5 QUESTIONS WITH CHOICES 

1. It comprises a linear objective function along with some limitation constraints constructed by

continuous and integer variables.

ANSWER - (A. Mixed Integer Linear Programming)

A. Mixed Integer Linear Programming

B. Stochastic Modeling 
C. Uncertainty Modeling 
D. Optimization Models

2. It represents data or predicting outcomes in situations where there is randomness or

unpredictability to some extent.

ANSWER- (C. Stochastic Modeling) 

A. Optimization Models 
B. Mixed Integer Linear Programming
C. Stochastic Modeling 
D. Bi-Level Optimization 

3. This modeling strategy helps in predicting the result of this process with some defined error rate
by considering the unpredictability of these factors.

ANSWER- (D. Stochastic Modeling) 

A. Bi-Level Optimization 
B. Optimization Models 
C. Role of Inventory
D. Stochastic Modeling

4. is a mathematical modeling approach used to get the best outcome of a system with some
restrictions.

ANSWER: (B. Mixed Integer Linear Programming)

A. Bi-Level Optimization 
B. Mixed Integer Linear Programming 
C. Stochastic Modeling 
D. Uncertainty Models 

5. There are many instances where we see the concept of collaborative relationship being marked as
the essence of supply chain management.
ANSWER: (A. Role of Inventory) 

A. Role of Inventory 
B. Stochastic Modeling 
C. Bi-Level Optimization 
D. Uncertainty Models

                                                                TRUE OR FALSE 

1. Many strategies are developed with the objective of streamlining inventories beyond the supply
chain and holding the inventory investment as low as possible.

ANSWER - TRUE 

2. The supply chain managers tend to maintain the inventories as low as possible because of
inventory investment.

ANSWER - TRUE 

3.Is  the Mixed Integer Linear Programming (MILP) supply chain are those models that codify the
practical or real-life issues into mathematical model? 

ANSWER - FALSE 

4. The Mixed Integer Linear Programming (MILP) This model is broadly used in many optimization
areas such as production planning, transportation, network design, etc.

ANSWER - TRUE 

5. Is The Mixed Integer Linear Programming (MILP), The main objective of this model is to get an
optimal solution of the objective function.

ANSWER - TRUE 

6. Stochastic modeling is a mathematical approach of representing data or predicting outcomes in

situations where there is randomness or unpredictability to some extent.

ANSWER - TRUE 

7. Is it Stochastic Modeling are responsible for using a realistic modeling approach, the system has to
take uncertainties into account. 

ANSWER - FALSE 
8. Is it part of Bi-Level Optimization improving these optimal methods to compute an optimal
solution for real problems as well?

ANSWER - TRUE 

9. A The Mixed Integer Linear Programming, arises in real life situations whenever a decentralized
or hierarchical decision needs to be made.

ANSWER - FALSE 

10. Stochastic Modeling is a part of the manufacturing process generally has some unknown
parameters like quality of the input materials, reliability of the machines and competence within the
employees? 

ANSWER - FALSE 

                                                         FILL IN THE BLANKS 

1. __________________ is a mathematical approach of representing data or

predicting outcomes in situations where there is randomness or unpredictability to some extent.

ANSWER - A. STOCHASTIC MODELING

A. Stochastic Modeling
B. The Mixed Integer Linear Programming 
C. Bi-Level Optimization 
D. Optimization Models

2. A ____________________ arises in real life situations whenever a decentralized or

hierarchical decision needs to be made. In these types of situations, multiple parties make decisions
one after the other, which influences their respective profit.

ANSWER - B. BI-LEVEL OPTIMIZATION 

A. Optimization Models 
B. Bi-Level Optimization 
C. Stochastic Modeling 
D. The Mixed Integer Linear Programming 

3. _____________________ of supply chain are those models that codify the practical or real life
issues into mathematical model. The main objective to construct this mathematical model is to
maximize or minimize an objective function.
ANSWER - D. OPTIMIZATION MODELS 

A. The Mixed Integer Linear Programming 

B. Bi-Level Optimization 
C. Stochastic Modeling 
D. Optimization Models 

4. There are instances where efficiency in supply chain can be ensured by efficiencies in
___________, to be more precise, by maintaining efficiency in inventory reductions.

ANSWER - A. INVENTORY 

A. Inventory
B. Management
C. Liability 
D.  Manager 

5. The _____________________ related with owning inventories can be high.

ANSWER - D. COST OR INVESTMENT 

A. Cost 
B. Inventory 
C. Liability 
D. Cost or Investment