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Certified in Production and Inventory Management - Master Planning of Resources

Last Update Nov 29, 2022
Total Questions : 105

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Certified in Production and Inventory Management - Master Planning of Resources Questions and Answers

Questions 1

A Canadian-based company has a long-term contract with a US-based supplier. The Canadian company has been experiencing short shipments and variations of the supply lead time with the US supplier for a few months. Which of the following is the most appropriate action for the master production scheduler in this situation?

Options:

A.

Ask the purchasing manager to work with the supplier to improve their shipping quantity accuracy and lead time stability.

B.

Ask the purchasing manager to terminate the contract with this supplier, and look for a better supplier.

C.

Apply safety stock and safety lead time while planning the master production schedule.

D.

Apply safety lead time according to the target service level while planning the master production schedule.

Questions 2

The most appropriate approach for developing forecasts for strategic business planning is:

Options:

A.

customer inputs.

B.

quantitative statistical methods.

C.

economic growth models.

D.

casual analysis.

Questions 3

Which of the following criteria is used to determine safety stock in a distribution center?

Options:

A.

Economic order quantity

B.

Seasonal index value

C.

Alpha factor level

D.

Probability of stocking out