MAR214 - FINALS - March14

Refers to the stock or store of goods waiting to be sold or used for manufacture.

• Inventory

• Procurement

• Forecasting

• Operations

Which is not a strategy for Inventory Management?

• Value Analysis

• Variation Reduction

• Lean Operation

• Supply Chain Management

The process of keeping track of accurate and up-to-date information in order to make better inventory decisions.

• Value Analysis

• Variation Reduction

• Record Keeping

• Supply Chain Management

Which of the following can yield significant improvement in inventory management?

• Value Analysis

• Variation Reduction

• Record Keeping

• Supply Chain Management

When goods are pulled through the system to match demand

• Value Analysis

• Lean Operation

• Record Keeping

• Supply Chain Management

Working more closely with suppliers to coordinate shipments to reduce the size and frequency of stockouts while lowering inventory carrying costs.

• Value Analysis

• Lean Operation

• Record Keeping

• Supply Chain Management

Refers to the overseeing and designing of production, manufacturing, and distribution of products and services.

• Operations Management

• Inventory Management

• Materials Management

• Forecasting

Refers to how efficiently inputs, like business processes, result in outputs of goods and services.

• Productivity

• Inventory

• Materials Management

• Forecasting

Rearrange the following in terms of the business cycle.

• Supplier

• Customer

• Manufacturing

• Distribution

• Raw Materials

Defined as an object or susbtance that is manufactured or redefined for sale.

• Product

• Technology

• Service

• Manufacturing