Chapter 6 Economic Order Quantity EOQ provides number
Chapter 6
Economic Order Quantity (EOQ) provides _____ number of units to order. a. Minimum b. Maximum c. Optimum d. None of the above
Economic Order Quantity (EOQ) provides _____ number of units to order. a. Minimum b. Maximum c. Optimum d. None of the above
Cost associated with ordering and receiving goods: a. b. c. d. Procurement cost Inventory cost Holding cost None of the above
Cost associated with ordering and receiving goods: a. b. c. d. Procurement cost Inventory cost Holding cost None of the above
Holding cost is also known as : a. Receiving cost b. Carrying cost c. Producing cost d. Design cost
Holding cost is also known as : a. Receiving cost b. Carrying cost c. Producing cost d. Design cost
Procurement cost is obtained by plotting ______ against ordered quantity. a. b. c. d. Cost Investment Profit None of the above
Procurement cost is obtained by plotting ______ against ordered quantity. a. b. c. d. Cost Investment Profit None of the above
Purchasing is one of the function of …. . management a. b. c. d. Production Materials Design None of the above
Purchasing is one of the function of …. . management a. Production b. Materials c. Design d. None of the above
……. means procuring goods and services. a. Purchasing b. Selling c. Inventory d. None
……. means procuring goods and services. a. Purchasing b. Selling c. Inventory d. None
Which is not the cost concerned with EOQ? a. b. c. d. Procurement Cost Inventory Carrying Cost Total Cost Primary Cost
Which is not the cost concerned with EOQ? a. Procurement Cost b. Inventory Carrying Cost c. Total Cost d. Primary Cost
In a graphical method of EOQ the cost represented as straight line is: a. b. c. d. Procurement Cost Inventory Carrying Cost Total Cost None
In a graphical method of EOQ the cost represented as straight line is: a. Procurement Cost b. Inventory Carrying Cost c. Total Cost d. None
What is advantage of EOQ mode? a. b. c. d. Material is available quickly Effective utilization of inventory Both a and b None
What is advantage of EOQ mode? a. b. c. d. Material is available quickly Effective utilization of inventory Both a and b None
Why purchasing is required? a. b. c. d. To procure materials at lowest cost To maintain standards of quality Both a and b None
Calling quotations, order followup, material receiving, placing PO are the functions of a. b. c. d. Quality department Purchase department Inventory department Marketing department
Calling quotations, order follow-up, material receiving, placing PO are the functions of a. Quality department b. Purchase department c. Inventory department d. Marketing department
Which is the first step in purchasing? a. Decision for purchasing b. Material requisition c. Finalization of supplier d. Market analysis
Arrange the functions 1. Decision of purchase 2. Market analysis of suppliers 3. Material requisition 4. Purchase order 5. Receive materials 6. Finalize supplier a. b. c. d. 1 -2 -3 -4 -5 -6 2 -4 -6 -1 -3 -5 3 -1 -2 -6 -4 -5 3 -2 -1 -6 -5 -4
Arrange the functions of purchasing 1. Decision of purchase 2. Market analysis of suppliers 3. Material requisition 4. Purchase order 5. Receive materials 6. Finalize supplier a. b. c. d. 1 -2 -3 -4 -5 -6 2 -4 -6 -1 -3 -5 3 -1 -2 -6 -4 -5 3 -2 -1 -6 -5 -4
PO in materials management means? a. Purchase Order b. Post Office c. Placement Order d. None
PO in materials management means? a. Purchase Order b. Post Office c. Placement Order d. None
Following is not modern materials management technique. a. MRP b. ERP c. SAP d. 5 S
Following is not modern materials management technique. a. MRP b. ERP c. SAP d. 5 S
MRP in materials mgnt stands fora. Maximum Retail Price b. Material Resource Planning c. Maximum Resource Planning d. None
MRP in materials mgnt stands fora. Maximum Retail Price b. Material Resource Planning c. Maximum Resource Planning d. None
Which is the input to MRP? a. b. c. d. On hand Inventory Bill of material Both None
Which is the input to MRP? a. b. c. d. On hand Inventory Bill of material Both None
The …. Provides information about when to order and how much to order a. MRP b. ERP c. Inventory d. None
The …. Provides information about when to order and how much to order a. MRP b. ERP c. Inventory d. None
One of the functions of MRP: a. b. c. d. Forecast of materials requirement Reducing waste Economy in buying All of these
One of the functions of MRP: a. Forecast of materials requirement b. Reducing waste c. Economy in buying d. All of these
… is the relationship between demand for one item and demand for a higher level assembly. a. b. c. d. Independent demand Dependent demand MRP None of these
… is the relationship between demand for one item and demand for a higher level assembly. a. Independent demand b. Dependent demand c. MRP d. None of these
An example of an item of independent demand. a. b. c. d. Wheels for bike Tools Headlamps for car None of these
An example of an item of independent demand. a. Wheels for bike b. Tools c. Headlamps for car d. None of these
ERP Meansa. b. c. d. Enterprise Resource Planning Entry Restricted Products Energy Resource Products None
ERP Meansa. b. c. d. Enterprise Resource Planning Entry Restricted Products Energy Resource Products None
____ uses all the resources in systematic way. a. MRP b. ERP c. MRP II d. None
ERP vendor isa. SAP b. ORACLE c. PEOPLESOFT d. ALL
ERP vendor isa. SAP b. ORACLE c. PEOPLESOFT d. ALL
List of ERP Modules a. b. c. d. e. f. ERP Finance Module ERP HR Module ERP Purchase Module ERP Production Module ERP Sales and Marketing Module ERP Inventory Module
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