5. Placing a new order whenever the inventory level drops to a specific re-order point is kn a. Periodic review b. Continuous review c. standard review d. deviational review
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- i. ii. iii. features of With examples from a manufacturing company, identify FIVE information that is provided at the operational level of management. State TWO features of a control system that is used at the tactical level of management in a commercial entity. and State explain FIVE features of specific order costing methods used in cost ascertainment.Question 1: Which of the following best defines " stockout costs"? options: A) They are physical goods used in operations. B) They are costs associated with retrieving inventory items from a workshop C) They are costs associated with interruptions to assembly lines D) They are associated with inventory being unavailable when needed to meet demand. E) None of the above. Question 2 At many LCBO stores in Ontario, Hennessy Cognac is kept in a clear locked case. Based on this information, according to the ABC Inventory Analysis method, is Hennessy most likely to be classified as an A item, a B item, a C item, or none of these? Question 2 options: A) C item B) None C) A item D) B item Question 3 What purpose does Rent the Runway's high-speed reverse logistics system serve? options: A) It allows the customers to return inventory to the fulfillment centre in record time. B) It allows the company to send inventory out to recipients (customers) in record time. C) It allows customers to return…13. Which of the following orders is most useful to short sellers who want to limit their potential losses? a. limit order b. discretionary order c. limit loss order d. stop buy order e. none of these
- Holding stock of required quantity by avoiding ____________ and ___________. a. Planning and control b. Overstocking and stock outs c. Deterioration and obsolescence d. Timeliness and reliabilityQ4// A company producing compressors, decided to make a particular item in batches. The following information is available: • Receiving and inspecting = 10$ per order Verifying and payment of bill = 10$ per order • Other ordering and set up cost = 25$ per order • Consumption rate of item = 65 item per month %3D • Insurance = 3 $ per item in year • Storage and handling cost = 2$ per item in year • Taxes = 3 $ per item in year • Other inventory carrying cost = 4$ per item in year • Item cost = 5$ per item Calculate the Economic Batch Quantity, the number of lots, the total cost of one year requirement and what is the cycle time of order.Case Study 4: Inventory Management. I) A Furniture manufacturing company uses 1200 units of an item annually and the cost price is $250 per unit. The ordering costs are $600 per order and holding costs are $4.00 per item per annum. Required: Calculate the economic order quantity. Determine the number of orders per annum. Determine the annual stock holding cost. Determine the annual ordering cost.
- 5. Which of the following inventory technique is appropriate for the classification of inventory depending on the necessity of spares for smooth running of the production? a. ABC analysis b. VPN analysis c. None of the options d. VED analysis44.A decrease in the lead time would reduce the a. re-order point b. economic order quantity c. safety stock d. carrying cost e. ordering costQ6) Tracking signals track changes in control limits can lead to an increase in cumulative errors can capture changes in trends track changes in demand updates none of the above Q7) In an inventory problem, the fixed ordering costs are increased but all other factors remain the same. This change will increase the optimum order quantity change the demand pattern reduce the optimum order quantity change the stockout costs increase the optimum lead time Q8) In an MRP system, the lead time to acquire or produce components is used in calculating net requirement from gross requirements net requirements from available planned order releases from planned order receipts lot sizes for scheduled orders none of the above
- |Product D is stocked only at the AMC Chemical Company's Dallas warehouse and at the company's plant warehouse in Akron. The sales director has forecast product sales from the Dallas warehouse to be 40 units per week for the next 8 weeks. Product D is manufactured at the firm's Akron plant using 2 units of ingredient X per unit of product D. Information: Ingredient X Projected available balance: 4 Units Schedule receipt in week 1: 320 units Safety stock quantity: 2 Product D in Dallas Product D in Plant Warehouse Warehouse Projected available balance: 85 Units Safety stock quantity: 5 units Lead time: 2 weeks Lot for lot size quantity Projected available balance: 2 Units Schedule receipt in week 1: 46 units Safety stock quantity: 8 units units Lead time: 1 week Lead time: 4 weeks Lot for lot size quantity Lot size quantity: 320 units Prepare the DRP records for product D at the Dallas warehouse and the plant warehouse as well as the MRP record for ingredient X (Assume ingredient X is…41- Economic order quantity is the quantity at which _________________. a. Ordering costs are high and Carrying costs are less b. Ordering costs and Carrying costs are same c. Carrying costs are high and Ordering costs are less d. Total costs are high21- Which one of the following represent FIFO method of inventory evaluation? a. Old items remain in inventory b. Old merchandise is sold first c. New merchandise is sold first d. Average number of goods are sold