Vision Toys Uses a Fixed-Quantity System to Manage Its Inventories

question 7

Multiple Choice

Vision Toys uses a fixed-quantity system to manage its inventories. The inventory includes plastic and LED bulbs. It was observed that the company often faces stockout of plastic. The average weekly demand for plastic is 100 pounds, and historical data show that the standard deviation of weekly demand is about 7. The lead time from the plastic supplier is 2 weeks. If the company's acceptable service level is 95 percent and the number of standard deviations necessary to achieve the acceptable service level is 1.645, the reorder point for plastic with safety stock is:

• A) less than or equal to 125 pounds.
• B) more than 125 pounds but less than or equal to 175 pounds.
• C) more than 175 pounds but less than or equal to 225 pounds.
• D) more than 225 pounds.

Understand the anatomy and functional mechanism of the olfactory system.

Describe the process and importance of cell replacement in gustatory and olfactory tissues.

Recognize the linkage and interaction between olfaction and gustation senses.

Acknowledge the impact of illnesses on the senses of taste and smell.

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Definitions:

Differentiated Product

A product that is distinguished from similar products in the market by unique characteristics or features, often leading to brand loyalty.

Horizontal Demand Curve

Represents a situation in economics where the demand for a good is extremely sensitive to changes in price, indicative of perfect elasticity.

Oligopolist

A company operating within an oligopoly market structure, where a small number of firms have a large majority of market share and can influence prices and competition.

Non-price Competition

A strategy by businesses to attract customers through methods other than lowering prices, such as quality improvement, marketing, or product differentiation.