Business Quiz: Inventory Management- III
(238).jpg "Business Quiz: Inventory Management- III")
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- 1.Which of the following statements is most accurate?
- A.
About 20% of the items will usually account for about 80% of the total value
- B.
A items should have the loosest possible control
- C.
The general rule for using the ABC approach is to have plenty of everything in stock
- D.
C items account for about 50% of the total value
- 2.Which of the following statements is best?
- A.
A items usually account for about 50% of the total usage value
- B.
About 50% of the items usually account for 5% of the value
- C.
C items should be given top priority in inventory management
- D.
All inventory items should be managed in the same way
- 3.Which is the best statement regarding floating location systems?
- A.
Goods are always stored in the same location
- B.
The same SKU may be stored in several locations at the same time
- C.
An informal information system can be used
- D.
The system is appropriate for all warehouses
- 4.Which of the following is a major objective of distribution inventory management?
- A.
To provide the required level of customer service
- B.
To minimize the costs of warehouse space
- C.
To always have enough of everything on hand so there are no stockouts
- D.
To minimize labor costs
- 5.Which of the following is not an activity in a physical distribution system?
- A.
Distribution inventory
- B.
Protective packaging
- C.
Shop floor control
- D.
Order processing
- 6.Which of the following activities is not considered a function of physical distribution?
- A.
Transportation
- B.
Production control
- C.
Distribution inventory
- D.
Warehousing
- 7.Which of the following statements is best?
- A.
Physical distribution provides a bridge between marketing and production
- B.
Physical distribution is a factor creating customer demand
- C.
Replenishment orders to replace field warehouse stocks will not affect production
- D.
Both A and B are true
- 8.Considering the service desired and the relative cost of the item, which of the following would you most likely ship by truck?
- A.
Regular shipments of cut flowers direct to a florist shop
- B.
Regular shipments of iron ore
- C.
Regular shipments of grain
- D.
Emergency maintenance parts
- 9.Total line-haul costs will vary directly with which of the following?
- A.
The distance moved
- B.
The packaging
- C.
Customer discounts
- D.
The perishability of the goods
- 10.What is the name for the consolidation of several units into a larger unit for less handling?
- A.
Unitization
- B.
Consolidation
- C.
Cube utilization
- D.
Packaging
Questions: 10 | Attempts: 158962 | Last updated: Oct 25, 2021
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