With Regard to a Simulation Model for Inventory Management, All

question 28

Multiple Choice

With regard to a simulation model for inventory management, all of the following are correct EXCEPT:

• A) it results in an optimal solution with a large simulation.
• B) many days of simulation run are needed to obtain meaningful results.
• C) lead time can vary.
• D) it assumes that a specific reorder point and order quantity have been selected.

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Definitions:

Dominant Action

The primary or most influential action in a series of movements or decisions, often leading or setting a precedent.

Cognitive Development

The process by which a person's ability to think, reason, perceive relationships, and solve problems emerges and evolves over time.

Sensorimotor

A stage in Piaget's theory of cognitive development where infants learn to interact with their environment through sensory experiences and motor actions.

Formal Operations

The stage in Piaget's theory of cognitive development (typically beginning at age 12) where individuals can think abstractly and reason logically.