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Which of the following is essential to effective implementation of just-in-time?
Which of the following is essential to effective implementation of just-in-time?A . Regular machine changeoversB . Larger warehouse for larger amount of inventoryC . No need for smoothing productionD . Strong links between the suppliers and the buying organisationView AnswerAnswer: D Explanation: For JIT manufacturing to succeed, companies must have...
Overall inventory turnover
Overall inventory turnoverA . 2 and 4 onlyB . 1 and 4 onlyC . 2 and 3 onlyD . 1 and 3 onlyView AnswerAnswer: C Explanation: ABC analysis is applied to stock and its management. It is based loosely on the Pareto principles, better known as 80/20 rule. Pareto principle...
Which of the following best describes category 'A' in ABC analysis in inventory management?
Which of the following best describes category 'A' in ABC analysis in inventory management?A . Items that represent approximately 15% of total valueB . Items with low uncertaintyC . Items with high valuesD . Items with high uncertaintyView AnswerAnswer: C Explanation: ABC classifications are applied to stock and its management...
Raw materials
Raw materialsA . 1 and 3 onlyB . 2 and 4 onlyC . 1 and 2 onlyD . 3 and 4 onlyView AnswerAnswer: B Explanation: Raw materials are basic input materials - they are only processed limitedly or have not been processed at all. Their values are equal to acquisition...
The amount of inventory available at the start of an accounting period is known as...?
The amount of inventory available at the start of an accounting period is known as...?A . Buffer stockB . Work-in-progressC . Opening stockD . Closing stockView AnswerAnswer: C Explanation: Opening stock is the starting amount of inventory that a business has at a fixed moment in time. This could be...
Which of the following best describes the relationship between a service level and safety stock?
Which of the following best describes the relationship between a service level and safety stock? A. A safety stock is not always required to achieve a required service level B. A service level decreases in proportion to a decrease in safety stock C. When safety stock is zero the service...
Which of the following allow the operators to access higher levels in warehouse facility? Select TWO that apply:
Which of the following allow the operators to access higher levels in warehouse facility? Select TWO that apply:A . CarouselB . GrabC . Order pickerD . Scissor platformE . Stacker craneView AnswerAnswer: C, D Explanation: It is important to ensure safe working in storage facilities, and access to higher shelves...
In ABC analysis, category C is also known as...?
In ABC analysis, category C is also known as...?A . Indirect spendB . Long tail spendC . Direct spendD . Capital expenseView AnswerAnswer: B Explanation: Tail Spend is derived from ABC Analysis, Class A high value suppliers, Tail Spend is formed from class B & C suppliers, equates to 20%...
With D is the annual demand (units), S is cost per order, H is annual carrying cost per unit; the formula for Economic Order Quantity is....?
With D is the annual demand (units), S is cost per order, H is annual carrying cost per unit; the formula for Economic Order Quantity is....?A . √(D*S/2H)B . √(2D*S/H)C . √(D*S*H)D . √(D*S/3H)View AnswerAnswer: B Explanation: LO 2, AC 2.3
This is an example of...?
A brewery sells its beer in aluminum cans. It recycles the cans by using contractors to collect and mold the used cans. This is an example of...?A . Closed-loop recyclingB . Carbon recyclingC . Open-loop recyclingD . ReuseView AnswerAnswer: A Explanation: There are two main processes of recycling C open...
