What is the formula for calculating defect rate?

Defective items / Total items produced x 100

Total items produced / Defective items x 100

Defective items / Total items sold x 100

Total items sold / Defective items x 100

What is the primary purpose of operating leverage?

To measure the impact of sales volume on operating profit

To determine the reorder quantity

What is the formula for calculating cost to buy (CTB)?

Defective items / Total items produced x 100

What is the formula for calculating cost to make (CTM)?

Defective items / Total items produced x 100

What is the primary purpose of contingency planning?

To prepare for potential crises before they occur

To respond to a crisis after it occurs

To increase production capacity

Which of the following is an example of a crisis that a business might face?

An increase in capacity utilization

What is the primary goal of research and development (R&D)?

To create new knowledge and improve products

Which of the following is an example of incremental innovation?

The development of a smaller version of an existing product

The invention of the smartphone

The disruption of an existing industry

What is the primary purpose of intellectual property protection?

To prevent others from copying or stealing creations

What is the primary difference between JIT and JIC inventory systems?

JIC relies on having spare stocks, while JIT does not

JIT requires buffer stocks, while JIC does not

JIT is more suitable for perishable goods than JIC

JIC reduces storage costs, while JIT increases them

What is the primary purpose of a stock control chart?

To track inventory levels over time

To calculate labour productivity

What is the formula for calculating labour productivity?

Output per period / Number of employees

Defective items / Total items produced x 100

What is the primary purpose of operating leverage?

To measure the impact of sales volume on operating profit

To determine the reorder quantity

What is the primary purpose of a make or buy decision?

To determine whether to produce in-house or outsource

What is the primary purpose of contingency planning?

To prepare for potential crises before they occur

To respond to a crisis after it occurs

To increase production capacity

Which of the following is an example of a crisis that a business might face?

An increase in capacity utilization

What is the primary goal of research and development (R&D)?

To create new knowledge and improve products

Which of the following is an example of incremental innovation?

The development of a smaller version of an existing product

The invention of the smartphone

The disruption of an existing industry

What is the primary purpose of intellectual property protection?

To prevent others from copying or stealing creations

What is the primary difference between JIT and JIC inventory systems?

JIC relies on having spare stocks, while JIT does not

JIT requires buffer stocks, while JIC does not

JIT is more suitable for perishable goods than JIC

JIC reduces storage costs, while JIT increases them

What is the primary purpose of a stock control chart?

To track inventory levels over time

To calculate labour productivity

What is the formula for calculating labour productivity?

Output per period / Number of employees

Defective items / Total items produced x 100

What is the primary purpose of operating leverage?

To measure the impact of sales volume on operating profit

To determine the reorder quantity

What is the primary purpose of a make or buy decision?

To determine whether to produce in-house or outsource

What is the primary purpose of contingency planning?

To prepare for potential crises before they occur

To respond to a crisis after it occurs

To increase production capacity

Which of the following is an example of a crisis that a business might face?

An increase in capacity utilization

What is the primary goal of research and development (R&D)?

To create new knowledge and improve products

Which of the following is an example of incremental innovation?

The development of a smaller version of an existing product

The invention of the smartphone

The disruption of an existing industry

What is the primary purpose of intellectual property protection?

To prevent others from copying or stealing creations

What is the primary difference between JIT and JIC inventory systems?

JIC relies on having spare stocks, while JIT does not

JIT requires buffer stocks, while JIC does not

JIT is more suitable for perishable goods than JIC

JIC reduces storage costs, while JIT increases them

What is the primary purpose of a stock control chart?

To track inventory levels over time

To calculate labour productivity

What is the formula for calculating labour productivity?

Output per period / Number of employees

Defective items / Total items produced x 100

What is the primary purpose of operating leverage?

To measure the impact of sales volume on operating profit

To determine the reorder quantity

What is the primary purpose of a make or buy decision?

To determine whether to produce in-house or outsource

IB 5.6-5.8

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Professional Development

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50 questions

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MULTIPLE CHOICE QUESTION

3 mins • 1 pt

What is the primary purpose of the supply chain process?

To increase production costs

To manage logistics from manufacturing to delivery

To reduce employee wages

To eliminate customer feedback

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

Which of the following is a key difference between local and global supply chains?

Local supply chains are more complex

Global supply chains involve fewer regulations

Local supply chains involve closer geographical suppliers

Global supply chains have no impact on international trade

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

What is the main advantage of Just-in-Time (JIT) inventory management?

It requires large buffer stocks

It reduces storage and wastage costs

It increases lead times

It relies on unreliable suppliers

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

Which of the following is a disadvantage of Just-in-Case (JIC) inventory management?

It reduces storage costs

It increases flexibility to meet demand

It involves higher storage and maintenance costs

It eliminates the need for buffer stocks

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

What does a stock control chart primarily help a business to monitor?

Employee productivity

Inventory levels

Marketing strategies

Financial statements

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

What is the purpose of buffer stock in inventory management?

To reduce lead times

To meet unexpected demand or supply issues

To eliminate reorder quantities

To increase production costs

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

What is the formula for calculating capacity utilization rate?

Actual output / Maximum output x 100

Maximum output / Actual output x 100

Total output / Total input x 100

Total input / Total output x 100

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IB 5.6-5.8

What is the primary purpose of the supply chain process?

Which of the following is a key difference between local and global supply chains?

What is the main advantage of Just-in-Time (JIT) inventory management?

Which of the following is a disadvantage of Just-in-Case (JIC) inventory management?

What does a stock control chart primarily help a business to monitor?

What is the purpose of buffer stock in inventory management?

What is the formula for calculating capacity utilization rate?

A business operating at 100% capacity utilization is likely to experience:

What is the formula for calculating defect rate?

Which of the following is a measure of labour productivity?

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