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Which of the following best defines ‘exponential moving average’?
Which of the following best defines ‘exponential moving average’?A . A forecasting technique where the average is calculated by dividing the sum of the val-ues by the number of values B. A process by which the reorder of an item is triggered by the inventory level dropping to a predetermined...
Among different types of costs associated with inventory, the opportunity cost of the investment tied up in inventory belongs to which of the following?
Among different types of costs associated with inventory, the opportunity cost of the investment tied up in inventory belongs to which of the following?A . Acquisition costs B. Purchase price C. Holding costs D. Costs of stockoutsView AnswerAnswer: C Explanation: Direct and indirect costs of holding inventory include the following:...
Bulk loose coal that requires massive handling system should be stored in which area?
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...
Which of the following is the correct statement about total ordering cost?
Which of the following is the correct statement about total ordering cost?A . Rise as the average stock level rises B. Equal the number of orders placed times the cost of placing an order C. Rise as the order quantity rises D. Fall with the per period usage rateView AnswerAnswer:...
Do all types of warehouses require access to daylight to reduce the cost of electricity?
Do all types of warehouses require access to daylight to reduce the cost of electricity?A . No, because only ventilation can help to reduce the humidity in the warehouse B. No, because some types of stock are sensitive to sunlight C. Yes, because sunlight sterilises inventories in damp conditions D....
The amount of inventory available at the start of an accounting period is known as...?
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...
This is an example of...?
A brewery sells its beer in aluminum cans. It recycles the cans by using contractors to collect and mold the used cans. This is an example of...?A . Closed-loop recycling B. Carbon recycling C. Open-loop recycling D. ReuseView AnswerAnswer: A Explanation: There are two main processes of recycling C open...
Which of the following is essential to effective implementation of just-in-time?
Which of the following is essential to effective implementation of just-in-time?A . Regular machine changeovers B. Larger warehouse for larger amount of inventory C. No need for smoothing production D. Strong links between the suppliers and the buying organisationView AnswerAnswer: D Explanation: For JIT manufacturing to succeed, companies must have...
Which type of codes can a barcode laser scanner (linear scanner) read?
Which type of codes can a barcode laser scanner (linear scanner) read?A . Numerical code B. QR code C. Aztec code D. 1D barcodeView AnswerAnswer: D Explanation: One-dimensional (or 1D) barcodes systematically represent data by varying the widths and spacings of parallel lines. These include some of the most traditional...
The amount of inventory available at the start of an accounting period is known as...?
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...
