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WorksheetsInventory Management
Total questions: 15
Worksheet time: 3mins
What is inventory?
Stock Items
Material Resource
Finished Goods
Raw Materials
All of the Above
Inventory management is managing and optimizing the accumulation of material resources so that the business organization can satisfy the customer demands.
True
False
What type of inventory is this?
MRO
RAW MATERIAL
WORK IN PROGRESS
FINISHED GOOD
What type of inventory is this?
FINISHED GOOD
RAW MATERIAL
MRO
WORK IN PROGRESS
What type of inventory is this?
FINISHED GOOD
MRO
WORK IN PROGRESS
RAW MATERIAL
What type of inventory is this?
RAW MATERIAL
FINISHED GOOD
MRO
WORK IN PROGRESS
What type of inventory is this?
WORK IN PROGRESS
MRO
FINISHED GOOD
RAW MATERIAL
What type of inventory is this?
MRO
FINISHED GOODS
WORK IN PROGRESS
RAW MATERIAL
What type of inventory is this?
FINISHED GOODS
MRO
WORK IN PROGRESS
RAW MATERIAL
What type of inventory is this?
MRO
WORK IN PROGRESS
RAW MATERIAL
FINISHED GOOD
FILL IN THE BLANKS:
Minimizing inventory holding costs while maintaining ________, _______, and ________ high.
CUSTOMER ORDERS, PRODUCT VALUE, QUALITY
PRODUCTION OUTPUT, QUALITY, CUSTOMER SERVICE
INTEGRITY, SERVICES, EMPLOYEE MORALE
PRODUCTION WIP, CUSTOMER SATISFACTION, STANDARD
What are the financial implications of holding inventory?
Money Costs, Personnel Costs, Building Costs, Administrative Costs
Storage Costs, Capital Costs, Services Costs, Theft Insurance
Opportunity Costs, Storage Costs, Services Costs, Inventory Costs
Opportunity Costs, Storage Costs, Services Costs, Obsolescence Costs
A small change in demand, results in a demand distortion that travels upstream in the supply chain
Bull-whip or the Forrester Effect
Push and Pull Method
Water Tank Analogy
Economic Order Quantity
What is not a part of the warehouse operations?
Producing
Sourcing
Delivering
Ordering
All of the above
Safety stocks are the accumulation of product or items in the event of a reduced customer demand.
TRUE
FALSE
