Inventory Control. There are four factors in inventory (stock) control. Which one is being described here? 'this is the highest level of inventory which should be held which minimises holding costs (security etc) and ensures cash is not tied up unnecessarily'.

Maximum inventory (stock) level

Minimum inventory (stock) level

Inventory Control. There are four factors in inventory (stock) control. Which one is being described here? 'this is the amount of inventory which should be ordered once the trigger point has been reached.'

Maximum inventory (stock) level

Minimum inventory (stock) level

Inventory Control. There are four factors in inventory (stock) control. Which one is being described here? 'this is the lowest level of inventory which should ensure the company does not run out and avoids expensive production delays and customer dissatisfaction'.

Minimum inventory (stock) level

Maximum inventory (stock) level

Inventory Control. There are four factors in inventory (stock) control. Which one is being described here? 'this is the inventory level, which once reached, a new order should be placed with supplied. Takes into account average daily usage and lead time.'

Maximum inventory (stock) level

Minimum inventory (stock) level

Which is NOT a disadvantage of UNDERstocking?

More frequent rush orders will need to be placed which increases admin costs

A business might not be able to cope with an unexpected order which will upset customers

Production may have to stop which means staff paid for not working

Greater risk that inventory will deteriorate or be stolen

Which is NOT a disadvantage of OVERstocking?

A business will not be able to cope with an unexpected rush order

High storage costs e.g. warehouse staff costs and rental of space

Company money is tied up which could be used more effectively elsewhere

Higher risk of theft and deterioration of stock

What action might a supermarket manager take when his computerised inventory control system spots a slow moving item?

Have a promotion activity (e.g. BOGOF) to increase sales

Order more to take advantage of bulk buying discounts

Increase the maximum inventory level to be held for that iem

Discpline staff for understocking

When would capital intensive production be more suitable?

When high and consistent quality output is required

When each item is unique and specific to the customers needs

When the product needs craftsmanship and special expertise

When it is not possible to source machinery to help make the product

Identify which answer applies to the statement below ... "It is expensive because of the need to pay highly skilled staff".

Batch Production / Disadvantage

Identify which answer applies to the statement below ... "Higher prices can be charged for products so higher profits earned".

Batch Production / Disadvantage

Identify which answer applies to the statement below ... "Workers are more motivated using their skills so job satisfaction is higher".

Batch Production / Disadvantage

Identify which answer applies to the statement below ... "Faulty item means scrapping the whole group of items which were in the same stage together".

Batch Production / Disadvantage

Identify which answer applies to the statement below ... "Highest quantity of goods will be made which helps boost sales".

Batch Production / Disadvantage

Identify which answer applies to the statement below ... "Machinery can work 24/7 unlike staff therefore output is higher".

Batch Production / Disadvantage

Identify which answer applies to the statement below ... "Greater use of automation means less chance of human error and lower production costs".

Batch Production / Disadvantage

Which is NOT a characteristic of a high quality product?

Increases the level of customer complaints

Reliable product that work well

Meets specification agreed between supplier and customers

Has little wastage and is environmentally sound

Identify which answer applies to the statement below ... "Boredom from repetitive tasks may lower staff morale and increase absenteeism and staff turnover".

Batch Production / Disadvantage

A disadvantage of quality measures implemented by a company is that ...

More workers will be employed in quality checking

Substandard products are not sold to customers

More likely to develop a good reputation

What is the best description of benchmarking as a method of ensuring quality?

Copying and/or improving on the techniques used by the best rival company in your industry

Checking items at the end of the production pocress for any faults

Small group of employees meeting regularly to discuss how to improve production process

Creation of a 'quality culture' where everyone else to get things right first time

What is the best description of quality circles as a method of ensuring quality?

Small group of employees meeting regularly to discuss how to improve production process

Checking items at the end of the production pocress for any faults

Copying and/or improving on the techniques used by the best rival company in your industry

Creation of a 'quality culture' where everyone else to get things right first time

Which is NOT a recognised method of ensuring quality?

Implementing a piece rate wage system for staff

Purchasing high quality raw materials

Recruiting and training staff to a high standard

Maintaining equipment and replacing old technology

Which of the following is an advantage of recycling?

Can gain customers who like to buy from socially responsible companies

Increases waste and items taken to land fill sites

Company can be fined for failing to implement legislation properly

Scarce resources such as gas an electricity are used more often

Which is NOT a description of technology used in the Operations department?

Internet to allow the company to establish e-commerce facility for customers

Drones to deliver spare parts to rural factories

CAD/CAM technology to help automate production

Software to computerise inventory control records

National 5 Bus Mgt Operations

Authored by Chantelle Scott

Other

KG - University

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MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The factors that need to be considered when deciding on a supplier are known as the ...

Purchasing Mix

Marketing Mix

Supplier Mix

Inventory Mix

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which factor of the purchasing mix does this statement represent ...
'Must be considered if the company aims to earn a profit and keep inventory costs to a minimum'.

Price

Quality

Quantity

Reputation

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which factor of the purchasing mix does this statement represent ...
'Must be considered if the company wants to reduce wastage and complaints from customers.

Price

Quality

Quantity

Reputation

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which factor of the purchasing mix does this statement represent ...
'Do other customers recommend the supplier as being one which meets deadlines and provides great customers service?'.

Price

Quality

Quantity

Reputation

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which factor of the purchasing mix does this statement represent ...
'Do other customers recommend the supplier as being one which meets deadlines and provides great customers service?'.

Storage Facilities

Lead Time

Credit Terms

Reputation

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which factor of the purchasing mix does this statement represent ...
'Will the supplier help our cash flow by giving us time to pay invoices after delivery has been made?'.

Storage Facilities

Lead Time

Credit Terms

Reputation

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which factor of the purchasing mix does this statement represent ...
'Will the supplier be able to turn round orders quickly and charge less for transportation due to be being based close by?'.

Storage Facilities

Lead Time

Credit Terms

Location

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National 5 Bus Mgt Operations

The factors that need to be considered when deciding on a supplier are known as the ...

Which factor of the purchasing mix does this statement represent ...'Must be considered if the company aims to earn a profit and keep inventory costs to a minimum'.

Which factor of the purchasing mix does this statement represent ...'Must be considered if the company wants to reduce wastage and complaints from customers.

Which factor of the purchasing mix does this statement represent ...'Do other customers recommend the supplier as being one which meets deadlines and provides great customers service?'.

Which factor of the purchasing mix does this statement represent ...'Do other customers recommend the supplier as being one which meets deadlines and provides great customers service?'.

Which factor of the purchasing mix does this statement represent ...'Will the supplier help our cash flow by giving us time to pay invoices after delivery has been made?'.

Which factor of the purchasing mix does this statement represent ...'Will the supplier be able to turn round orders quickly and charge less for transportation due to be being based close by?'.

Which factor of the purchasing mix does this statement represent ...'Does the time taken to deliver goods after an order has been placed meet with our own production deadlines?'.

Inventory Control. There are four factors in inventory (stock) control. Which one is being described here?'this is the highest level of inventory which should be held which minimises holding costs (security etc) and ensures cash is not tied up unnecessarily'.

Inventory Control. There are four factors in inventory (stock) control. Which one is being described here?'this is the amount of inventory which should be ordered once the trigger point has been reached.'

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Which factor of the purchasing mix does this statement represent ...
'Must be considered if the company aims to earn a profit and keep inventory costs to a minimum'.

Which factor of the purchasing mix does this statement represent ...
'Must be considered if the company wants to reduce wastage and complaints from customers.

Which factor of the purchasing mix does this statement represent ...
'Do other customers recommend the supplier as being one which meets deadlines and provides great customers service?'.

Which factor of the purchasing mix does this statement represent ...
'Do other customers recommend the supplier as being one which meets deadlines and provides great customers service?'.

Which factor of the purchasing mix does this statement represent ...
'Will the supplier help our cash flow by giving us time to pay invoices after delivery has been made?'.

Which factor of the purchasing mix does this statement represent ...
'Will the supplier be able to turn round orders quickly and charge less for transportation due to be being based close by?'.

Which factor of the purchasing mix does this statement represent ...
'Does the time taken to deliver goods after an order has been placed meet with our own production deadlines?'.

Inventory Control. There are four factors in inventory (stock) control. Which one is being described here?
'this is the highest level of inventory which should be held which minimises holding costs (security etc) and ensures cash is not tied up unnecessarily'.

Inventory Control. There are four factors in inventory (stock) control. Which one is being described here?
'this is the amount of inventory which should be ordered once the trigger point has been reached.'