Check for Understanding: Resource Allocation

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Question 1 of 7

1. Question
What is resource allocation in the context of strategic operations management?
- Determining the optimal inventory levels for different products
- Assigning resources to different projects or activities based on their importance and priority
- Minimizing the costs associated with resource acquisition
- Identifying and addressing resource constraints in the production process
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Question 2 of 7

2. Question
What is the primary objective of inventory management in strategic operations?
- Minimizing inventory holding costs
- Maximizing the quantity of inventory held
- Minimizing stockouts and associated costs
- Maximizing the utilization of storage space
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Question 3 of 7

3. Question
What assumption is made in the EOQ model?
- Demand is constant and known with certainty
- Lead times are consistent and predictable
- Carrying costs exceed ordering costs
- Stockouts are allowed and can be easily managed
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Question 4 of 7

4. Question
What is the primary goal of Just-in-Time (JIT) inventory management?
- To minimize lead times and reduce setup costs
- To maximize inventory levels for better customer service
- To minimize inventory holding costs
- To maximize order quantities to achieve economies of scale
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Question 5 of 7

5. Question
How are inventory items classified in ABC analysis?
- Based on their alphabetical order
- Based on their sales revenue generated
- Based on their storage location in the warehouse
- Based on their historical demand patterns
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Question 6 of 7

6. Question
What is the primary goal of ABC analysis?
- To maximize inventory turnover ratio
- To reduce stockouts and minimize carrying costs
- To achieve an equal distribution of inventory across all categories
- To identify potential bottlenecks in the supply chain
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Question 7 of 7

7. Question
What principles does Dell employ in its resource allocation to optimize inventory management and supply chain efficiency?
- Economic Order Quantity (EOQ) and Just-in-Time (JIT)
- ABC Analysis and Just-in-Time (JIT)
- Economic Order Quantity (EOQ) and ABC Analysis
- Just-in-Time (JIT) and Material Requirements Planning (MRP)
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Check for Understanding: Resource Allocation

Check for Understanding: Resource Allocation

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