Price competition is often severe and profits start to decline, in which phase of the life cycle of a product?

• A.Introduction phase
• B.Growth phase
• C.Decline phase
• D.Maturity phase

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Providing a routine method for regularly updating item forecasts is known as:

• A.Regular smoothing
• B.Stable trend smoothing
• C.Exponential smoothing
• D.Steady smoothing

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In the above question, if the work-in-process could be reduced to 7 weeks and the annual cost of carrying inventory was 20% of the inventory value, what would be annual saving?

• A.$ 90,000
• B.$ 60,000
• C.$ 70,000
• D.$ 80,000

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In some industries, is the only strategy that can be followed. Farmers, for instance, must produce in the growing season. The post office must process mail over the Christmas rush and in slack seasons. Restaurants have to serve meals when the customers want them. These industries cannot stockpile or inventory their products or services and must be capable of meeting demands as it occurs.

• A.Chase strategy
• B.Subcontracting
• C.Resource Planning
• D.Production leveling strategy

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If the beginning projected available balance is 100 units, the forecast is 40 units, and customer orders are 50 units, the ending projected available balance is:

• A.50
• B.60
• C.40
• D.30

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