Planning Inventory Levels – End of Section Assessment
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Question 1 of 9
1. Question
An organisations Stock rotation policy determines the process for use of stock to ensure that supplies do not remain in stock longer than their shelf life. There are two main stock rotation policies, select the correct two from the following list.
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Question 2 of 9
2. Question
When determining the Re-order Point (ROP) what three factors need to be taken into account? Select the correct three from the following:
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Question 3 of 9
3. Question
With regard to Push inventory Systems, select the correct missing words from the following statement:
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The push system of inventory control involves inventory needs to meet demand. Companies must predict which customers will purchase along with determining what of goods will be purchased.
Choose From: Supplier, Customer, Quantity, Cost, Meeting, Forecasting, Products
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Question 4 of 9
4. Question
In a push inventory system, scheduling and moving material and work through the factory is a three stage activity. Select the sequence of the stages:
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Order
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Expedite
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Launch
View Answers:
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Question 5 of 9
5. Question
With regard to a Pull Inventory System, select True or False against each of the following statements:
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An example of a Pull inventory control system is the Just-in-Time –
With a Pull system there will be excess of inventory that needs to be stored –
Within a Pull system it is highly possible to run into ordering dilemmas –
The Pull inventory control system begins with a customer’s order-
Choose From: True or False
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Question 6 of 9
6. Question
The Bullwhip effect can have a significant effect on Inventory levels. From the following paragraph, select the correct missing words:
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The effect (more commonly known today as the Bullwhip effect) is a major cause of costs and inefficiencies in supply chain. It describes how small in demand at customer level are as orders pass up the supply chain through distributors, , and suppliers.
Choose From: Forrester, Manufacturers, Foster, Higher, Lower, Costs, Fluctuations, Customers, Amplified, Simplified
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Question 7 of 9
7. Question
The concepts of independent and dependent demand are important in selecting appropriate inventory management techniques. Match the correct description against the type of demand:
Sort elements
- Dependent Demand
- Independent Demand
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An item whose demand is tied directly to the demand or production level of another item and the systems for managing them
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The demand for many items does not rely upon the demand for other times
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Question 8 of 9
8. Question
This flow of material from customer to supplier is referred to as ‘reverse logistics’. Select the correct reverse logistics activities from the following:
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Question 9 of 9
9. Question
Forecasting can be divided into two categories. Select the correct two categories from the following:
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