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Inventory and Cost Management Quiz

Total questions: 127

Worksheet time: 1hrs 15mins

Name
Class
Date
1.

Products sent to the seller with the agreement that payment will be made to the manufacturer only when the items are sold.

a)

Consignment

b)

Agreement

c)

Category

d)

Inventory

e)

MRO

2.

What are the inventory costs?

a)

Carrying, acquisition, inspection, handling, storage, insurance

b)

Management, merchandise, reduced, unsold

c)

Maintenance, assets, deterioration, out-of-date, price

d)

Invested, carrying, purchased, transit, transport

e)

Manufactured, supply, production, obsolescence

3.

What costs are included to inventory?

a)

material overhead cost

b)

carrying cost

c)

acquisition cost

d)

shipping cost

e)

delivery cost

4.

What does carrying cost include?

a)

storage cost

b)

insurance

c)

inspection cost

d)

distribution cost

e)

directive cost

5.

What does a plan of decreasing handling costs include?

a)

unsold merchandise at a reduced cost

b)

special prices during a month

c)

raw materials in a retail

d)

negotiating with shipping departments

e)

sales in the market

6.

Goals of working with increased costs (Minute Electronics Corporation)

a)

staff appreciation

b)

concerns about depreciation and obsolescence

c)

shift funds to investments where they can earn interest

d)

hiring qualified personnel

e)

restriction of working hours

7.

The result of increased shipping fees

a)

handling costs are up

b)

the value of raw materials is down

c)

the products are tested more carefully

d)

insurance costs are up

e)

distribution is delayed

8.

What concerns are included in the goals of Minute Electronics Corporation?

a)

depreciation

b)

obsolescence

c)

complaints

d)

increases

e)

costs

9.

The expenses involved in sourcing and purchasing materials are included in …

a)

Acquisition cost

b)

Work in process

c)

Finished goods

d)

Nonproduction

e)

Consignment

10.

What does acquisition cost include?

a)

sourcing expenses

b)

purchasing materials

c)

transporting

d)

selling

e)

delivering

11.

The company purchased … to protect its assets.

a)

Insurance

b)

Distributor

c)

Seller

d)

Vendor

e)

Order filler

12.

All of the expenses included in purchasing, handling, storing, and transporting materials are calculated as …

a)

Material overhead cost

b)

Interest

c)

Appreciation

d)

Storage cost

e)

Depreciation

13.

What does material overhead cost include?

a)

handling

b)

storing

c)

transporting

d)

selling

e)

delivering

14.

Fuel price increases add to the cost of moving materials to calculate the …

a)

Handling cost

b)

Obsolescence

c)

Staff

d)

Insurance

e)

Consignment

15.

The … includes expenses incurred inspecting items upon arrival, during storage, and prior to shipping.

a)

Inspection cost

b)

Inspection

c)

Cost

d)

Insurance

e)

Interest

16.

What expenses does inspection cost include?

a)

upon arrival

b)

during storage

c)

prior to shipping

d)

while checking raw materials

e)

prior to distributing

17.

Decreasing material overhead cost releases cash for investments where companies can earn …

a)

Interest

b)

Insurance

c)

Acquisition cost

d)

Spare parts

e)

Pound

18.

Write a word or phrase that is similar in meaning to the underlined part. With new products coming out each year, the electronics company was concerned about the process of becoming out-of-date.

a)

Obsolescence

b)

Insurance

c)

Interest

d)

Acquisition

e)

Inspection

19.

Write a word or phrase that is similar in meaning to the underlined part. The company increased the price of the end product to cover the total cost of holding assets, including storage, maintenance, insurance, and other expenses.

a)

Carrying cost

b)

Goal

c)

Manufacturing

d)

Merchandising

e)

Material overhead goal

20.

What expenses does carrying cost include?

a)

storage

b)

maintenance

c)

insurance

d)

procurement

e)

outsourcing

21.

Write a word or phrase that is similar in meaning to the underlined part. The managers determined that a certain amount of loss of value, often due to damage or deterioration during storage was unavoidable.

a)

Depreciation

b)

Retailing

c)

Vending

d)

Loss

e)

Lot

22.

What is depreciation?

a)

loss of value

b)

damage during storage

c)

deterioration during storage

d)

increased costs

e)

loss of interest

23.

Write a word or phrase that is similar in meaning to the underlined part. The company searched for a new storage warehouse, hoping to decrease expenses related to storage, including warehouse space, security, and maintenance.

a)

Storage cost

b)

Depreciation

c)

Obsolescence

d)

Interest

e)

Handling cost

24.

What expenses does storage cost include?

a)

warehouse space

b)

security

c)

maintenance

d)

purchasing materials

e)

delivering items

25.

What does the abbreviation 3PL stand for?

a)

Third-party logistics

b)

Third-party logistician

c)

Three-party logistics

d)

Three-party logistician

e)

Third-party logistic

26.

What do services of 3PL include?

a)

warehousing

b)

distribution

c)

procurement

d)

tracking and tracing

e)

manufacturing

27.

What do the types of providers include?

a)

couriers

b)

freight forwarders

c)

On-demand transport

d)

Adapters and developers

e)

Distribution services

28.

How many categories does 3PL have?

a)

4

b)

5

c)

3

d)

2

e)

6

29.

What are the categories of 3PL??

a)

standard providers

b)

service developers

c)

customer adapters

d)

retailers

e)

wholesalers

30.

Who perform 'pick and pack', warehousing, and distribution services?

a)

Standard providers

b)

Service developers

c)

Customer adapters

d)

Customer developers

e)

3PL providers

31.

What are the functions of standard providers?

a)

pick and pack

b)

warehousing

c)

distribution services

d)

purchasing materials

e)

delivering items

32.

Which of the following is not a service offered by standard providers?

a)

Security

b)

Warehousing

c)

Distribution

d)

Pick and pack

e)

Performing

33.

What do service developers offer?

a)

specialized services

b)

making finished goods

c)

reducing costs

d)

warehousing

e)

value-added services

34.

What do specialized services of service developers include?

a)

tracking and tracing

b)

security

c)

maintenance

d)

purchasing

e)

manufacturing

35.

What do customer adapters do?

a)

take over logistics activities

b)

improve operations without changing them

c)

maintenance and repair

d)

provide technical support

e)

advise customers on shipping rates

36.

What do customer developers do?

a)

perform very detailed tasks

b)

work with customers

c)

prepare requests for proposals

d)

request for quotations

e)

negotiate with transport companies

37.

A firm that provides outsourced third-party logistics services to customers.

a)

Third-party logistics provider

b)

Developer

c)

3PL courier

d)

3PL forwarder

e)

Provider

38.

Having experience and information technology resources but no personnel

a)

Non-asset based

b)

Outsourced

c)

Subcontracted

d)

Specialized

e)

Detailed

39.

FTL, hotshot, Next Flight Out, and International Expedited shipping.

a)

On-demand transport

b)

Order

c)

Request

d)

Warehousing

e)

Distribution

40.

A provider who takes over logistics functions for a few customers.

a)

Customer developer

b)

Standard provider

c)

Freight forwarder

d)

Courier

e)

Distributor

41.

A provider who offers tracking and tracing, cross-docking, and security.

a)

Service developer

b)

Subcontractor

c)

Vendor

d)

Logistician

e)

Manager

42.

A provider who takes over and improves logistics activities.

a)

Customer adapter

b)

Service developer

c)

Standard provider

d)

Customer developer

e)

Standard developer

43.

Write a word or phrase that is similar in meaning to the underlined part. Mr. Murphy uses outside suppliers for warehousing and distribution.

a)

Outsources

b)

Picks

c)

Packs

d)

Provides

e)

Hires

44.

Write a word or phrase that is similar in meaning to the underlined part. We hired a firm that took over another firm's contract to perform security operations.

a)

Subcontractor

b)

Retailer

c)

Merchandiser

d)

Supervisor

e)

Coordinator

45.

Write a word or phrase that is similar in meaning to the underlined part. Sally needs a delivery service that can send packages internationally overnight.

a)

Courier

b)

Vendor

c)

Retailer

d)

Distributor

e)

Seller

46.

Write a word or phrase that is similar in meaning to the underlined part. In Australia, Customs agents operate under carriers who move goods to markets.

a)

Freight forwarder

b)

Provider

c)

Developer

d)

Adapter

e)

Customer

47.

Example of outsourcing tasks.

a)

on-demand transport

b)

procurement chain

c)

information technologies

d)

technical background

e)

consulting

48.

Category of 3PL providers

a)

customer developer

b)

customer adapter

c)

employee

d)

freight forwarder

e)

logistics salesperson

49.

What part of manufacturing is important to inventory control?

a)

inbound logistics processes

b)

low costs

c)

distribution processes

d)

storing finished items

e)

warehousing

50.

What are the major functions of the inbound process?

a)

receiving

b)

distribution

c)

warehousing

d)

stability

e)

tracking down

51.

Stages in materials receiving

a)

receiving in a designated facility

b)

confirming accuracy

c)

storing raw materials

d)

provide technical support

e)

advice customers on shipping rates

52.

How do the plant managers work?

a)

They send instructions when raw materials are required

b)

They are important to inventory control

c)

They call a meeting for all members of the inbound logistics

d)

They confirm the accuracy of delivered materials

e)

They deliver materials to the necessary recipients

53.

What does a warehouse staff do in materials distribution?

a)

track down materials

b)

check vehicle

c)

make goods

d)

sell finished parts

e)

receive materials

54.

What is the next step after tracking down materials?

a)

checking out materials

b)

improving operations without changing them

c)

maintenance and repair

d)

providing technical support

e)

consulting customers

55.

What is the final step in Bright manufacturing?

a)

Loading materials onto trucks

b)

Processing of materials

c)

Setting materials in a warehouse

d)

Removing materials from inventory

e)

Delivering materials to the necessary recipient

56.

Stages in materials distribution

a)

instructing the staff

b)

tracking down materials

c)

distributing materials

d)

testing raw materials

e)

negotiating with suppliers

57.

A facility or factory that is used for manufacturing.

a)

Plant

b)

Factory

c)

Firm

d)

Facility

e)

Manufacture

58.

The process of receiving, storing, and managing materials used in production.

a)

Inbound logistics

b)

Logistics

c)

Manufacture

d)

Distribution

e)

Storing

59.

The physical area where materials are taken in and processed.

a)

Receiving area

b)

Receiving center

c)

Checking area

d)

Distributing center

e)

Plant area

60.

To set materials in a warehouse or other storage facility for future use.

a)

Store

b)

Deliver

c)

Sell

d)

Purchase

e)

Buy

61.

To make a note that materials have been removed from inventory.

a)

Check out

b)

Note

c)

Write

d)

Bring

e)

Take out

62.

To deliver materials to the necessary recipients.

a)

Distribute

b)

Bring

c)

Send

d)

Prepare

e)

Put

63.

The manager called a meeting for all members of the inbound logistics …

a)

Staff

b)

Employers

c)

Employees

d)

Company

e)

Process

64.

Warehouse staff is on hand to … incoming raw materials.

a)

Receive

b)

Send

c)

Put

d)

Take

e)

Bring

65.

The plant manager asked a warehouse staffer to … the needed materials.

a)

Track down

b)

Track out

c)

Distribute

d)

Plant

e)

Strive

66.

Raw materials are stored off site in a separate …

a)

Facility

b)

Factory

c)

Center

d)

Area

e)

Store

67.

What is the objective of outbound logistics.

a)

getting finished products to customers

b)

manufacturing and inventory control

c)

solving issues in materials receiving

d)

warehousing and storage

e)

purchasing and maintenance

68.

The first step in outbound logistics.

a)

Order processing

b)

Delivering

c)

Shipping

d)

Verifying

e)

Authorization

69.

What does order processing include?

a)

Credit card authorization

b)

Shipment

c)

Distribution

d)

Tracking down materials

e)

Receiving area

70.

What's the action in the case of unclear information?

a)

Orders are verified with customers

b)

An employee documents shipment

c)

Orders are packed

d)

Choosing packing materials

e)

Tracking of shipments

71.

What work is included in order processing?

a)

credit card authorization

b)

verification of orders with customer

c)

consulting on payment methods

d)

acquiring information

e)

working with delays

72.

How are materials packed?

a)

Based on the method of shipment

b)

During order processing

c)

After making a record of a shipment

d)

Before sending out

e)

By authorization

73.

What's the action before shipment's going out?

a)

An employee documents shipments

b)

Orders are verified

c)

Credit card is authorized

d)

Order processing takes place

e)

Materials are delivered

74.

What are the actions after order processing in outbound logistics?

a)

packing

b)

shipping

c)

consulting

d)

tracing

e)

authorization

75.

Outbound logistics activities

a)

order processing

b)

delivering

c)

shipping

d)

testing raw materials

e)

negotiating with suppliers

76.

…was delayed due to the customer's unclear instructions.

a)

Order processing

b)

Authorization

c)

Verifying

d)

Delivering

e)

Shipping

77.

The order was packed and shipped in a … way.

a)

Timely

b)

Objective

c)

Rapid

d)

Quick

e)

Slow

78.

Anna's job is to … when shipments go out and when they are received.

a)

Document

b)

Deliver

c)

Pay

d)

Verify

e)

Write down

79.

The customer's… purchase was not authorized by the bank.

a)

Credit card

b)

Goods

c)

Product

d)

Order

e)

Material

80.

The company prides itself on … shipments on time, every time.

a)

Delivering

b)

Verifying

c)

Selling

d)

Shipping

e)

Documenting

81.

Sasha used to work in inbound logistics, but now she works in …

a)

Outbound logistics

b)

Order processing

c)

Credit card authorization

d)

Documenting shipments

e)

Tracking of shipments

82.

The customer service representative … the customer's information.

a)

Verified

b)

Changed

c)

Tracked

d)

Documented

e)

Delivered

83.

The credit card company gave … for the customer's purchase.

a)

Authorization

b)

Order

c)

Purchase

d)

Agreement

e)

Documents

84.

Mr. Hansen called to see when the order …

a)

Shipped

b)

Authorized

c)

Recorded

d)

Documented

e)

Packed

85.

The company's … is to provide good quality products for low prices.

a)

Objective

b)

Process

c)

Manner

d)

Way

e)

Authority

86.

Translate: supply chain

a)

цепь поставок

b)

система снабжения

c)

логистическая цепь

d)

обслуживание поставщиков

e)

сервисная система

87.

Translate: supplier

a)

поставщик

b)

снабженческая фирма

c)

завод-поставщик

d)

провайдер

e)

обеспечение

88.

Translate: consumer

a)

потребитель

b)

заказчик

c)

клиент

d)

распределитель

e)

доставщик

89.

Translate: industry

a)

промышленность

b)

отрасль

c)

хозяйство

d)

экономика

e)

деятельность

90.

Translate: manufacturing

a)

производство

b)

изготовление

c)

распределение

d)

действо

e)

отрасль

91.

Translate: customer service manager

a)

менеджер по работе с клиентами

b)

управляющий службой сервиса для клиентов

c)

таможенный менеджер

d)

менеджер обслуживания в таможне

e)

сервис-управляющий

92.

Translate: inventory control manager

a)

ответственный за контроль расхода материальных средств

b)

менеджер по запасам

c)

контроллер за инвентаризацией

d)

ответственный по складу и инвентарю

e)

заведующий складом

93.

Translate: logistics services salesperson

a)

специалист по продажам логистических услуг

b)

торговый представитель логистических услуг

c)

логистическое обслуживание клиентов

d)

логистические услуги для продавцов

e)

представление логистического обслуживания

94.

Translate: international logistics manager

a)

менеджер по международной логистике

b)

менеджер по международным логистическим операциям

c)

интернациональный логист

d)

интернациональный логистический специалист

e)

международный логистический управляющий

95.

Translate: production manager

a)

управляющий по производству

b)

менеджер по производству

c)

продукционный менеджер

d)

специалист по продукции

e)

производственный рабочий

96.

Translate: supply chain manager

a)

менеджер цепочки поставок

b)

менеджер по управлению поставками

c)

менеджер по организации поставок

d)

снабженческий управляющий

e)

специалист обеспечения цепи поставок

97.

Translate: systems support manager

a)

руководитель обеспечения разработки системы

b)

руководитель программы разработки системы

c)

специалист системы поддержки

d)

работник технического обеспечения

e)

управляющий по системам

98.

Translate: materials manager

a)

руководитель отдела материально-технического снабжения

b)

менеджер по материально-техническому снабжению

c)

управляющий материалами

d)

руководитель материального отдела

e)

специалист по материалам

99.

Translate: purchasing manager

a)

начальник отдела снабжения

b)

руководитель отдела закупок

c)

закупочный работник

d)

специалист склада

e)

менеджер по продаже

100.

Translate: retailer

a)

розничный торговец

b)

распространитель

c)

оптовик

d)

закупщик

e)

подрядчик

101.

Translate: consulting

a)

оказание консультационного содействия

b)

консалтинг

c)

информационно-консультационные услуги

d)

специалист по консалтингу

e)

работа с консультациями

102.

Translate: merchandising

a)

мерчендайзинг

b)

усилия, необходимые для сбыта товара

c)

продвижение продукта

d)

производство

e)

сбыт

103.

Translate: accident

a)

аварийная ситуация

b)

несчастный случай

c)

событие

d)

мероприятие

e)

рабочие моменты

104.

Translate: injuries

a)

телесные повреждения

b)

ушибы

c)

получение травм

d)

аварийные ситуаций

e)

поломки

105.

Translate: fatalities

a)

несчастные случаи со смертельным исходом

b)

смертельный травматизм

c)

неловкие падения

d)

соскальзывание

e)

удары

106.

Translate: malfunctioning

a)

ненадлежащее функционирование

b)

неисправность в работе

c)

несрабатывание механизма

d)

недостаточная работа

e)

малое функционирование

107.

Translate: personal protective equipment

a)

индивидуальные средства защиты

b)

индивидуальное защитное снаряжение

c)

персональное оборудование

d)

личное оборудование для защиты

e)

защитная техника

108.

Translate: assistance

a)

содействие

b)

сопровождение

c)

оказание поддержки

d)

реагирование

e)

предоставление

109.

Translate: trip

a)

спотыкаться

b)

падать

c)

доставлять

d)

проливать

e)

скользить

110.

Translate: inquiry

a)

обращение

b)

запрос

c)

наведение справок

d)

требование

e)

обязательство

111.

Translate: first-aid kit

a)

комплект первой медицинской помощи

b)

аптечка

c)

защитное оборудование

d)

основной комплект работника

e)

сумка безопасности

112.

Translate: complaints

a)

жалобы

b)

претензий

c)

недовольство

d)

компоненты

e)

заявления

113.

Translate: returns

a)

возврат товара

b)

непроданный товар

c)

неиспользованные чеки

d)

порча имущества

e)

приобретение товара

114.

Translate: purchasing

a)

закупки

b)

заготовка

c)

снабжение

d)

распределение

e)

раздача

115.

Translate: production plan

a)

производственный план

b)

производственная программа

c)

план продукции

d)

программа по продуктам

e)

продукционная программа

116.

Translate: invoice

a)

счет-фактура

b)

смета

c)

накладная

d)

голосовой

e)

внутренний

117.

Translate: delivery

a)

доставка

b)

вывоз

c)

раздача

d)

распределение

e)

снабжение

118.

Translate: replenishment

a)

пополнение запасов

b)

пополнение расходов

c)

обновление

d)

хранение и сбыт

e)

доставка по заказам

119.

Translate: lot sizes

a)

партия груза

b)

число изделий в партии

c)

большие измерения

d)

различие размеров

e)

объем лота

120.

Translate: short runs

a)

мелкосерийное производство

b)

небольшая партия изделий

c)

непродолжительный период работы

d)

короткие забеги

e)

малые закупки

121.

Translate: consumption

a)

потребление

b)

расходование

c)

излучение

d)

выпуск

e)

изготовление

122.

Translate: lead time

a)

время выполнения заказа

b)

срок изготовления

c)

производственный цикл

d)

пиковые часы

e)

основное время

123.

Translate: transport mode

a)

вид перевозки

b)

способ транспортировки

c)

режим транспорта

d)

перевозочный режим

e)

способ отправки

124.

Translate: shipment

a)

фрахт

b)

партия груза

c)

доставка грузов

d)

отправка кораблем

e)

морские пути

125.

Translate: transit time

a)

время в пути

b)

время транспортировки

c)

транзитные часы

d)

часы отправки

e)

рабочее время

126.

Translate: consignment

a)

отправка грузов

b)

партия груза

c)

партия товаров

d)

получение груза

e)

доставка товаров

127.

Translate: raw material

a)

сырье

b)

первичный материал

c)

изготовленный материал

d)

продукт в разработке

e)

готовая продукция

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