“A measure of the ability of an organisation to supply customers without delay” is the best defini-tion of which of the following:
International Standard Book Number (ISBN) is a unique international identification system for each product form or edition of a monographic publication published or produced by a specific publisher. ISBN is an example of...?
A manufacturer aims at increasing the service levels to 99% from 97% through expanding the safety stock. Safety stock can be used to accommodate which of the following?
1. Variability of stock turn
2. Variability of holding costs
3. Variability of demand
4. Variability of lead time
In inventory management, the cost of insurance and taxes are included in which group?
The amount of inventory available at the start of an accounting period is known as...?
Which of the following statements holds true about inventory holding costs?
"Open stock plus purchases minus closing stock" is the formula of which of the following?
Which of the following best defines ‘exponential moving average’?
Which of the following are features of product codes?
1. Product codes link to products' characteristics
2. A product code must comply with international standards
3. Many internal processes use the product codes as facilitators
4. There are no duplicate product codes
What is the stock turn for a store holding products to the value of £250,000 with annual sales of these products amounting to £1,000,000?
When purchasing a capital asset, an organisation should analyse the costs and benefits that the asset may bring. Which of the following factors are considered in cost-benefit analysis? Select TWO that apply.
A logistics company has a 2-story warehouse in the suburban area. The goods receiving area and dispatch area are located on the ground floor only. There is a lift connecting the two floors. The daily operations of the warehouse are quite busy. Which of the following would the best arrangement for this warehouse?
A supermarket calculates that the average holding cost for an item is $1.50 per cubic meter per day. A beer pallet which has volume of 0.5 cubic meter will be stored for 5 days. What is the holding cost of this beer pallet?
Which among the following are the tools for reducing acquisition costs in purchasing?
1. Procurement card
2. Automated Storage & Retrieval System
3. Porter's value chain
4. P2P system
Which of the following is another name for scheduled (routine) maintenance?
Toll Group has thousands of end-of-life IT assets that need to be disposed of. The senior manage-ment of Toll Group is largely concerned about sustainability in waste management, especially electronic waste. Before selecting a supplier to manage the process, the procurement team is required to assess the environmental risks regarding disposal of the assets. Risk assessment is basically based on the measurement of which factors?
1. Impact
2. Reward
3. Surveillance
4. Likelihood
Practice of unloading goods from inbound delivery vehicles and loading them directly onto out-bound vehicles is known as ...?
In a manufacturing facility, which types of inventory have the lowest value?
1. Finished goods
2. Secondary components
3. Work in progress
4. Raw materials
Which of the following are subjective forecasting techniques? Select TWO that apply.
To improve the security of a warehouse, alarm systems are commonly used. Which of the following is an important part of these systems?