Unit 15 Stock and asset management

Front

What are parts and components in a warehouse ready for use called?

Back

Stock

Front

Why would a company keep some components in its stores?

Back

To allow access when needed

Front

Inventory

Back

The whole stock of a business, including materials, components, work in progress and finished product

Front

Why is it important for a company to manage its storage costs?

Back

Because money tied up in storage costs cannot be used for anything else

Front

When is stock ‘written down’?

Back

Obsolete

Front

What does JIT stand for?

Back

Just in time

Front

What does MTS stand for?

Back

Made to stock

Front

What does MTO stand for?

Back

Made to order

Front

Which of the following is not classed as stock? Copper wire, Lathes, Printed circuit boards, Nuts and bolts

Back

Lathes

Front

Which of these best describes a supply chain?

Back

The companies involved in delivering parts and components for a product