Inventory And Warehouse Management Quiz
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What is an inventory and warehouse management system? Do you want to test your knowledge about it? That's great! We have a simple quiz consisting of MCQs only based on inventory management and warehouse management. These two are the main facets of managing stock. Warehouse management software involves the process of receiving, storing, and tracking inventory in a warehouse. If you know about this tool in detail, the quiz will not be hard for you. Why don't you check it out on your own? Play the quiz, then.
- 1.
Goods movements in SAP ERP are distinguished between goods receipts, goods issues, stock transfers and transfer posting. Which of the following statements are true regarding transfer postings and stock transfers? (3 correct answers)
- A.
Stock transfers are used for releasing and transferring a material from one storage location to another.
- B.
Stock transfers can take place within a plant or between two different plants.
- C.
Transfer postings are used to changes stock identification or qualification of a material.
- D.
Stock transfers are used to changes stock identification or qualification of a material.
- E.
Transfer postings are always associated with a physical movement of a material.
Correct Answer(s)
A. Stock transfers are used for releasing and transferring a material from one storage location to another.
B. Stock transfers can take place within a plant or between two different plants.
C. Transfer postings are used to changes stock identification or qualification of a material.Explanation
Transfer postings are used to change the stock identification or qualification of a material. Stock transfers are used for releasing and transferring a material from one storage location to another, and they can take place within a plant or between two different plants. Transfer postings are not always associated with a physical movement of a material.Rate this question:
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- 2.
A transfer posting usually refers to a change in a material's stock type. In a transfer posting, the material can remain in its original storage bin or be transferred, thus, do not need to be moved. Which of the following statements are true regarding a material-to-material transfer posting? (2 correct answers)
- A.
A Material to Material transfer posting is always carried out in a one-step procedure.
- B.
A Material to Material transfer posting can only be carried out from the unrestricted-use stock of the issuing material into the quality-inspection stock of the receiving material.
- C.
One material document is created. For every item you enter, two material document items are created.
- D.
No accounting document is created.
- E.
The materials involved must not have the same base unit of measure.
Correct Answer(s)
A. A Material to Material transfer posting is always carried out in a one-step procedure.
C. One material document is created. For every item you enter, two material document items are created.Explanation
A material-to-material transfer posting is always carried out in a one-step procedure, meaning that the transfer is completed in a single transaction. One material document is created for the transfer, and for every item entered in the transfer, two material document items are created. This allows for accurate tracking and documentation of the transfer.Rate this question:
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- 3.
A Stock Transfer posting is the physical movement of inventory. They can occur at three different levels. Those are... (3 correct answers)
- A.
Stock Transfer from client to client.
- B.
Stock Transfer from company code to company code.
- C.
Stock Transfer from controlling area to controlling area.
- D.
Stock Transfer from business area to business area.
- E.
Stock Transfer from plant to plant.
- F.
Stock Transer from storage location to storage location within the same plant.
Correct Answer(s)
B. Stock Transfer from company code to company code.
E. Stock Transfer from plant to plant.
F. Stock Transer from storage location to storage location within the same plant.Explanation
The explanation for the correct answer is that a stock transfer posting can occur between different company codes, different plants, and different storage locations within the same plant. This means that inventory can be physically moved from one company code to another, from one plant to another, and within the same plant from one storage location to another. These transfers help in maintaining accurate inventory records and ensuring that the right stock is available at the right place.Rate this question:
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- 4.
A Stock Transfer posting can be posted from Storage-Location-to-Storage-Location in a one-step procedure. Which of the following statements are true regarding this posting? A Storage-Location-to-Storage-Location Stock Transfer... (3 correct answers)
- A.
Takes place within the same plant
- B.
Can be executed for all stock types using the one-step procedure.
- C.
Creates two material document, containing two material document items per material transferred
- D.
Creates one material document, containing two material document items per material transferred
- E.
Creates one accounting document
- F.
Never creates an accounting document
Correct Answer(s)
A. Takes place within the same plant
B. Can be executed for all stock types using the one-step procedure.
D. Creates one material document, containing two material document items per material transferredExplanation
A Stock Transfer posting that is done from Storage-Location-to-Storage-Location in a one-step procedure takes place within the same plant. It can be executed for all stock types using the one-step procedure. It creates one material document, which contains two material document items per material transferred.Rate this question:
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- 5.
A Stock Transfer posting can be posted from Storage-Location-to-Storage-Location in a two-step procedure. Which of the following statements are true regarding this posting? A Storage-Location-to-Storage-Location Stock Transfer... (4 correct answers)
- A.
Can only be used to transfer materials from unrestricted-use stock of the issuing storage location to the unrestricted-use stock of the receiving storage location
- B.
Creates two separate material documents are created
- C.
Upon goods issue from storage at the issuing point, the system creates one material document with two items
- D.
Upon placement into storage at the receiving point, the system creates one material document with two items.
- E.
Valuation in terms of accounting is not carried out, since the company code does not change
- F.
One accounting document is created
Correct Answer(s)
A. Can only be used to transfer materials from unrestricted-use stock of the issuing storage location to the unrestricted-use stock of the receiving storage location
B. Creates two separate material documents are created
C. Upon goods issue from storage at the issuing point, the system creates one material document with two items
E. Valuation in terms of accounting is not carried out, since the company code does not changeExplanation
A Stock Transfer posting from Storage-Location-to-Storage-Location is used to transfer materials from unrestricted-use stock of the issuing storage location to the unrestricted-use stock of the receiving storage location. This posting creates two separate material documents, with one material document containing two items upon goods issue from the issuing point, and another material document with two items upon placement into storage at the receiving point. Valuation in terms of accounting is not carried out because the company code does not change. Only one accounting document is created.Rate this question:
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- 6.
A Stock Transfer posting can be posted from Plant-to-Plant in a one-step procedure. Which of the following statements are true regarding this posting? A Plant-to-Plant Stock Transfer... (3 correct answers)
- A.
Can only be posted out of unrestricted-use stock
- B.
Effects financial accounting in case the plants involved are assigned to different valuation areas
- C.
Always creates an accounting document
- D.
In case of cross-company code Stock Transfer one accounting document is created
- E.
Valuates the material with the price of the issuing plant
Correct Answer(s)
A. Can only be posted out of unrestricted-use stock
B. Effects financial accounting in case the plants involved are assigned to different valuation areas
E. Valuates the material with the price of the issuing plantExplanation
A Plant-to-Plant Stock Transfer can only be posted out of unrestricted-use stock because the stock being transferred needs to be available for use in the receiving plant. It also affects financial accounting in case the plants involved are assigned to different valuation areas because the valuation of the stock may differ between plants. Additionally, it valuates the material with the price of the issuing plant because the price at which the stock is transferred is based on the issuing plant's valuation.Rate this question:
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- 7.
A Stock Transfer can be carried out with or without Stock Transport Order. Which of the following statements are true regarding this posting? (3 correct answers)
- A.
Integratino with MRP application allows to convert sales orders into Stock Transport Orders
- B.
You can initiate goods receipt at the receiving plant. Thus, goods issue posting in the issuing plant is created subsequently.
- C.
You can post delivery costs and the carrier/forwarder in a Stock Transport Order
- D.
Goods receipt can be posted directly to consumption
- E.
When posting a goods receipt into the warehouse, you can post the material to unrestricted-use and in quality inspection, but not to blocked stock.
- F.
The purchase order history is not utilized
Correct Answer(s)
B. You can initiate goods receipt at the receiving plant. Thus, goods issue posting in the issuing plant is created subsequently.
C. You can post delivery costs and the carrier/forwarder in a Stock Transport Order
D. Goods receipt can be posted directly to consumptionExplanation
The first statement is true because integration with the MRP application allows for the conversion of sales orders into Stock Transport Orders. The second statement is true because when initiating goods receipt at the receiving plant, a goods issue posting is subsequently created in the issuing plant. The third statement is true because it is possible to post delivery costs and the carrier/forwarder in a Stock Transport Order.
The other statements are not necessarily true in all cases. For example, the purchase order history can be utilized in some scenarios1, and the integration with MRP application to convert sales orders into Stock Transport Orders may depend on the specific system configurationRate this question:
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- 8.
Which of the following organizational levels is the central organizational level of Logistics execution application only? (1 correct answer)
- A.
Client
- B.
Company Code
- C.
Plant
- D.
Storage Location
- E.
Warehouse number
- F.
Transportation planning point
- G.
Shipment point
Correct Answer
E. Warehouse numberExplanation
The central organizational level of the Logistics execution application is the Warehouse number. This is because the Warehouse number represents a specific physical location where goods are stored and managed. It is a crucial level for logistics operations as it helps in tracking inventory, managing stock movements, and executing various warehouse processes efficiently. The Warehouse number acts as a central point for organizing and controlling logistics activities within an organization.Rate this question:
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- 9.
A Warehouse number in Logistics Execution is divided in several subareas. Which of the following are subareas of a warehouse number? (4 correct answers)
- A.
Warehouse area
- B.
Storage type
- C.
Storage areas
- D.
Warehouse section
- E.
Picking area
- F.
Storage bins
- G.
Quantum
Correct Answer(s)
B. Storage type
C. Storage areas
E. Picking area
F. Storage binsExplanation
In Logistics Execution, a warehouse number is divided into different subareas to efficiently manage the warehouse operations. Storage type refers to the categorization of storage areas based on specific characteristics or requirements. Storage areas are designated spaces within the warehouse for storing goods. Picking area is a specific section where items are gathered for order fulfillment. Storage bins are individual locations within the warehouse where goods are stored. These subareas play a crucial role in organizing and optimizing the warehouse operations.Rate this question:
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- 10.
The physical inventory process consists of three phases. Those steps are ... (3 correct answers)
- A.
Creation of physical inventory document
- B.
Entry of count
- C.
Block Goods Movements
- D.
Freeze Block Inventory
- E.
Posting of the inventory difference
Correct Answer(s)
A. Creation of physical inventory document
B. Entry of count
E. Posting of the inventory differenceExplanation
The physical inventory process consists of three phases: creation of physical inventory document, entry of count, and posting of the inventory difference. The creation of a physical inventory document involves generating a document that lists all the items to be counted. The entry of count refers to the actual counting of the items and recording the quantities in the system. Finally, the posting of the inventory difference is the step where any discrepancies between the physical count and the system count are adjusted and recorded.Rate this question:
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- 11.
During the physical inventory count you can block goods movements or freeze book inventory. What are the effects of setting these indicators? (3 correct answers)
- A.
When blocking goods movements, you cannot post any changes to the inventory, neither to the physical inventory, nor to the book inventory.
- B.
You set the blocking indicator in the storage location view of the material master.
- C.
When freezing the book inventory, you cannot post any changes to the inventory; neither to the physical inventory, nor to the book inventory.
- D.
When blocking goods movements, you can post goods issues but no goods receipts.
- E.
When freezing the book inventory, you can post goods issue and goods receipts for the particular material. Changes to the book inventory are performed, after the material has been released.
- F.
The freeze book inventory indicator is set in the physical inventory document
Correct Answer(s)
A. When blocking goods movements, you cannot post any changes to the inventory, neither to the physical inventory, nor to the book inventory.
E. When freezing the book inventory, you can post goods issue and goods receipts for the particular material. Changes to the book inventory are performed, after the material has been released.
F. The freeze book inventory indicator is set in the physical inventory documentExplanation
When blocking goods movements, it prevents any changes from being made to the inventory, including both the physical inventory and the book inventory. This can be done by setting the blocking indicator in the storage location view of the material master. On the other hand, when freezing the book inventory, it allows for goods issues and goods receipts to be posted for a specific material. However, any changes to the book inventory can only be made after the material has been released. The freeze book inventory indicator is set in the physical inventory document.Rate this question:
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- 12.
During the physical inventory count you have encountered a difference between the stock quantity and the book quantity. Which of the following statements are true regarding the posting of inventory differences? (3 correct answers)
- A.
Posting the inventory differences can only be carried out by using the list of differences.
- B.
Posting an inventory difference creates one material document for stock number correction, and one accounting document for corrections in accounting management.
- C.
Inventory differences can only be posted, if the difference does not exceed the document tolerance quantity specified in the inventory tolerance group of the employee.
- D.
The document tolerance is defined as total value of quantity differences that is allowed to occur for all items counted by one employee in one period.
- E.
If the difference does not exceed the total document tolerance, but for a particular item the maximum amount per item is exceeded, the user is still can post the difference for this position, if the count was performed for a consumable material.
- F.
The system automatically sets the posting period of the accounting document by using the time of the first count for the physical inventory document.
Correct Answer(s)
B. Posting an inventory difference creates one material document for stock number correction, and one accounting document for corrections in accounting management.
C. Inventory differences can only be posted, if the difference does not exceed the document tolerance quantity specified in the inventory tolerance group of the employee.
F. The system automatically sets the posting period of the accounting document by using the time of the first count for the physical inventory document.Explanation
When posting inventory differences, one material document is created for stock number correction and one accounting document is created for corrections in accounting management. Inventory differences can only be posted if the difference does not exceed the document tolerance quantity specified in the inventory tolerance group of the employee. The document tolerance refers to the total value of quantity differences allowed for all items counted by one employee in one period. If the total document tolerance is not exceeded, but the maximum amount per item is exceeded, the difference can still be posted if the count was performed for a consumable material. The posting period of the accounting document is automatically set by the system using the time of the first count for the physical inventory document.Rate this question:
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- 13.
Which of the following statements is valid for stock transfer? (2 correct answers)
- A.
A stock transfer can be used to transfer materials between storage locations.
- B.
In a storage locatino to storage location transfer order that carried out in a two-step procedure a material document is created.
- C.
After the goods issue posting from the issuing point, the stock is considered as in transfer at the receiving point.
- D.
In a cross-plant transfer financial accounting can be affected.
Correct Answer(s)
A. A stock transfer can be used to transfer materials between storage locations.
D. In a cross-plant transfer financial accounting can be affected.Explanation
A stock transfer can be used to transfer materials between storage locations. This means that materials can be moved from one storage location to another within the same plant using a stock transfer.
In a cross-plant transfer, financial accounting can be affected. This means that when materials are transferred between plants, it can have an impact on the financial accounting records of the company. This could include changes in inventory valuation or cost allocation.Rate this question:
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- 14.
A stock management unit is uniquely characterized by (3 correct answers)
- A.
Stock type
- B.
Batch
- C.
Valuation
- D.
Unit of quantity
- E.
Storage location
Correct Answer(s)
A. Stock type
B. Batch
E. Storage locationExplanation
A stock management unit is uniquely characterized by its stock type, batch, and storage location. The stock type refers to the category or classification of the stock, which can be useful for organizing and tracking inventory. The batch refers to a specific group or lot of items that were produced or received together, allowing for traceability and quality control. The storage location indicates the physical location where the stock is stored, providing ease of retrieval and efficient inventory management. Valuation and unit of quantity are not necessarily unique characteristics of a stock management unit, as they can vary depending on the specific inventory management system being used.Rate this question:
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- 15.
When a goods receipt posting to a storage location is carried out that is subject to warehouse management, which of the following documents are created in the Logistics Execution Sysetm? (2 correct answers)
- A.
Transfer order
- B.
Transfer requirement
- C.
Material document
- D.
Accounting document
Correct Answer(s)
B. Transfer requirement
C. Material documentExplanation
When a goods receipt posting to a storage location is carried out that is subject to warehouse management, two documents are created in the Logistics Execution System. The first document is a transfer requirement, which is a request to move materials from one location to another within the warehouse. The second document is a material document, which is a record of the goods receipt and contains information such as the material, quantity, and storage location. These documents are important for tracking and managing inventory within the warehouse.Rate this question:
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- 16.
Your organization is implementing SAP ERP Logistics Execution. As a project team member, you are responsible for defining and assigning the organizational levels relevant for Logistics Execution. (1 correct answer)
- A.
A transportation planning point can be assigned to a plant.
- B.
Several plant-storage location combinations can be assigned to one warehouse number.
- C.
A plant-storage location combination can be assigned to multiple warehouse numbers.
- D.
A plant-storage location and storage area combination can be assigned to one warehouse number.
- E.
A plant-storage location combination can be assigned to several shipping points.
Correct Answer
B. Several plant-storage location combinations can be assigned to one warehouse number.Explanation
Several plant-storage location combinations can be assigned to one warehouse number. This means that multiple plant-storage location combinations can be grouped together under one warehouse number, allowing for efficient management and control of inventory and logistics activities. This helps streamline operations and improve overall logistics execution within the organization.Rate this question:
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- 17.
How would you describe stock transfers and transfer postings in Inventory Management? (2 correct answers)
- A.
Transfer postings need NOT involve a physical goods movement.
- B.
For both types of transfer, material and accounting documents are always created.
- C.
A stock transfer is used to transfer material from quality inspection to blocked stock
- D.
A stock transport order can be used to enter a stock transfer.
Correct Answer(s)
A. Transfer postings need NOT involve a physical goods movement.
D. A stock transport order can be used to enter a stock transfer.Explanation
Transfer postings in Inventory Management refer to the process of transferring materials from one storage location to another within the same plant. It is not necessary for transfer postings to involve a physical movement of goods. This means that materials can be transferred electronically without physically moving them.
A stock transport order is a document used to initiate a stock transfer between different plants within the same company code or between different company codes. This order can be used to enter a stock transfer, indicating the movement of materials from one location to another.
In both transfer postings and stock transfers, material and accounting documents are always created to record and track the movement of materials within the inventory management system.Rate this question:
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Dec 07, 2023Quiz Edited by
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May 07, 2012Quiz Created by
Inkas
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