14. Which one of the following statements about MRP is true? a) To be classified as a closed-loop MRP user, a company must use either the L4L or POQ rules for lot sizing. b) MRP gross requirements for...

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Extracted text: 14. Which one of the following statements about MRP is true? a) To be classified as a closed-loop MRP user, a company must use either the L4L or POQ rules for lot sizing. b) MRP gross requirements for a parent item are equal to the planned order release of its components, c) MRP logic is based on the logic of uniform, continuous demand, and item independence. d) MRP gross requirement for a component depend on the planned order releases of its immediate parents. 15. If a planned receipt of a item week will the corresponding planned order release occur? due in week 6, and the item's lead time is 2 weeks, in which a) Week2. b) Week 4. c) Week 6. d) Week 8. 16. The type of inventory that is used to absorb uncertain rates in demand or supply is called a) Cycle inventory. b) Anticipation inventory. c) Pipeline inventory. d) Safety stock inventory. 17. Which one of the following factors can create pressure for larger inventories? a) Transportation cost. b) Interest or opportunity cost. c) Insurance premiums. d) Storage and handling cost. 18. Which one of the following is a reason to have small inventories? a) To improve customer service. b) To reduce ordering costs c) To reduce equipment setup costs d) To reduce interest expense or opportunity costs. 19. Which one of the following is the primary lever for reducing cycle inventory? a) Leveling out demand rates. b) Reducing lead time c) Reducing the batch size Q d) Improve forecasting. 20. What is true in explaining ABC analysis? a) This process divides items into three classes according to their inventory level. b) Class A items normally have the least dollar usage. c) Class B and class C account for most of inventory items but not dollar usages. d) Class Caccounts for the largest dollar usage of any class.