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GATE 2023 II Inventory control II Quiz 55

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Question 1

The lead time is defined as____.

Question 2

Consider the following statements:

1. Safety stock is the difference between the reorder level and lead time demand.

2. As safety stock increases, service level increases.

3. As safety stock increases, service level decreases.

Which of the following statements is/are correct __________?

Question 3

The economic order quantity for inventory model of infinite replenishment model having demand of 1000 units, holding cost of Rs. 20 per item per year while ordering cost is Rs. 100 per order, is __________.

Question 4

Consider the following statements regarding the Economic Batch quantity (EBQ) model with deterministic uniform demand:

1. Time of replenishment is zero.

2. Production rate is infinite.

3. Economic Batch Size exists at a point where inventory-carrying cost is equal to ordering cost.

Which of the following statements is/are correct ___________?

Question 5

Consider the following assumptions:

1. Only one product is involved.

2. Lead time is constant.

3. Each order is received in a single delivery.

Which of the following assumptions is/are correct regarding the basic EOQ model _________?

Question 6

A company uses 2555 units for a item annually. Delivery lead time is 8 days. The recorder point (in number of units) to achive optimum inventory is ________.
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