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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 costsB . Purchase priceC . Holding costsD . Costs of stockoutsView AnswerAnswer: C Explanation: Direct and indirect costs of holding inventory include the following:...
Autonomous maintenance
Autonomous maintenanceA . 1 and 3 onlyB . 2 and 4 onlyC . 1 and 2 onlyD . 2 and 3 onlyView AnswerAnswer: B Explanation: Total productive maintenance (TPM) is an innovative concept in the manufacturing industry that evolved from the idea of preventive maintenance to adopt practices of productive...
Environmental impact of excess packaging
Environmental impact of excess packagingA . 2 and 3 onlyB . 2 and 4 onlyC . 1 and 3 onlyD . 1 and 4 onlyView AnswerAnswer: D Explanation: ISO 18602:2013 is about Packaging and the environment - Optimization of the packaging system. ISO 18602:2013 specifies requirements and a procedure for...
To test the product durability
To test the product durabilityA . 1 and 2 onlyB . 3 and 4 onlyC . 2 and 3 onlyD . 1 and 4 onlyView AnswerAnswer: C Explanation: It would be really convenient if we could just hand our products directly to the customers, but that’s not possible. Packaging needs...
Which of the following are main objectives of warehouse operations? Select TWO that apply.
Which of the following are main objectives of warehouse operations? Select TWO that apply.A . To ensure stock available when customers demandB . To create sufficient space for redundant stockC . To minimise stock loss and deteriorationD . To generate check digits for a product codeE . To maintain the...
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 stockB . Work-in-progressC . Opening stockD . 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 pricing appendix is an example of...?
In the Appendix A of a long-term supply contract of Bulk Drug Substance, both parties agree that "The reference price for Bulk Product at the specification, per gram, shall be US$10. The unit price for Bulk Product for a specific Purchase Order shall be computed by multiplying the above- specified...
Which of the following is an assumption of economic-order-quantity model?
Which of the following is an assumption of economic-order-quantity model?A . The quantity ordered can vary at each reorder pointB . Demand, ordering costs, and carrying costs are uncertainC . No inventory stockouts occurD . The purchasing cost per unit is affected by the order quantityView AnswerAnswer: C Explanation: Economic...
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 codeB . QR codeC . Aztec codeD . 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...
Which of the following is NOT an improvement available in ERP II in compare with ERP?
Which of the following is NOT an improvement available in ERP II in compare with ERP?A . ERP II systems are closed and silo-workingB . ERP II enables the organisation to collaborate with trading partners across the supply chainC . ERP II crosses all sectors and segments of business, including...
