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What would be the estimated total cost of ownership of this freezer if the restaurant owner buys the extended warranty package?
A restaurant needs to buy a new freezer. The owner applies total cost of ownership model to calculate the life-time cost of the freezer. This equipment has a price tag of $1,000, the supplier can offer free delivery if the restaurant pays off immediately. Estimated electricity consumption of the freezer...
In the periodic review system, the order quantity is the same for each order. Is this statement true?
In the periodic review system, the order quantity is the same for each order. Is this statement true?A . No, the next order quantity must be larger than the previous oneB . No, the inventory position at each review point differs from each otherC . Yes, in periodic review system...
XYZ Ltd organises a meeting in order to decide on the safety stock level of a strategic material which is used in XYZ latest product - DMD. To do this, they must forecast the future demand for this new product. In the meeting, external consultants are invited to join with cross-functional team. Each person of the group anonymously replies to questionnaires and subsequently receives feedback in the form of a statistical representation of the "group response," after which the process repeats itself. The goal is to reduce the range of responses and arrive at something closer to expert consensus. XYZ Ltd is using which forecasting method?
XYZ Ltd organises a meeting in order to decide on the safety stock level of a strategic material which is used in XYZ latest product - DMD. To do this, they must forecast the future demand for this new product. In the meeting, external consultants are invited to join with...
Which of the following is often created by each business and commonly used for the purpose of inventory management?
Which of the following is often created by each business and commonly used for the purpose of inventory management?A . SKUB . ISBNC . Harmonised systemD . FDA product codeView AnswerAnswer: A Explanation: Organisations often create their own stock keeping unit (SKU) numbering system, which may or may not have...
Which of the following would the best arrangement for this warehouse?
A logistics company has a 2-story warehouse in the suburban area. The goods receiving area and dispatch area are located on the ground floor only. There is a lift connecting the two floors. The daily operations of the warehouse are quite busy. Which of the following would the best arrangement...
Which of the following is the material handling equipment which uses the suction force to lift an item?
Which of the following is the material handling equipment which uses the suction force to lift an item?A . Vacuum lifterB . Sack truckC . DollyD . Pallet stackerView AnswerAnswer: A Explanation: VACUUM LIFTER uses the vacuum pad which attaches itself to a product. The suction force al-lows the product...
Which of the following best describes the relationship between a service level and safety stock?
Which of the following best describes the relationship between a service level and safety stock? A. A safety stock is not always required to achieve a required service level B. A service level decreases in proportion to a decrease in safety stock C. When safety stock is zero the service...
Which of the following methods can address the issues of these MRO items?
Resevoir Inc runs several oil refineries across the country. These refineries require heavy investment, particularly in maintenance, repair and operating (MRO) inventory. But the inventory turnover rate of these MRO items are low, while some items have expired date, which increases the risks of obsolescence. Which of the following methods...
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...
Which of the following allow an organisation to have more flexible space for storage by leveraging the facilities of other parties? Select TWO that apply.
Which of the following allow an organisation to have more flexible space for storage by leveraging the facilities of other parties? Select TWO that apply.A . Eliminating dead stock or inventoryB . Temporary warehousingC . Installing double-deep pallet rackingD . Consignment stockingE . Adopting carousel-type storageView AnswerAnswer: B, D Explanation:...
