Quiz 2 - Winter 16_Solution - Type-A IE 7315 PRODUCTION...

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Type-A IE 7315 – PRODUCTION SYSTEMS Name: Quiz-2, Date: 02-02-16 , Time: 10 Minutes Banner ID: A. True or False. Answer all. (10 points) 1. For an EOQ model, the annual holding and ordering costs are the same at the optimal order quantity. True 2. The Wagner-Whitin model uses Linear Programming for solving the dynamic lot sizing problem. False 3. Under the Wagner-Whitin model, it is never optimal to bring some inventory into the period and also produce in the same period . True 4. Dynamic lot sizing models are popular in particular for their ability to produce level production schedules. False 5. Newsvendor model is designed for inventory management for individual selling seasons and can handle non-linear overage and underage costs.
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