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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...
This pricing appendix is an example of...?
In the Appendix A of a long-term supply contract of Bulk Drug Substance, both parties agree that "The reference price for Bulk Product at the specification, per gram, shall be US$10. The unit price for Bulk Product for a specific Purchase Order shall be computed by multiplying the above- specified...
Which of the following is an assumption of economic-order-quantity model?
Which of the following is an assumption of economic-order-quantity model?A . The quantity ordered can vary at each reorder pointB . Demand, ordering costs, and carrying costs are uncertainC . No inventory stockouts occurD . The purchasing cost per unit is affected by the order quantityView AnswerAnswer: C Explanation: Economic...
Which type of codes can a barcode laser scanner (linear scanner) read?
Which type of codes can a barcode laser scanner (linear scanner) read?A . Numerical codeB . QR codeC . Aztec codeD . 1D barcodeView AnswerAnswer: D Explanation: One-dimensional (or 1D) barcodes systematically represent data by varying the widths and spacings of parallel lines. These include some of the most traditional...
Which of the following is NOT an improvement available in ERP II in compare with ERP?
Which of the following is NOT an improvement available in ERP II in compare with ERP?A . ERP II systems are closed and silo-workingB . ERP II enables the organisation to collaborate with trading partners across the supply chainC . ERP II crosses all sectors and segments of business, including...
Which type of cost is GAP targeting?
GAP Ltd is a growing retail business. It spends a lot of money on buying stock for sale. However, the procurement process is still largely manual. This manual process contains a lot of tasks that are repeated for each procurement event and time consuming. The company management team decides to...
The following are examples of scheduled maintenance except...
The following are examples of scheduled maintenance except...A . Oil changes and regular servicingB . Overhauling of machineC . Repair signage damage from a recent stormD . Cleaning of tankView AnswerAnswer: C Explanation: Scheduled maintenance is any repair and upkeep work performed within a set timeframe. It details when given...
Which type of codes can a barcode laser scanner (linear scanner) read?
Which type of codes can a barcode laser scanner (linear scanner) read?A . Numerical codeB . QR codeC . Aztec codeD . 1D barcodeView AnswerAnswer: D Explanation: One-dimensional (or 1D) barcodes systematically represent data by varying the widths and spacings of parallel lines. These include some of the most traditional...
Finished goods
Finished goodsA . 1, 3 and 4B . 1, 2 and 4C . 2, 3 and 4D . 2, 3 and 4View AnswerAnswer: A Explanation: The normal breakdown in a manufacturing organisation would be raw materials, components, work in progress and finished goods. Following are the different types of inventory:...
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...
