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WorksheetsSESSION 2 2022/2023
Total questions: 20
Worksheet time: 20mins
The movement of products through the supply chain until they reach the customer is called:
Retailing
Distribution
Transportation
Manufacturing
The ideal transport method for fluids is:
Road transport
Railway transport
Water transport
Pipeline
Which pricing strategy requires each customer to pay the exact freight from the factory to their location?
Zone pricing
Base-point pricing
FOB origin pricing
FOB destination pricing
Which of these is NOT considered inventory?
Finished items for sale
Components for production
Raw materials
Machinery and equipment
This type of stock helps businesses avoid shortages and price hikes:
Seasonal stock
Safety stock
Deadstock
Speculative stock
Inventory risk cost arises from:
Obsolete goods held for a long time
Capital tied up in inventory
Moving the product in and out of inventory
High insurance costs for loss or damage
Tax on inventory value is referred to as:
Capital cost
Storage space cost
Inventory service cost
Inventory risk cost
Warehouses that support customer demands during peak seasons offer:
Spot-stocking
Full-line stocking
Value-added service
Seasonal stocking
A bonded warehouse stores goods until:
Payment by the customer
Payment of customs duties
Customs inspection
Seller pickup
The goal of a smart warehouse using technology is:
To increase production cost
To increase production units
To reduce system reliability
To improve inventory accuracy
Transportation is vital as products are rarely produced and consumed in the same location.
True
False
The best cargo for air travel has a high cost-to-weight ratio.
True
False
Transportation documentation can provide legal recourse if issues arise.
True
False
The Bill of Lading (BoL) is an invoice submitted by the carrier for payment.
True
False
Inventory managers decide on supply chain operations to meet customer needs.
True
False
Cycle stock is emergency inventory held by a company.
True
False
Inventory carrying costs due to obsolescence are known as storage space costs.
True
False
Warehousing involves storing physical inventory for sale or distribution.
True
False
Agricultural fertilizers are examples of spot-stocking services in warehouses.
True
False
Public warehouse operations provide economies of scale by sharing resources.
True
False
