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| Section | Objectives |
|---|---|
| Topic 1: Major Supply Chain Issues: Sourcing Materials and Services | - Role of Logistics in Supply Chains - Developing Productive Supplier Relationships in a Competitive Market - Major Challenges in Supply Chain Management Today - Introduction to Global Supply Chain Management - Inventory Management |
| Topic 2: Distribution and Operations Management | - Transport Management - Stock Management - Order Management - Introduction to Distribution Network - Warehouse Management |
| Topic 3: Demand Planning and Forecasting | - Supply Chain Issues for Short Life Cycle Products - Revenue Management - Issues and Trade-offs in Global Supply Chain Management - Demand Forecasting and Purchase Price Variance (PPV) Savings - Spreadsheet Newsvendor Models - Integrated View of Procurement, Manufacturing and Operations Management |
| Topic 4: Principles of Supply Chain Management & Logistics | - Factors Affecting Supply Chain Management - Introduction to Supply Chain Management - Supply Chain Processes - Management Components of Supply Chain Management |
| Topic 5: E-Supply Chain Management | - Information Flows and Information Systems Integration - Modern Fulfilment Tools and Applications in Supply Chain - Differences Between Logistics and Supply Chain Management - Big Data and IoT in Supply Chain - Warehouse Management System (WMS) |
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NEW QUESTION # 45
Total ordering and holding costs
Answer: D
Explanation:
The economic order quantity represents the lot size that balances two opposing inventory-cost components:
ordering cost and holding cost. Ordering larger quantities reduces the number of replenishment orders placed during a period, thereby lowering annual ordering cost. However, larger quantities increase average cycle inventory and therefore increase annual holding cost. Ordering smaller quantities produces the reverse effect.
At the EOQ, the combined annual ordering and holding cost reaches its minimum. A significant managerial characteristic of the EOQ cost curve is that it is comparatively flat near this minimum. Consequently, modest deviations above or below the mathematically optimal order quantity generally produce only a small increase in total relevant cost. This is why total ordering and holding costs are described as relatively stable around the economic order quantity .
This property is operationally useful because managers do not normally need to implement the calculated EOQ with absolute numerical precision. Practical constraints such as case-pack quantities, pallet sizes, supplier minimums, transportation capacity, and scheduling considerations can justify a nearby quantity without materially damaging cost performance.
Therefore, option B accurately describes the behavior of total ordering and holding cost near EOQ.
Reference Topic: Inventory and Warehousing - EOQ, Ordering Cost, Holding Cost, and Lot-Sizing Trade- offs.
NEW QUESTION # 46
When demand is steady, cycle inventory and lot size are related as