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Inventory And Production Management Quiz 6 (25 MCQs)

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1. An order for a product that is currently out of stock, and so cannot yet be fulfilled for the customer.
2. Inventory management systems can help with _____
3. Inventory models for the replenishment of inventory.
4. Given the following information about a firm's stock levels, what is the reorder level of stocks? -Buffer stock is 100-Lead time is 3 weeks-Stock is used at the rate of 80 units per week-Stock deliveries are 500 units a time
5. Definition of setup costs is:
6. The cost of paying for electricity, included in what cost component?
7. What should you NOT look for in a vendor
8. The higher the turnover rate, the _____ the sales.
9. A ststement of a company's goals and approach to the management of inventories.
10. How many cost of inventories that you know?
11. Which of the following statements is a Component contained in redata?
12. Given EOQ is 250 units, because of customer need to choose the best Total Cost, what is the new EOQ for this formula if the 1st range is ( 1-100 ). Choose your answer below.
13. Damage and shrinkage would most likely be found in which of these costs?
14. What key aspect of inventory is focused on when and how to create purchase orders to re-order new stock?
15. Planning purchases may also include _____
16. Benefit from safety Stock, EXCEPT
17. What is the standard of service attitude of pharmacy employees towards patients?
18. What is an itemized statement of money owed for goods shipped or services rendered.
19. A set inventory level where, if the total stock on hand plus on order falls to, or below that point, action is taken to replenish the stock.
20. The problem of Over Stock is because, except?
21. What is one thing you need to keep in mind when purchasing inventory?
22. _____ is used to find and maintain inventory levels that are neither too small nor too large.
23. _____ is a discount from the list price of an item allowed by a manufacturer to wholesalers and merchants.
24. What do they call an order that is not yet finished or still in process?
25. The total time it takes from placing an order until it is received is known as:
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