Inventory Management and Control

Operations Management 2

Name: Course/Year:
Instructor: Date:

CHAPTER 4
TRADITIONAL THINKING IN INVENTORY OPTIMIZATION

I. MODIFIED TRUE OR FALSE. Write T if the statement is true and F if it’s false.

1. Traditional inventory systems have always focused on improving forecasting.

2. Most of the issues in traditional inventory management problem occur at the retail store.
3. Paradigm is a solving inventory problem.
4. Many inventory problems are the result of poor execution, poor communication, and/or poor decision
making.
5. Poor Execution leads to miscommunication.
6. Lack of Communication can help supply chain for a product company.
7. Poor Decision making occurs when the business only decides base on her/his “gut feeling.”
8. Pinpoint is the prevention of the problem.
9. Physical Distribution is the Operation of sales, procurement and manufacturing.
10. Prevent need immediate attention.

II. MATCHING TYPE. Connect the word to a correct definition and right the letter before the number.

1. Traditional Inventory System A. Problem Solution

2. Saw-Tooth Inventory Diagram B. Identify the problem
3. Paradigm C. Attempt to affect demand
4. Poor Execution D. Planning on Supply
5. Pinpoint E. Employ differential pricing
6. Controlling Supply F. Interdependent activities
7. Process Integration GFHJJKJKJGGKJ G. Automated
8. Pricing H. Diagram use for inventory
9. Altering Demand I. Lack of action
10. Integrated Logistics Management J. Manual
K. sales, procurement and manufacturing
III. ILLUSTRATION. Label what’s in the box.

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