Inventory Management

Inventory Management

University

25 Qs

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Inventory Management

Inventory Management

Assessment

Quiz

Engineering

University

Easy

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25 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is the main objective of inventory management?

Minimizing taxes

Reducing customer satisfaction

Ensuring materials are available for production and products are available for delivery

Maximizing advertising costs

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which type of inventory is held to meet future demand?

Raw materials

Work-in-process

Finished goods

Maintenance supplies

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is not a function of inventory?

To decouple operations

To take advantage of quantity discounts

To delay production

To hedge against price increases

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the term for stock that is held due to uncertainty in demand or supply?

Cycle stock

Safety stock

Anticipation stock

Seasonal stock

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which inventory type is associated with items currently being processed?

Raw materials

Finished goods

Work-in-process

Transit inventory

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The Economic Order Quantity (EOQ) model primarily helps in:

Calculating depreciation

Determining the optimal order quantity

Designing the layout of the warehouse

Reducing labor cost

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In the EOQ model, what happens if the order quantity is too high?

Ordering costs decrease, holding costs increase

Both ordering and holding costs decrease

Holding costs decrease, ordering costs increase

No effect on total cost

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