L4M7 exam

A hospital is purchasing a new software product that will advise nurses when to give medications to hospitalised patients. This is a mobile application that will be used on tablets carried by the nurses. The software is being developed and tested by a company that specialises in mobile medical applications....

What is the stock turn for a store holding products to the value of £250,000 with annual sales of these products amounting to £1,000,000?A . 10 B. 4 C. 0.25 D. 0.4View AnswerAnswer: B Explanation: Calculating Inventory Turnover (Stock Turn) As with a typical turnover ratio, inventory turnover details how...

To test the product durabilityA . 1 and 2 only B. 3 and 4 only C. 2 and 3 only D. 1 and 4 onlyView AnswerAnswer: C Explanation: It would be really convenient if we could just hand our products directly to the customers, but that’s not possible. Packaging needs...

Which type of codes can a barcode laser scanner (linear scanner) read?A . Numerical code B. QR code C. Aztec code D. 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...

There are no duplicate product codesA . 2 and 4 only B. 3 and 4 only C. 1 and 3 only D. 1 and 2 onlyView AnswerAnswer: C Explanation: The product code is often the key to obtaining documentation relating to products. Product codes are often use to link to...

The following are examples of scheduled maintenance except...A . Oil changes and regular servicing B. Overhauling of machine C. Repair signage damage from a recent storm D. Cleaning of tankView AnswerAnswer: C Explanation: Scheduled maintenance is any repair and upkeep work performed within a set timeframe. It details when given...

Which of the following best defines ‘exponential moving average’?A . A forecasting technique where the average is calculated by dividing the sum of the val-ues by the number of values B. A process by which the reorder of an item is triggered by the inventory level dropping to a predetermined...

Among different types of costs associated with inventory, the opportunity cost of the investment tied up in inventory belongs to which of the following?A . Acquisition costs B. Purchase price C. Holding costs D. Costs of stockoutsView AnswerAnswer: C Explanation: Direct and indirect costs of holding inventory include the following:...

Bulk loose coal that requires massive handling system should be stored in which area?A . Chill hub B. Stockyard C. Heating warehouse D. StoreView AnswerAnswer: B Explanation: Materials that will not easily deteriorate, are generally stored in open or fairly covered areas (stockyard). The materials are usually in bulk, like...

Which of the following is the correct statement about total ordering cost?A . Rise as the average stock level rises B. Equal the number of orders placed times the cost of placing an order C. Rise as the order quantity rises D. Fall with the per period usage rateView AnswerAnswer:...