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Inventory And Production Management Quiz 7 (22 MCQs)

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1. Among different types of costs associated with inventory, the opportunity cost of the investment tied up in inventory is a(n) _____
2. General term for the activities that deliver finished goods to customers
3. A blending of interactive digital elements like dazzling visual overlays or other sensory projections is accomplished through:
4. Calculate how much is the pharmacy's margin if using a selling factor of 1.25?
5. Keeping a minimal amount of production materials or sales inventory on hand at all times is known as:
6. The average distance between each data value and the mean.A way to describe the variation in a data set.
7. Dependent demand is
8. More oriented to building long-term relationshipswith fewer, but more dependable suppliers.
9. _____ is a target inventory of what you think youwill need to keep in stock.
10. How many method under quantity discount?
11. Act of working effectively with others to achieve a common goal
12. A count of all product that has completed the manufacturing process and is ready to be shipped or sold.
13. A factor involved in the cost of inventory that is outdated is considered:
14. Types of inventory
15. The time from when an order is placed to when it is received by the customer is known as:
16. Costs incurred because goods/materials are in inventory are called
17. The process of buying and storing materials and products while controlling costs for ordering, shipping, handling, and storage is known as:
18. An inventory item
19. A system for inventory management would be
20. Inventory management _____
21. Given the information below;D-4000 per yearHC-RM 9 per yearSetup cost-RM25Lead time-5 daysWorking days per year-250 daysCalculate EOQ, ROP and Average Q. Choose the right answer.
22. This refers to items that the manufacturer has purchased or produced to use in manufacturing a product.
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