Inventory Management
Quiz
•
Business
•
3rd Grade
•
Hard
Anne Jamaluddin
Used 8+ times
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25 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The overall objective of inventory management is to achieve satisfactory levels of customer service while keeping inventory costs reasonable.
True
False
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The objective of inventory management is to minimize holding costs
True
False
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
When using EOQ ordering, the order quantity must be computed in every order cycle
True
False
4.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
The purchase-order lead time is the ________.
time between placing an order and its delivery
time between receiving a customer order and producing the products
time between receiving a customer order and delivering the items
time required to correct errors in the defective products
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The ideal order quantity a company should purchase for its inventory given a cost set of production, demand rate, and other variables is known as:
Reorder point
Economic order quantity
Anticipation stock
Inventory control
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Under economic-order-quantity decision model, it is assumed that ________.
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Buffer stock:
demand e.g. Christmas sale
shortages or fluctuations in demand
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