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Inventory And Production Management Quiz 3 (25 MCQs)

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1. Loss of inventory for any raeson including damage, theft, or expiration.
2. Those stocks or items used to support production (raw materials and work-in-process items.
3. The act of holding and handling goods in a ware-house is _____ ?
4. Lead time is determined by which one of the following:
5. How often should a physical inventory be conducted?
6. Among different types of costs associated with inventory, the costs of obtaining purchase approvals are _____
7. What are the typical measures of inventory commitment?
8. The activities and techniques of determining the desired levels of items.
9. What is the amount deducted from the selling price for pay-ment within a specified time period, such as 10 days?
10. The main purpose of establishing a reorder point is to:
11. An inventory valuation method that assumes stock that was purchased first , is also the first to be sold.
12. A check used to move merchandise quickly to the sales floor is known as:
13. What process does Toyota use to ensure inventory efficiency?
14. The total time it takes from placing an order to receiving the order is known as:
15. What key aspect of inventory is focused on quickly and efficiently book-in, put away, pick, pack and ship inventory as and when needed at your various locations?
16. What is the function of inventory control?
17. Which inventory method would be best used by someone selling dairy products to manage and evaluate inventory?
18. When purchasing _____ are critical
19. Set up costs are analyse to which one of these costs
20. A good match for a vendor has _____
21. Stock losses will result in _____
22. Goods in various stages of completion throughout the plant.
23. What is the time period required from the request for goods to be received and ready for use?
24. An inventory control system that uses computer chips attached to inventory items to track inventory is:
25. What are the negative impacts of inventory procurement?
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