This quiz works best with JavaScript enabled. Home > Inventory Production > Inventory And Production Management > Inventory And Production Management – Quiz 9 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Inventory And Production Management Quiz 9 (15 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. More oriented to building long-term relationshipswith fewer, but more dependable suppliers. A) Contemporary procurement. B) Traditional procurement. C) Traditional Purchasing. D) Contemporary purchasing. Show Answer Correct Answer: D) Contemporary purchasing. 2. ..... is a target inventory of what you think youwill need to keep in stock. A) Vendors. B) Target inventory. C) Model inventory. D) Money. Show Answer Correct Answer: C) Model inventory. 3. How many method under quantity discount? A) 2. B) 3. C) 1. D) 4. Show Answer Correct Answer: A) 2. 4. Act of working effectively with others to achieve a common goal A) Taxable income. B) Supply chain management. C) Collaboration. D) Employment. Show Answer Correct Answer: C) Collaboration. 5. A count of all product that has completed the manufacturing process and is ready to be shipped or sold. A) Inventory Shrinkage. B) Safety Stock. C) Stock Keeping Unit. D) Finished Goods Inventory. Show Answer Correct Answer: D) Finished Goods Inventory. 6. A factor involved in the cost of inventory that is outdated is considered: A) Obsolence. B) Back order. C) Seasonality. D) Finished Good. Show Answer Correct Answer: A) Obsolence. 7. Types of inventory A) Raw Material. B) Work in Process. C) Finished Products. D) All of the above. Show Answer Correct Answer: D) All of the above. 8. The time from when an order is placed to when it is received by the customer is known as: A) Delivery time. B) Lead time. C) Wait time. D) Dispatch time. Show Answer Correct Answer: B) Lead time. 9. Costs incurred because goods/materials are in inventory are called A) Save Cost. B) Insurance fee. C) Cost of Capital. D) Tax costs. Show Answer Correct Answer: A) Save Cost. 10. The process of buying and storing materials and products while controlling costs for ordering, shipping, handling, and storage is known as: A) Distribution. B) Inventory management. C) Supply chain. D) Material Handling. Show Answer Correct Answer: B) Inventory management. 11. An inventory item A) Stock Keeping Unit. B) Safety Stock. C) Usage. D) Finished Goods. Show Answer Correct Answer: A) Stock Keeping Unit. 12. A system for inventory management would be A) Throwing everything in a random spot. B) Being unorganized. C) Material grouping. D) None of the above. Show Answer Correct Answer: C) Material grouping. 13. Inventory management ..... A) Improves cash flow. B) Keeps your inventory organized and accounted for. C) Helps save on storage costs. D) All of the above. Show Answer Correct Answer: D) All of the above. 14. 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. A) 149.07, 80, 74.55. B) 148.07, 80, 75. C) 146.07, 80, 80. D) 145.08, 79.90, 76. Show Answer Correct Answer: A) 149.07, 80, 74.55. 15. This refers to items that the manufacturer has purchased or produced to use in manufacturing a product. A) Raw material inventory. B) Work in process inventory. C) Finished good inventory. D) None of above. Show Answer Correct Answer: A) Raw material inventory. ← PreviousRelated QuizzesInventory Production QuizzesInventory And Production Management Quiz 1Inventory And Production Management Quiz 2Inventory And Production Management Quiz 3Inventory And Production Management Quiz 4Inventory And Production Management Quiz 5Inventory And Production Management Quiz 6Inventory And Production Management Quiz 7Inventory And Production Management Quiz 8 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books