WorksheetsA1 Flash Card Test (week 17) wc 23.03.26
Total questions: 25
Worksheet time: 20mins
What is the practice of hiring external companies to handle certain business activities?
Insourcing
Outsourcing
Downsizing
Offshoring
Which type of employees are hired for a limited period or specific projects?
Permanent employees
Full-time employees
Temporary and Part-time employees
Seasonal employees
What is the term for manufacturing products only after receiving customer orders?
Mass production
Producing to stock
Producing to order
Batch production
What influences the amount of inventory a company holds?
Market trends
The Type of Inventory
The production method
Financial Costs
Which of the following is NOT a component of Inventory Control Charts?
Lead time
Reorder levels
Employee satisfaction
Buffer stock
What term describes the time taken between placing an order and receiving it?
Lead time
Delivery time
Processing time
Shipping time
What is the term for the minimum level of inventory that must be maintained?
Maximum stock
Buffer stock
Safety stock
Reorder level
What factor affects the choice of suppliers for a business?
Reliability
Employee preferences
Market trends
Customer feedback
What is the network of organizations involved in producing and delivering a product?
Distribution network
Supply chains
Logistics network
Production line
What is the term for the quantity of inventory ordered to replenish stock?
Order quantity
Reorder quantities
Stock level
Inventory amount
Reorder the following to show the supply chain for a packet of crisps
Potato Farmer
Crisp Manufacturer
Haulage Company
Retailer
Customer
The purpose of supply chain management is to...
Meet customer demands
Improve quality of a product
Increase profitability
Increase production
What does supply chain refer to?
The stages goods and services go through from their source to the end consumer
The process of transporting a product from one location to another
The process of getting a good or service from a warehouse to the end customer
What does logistics refer to?
The transportation, storage and distribution of supplies
The process of ensuring that supplies are ordered in the correct amount at the right time
The distribution of supplies to the end customer only
What does the term JIT mean?
Just In Case
Just In Time
Just in Transport
What is an advantage of buffer stock?
Businesses have spare supplies in case of emergency
Businesses need space for storage
Businesses have lots of capital invested in stock
Which of the following is NOT a cost of holding inventories?
opportunity cost
storage cost
cost of wastage
elasticity of demand
This is the level of stocks that will trigger a new order to be sent to a supplier
buffer stock
re-order inventory level
re-order quantity
maximum inventory level
Which of the following is NOT a form of inventory?
raw materials
work in progress
finished goods
goods with supplier
Inventory is another word for:
cost
staff
stock
manager
The reliability of the supplier would be taken into account when considering reorder levels?
True
False
What would be taken into account when considering a reorder quantity?
Minimum Stock Level
Maximum Stock Level
Lead Time
All of the above
What would be taken into account when considering a maximum stock level?
Storage, Price and Delivery time
Storage. Price and Minimum Stock level
Storage, Price and Perishability
What is a characteristic of a zero hours contract?
Guaranteed minimum hours of work each week
No guaranteed hours of work; employees work only when needed
Full-time employment with benefits
Fixed-term employment with a set end date
Which of the following is a benefit of having a flexible workforce?
Increased rigidity in work processes
Reduced ability to adapt to market changes
Enhanced ability to respond to changing business needs
Decreased employee satisfaction
