13. What type of supply chain strategy is more appropriate for products that have short product life cycles and high profit margins? a. Market responsive supply chain b. Physically efficient supply chain C. d. It depends on other entities in the supply chain It depends on the focal firm in the supply chain 14. Safety stock inventory is _ a. equivalent to the EOQ b. in transit from one location to another C. d. used to absorb uncertainty in customer demand used to fulfill all customer demand 15. The phases of project management include a . scheduling, control, starting, and ending b. planning, scheduling, control, and closing C . designing, sequencing, scheduling, and control d. planning, scheduling, starting, and ending Bonus Questions (Questions 16 -18) 16. When a firm uses supplier A to supply a family of parts to one business division and uses supplier B to supply a similar family of parts to a different business division, this is called a. a single sourcing approach b. a cross sourcing approach C. a dual sourcing approach 17. It is always possible to choose a value of 'a' such that the exponential smoothing method performs the same as the naive method. a. True b. False 18. Suppose that a company uses the continuous review system to manage its inventory. Which aspect(s) of their inventory management strategy could change based on the lead time of their supplier? a. Target-stock level b. Re-order point c. Order quantity d. Both (a) and (b) e. Both (b) and (c) 4/10