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1、Chapter 10Managing Economies of Scale in the Supply Chain: Cycle InventoryTrue/False1. A lot or batch size is the quantity that a stage of the supply chain either produces or purchases at a given time.Answer: TrueDifficulty: Moderate2. Cycle inventory is the physical inventory in the supply chain du
2、e to either production or purchases demanded by the customer.Answer: TrueDifficulty: Moderate3. When demand is steady, cycle inventory and lot size are related as follows:Cycle Inventory = Lot Size x 2 = Q*2.Answer: FalseDifficulty: Moderate4. Cycle inventory is primarily held to take advantage of e
3、conomies of scale and reduce profit within the supply chain.Answer: FalseDifficulty: Easy5. Increasing the lot size or cycle inventory often decreases the cost incurred by different stages of a supply chain.Answer: TrueDifficulty: Moderate6. The total annual cost is the sum of annual material cost,
4、annual order cost, and annual holding cost, and is given as TC = CD + (D/Q)S + (Q/2)hC.Answer: TrueDifficulty: Moderate7. The optimal lot size is referred to as the economic order quantity (EOQ). It is denoted by Q * and is given by the equation: Q* = 2DS/hC.Answer: TrueDifficulty: Moderate8. Total
5、ordering and holding costs are unstable around the economic order quantity.Answer: FalseDifficulty: Moderate9. To reduce the optimal lot size by a factor of k, the fixed order cost S must be reduced by a factor of k.Answer: FalseDifficulty: Moderate10. Aggregating across products, retailers, or supp
6、liers in a single order allows for a reduction in lot size for individual products because fixed ordering and transportation costs are now spread across multiple products, retailers, or suppliers.Answer: TrueDifficulty: Moderate11. A key to reducing cycle inventory is the reduction of lot size.Answe
7、r: TrueDifficulty: Easy12. A key to reducing lot size without increasing costs is to reduce the holding cost associated with each lot.Answer: FalseDifficulty: Moderate13. Reduction of fixed cost may be achieved by aggregating lots across multiple products, customers, or suppliers.Answer: TrueDifficu
8、lty: Easy14. A discount is volume-based if the pricing schedule offers discounts based on the quantity ordered in a single lot.Answer: FalseDifficulty: Hard15. Pricing schedules with all unit quantity discounts encourage retailers to increase the size of their lots, which reduces the average invento
9、ry and flow time in a supply chain.Answer: FalseDifficulty: Moderate16. The supply chain profit is higher if each stage of the supply chain independently makes its pricing decisions with the objective of maximizing its own profit. Answer: FalseDifficulty: Moderate17. Discounts related to price discr
10、imination will be lot size based.Answer: FalseDifficulty: Hard18. Price discrimination is the practice where a firm charges differential prices to maximize profits.Answer: TrueDifficulty: Easy19. Although a forward buy is often the retailers appropriate response and increases their own profits, it u
11、sually increases demand variability with a resulting increase in inventory and flow times within the supply chain.Answer: TrueDifficulty: Moderate20. Trade promotions lead to a significant increase in lot size and cycle inventory because of forward buying by the retailer.Answer: TrueDifficulty: Mode
12、rateEssay/Problems1. Discuss the role of cycle inventory in the supply chain.Answer: The primary role of cycle inventory is to allow different stages in the supply chain to purchase product in lot sizes that minimize the sum of the material, ordering, and holding cost. If a manager were considering
13、the holding cost alone, he or she would reduce the lot size and cycle inventory. Economies of scale in purchasing and ordering, however, motivate a manager to increase the lot size and cycle inventory. A manager must make the trade-off that minimizes the total cost when making the lot sizing decisio
14、n. Ideally, cycle inventory decisions should be made considering the total cost across the entire supply chain. In practice, however, each stage often makes its cycle inventory decisions independently. As we discuss later in the chapter, this practice increases the level of cycle inventory as well a
15、s the total cost in the supply chain.Any stage of the supply chain exploits economies of scale in its replenishment decisions in the following three typical situations:1. A fixed cost is incurred each time an order is placed or produced.2. The supplier offers price discounts based on the quantity pu
16、rchased per lot.3. The supplier offers short-term discounts or holds trade promotions.Cycle inventory exists in a supply chain because different stages exploit economies of scale to lower total cost. The costs considered include material cost, fixed ordering cost, and holding cost. The supply chain operation phase operates on a weekly or daily time horizon and deals with decisions concerning individual customer orders.Difficulty: Hard1。讨论的作用，供应链中的库存周期。答：主要作用是使库存周期不同阶段的供应链采购产品在许多
