Which of the following best describes the term, just in time (JIT) stock control?

• The stock which a business holds

• A diagram which shows business stock levels and usage over time

• A system whereby stock arrives only when it is needed by the business

• The minimum amount of stock that a business holds at any one time

Which of the following is a drawback to a business of using just in time (JIT) stock control?

• High insurance costs

• Stock could become out of date or obsolete

• Storage costs will be high

• Delays in deliveries could result in idle resources

Which of the following businesses is most likely to operate a just in time (JIT) stock control system?

• Car manufacturer

• Nationwide footwear retailer

• Wholesaler of building supplies

• School uniform retailer

Which of the following factors would a café, which prides itself on the sale of ethically sourced products, consider the most important when choosing its suppliers?

• Cost

• Delivery

• Availability

• Trust

Which of the following terms best describes the process of choosing a supplier, agreeing what to buy, at what price and by when?

• Just in time (JIT) stock control

• Logistics

• Stock control

• Procurement

Which of the following statements is true in relation to the bar gate stock graph below?

• The business experienced a stock out in month one

• The maximum stock level the business wishes to hold is 4 cartridges

• The lead time for each delivery is always two months

• D The re-order quantity in month two is 6 cartridges

On a bar gate stock graph, which of the following terms describes the size of an order that is delivered to a business at a set moment in time?

• Maximum stock level

• Re-order quantity

• Minimum stock level

• Re-order level

Which of the following job roles would be found within the logistics department for a large supermarket chain?

• Customer services manager

• Warehouse manager

• Retail manager

• Human resources manager

Which of the following areas of business is most likely to be responsible for ensuring customer deliveries arrive on time?

• Production

• Sales

• Customer services

• Logistics

Which of the following terms describes the time difference between a business ordering and receiving stock?

• Re-order quantity

• Lead time

• Buffer stock

• Re-order level