Final Examination in Inventory Management 2ns Sem 2024-2025

Which of the following is NOT considered a type of inventory storage option?

• Bulk storage

• Rack storage

• Pallet jacks

• Automated storage

Which inventory equipment is designed to retrieve items from high shelves with minimal labor?

• Forklift

• Conveyor

• AS/RS system

• Hand trolley

A company switches from static shelving to automated retrieval systems. What is the most likely benefit?

• Reduced lighting costs

• Increased manual labor

• Enhanced storage density and speed

• Elimination of quality checks

I. RFID provides real-time inventory tracking. II. Scan-Based Trading allows suppliers to retain product ownership until point-of-sale.

• Both statements are true

• Only I is true

• Only II is true

• Both statements are false

Which scenario best represents the use of Scan-Based Trading (SBT)?

• Retailer returns unsold goods to supplier monthly.

• Supplier owns goods until they are sold at the store.

• Inventory is shipped directly from manufacturer to consumer.

• Inventory is only recorded upon warehouse entry.

What technology enhances visibility and accuracy by transmitting data through electromagnetic fields?

• Barcode scanner

• RFID

• Conveyor belt

• Batch code reader

Statement A: RFID helps in minimizing inventory shrinkage. Statement B: RFID prevents unauthorized access to warehouse areas.

• Both A and B are true, and B is the correct explanation

• Both A and B are true, but B is not the correct explanation

• A is true, B is false

• A is false, B is true

Which of the following BEST distinguishes SBT from traditional inventory methods?

• SBT requires manual inventory count

• Ownership changes before point-of-sale

• SBT provides real-time shelf-level visibility

• It increases the need for buffer stocks

All of the following are advantages of using RFID in inventory management EXCEPT:

• Real-time tracking

• Increased manual data entry

• Reduction in human error

• Faster check-out process

What formula is used to determine how often inventory is sold and replaced?

• EOQ

• Reorder Point

• Inventory Turnover

• Holding Cost