Inventory Control – End of Section Assessment

Question 1 of 9

1. Question

An inventory control system is a system that encompasses all aspects of managing a company’s inventory. Select the correct aspects involved in an inventory control system fr0m the following list.

Turnover
Receiving
Human Resources
Purchasing
Security
Re-ordering
Tracking
Warehousing and storage
Safety
Shipping

Question 2 of 9

2. Question

A Warehouse Management System should support which operations within a warehouse? Select True or False against each of the following:

Security –

Put-Away –

Health & Safety –

Order Processing –

Replenishment –

Receiving –

Human Resources –

Choose From: True or False

Question 3 of 9

3. Question

With regard to Inputs, select the missing key words from the following statement:

Inputs are essentially planned in the amount of that exists within the organisation. The primary planned increase in inventory that exists within an organisation is goods from suppliers and .

Choose From: Vendors, Managers, Purchased, Received, Inventory, Production, Decreases, Increases

Question 4 of 9

4. Question

There are numerous reasons for stock errors to occur during the inventory control process. Select the correct answers from the following:

Wrong Locations
Picking Errors
Incorrect Orders
Transport Delays
Incorrect Receipts
Obsolescence
Pilferage
Damage

Question 5 of 9

5. Question

Auditing Inventory is essential and can take place at various points throughout departments and the year and for a number of reasons. There are three basic methods for counting inventory. Select the correct three methods from the following:

Perpetual Counting
Perplexed Counting
Periodic Counting
Cycle Counting
Cylindrical Counting

Question 6 of 9

6. Question

Management of the inventory is often based on a technique referred to as the ABC analysis. From the following list, select the principles which the ABC analysis relies upon.

Pareto’s Law (80/20 rule)
Pareto’s Law (60/40 rule)
ABC’s Law (50/50 rule)

Question 7 of 9

7. Question

With regard to Outputs, select the missing key words from the following statement.

Outputs are essentially planned in the amount of inventory that exists within the organisation. The primary decrease in inventory that exists within an organisation is inventory that is despatched to , whether these are internal or external to the organisation.

Choose From: Decreases, Increases, Unplanned, Planned, Production, Suppliers, Customers

Question 8 of 9

8. Question

What areas of a business is concerned with the Warehouse Management System? Select the correct five answers from the following:

Forecasting
Human Resources
Transport
Security
Sales
Production
Purchasing
Health & Safety

Question 9 of 9

9. Question

There are many reasons for errors in Inventory and several codes used for the adjustment process. Match the Adjustment Codes to the correct meaning.