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Inventory And Production Management Quiz 2 (25 MCQs)

Quiz Instructions:

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1. One of the problems of insufficient stock is:
2. An example(s) of inventory management system(s) include
3. What is meant by availability control?
4. Inventory management relate to _____ ?
5. What is inventory management?
6. What is the name of materials used in the production process that do not become part of the product?
7. Inventory management helps businesses be successful _____ It requires the understanding of
8. What key aspect of inventory is focused on how much of each inventory item can be suitably housed and where to send it?
9. What key aspect of inventory is focused on how much stock is needed to satisfy demand over an upcoming time period?
10. Those items on which all manufacturing operations, including final test, have been completed.
11. The amount ordered from time period to time period.
12. Managing purchases includes _____
13. Managing purchases may include _____
14. Gives a mechanism for initiating and controlling the flow ofmaterials through a supply chain.
15. Which one is NOT part of inventory holding cost
16. Purchasing additional stock of products that sell more in certain seasons is:
17. Which of the following statements is not a common reason for holding inventory in organisations?
18. The risk of providing a lot of material is
19. This includes warehousing costs such as rent, utilities and salaries, financial costs such as opportunity cost, and inventory costs related to shrinkage (leakage) and insurance
20. A company has 9, 000 units on hand and the annual usage is 48, 000 units. There are 240 working days in the year. What is the number of days supply?
21. The form a buyer sends to a vendor to officially place an order is a(n):
22. A type of fixed order quantity model that determines the amount of an item to be purchased or manufactured at one time.
23. Actual buying of Products
24. Stands for FIRST In, Still Here
25. _____ involves reviewing your sales objectives, then making purchasing decisions.
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