CAM AS UNIT 4 (part 2)

CAM AS UNIT 4 (part 2)

Professional Development

40 Qs

quiz-placeholder

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CAM AS UNIT 4 (part 2)

CAM AS UNIT 4 (part 2)

Assessment

Quiz

Business

Professional Development

Easy

Created by

tran tai

Used 2+ times

FREE Resource

40 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

What is inventory?

The raw materials, work in progress, and finished goods held by a business
The total revenue generated by a business
The total cost of production
The profit margin of the product

2.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

Which of the following is a benefit of holding inventory?

Increased storage costs
Ability to meet sudden customer demand
Higher risk of inventory becoming outdated
Increased insurance costs

3.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

What is buffer inventory?

The maximum inventory a business can hold
The minimum inventory to prevent production stoppages
The total cost of inventory
The profit margin from inventory sales

4.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

What is the reorder level in inventory management?

The maximum inventory level
The level at which more inventory is ordered
The total cost of inventory
The profit margin from inventory sales

5.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

What is lead time in inventory management?

The time taken to sell inventory
The time taken for inventory to arrive after ordering
The total cost of inventory
The profit margin from inventory sales

6.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

Which of the following is a cost of holding inventory?

Ability to meet demand
Rent for storage space
Flexibility in production
Reduced risk of stockouts

7.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

What is the main purpose of just-in-time (JIT) inventory management?

To hold high levels of inventory
To minimise inventory holding costs
To increase storage costs
To reduce flexibility in production

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