L4M7

Which of the following is the Japanese word for ‘billboard’ or ‘signboard’?A . Muda B. Kaizen C. Poka-Yoke D. KanbanView AnswerAnswer: D Explanation: Kanban ( 看板 ) (signboard or billboard in Japanese) is a scheduling system for lean manufacturing and just-in-time manufacturing (JIT). Poka-yoke ( ポカヨケ , [poka yoke]) is...

Which of the following should be considered when an organisation plans for disposing obsolescent and redundant stock? Select TWO that apply.A . Financial costs B. Economic order quantity C. ABC analysis D. Takt time E. Environmental issuesView AnswerAnswer: A, E Explanation: If the planning and mitigation measures fail and redundant...

MRP software is applied to schedule which of the following?A . Tax accounting B. Production processes C. Human resource management D. Executive meetingsView AnswerAnswer: B Explanation: Material Requirements Planning (MRP) software manages material requirements for manufacturing processes. LO 2, AC 2.3

Which of the following correctly describes the triple bottom line?A . Professional, Planet, Profit B. People, Planet, Project C. People, Product, Profit D. People, Planet, ProfitView AnswerAnswer: D Explanation: The triple bottom line is a sustainability framework that examines a company’s social, environment, and economic impact (or People, Planet, Profit)....

The amount of inventory available at the start of an accounting period is known as...?A . Buffer stock B. Work-in-progress C. Opening stock D. Closing stockView AnswerAnswer: C Explanation: Opening stock is the starting amount of inventory that a business has at a fixed moment in time. This could be...

GAP Ltd is a growing retail business. It spends a lot of money on buying stock for sale. However, the procurement process is still largely manual. This manual process contains a lot of tasks that are repeated for each procurement event and time consuming. The company management team decides to...

Which of the following statements is true?A . All indirect supplies are independent demand items B. Number of independent demand items may be derived from the forecast C. Dependent demand items are not directly correlated with production rate D. Car engine is an example of independent demand items in a...

Bulk loose coal that requires massive handling system should be stored in which area?A . Chill hub B. Stockyard C. Heating warehouse D. StoreView AnswerAnswer: B Explanation: Materials that will not easily deteriorate, are generally stored in open or fairly covered areas (stockyard). The materials are usually in bulk, like...

The following are examples of scheduled maintenance except...A . Oil changes and regular servicing B. Overhauling of machine C. Repair signage damage from a recent storm D. Cleaning of tankView AnswerAnswer: C Explanation: Scheduled maintenance is any repair and upkeep work performed within a set timeframe. It details when given...

Which of the following best describes the term ‘periodic review’?A . Items are reviewed and orders placed depending on requirements B. Items are reviewed when the Kanban is triggered C. Items are reviewed when the price is at its lowest D. Items are reviewed as part of an imprest systemView...