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

National 5 Bus Mgt Ops Suppliers/Inventory

Authored by Chantelle Scott

Other

KG - University

Used 123+ times

National 5 Bus Mgt Ops Suppliers/Inventory

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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

30 sec • 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

30 sec • 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

30 sec • 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

30 sec • 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

30 sec • 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

30 sec • 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 Ops Suppliers/Inventory

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.'