recap apics 2011 international conference frank hernandez brandon holt scott wilson sahir jafri...

Recap APICS 2011 International ConferenceFrank Hernandez

Brandon HoltScott Wilson

Sahir Jafri

Sponsored By:

Education• Jim Donald (Former CEO of Starbucks & Wal-Mart)

– The 6 secrets to success.

• Alan Milliken (BASF Corporation)– Creating Competitive Advantage with your existing

Data

• Resume and Interview Tips• Reporting Sustainability: G3

Connections/Competitions

• Head of the Class• Scavenger Hunt• Mid-Atlantic Case Competition

Met with the Operations Management Students from across North America

Yes, even Canada.

Research

Career/Networking• Over 60 Trade vendors• Numerous Operations Departments

– Duquesne University,– ASU– Michigan State University

• Career Fair– Caterpillar Logistics– Eaton– PriceWaterhouseCoopers

APICS Intl. Conference 2012 – Denver, Colorado

APICS Head of the Class Competition

APICS Head of the Class Competition Game Rules

How to start:• Each Player will have 2 cards • Card one will have A (true) on one side

and B (false) on the other side • Card two will have C on one side and D

on the other) for use in answering questions.

How to play:

• Everyone must stand

• Once a question is asked you must hold up the appropriate card. • The card must face the front of the room

• The card must be held above your head and once it is above your head that is your final answer and it can’t be changed.

• You will have 20 seconds to answer each question with a 5 second warning.

…Rules Continued

• In each round a maximum of fifteen questions will be asked. The questions will relate to the operations/supply chain management field

…Rules Continued

• If you answer the question wrong you must sit down and if you answer the question right you will remain standing.

• Questions will continue to be asked until there are less than five people left standing or until we have asked the maximum amount of questions for that round.

…Rules Continued

• The winners from the first, second and third rounds will advance to the final round.

• The final round will be process of elimination.

…Rules Continued

Are You Ready to Begin?

APICS Head of the Class CompetitionQuestions

Finding out who performs a particular process best and learning from it is an example of:

a. continuous improvement

b. benchmarking

c. serviceability

d. empowerment


Quality certification refers to a process of 100 percent inspection to catch all defective products before they leave the company

True

False


Which of the following statements is true?

a. As long as the process is within the control limits, it is in control.

b. Variable data is used in the construction of a P-Chart

c. A reduction in the variation of a process is an indication the process has improved

d. Every process has a natural variation that can be entirely eliminated


Using the EOQ model, the higher an item's carrying costs, the more frequently it will be ordered.

True

False


Which of the following is exhibited by all forecasting data and results?

a. Randomness

b. Seasonality

c. Trend

d. Cycles


The basic purpose of supply chain management is to: a. create an exclusive set of suppliers who will not

supply your competitors

b. reduce your firms inventory level through the proper selection of customers and suppliers

c. synchronize the operations of all suppliers with those of purchasing, production, distribution and customers

d. coordinate purchasing and distribution activities in order to maximize your firms revenues


Which of the following is most true of cycle counting?

a. requires the checking of many items a few times during the year

b. requires the checking of every item many times during the year

c. it is used to identify and remove the root causes of errors in inventory records

d. it is applied to all inventory items once a year


Approximately 99.7% of sample means will fall within ± two standard deviations of the process mean

True

False


An assembly line is more appropriate for:

a. high volume, low variety production

b. large projects

c. customized products

d. none of the above


Just-In-Time systems make demands on layouts, including:

a. distance reduction

b. increased flexibility of equipment

c. cross-trained, flexible employees that can easily move to new work areas

d. all of the above are JIT influences on layout


Product storage is an example of waste, in the sense that no value is added.

True

False


In an inventory management system Service Level is:

a. the probability demand will not always be satisfied during the ordering lead time

b. the probability that demand is met from inventory

c. the percentage of time during lead time that demand is not satisfied



In the chase strategy of aggregate production planning, variations in demand cannot be absorbed by which of the following?

a. subcontracting

b. hiring/layoff

c. inventory/backordering

d. overtime/undertime


What are two of the main principles of MRP?

a. capacity equals demand and planned orders equals net requirements

b. low level coding and BOM coding

c. time phasing and netting of requirements

d. time phasing and low level coding


The phrase “demand derived from the demand for other products” describes:

a. independent demand

b. dependent variable

c. dependent demand

d. recursive demand


“Preventive maintenance” is extra-special maintenance done after a breakdown has occurred to prevent any further breakdowns.

True

False


A Master Production Schedule contains information about:

a. quantities and required delivery dates of final products (the build schedule)

b. quantities and required delivery dates of all sub-assemblies

c. inventory on hand for each final product

d. inventory on hand for each sub-assembly


The greatest advantage of applying the “unit load” concept is:

a. It is environmental friendly

b. It simplifies handling, movement, and transportation

c. It is value to companies that deal with small products

d. Mechanical devices can be substituted for manual labor


Less-than-truckload (LTL) carriers:

a. Serve only regional markets

b. Operate through a series of terminals

c. Are exempt from hours-of-service regulations

d. Carry the shipment directly from the shipper to the consignee


A “free trade zone” refers to:a. An area that is home to businesses that are owned and operated by large concentrations of a particular ethnic group

b. An area in which products can be stored, exhibited, or processed without being subjected to duties and quotas unless they enter the

customs territory of the zone country

c. An area in which the federal government disregards all import and export quotas for products coming from, or destined to, “favored” nations

d. An area outside of the legal jurisdiction of federal, provincial or municipal governments where companies are free to do what they will


Which of the following is the most effective way to improve warehouse worker productivity?

a. Adding additional rules to dictate how each operation is to be done

b. Provide materials handling equipment to replace heavy manual labour

c. Install video cameras so that you can watch workers from your office

d. Manage by randomly walking the warehouse area and intimidating any worker you feel is not working hard enough


Data mining:

a. Is illegal in Quebec

b. Is synonymous with margin analysis

c. Looks for patterns and relationships in relevant data

d. Can only be done using advanced software systems


The purpose of safety stock is to:

a. Eliminate the possibility of a stockout

b. Eliminate the likelihood of a stockout due to erroneous inventory records

c. Control the likelihood of a stockout due to the variability of demand during lead time

d. Replace failed units with good ones


When ordering materials where quantity discounts are available, the most cost-effective solution:

a. Is to order the EOQ amount

b. Minimizes the sum of holding and ordering costs

c. Minimizes the sum of holding, ordering, and product costs

d. Minimizes the unit purchase price


The basic goal of aggregate planning is to balance:

a.a. capacity and demand

a.b. capacity and costs

a.c. capacity and inventories

a.d. demand and backorders


ABC analysis is based on the principle that:

a. All items in inventory must be monitored very closely

b. There are usually a few critical items, and many items that are less critical

c. An item is critical if its usage is high

d. An item is critical if its unit price is high


Firms in a responsive supply chain are expected to have:

a. long delivery times

b. high inventory investments

c. low capacity cushions

d. flexible purchasing, production and distribution systems


Which of the following is not a major input to the capacity requirements planning process?

a. The planned order releases from the MRP

b. A routing file specifying machines or work centres required to complete an order

c. A load profile for each work centre in the process

d. An open order file showing status of in-process jobs


Which statement is best?

a. The largest element of manufacturing lead time is queue

b. The larger the load, the longer the queue

c. If queue is reduced, the lead time and work-in-process will be reduced

d. All of the above are true


The cost of stopping a production line to fix a quality problem is an example of a(n):

a. Quality appraisal cost

b. Quality prevention cost

c. External failure quality cost

d. Internal failure quality cost


As waste is removed from daily operations a. Productivity increases

b. Inventory increases

c. Cycle Time increases

d. All of the above


Which of the following is not one of the elements in Lean Operations?

a. Multi-functional workers

b. A limited number of suppliers

c. Scheduling production to maximize the output of all work centers

d. Striving to reduce machine set-up times


What type of production process would be appropriate for a company that builds specialty machine tools to match the customer’s specifications?

a. project shop

b. continuous

c. job shop



In Six Sigma Quality Systems, the letters DPMO mean:

a. Defects Produced by Manufacturing Operations

b. Defects Per Multifunctional Operator

c. Defects Per Million Opportunities

d. None of the above


Process analysis can be applied to functions other than operations and supply chain management.

True

False


The cost of Operations and Supply Chain Management activities primarily appear:

a. as an item on a company’s Balance Sheet.

b. as an item in a company’s working capital analysis.

c. as Cost of Goods Sold or Cost of Sales in a company’s income statement.

d. after Gross Profit in a company’s income statement


Companies should focus on process improvement activities, of their critical processes, in order to lower costs, improve quality, or both. In most cases, the best first step is to implement computer controlled automation so that the process can run faster to reduce per unit cost.

True

False


Acme Products ships 75% of all orders “on-time” (which means, by the customers’ original request date). When customers call-in to follow-up on late shipments, Acme almost always manages to get the late shipment our within 24 hours. From these facts, it is safe to assume that Acme’s operations are effectively managed.

True

False


Effective, contemporary management of the supply chain is best described as

a. going for the lowest invoice price

b. managing the network of suppliers and customers as a combined system

c. focusing on individual transaction points

d. independently optimizing each link in the chain


Just-In-Time is a “push” system rather than a “pull” system.

True

False


The supply chain management concept would say that the evaluation of cost should include:I. Invoice priceII. Implications of late deliveryIII. Implications of poor supplier quality

a. I and II onlyb. I and III only

c. II and III only d. I, II, and III


Which of the following pairs of terms best complete the following sentence?Under the concept of total quality management, increased focus on ________________ can minimize the need for ________________.

a. process improvement; final inspection

b. product design; process design

c. process design; product design

d. final inspection methods; process design


The JIT/Lean philosophy is best described by which of the following?

a. management system of people and procedures to fulfill all delivery deadlines

b. materials management system for removing all inventories

c. integrated system of managing resources, information, and decision processes to eliminate waste.

d. management system that pushes inventory back to suppliers.


What are the costs being included in the total cost concept for logistics?

a. Inventory Carrying Cost and Warehouse Cost

b. Lot Quantity Cost

c. Order Processing and information costs

d. all of the above


Bill of materials (BOM) components are variable costs

False

True


One source of disruption caused by the external supply chain is:

a. product or sales promotions

b. late deliveries

c. new product or service introductions

d. engineering changes


The Business Plan, Financial Plan and Market Plan are combined to produce the:

a. Final Assembly Schedule

b. Master Production Schedule

c. Production Plan

d. Materials Plan


Which of the following plans has the longest planning horizon and the least amount of detail?

a. business plan

b. production plan

c. master production schedule

d. all the above have the same level of detail


A statement of a schedule of requirements for individual end items is called:

a. master production schedule

b. material requirements plan

c. a production plan



For the purposes of production planning, product groups should be established on the basis of:

a. market segments

b. similarity of manufacturing process

c. the availability of materials

d. all the above


Which basic production planning strategy will build inventory and avoid the costs of peak capacity?

a. demand matching

b. production leveling

c. subcontracting

d. available to promise


If the opening inventory is 100 units, the sales are 300 units and the ending inventory is 200 units then manufacturing must produce:

a. 300 units

b. 400 units

c. 500 units



What important assumption is made about statistical (quantitative) forecasting methods?

a. the past is a valid indicator of the future

b. demand trend is seldom linear

c. seasonal variations are small

d. random variations are small


Assuming the cost per order is constant, increasing the order quantity will cause annual ordering costs to:

a. decrease

b. increase c. remain the same d. increase at a decreasing rate


Quantity Discounts cause companies to:

a. Order sooner

b. Order less at a time

c. Increase their inventory

d. Increase ordering costs


One of the success factors for Zara is postponement.

False

True


The triple bottom line refers to:

a. Growth, market share, profit

b. Profit, environmental, social

c. Profit, profit, profit

d. Capital, expense, revenue


An advantage of having multiple suppliers is:

a. Buying components which are patented

b. Reliable Just-in-Time deliveries

c. Reduced invoicing

d. Reliability of supply


Having a very low inventory is always good for the Supply Chain.

False

True


It is always necessary to have less vendors

False

True


If a company always sends goods in full truck loads, is it a good practice

True

False


A job shop making very different types of products on a set of machines has a very high utilization. Which of the following also will be true

a. Product lead times will be high

b. Product cost will be low

c. Quality of output will be high

d. Production activity will be stramlined


A manufacturer took the following steps to reduce inventory. Which one is NOT a JIT action?

a. they required deliveries directly to the point of use

b. they worked to reduce in-transit inventory

c. they picked the supplier that offered volume discounts

d. they produced in ever smaller lots


High utilization generally means more WIP

True

False


For very good shipping ports the targeted utilization is only 60%. Higher utilization is avoided as;

a. It could cause equipment and labor fatigue

b. It could drastically increase the time ships have to wait to get a berth

c. It could create confusion and mixing of unloaded goods

d. It could reduce the ability of the port officials to verify the nature of shipments


Increasing the speed of trains ensures that more trains can run on the same railway infrastructure

True

False

APICS Head of the Class Competition Questions

Just-in-Time inventory management is a system that focuses on:

d. b & cc. Reducing set-up times.b. Reducing lot sizes.a. Holding inventory at suppliers until needed.


A Just-in-Time inventory management system may produce results superior to MRP/ERP because:

a. It is less dependent of accurate bills of material.b. It is less dependent on accurate inventory records.c. It is less dependent of accurate sales forecast.

d. All of the abovee. None of the above


If a vendor is repeatedly late delivering product, the first thing you should do is increase the lead time to reflect the current reality.

True

False


The EOQ calculation must include an adjustment factor if:

a. the ratio of demand to production is very high

d. alwaysc. neverb. the ratio of demand to production is very low


When considering all forms of transportation, the highest “landed cost” will always be air.

True

False


The main objective of the “cycle counting program” is to reconcile the book versus on-hand inventory.

True

False


There are four most important elements in a supply chain. Three of them are: Operations, distribution, and integration; the fourth element is:

a. Transportationb. Manufacturing c. Quality and JITd. Purchasing


Costs associated with field failures, goodwill loss, reputation damage, and warranty are classified as:

b. Transaction costs

d. All of the above

a. Pre-transaction costs

c. Post-transaction costs


In selecting a location, consideration of the territory and quadrant is one of the recommended levels of decisions.

True

False


CRM has made tremendous strides in the past ten years and studies show that companies have been very effective in building customer relations.

True

False


Which type of production process is most suitable for oil refining? a. Batch b. Job Shop c. Assembly Line

d. Flow


Which of the following is NOT a characteristic of Job Shop? a. Produces highly specialized product in low volume on customer-order basis b. Equipment must be flexible enough to change with each new

job

c. Geared towards producing an exact custom product d. Uses a connected line for production & moves the product along the line


Which of the following is NOT an input to Materials Requirement Planning (MRP)?

b. Master Production Schedule (MPS) c. Inventory Record d. Bill-of-Materials (BOM)

a. Net Report


One benefit of using exponential smoothing to forecast demand is that, unlike other moving averages, it does not lag behind data trends.

TRUE

FALSE


The Cycle Counting Program can be discontinued once the firm reaches it accuracy objectives.

False

True


Auditing firms typically allow firms (companies) to discontinue the periodic (annual) inventory, once the cycle count program has demonstrated that the program has reached and maintained an agreed upon minimum inventory accuracy level.

True

False


Which of the following are probable causes of demand variability?

a. Competition from rival companies

b. “No-interest” financing

c. Life cycle of the product

d. All of the above


Time series models are used in __________.

a. Qualitative forecasting

c. Associative forecasting

d. All of the above

b. Intrinsic forecasting


The 5 basic modes of transportation are __________.

a. Rail, Motor, Container, Water, Air b. Rail, Motor , Container, Air, Pipeline

d. Rail, Container, Water, Air, Pipeline

c. Rail, Motor, Water, Air, Pipeline


Which statement below is TRUE about Water and Pipeline mode of transport?

b. Both can carry goods in containers

c. Both can only move through water

d. Both can move fluids overland

a. Both can transport fluids


Inventory is considered a liquid asset on the balance sheet.

False

True


A firm with a positive balance sheet can go bankrupt

True

False


Firm Planned Orders (FPO) are considered WIP

True

False


In which of the cases is moving average a good method to use:

a. Trendb. Seasonsc. Trend and Seasond. Random variation


Among the basic modes of transport, air transport offers the best results in terms of reliability and transit time.

TRUE

FALSE


Which of the following statements is most accurate:

b. Long term forecast must have data of individual product mix

c. Forecasting must always be done by manufacturing function

d. Each department must individually and independently forecast the needs

a. Forecasting is rarely 100% accurate


Which of these is NOT an example of seasonalityin forecasting

a. Heavy rush in the canteen during lunch hoursb. Sale of gifts during Christmas

d. Increased requirement of trucks towards the end of the month

c. Heavy rush of calls during an emergency


Which of these is a limitation of extrinsic regression technique

b. It is mathematically a difficult techniquec. It cannot be used for medium term forecastingd. It will always lag behind the trend

a. It is inaccurate at product mix level


Which of the following is NOT a good practice for data used in forecasting

a. Lost sale data should be accounted forb. Competitor promotions need to be factored in

d. Data can be bought from market research agencies

c. Data has to be aggregated in time buckets of one month (Jan sales, Feb sales, etc)


You should consider changing your forecasting method when:

a. There is an increase in the Mean Absolute deviation

b. There is an increase in Mean square error

d. Method should be reviewed and changed every six months

c. Tracking signal changes to beyond acceptable limits


A firm plans to introduce a new product for which it is unsure of the market acceptability. What would be the ideal layout?

a. Product layout

c. Project layoutd. New product layout

b. Process layout


Product layout would be best suited in which of the following conditions

a. High demand with high product varietyb. Low demand with low product variety

d. Low demand with high product variety c. High demand with low product variety


Which of these is a disadvantage of the product layout?

b. Total lead time is highc. Scrap rate is highd. Highly skilled manpower requirement

a. Capital cost is high


In which of these cases would process layout benefit the most

a. Product in the maturity stage in the product life cycleb. Fast moving consumer goods

c. Product configuration is more important than delivery lead time

d. The cost of manufacturing has to be kept low


All of these are objectives of a good service layout EXCEPT

a. Reduce travel for customers

d. Allow attractive display of merchandise

b. Ensure that the facility does not look empty

c. Provide for privacy in work areas


One cell of a cellular layout would:

c. Have high internal changeover timed. Create higher in process inventory

b. Process similar parts needing similar operationsa. Consist of similar type of machines


Which of these is NOT a factor in selecting the facility layout

b. The variety of products to be made

d. Availability of skilled man power

c. The country of operations

a. Overall manufacturing strategy


Which organization represents suppliers, retailers, industry associations, and wholesalers representing 2.1 Trillion Euros of business annually?a. ECR (Efficient Consumer Response)b. GCI (Global Commerce Initiative)

d. ISM (Institute of Supply Management)c. CGF (Consumer Goods Forum)


Which of the following is the most important component for successful adoption of technology by organizations?a. Training for employeesb. Interoperability for softwarec. Well accepted by the industry

d. Internal agreement on goals to be accomplished using the technology


The term “fishy-back” comprises of ______ modes of transport. a. Sea-air

c. Air-road d. Sea-rail

b. Land-sea-land


Which of the following are advantages of multi-modal transport?

i) Reduced freight rates ii) Speedy transfer iii) Planned and coordinated transport mode

c. All of the aboveb. i & ii

d. None of the answers are correct

a. i only


What does “FEU” stand for?

a. Forwarder equivalent unit

c. Freight equivalent unit d. Foot equivalent unit

b. Forty-foot equivalent unit


Consolidation of different major transport companies is one of the driving forces of multimodal transportation

TRUE

FALSE


Which types of cargoes are usually NOT carried by air mode of transport?

a. Mail b. Medicine c. Fruits d. Liquefied Natural Gas


Basic Cost Trade-Offs method selects the lowest total cost transport mode.

TRUE

FALSE


Air-road combined mode of transport is also known as “birdy-back”

TRUE

FALSE


Master Production Schedule (MPS) is a sales forecast representing a statement of demand.

TRUE

FALSE


The functions of the Master Production Schedule (MPS) over the short term horizon are: I. Planning short term capacity requirements II. Recommending production of components

III. Planning order priorities a. Only I and II c. None of the above b. Only I and III

d. All of the above


Which of the following is NOT an input to Materials Requirement Planning (MRP)?

b. Master Production Schedule (MPS) c. Inventory Record d. Bill-of-Materials (BOM)

a. Net Report


All of the following occur in an MRP process except

b. Adjustment to gross requirements c. Calculation of component requirementsd. Timing of order release

a. Setting of production lead-times


The Master Production Schedule (MPS) should strive to: I. Maintain a balance between scheduled load and available productive capacity over the short term II. Form basis for establishing planned capacity over the long term

a. Only I is correct b. Only II is correct

c. Both are correct

d. Neither I nor II is correct


In order to maximize profit, a company must have all of the following objectives except: a. Best customer service

c. Lowest inventory investment d. Lowest distribution cost

b. Most accurate production forecast


The inventory turns ratio measures: a. the amount of inventory needed to support

sales growth. b. obsolete inventory as a percent of sales. c. how effectively inventory is being used.d. the amount of space needed to store inventory


A company's strategic plan: a. provides the manufacturing plan for families

of end items. b. outlines the sales plan for the next year.

d. outlines new products for the next year.

c. is a statement of goals and objectives for a long range period.


In which of the following manufacturing environments would consumer products, such as film, food, etc. be classified? a. Assemble-to-order b. Engineer-to-order c. Make-to-order d. Make-to-stock


Many different end items are made from a small number of components. What manufacturing environment would this be? a. Make-to-stock

c. Assemble-to-order d. Engineer-to-order

b. Make-to-order


Aggregate inventory management is concerned with: a. managing inventory items and how they are used. b. establishing the production plan.

d. the distribution network and the movement of inventory.

c. the cost and benefits of carrying the different classes of inventory.


Which of the following are objectives of inventory?

I. Maximize customer service II. Efficient transaction III. Low cost plant operations IV. Minimum inventory investment

a. I, II, and III c. I, II, and IV d. II, III, and IVb. I, III, and IV


Which of the following would be included in the cost of carrying inventory?I. Heating and lighting a warehouse II. Obsolete inventory III. Labor to move material IV. Damaged inventory

a. I, II, and III

b. II, III, and IV

c. I, III, and IV d. I, II, III, and IV


A company makes all decisions regarding forecasting and orders centrally for its distribution network. This company is using which of the following systems?

a. Pull system

c. Just-in-Time d. Time phased order point

b. Push system


The Just-in-Time philosophy can be best defined as: a. Delivering goods just before they are needed b. Fulfilling customer orders just as they are needed c. Manufacturing without inventory

d. Elimination of waste


The Toyota Motor Company identified seven sources of waste in manufacturing. Which of the following represent those sources of waste?

I. Process II. Overproduction III. Wait-time IV. Movement

a. I, II, and III b. I, II, and IV

c. II, III, and IV

d. I, II, III, and IV


To achieve necessary quality levels in a JIT environment, quality must be:

b. inspected at multiple points. c. ensured by the quality control lab. d. an inspectors function.

a. built into the product by operators.


In order to reduce the number of transactions which occur in a JIT environment, companies use a system called: a. transaction prevention. b. pre-deduct.

d. bar coding. c. backflushing.


The annual cost of goods sold for a company is $40 million and the average inventory is $10 million. By how much would the inventory need to be reduced to have annual inventory turns equal 20 turns? a. $2 million b. $4 million c. $6 million d. $8 million


A component has a fixed cost of $1,000 and a variable cost of $5.00 per unit to produce. What would the average cost per unit be if the company produces 4,000 units?

a. $5.00 b. $5.10

c. $5.25d. $5.50


Even in an intermittent manufacturing shop, certain JIT principles can be applied. Which of the following principles can be used in an intermittent manufacturing shop? I. Employee involvement II. Total preventive maintenance III. Inventory reduction IV. Continuous flow lines

a. I and III b. II and IV

c. I, II, and III d. I, II, III, and IV


Which of the following manufacturing types would typically have the longest delivery time? a. Make-to-order

c. Make-to-stock d. Assemble-to-order

b. Engineer-to-order


Which of the following statements would be true regarding the delivery time in an engineer to order company? a. Delivery time is shorter than a make-to-order company. b. It would be the same as a make-to-stock item.

d. It would be shorter than an assemble-to-order company.

c. It would be longer than an assemble-to-order company.


An income statement of a company will show which of the following? a. Inventory levels b. Long term debt

d. Net cash available c. Cost of products sold


Which of the following is a reason to maintain inventory?

b. Reduce transportation costs c. Increase machine operating time d. Reduce costs

a. Improve customer service


A supervisor's primary role in a total employee involvement company is: a. controlling. b. cheerleading.

d. quality control. c. coaching.


Conformance can be best described as: a. making the highest quality products.

c. working together as a team. d. flowing product through cells.

b. meeting the specified requirements.


Which of the following best defines the term break even point? a. The point at which a product fails b. Current assets = current liabilities c. Required capacity = available capacity d. Revenues = total costs

recap apics 2011 international conference frank hernandez brandon holt scott wilson sahir jafri...

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