13-Suppliers for a JIT supply chain are generally chosen by Competitive bidding among the widest possible number of suppliers. b. Long-term relationships with a limited number of suppliers Short-term contracts with revolving suppliers. d. a. Open bidding for flexibility supported by frequent inspection of incoming shipments. 14- The inventory management system discussed in class where inventory is stored in two locations with the quantity in the second location equal to the demand during lead time is called safety stock system hidden inventory system two-bin system b. c. d. modified MRP 15- The inventory management system where we receive orders on a regular schedule but the quantity received varies is called EOQ/ROP b. Single Period Model a. Economic Lot Size C. d. Fixed-Period System 16- Which of the following is NOT a component of holding cost purchase price b. inventory shrinkage a. risk of obsolescence c. d. insurance 17- The in-class demonstration of JIT vs traditional manufacturing, showed that changing from a push system to a pull system a. reduced the production rate of the line b. decreased the idle time at all stations reduced inventory without reducing output d. required increased attention by the supervisor C. 18- Purchase order lead time is multiplied to number of units is sold per unit of time to calculate. carrying costs relevant total costs economic order quantity reorder point a. b. C. d. 19- Computer-based information system that translates master schedule requirements for end items into time-phased requirements for sub-assemblies, components, and raw materials is the definition of ERP a. b. MRP c. EOQ d. SAP does