPT...
    Answer: to decrease inventory turnover ratio....
    Question: A paint supplier that places orders for different colors of paint for delivery at the same time shou......
    Answer: P system....
    Question: Given that unit cost = $25, annual carrying charge = 10%, annual demand = 4,000 units, and ordering......
    Answer: 219 units....
    Question: A particular brand of soap has a lead time of three weeks to reorder, a weekly standard deviation of......
    Answer: 118.49 units....
    Question: A computerized inventory system checks inventory levels at the end of the week and produces suggeste......
    Answer: A periodic review system...
    Question: ABC analysis requires that inventory be classified according to...
    Answer: annual dollar usage....
    Question: Which cost is NOT part of inventory ordering costs?...
    Answer: Obsolescence costs...
    Question: In the basic EOQ model, if annual demand and carrying costs double, the EOQ...
    Answer: remains the same....
    Question: Traditional ABC classification means that inventory...
    Answer: is classified according to demand times cost (demand * cost)....
    Question: Demand for an item is 10 units per week, and delivery lead time is 3 weeks. The safety stock is know......
    Answer: 41...
    Question: Service levels are...
    Answer: all of these choices....
    Question: In MRP "scheduled receipts" are...
    Answer: open orders not delivered yet....
    Question: Using a lot-for-lot ordering strategy for the following item, what is the net requirements amount in......
    Answer: 5 units...
    Question: ________ systems use a requirements order philosophy, while ________ systems use a replenishment ord......
    Answer: MRP, order-point...
    Question: The parts explosion results in the following outputs:...
    Answer: purchase orders and shop orders....
    Question: Using a lot-for-lot ordering strategy for the following item, what is the planned order release amou......
    Answer: 15 units...
    Question: The master production schedule (MPS) for two products, A and B, is shown below. To manufacture item......
    Answer: 38 units...
    Question: Successful MRP implementation requires...
    Answer: management support, accurate data, and adequate computer support....
    Question: Integration with which of the following functions is required for an effective ERP system?...
    Answer: All of these choices...
    Question: The master production schedule for Product A shows a need for 30 units, and Product B shows a need o......
    Answer: 190...
    Question: Decisions made in operations affect other functions as below except -...
    Answer: Operations decisions directly affect government’s macro-economic policy...
    Question: The process view provides a basis for viewing an entire business as a system of interconnected proce......
    Answer: True...
    Question: The three primary functions that exist in most business organizations are...
    Answer: operations, finance, and marketing....
    Question: The primary role of operations and supply chain management is to...
    Answer: increase the productivity of the firm....
    Question: The transformation view of the operations function provides a unified approach for studying the manu......
    Answer: True...
    Question: Simultaneous Engineering or Concurrent Engineering refers to all below...
    Answer: All of the above...
    Question: Which of the following is NOT true regarding service and manufacturing operations?...
    Answer: both employ roughly 50% of the US workforce...
    Question: Marketing function has a great deal of interface with the operations function except...
    Answer: Marketing’s product branding advertising is directly related to operation’s inventory decisions...
    Question: Finance and Accounting function has a great deal of interface with the operations function except...
    Answer: Finance can directly determine initial public offering (IPO) decisions based on operations considerations...
    Question: Cross-functional teams in product and process development/design requires all except...
    Answer: Research and Development teams are separated from all other functions...
    Question: Why is operations management a more encompassing term than production management?...
    Answer: Operations management refers to service as well as manufacturing organizations....
    Question: 3.3 Written Assignment: Regulatory Requirements -Quality Assurance (QA) and Quality Control (QC) – I......
    Answer: Introduction Quality Assurance (QA) and Quality Control (QC) are both essential parts of repair, Repair, and Overhaul (MRO) organizations that make su......
    Question: Your Experiences with Operations Strategy First, think about your past and current experiences with......
    Answer: Experiences with Operation StrategyAs an African American employee in a successful business organization, I have seen how important it is to implement......
    Question: Review the Research PaRer & Presentation Overview and finalize your research paper. Double­ check th......
    Answer: AbstractThe research paper has aimed to find whether optimizing aircraft maintenance operations at Delta Air Lines leads to improved efficiency and re......
    Question: You will summarize your interview, responses, analysis, and recommendations in a PowerPoint presenta......
    Answer: Speaker Notes (needs to be sent to the client - the last person adding to this will ensure unnecessary tutor names or other data are removed.) PASTE T......
    Question: Based on your readings and resource review, you should be able to define the three strategic approac......
    Answer: IntroductionCompetitive advantage is any aspect that gives an edge to a company over its competitors in the industry. Competitive advantage is attaine......
    Question: Identify an online sales company and explain how the concepts of complexity and divergence apply. Pr......
    Answer: Let's consider the online sales company Amazon as an example and examine how the concepts of complexity and divergence apply to its business. 1. C......
    Question: Data Analysis and Interpretation...
    Answer: Participants' Demographic StatisticsThe researcher employed purposive sampling, selecting fifty college-age adolescents with various backgrounds and d......
    Question: The physicians at Aubreyville Regional Hospital were growing increasingly frustrated with the lack o......
    Answer: Question 1The passion of Dr. Jones for retrieving historical information about patients confirms her intention to gain a holistic understanding of her......
    Question: Write an essay on how one could design a Visual Factory and perform Total Productivity Maintenance (......
    Answer: IntroductionVisual factory is a critical component that a production manager uses for developing an efficient and safe production control and maintena......
    Question: Read the article that discusses statistical process control for service processes. Discuss how the m......
    Answer: Multiple control charts is a very important tool in statistical process control. Multiple control charts has to control the product or the process at......
    Question: Choose a real-world process (at a bank or hospital or university or restaurant or hotel or even at y......
    Answer: INTRODUCTIONSix Sigma is a tool that is used in all types of industries. The tools for each business are universal. Six Sigma, over the last 25 years......
    Question: Perform PEST and SWOT analyses for a potential Six Sigma project at your workplace. Summarize the pr......
    Answer: Six Sigma refers to a marketing strategy that lays emphasis on the improvement of the profitability and the efficiency of an organization on the whole......
    Question: Read the article that discusses how Six Sigma was applied to improve a hospital discharge process. D......
    Answer: Hospital discharge process: This is the time when patients are discharged from the hospitals. Either they are to be taken back home or to an after car......
    Question: Read the article that explains the types of benchmarking. Write a short paper on how any or all of t......
    Answer: BenchmarkingBenchmarking is the comparison of technological standards with the best in the industry. This method of comparison involves assessing exis......
    Question: Read the article that discusses the Measure phase and the commonly used tools and concepts within th......
    Answer: Measure appears to be second in position in case of a teams work. In case of measure quantity holds an important position rather than quality.The aim......
    Question: Identify the customers of a process at your workplace. Then, identify their requirements from that p......
    Answer: PROJECT MANAGEMENT OF A COMPANY THAT INSTALLS MACHINES FORCANCER TREATMENTIn today’s world, the requirements of the customers are rapidly changing. Cu......
    Question: Read the article that discusses the stages of team development. Discuss the forming, norming, stormi......
    Answer: Working on a new line production with a newly carved team of members, we had undergone the steps of forming, storming, norming and performing to carry......
    Question: Magnet hospitals are required to integrate evidence-based practice. What are steps and strategies th......
    Answer: Evidence based practice is an integrative mode of addressing healthcare questions and problems with best available evidences and expertise coupled wit......
    Question: Read the article that discusses how to create a happy workforce using Total Performance Scorecard. D......
    Answer: Similarities between Balanced Scorecard and Total Performance Scorecard ? Both Balanced Scorecard and Total performance scorecard are the system of me......
    Question: Create a brochure with two sections delineating the advantages of SIOP(Sheltered Instruction Observa......
    Answer: The Sheltered Instruction Observation Protocol (SIOP) is a model that has helped in addressing the academic needs of people interested in learning Eng......
    Question: Armand Feigenbaum made significant contributions to quality management. Research on Feigenbauma's co......
    Answer: Armand V. Feigenbaum and the term Quality Control go hand in hand. He is an American Quality Expert and a businessman. He was instrumental in devising......
    Question: Read the article that discusses how to use Deming’s principles to create the next generation of lead......
    Answer: William Edward Deming was not only a statistician but also a professor, author, lecturer and consultant. His amazing principles to create leaders were......
    Question: Read the article that illustrates how process mapping can be applied to a sales process, with “lean......
    Answer: Use of Lean solution Lean solutions are used to eliminate the waste in any process whether in form of step or time. Lean solutions main aim is to impr......
    Question: Read the article that illustrates the 5S methodology with examples. Also, watch this video that incl......
    Answer: Implementation of 5S5S helps in improving the work environment of your work place thus leading to better productivity. Here we are taking the example......
    Question: Read this article about Lean Six Sigma for the twenty-first century. Review the “What needs to cha......
    Answer: Assignment: Changes Needed in Six Sigma Organizations usually view Six Sigma as a concept formulating ways to achieve perfection or near perfection. O......
    Question: Blog: Reflective Summary You have been investigating and reflecting upon Six Sigma quality managemen......
    Answer: The Six Sigma quality management issues have multiple issues associated with it. The quality management area in a business organization is critical fo......
    Question: Read this article about Lean Six Sigma for the twenty-first century. Review the “What needs to chang......
    Answer: Discussion Title: Changes Needed in Six Sigma The business environment has evolved through changes and it is bound to embrace changes in the future to......
    Question: Read the case study about using the DMADV approach for designing new housing at the University of Mi......
    Answer: IntroductionThe DMADV approach is an effective tool to create and develop new product, services or modify existing products to make them meet client e......
    Question: Share examples of each of the Level I, II, and III coping strategies that you have experienced in yo......
    Answer: Coping StrategiesToday the main problem for a person is how to cope up with this fast running life which on failure creates stress in our mind leading......
    Question: Investigate on the internet the various ways (interviews, focus groups, surveys, etc.) to collect th......
    Answer: Interviews, Observations, Questionnaires, focus group are used for collecting the voice of the customers. A large amount of information can be collect......
    Question: Read the article that presents the application of Six Sigma in research and development firms. Summa......
    Answer: Practicing Six Sigma Quality ManagementSix Sigma approach is a set of tools and strategies to improve the on- going process. Organizations have starte......
    Question: Investigate on the internet the method of kaizen (Japanese for “continuous improvement”) and the too......
    Answer: Japanese for "improvement", or "change for the better" refers to philosophy or practices that focus upon continuous improvement of......
    Question: Discussion Title: Continuous Improvement Read this case study about the continuous improvement and i......
    Answer: Continuous improvement is defined as “an organization wide process of focused and sustained incremental innovation” (Coughlan & Coughlan, 2011). R......
    Question: Discussion Title: Comparison of Six Sigma Course Project with CSX’s Project Read this article that p......
    Answer: The cause and effect diagram provides an effective tool for planning solutions for a problem. It is more effective as planning tool as compared to pro......
    Question: Blog: Practicing Six Sigma Quality Management Read this case study about CSX’s DMAIC approach to red......
    Answer: CSX Corporation managed to save millions of dollars by using define, measure, analyze, improve and control (DMAIC) approach of Six Sigma through reduc......
    Question: Discussion Title: Relationship among the Performance Metrics (a) What is the need for the process ca......
    Answer: IntroductionProcess capability in Six Sigma measures the percentage or degree of extent to which the production systems of the firm is able to meet th......
    Question: Read the article about combining Six Sigma and knowledge management in hospitals. The authors hypoth......
    Answer: IntroductionSix Sigma approach focuses on “process improvement and variation reduction”. (Isixsigma.com) while knowledge management system emphasis on......
    Question: Watch the video "Overview of Six Sigma" located in the Module Six Resource folder. Identif......
    Answer: Common causes of variation in manufacturing process In the manufacturing process of a firm, the common causes of variation refer to those fluctuations......
    Question: Post 5.1 Recall “management reserve” from the Module Five lecture document. A management reserve is......
    Answer: Management reserve Management reserve refers to any unforeseen, unpredictable or unanticipated work, circumstances and events encountered by a project......
    Question: Write a report of 200–400 words about the repeatability and reproducibility of the measurement syste......
    Answer: IntroductionIn a Six Sigma project undertaken to reduce quality errors in the painting process of a company that produces metal parts for A/C systems,......
    Question: Read this article that explains the importance of repeatability and reproducibility of a measurement......
    Answer: A service process needs efforts directed towards the customers demands. In return to the fulfillment of these demands, the service generates not only......
    Question: Review this example to learn how individual effectiveness of each inspector is calculated, besides r......
    Answer: The problems associated with the measurement errors in any measurement system remains a critical problem area. Inspectors have different human judgmen......
    Question: Read this case study about a consulting company that improved customer satisfaction by employing R&a......
    Answer: Variations are common in any operations, be it the data collection process or any important operation. But the vital discussion area remains to remove......
    Question: Read this case study that discusses how quality is achieved at an Iowa Hospital via the PDSA approac......
    Answer: Introduction The PDSA model which stands for Plan-Do-Study-Act was developed by Dr. W. Edwards Deming as an improvement of the PDCA improvement model......
    Question: Discussion Title: Improvement of a Hospital’s Discharge Process Read this article that presents the......
    Answer: IntroductionSix Sigma DMAIC approach provides a framework for improving customer satisfaction and reducing hassles and time involved for patient disch......
    Question: Read this article that compares traditional and Six Sigma quality approaches with respect to eight f......
    Answer: Introduction The claim of that traditional approaches to quality improvement can be “overly idealistic or not sustainable” is not without its reasons.......
    Question: Read the case study that discusses the costs of poor quality. Identify at least five costs of poor q......
    Answer: Five costs of poor quality Cost of quality represents costs that are incurred for failing to adhere to certain minimum quality standards of a product......
    Question: MANAGING QUALITY IN HEALTHCARE INDUSTRY...
    Answer: AbstractIn the Healthcare Industry, the quality of care provided has now become more than just a concept. In the US, the Institute of Medicine has lau......
    Question: The research paper would be on an issue related to management of operations such as Comparison betwe......
    Answer: Managing Quality in Healthcare industryAbstractIn the Healthcare Industry, the quality of care to be provided or received has now become more than jus......
    Question: The first three questions refer to the attached article. For these, imagine that David Hammond has h......
    Answer: The first three questions refer to the attached article. For these, imagine that David Hammond has heard of your skills in management, and has contrac......
    Question: You are currently working at a large academic medical center in an urban community. For the last sev......
    Answer: Large academic medical centers and community not-for-profit hospitals have very different economic and financial structures, which can affect staffing......
    Question: First Discussion topic: Specific IT system applications in health services delivery fall into four m......
    Answer: Topic 1 Influence of Clinical Information Systems on Healthcare DeliveryClinical Information Systems (CIS) have a major positive impact on patient car......
    Question: Increasingly, technological change is raising serious ethical and moral issues: gene mapping of huma......
    Answer: Human gene mapping, a cutting-edge technique that pinpoints individual genes and their roles, has enormous promise to enhance human health. The gene m......
    Question: The concept of value (improved benefits at lower costs) is important to those who finance healthcare......
    Answer: The idea of value in healthcare, which means getting better results at cheaper prices, is essential to the long-term viability and efficiency of healt......
    Question: First Discussion Topic: This article from Future Technology 500, presents several examples of medica......
    Answer: Challenges and Opportunities of Implementing Holograms and Acupuncture Technology Brain-Computer Interfaces (BCI) BCIs have the revolutionary potentia......
    Question: Explain the salient characteristics of various types of provider organizations, including mission, p......
    Answer: Working with a downtown Community health center was an honor. During my year-long position, I learned much about the distinctive qualities that make C......
    Question: 1. What are the cultural beliefs and values presented in the video? 2. What is the value to the pati......
    Answer: Cultural beliefs and values The video emphasizes several cultural values and ideas, most notably the significance of interpersonal connections, commun......
    Question: Using the link Harvard Business Publishing found in your course Table of Contents, read the case stu......
    Answer: 1. Summary of the Scenario and Key PointsThe Kleiner-Perkins and Genentech case is a prime example of the transformative convergence between scientifi......
    Question: As a primary benchmark, benefits must outweigh any negative consequences. Research and evaluate the......
    Answer: Clinical trials play a key role in the evolution of medical treatments. These systematic examinations, involving human volunteers, assess the safety,......
    Question: The Institute for the Future predicted that new vaccines would be developed to treat noninfectious d......
    Answer: The Health Insurance Portability and Accountability Act (HIPAA) is a pivotal law designed to safeguard the health and well-being of American citizens.......
    Question: Research HIPAA, and explain the following in detail: What is the date of the enactment of this act?W......
    Answer: The Health Insurance Portability and Accountability Act (HIPAA) is a pivotal law designed to safeguard the health and well-being of American citizens.......
    Question: The text discusses forces of future change. Please choose two and offer an analysis of your choices....
    Answer: Impact of Medical TechnologyThe diagnosis and treatment of patients have greatly improved thanks to medical technology. Advanced imaging techniques, i......
    Question: Answer the following short-answer questions in detail. See the Final Exam Rubric for moreinformation......
    Answer: What are the basic characteristics that differentiate the U.S. health care delivery system from that of other countries?The intricate combination of p......
    Question: In Module Seven, you will investigate metrics for determining success in an innovative organization......
    Answer: I am employed as a financial counselor in a large medical facility. According to me none of Ekvall's 10 aspects surprised me much since taken as a who......
    Question: Discussion Assignment 11) In your opinion, what is Operations and Logistics Management and why is it......
    Answer: The procedures that guarantee a business's seamless and effective operation are included in operations and logistics management. It involves controlli......
    Question: Homework Assignment 2DetailsAnswer all of the following questions. Make sure to show your calculatio......
    Answer: Running head: HOMEWORK ASSIGNMENT 2Homework Assignment 2 Quincy CollegeQuestion 1Labor Productivity = Total Revenue/ Total Hours Worked (Jacobs & Chas......
    Question: Discussion Assignment 2Answer the following questions:1) In your own words, what is productivity and......
    Answer: Productivity measures the efficiency with which labor and capital are used to produce goods and services. Businesses gain from higher productivity in......
    Question: Discussion Assignment 3Answer the following questions:1) What are three factors that may affect the......
    Answer: 1) To help the working poor, the government raises the minimum wage.Intentionally increasing the minimum wage to aid the working poor could result in......
    Question: Homework Assignment 4DetailsAnswer all of the following questions: 1) Describe how the bullwhip effe......
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    Question: Discussion Assignment 4What do you think may be an unintended consequence of each of the following p......
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    Question: Discussion Topic: Discussion Assignment 5Discussion Assignment 5Watch the following video:Amazon vs.......
    Answer: When it comes to inventory management, Walmart and Amazon are very different. Walmart uses a mixed approach, which is supported by its actual retail p......
    Question: Discussion Assignment 6Watch the following video:https://www.youtube.com/watch?v=U2AGLeJBFNgLinks to......
    Answer: The Brightpick video, which shows off their sophisticated robotic warehouse with AI automation, emphasizes how optimization helped them accomplish two......
    Question: Final Presentation Assignment (Submit Here)Based on the final presentation instructions, MGT 360 OT......
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    Question: Discussion Board 1: Creating Competitive Advantage with Operations***DB grading policy: respond to o......
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    Question: Discussion: Supply Chain StrategyCO3: Evaluate the four building blocks of a supply network strategy......
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