What term describes a method used to account for inventory, where the oldest produced items are recorded as sold first?
In a manufacturing organisation, which of the following explains an 'indirect' stock classification of items?
To improve the security of a warehouse, alarm systems are commonly used. Which of the following is an important part of these systems?
Which of the following are recognised as disadvantages of ERP systems? Select TWO that apply.
RFID, or Radio Frequency Identification, is fast emerging as a major commercial technology. Like every new technology, it has advantages and disadvantages. An advantage of using RFID is that...
Your company has established the number of new warehouses it requires and the locations it wishes to build them. The next step is to think about the structural design and capacity. There are different factors to consider in getting these things correct. Which of the following factors can influence the design of a new warehouse facility?
RFID uses radio frequencies for the purpose of identification and tracking of assets. Which of the following are disadvantages of using RFID? SelectTHREEthat apply.
MRP software is a powerful tool for managing material requirements of manufacturing processes. To keep the software function well, an organisation must have appropriate input data. Which of the following are the inputs of MRP software? Select THREE that apply.
Holding inventory is key to ensure that an organisation can maintain production and meet customer demands. Which of the following are classes of inventory? SelectTHREEthat apply.
XYZ Ltd organises a meeting in order to decide on the safety stock level of a strategic material which is used in XYZ latest product - DMD. To do this, they must forecast the future demand for this new product. In the meeting, external consultants are invited to join with cross-functional team. Each person of the group anonymously replies to questionnaires and subsequently receives feedback in the form of a statistical representation of the "group response," after which the process repeats itself. The goal is to reduce the range of responses and arrive at something closer to expert consensus. XYZ Ltd is using which forecasting method?
A manufacturer is making a plan for strategic safety stock. To do so, they must analyse the proba-bility of a stock out occurring and the cost impacts if it does. Which of the following are typical costs the manufacturer may incur in 'out of stock' event? Select TWO that apply.
A brewery sells its beer in aluminum cans. It recycles the cans by using contractors to collect and mold the used cans. This is an example of...?
What advantage can the use of ABC classification of stock provide in warehouse design?
When designing the layout of a warehouse or stores area, one of the factors to consider is the width of the aisles between the racking. Which of the following is a main consideration when calculating the aisle width?
The optimum balance in the standard ISO 18602:2013 (Packaging and the environment — Optimi-zation of the packaging system) considers which of the following factors?
1. Environmental impact of losses due to lack of packaging
2. The process for packaging design, including material selection
3. Procedures and requirements for packaging that are suitable for organic recycling
4. Environmental impact of excess packaging
Stockyards are suitable for specific materials with which of the following characteristics? SelectTWOthat apply.
Your employers have expanded rapidly over the past five years and have acquired a number of smaller companies in the same industry. Unfortunately, all of the companies purchased have manual inventory systems. Your employer is setting up a computerised inventory control system and wishes to ensure that all stock is classified under the appropriate headings. Under what classification would semi-finished goods be classified?
Which of the following statements represent a definition for 'obsolescence' in inventory management? SelectTWOthat apply.
A local hospital has a highly complex piece of medical equipment delivering proton beam therapy that only one supplier in the world manufactures. Owing to the specialist nature of the equipment, the patient waiting list is extremely long. It is therefore essential that the equipment failure downtime is kept to an absolute minimum, as it would have a negative impact on patient treatment delays. Due to the complex nature and essential need of the equipment to be in continual use, which of the followingpackages will offer the most protection in ensuring reliability and reduced downtime arising from equipment failures throughout its lifetime?
XYZ Ltd is a retailer in the US. Their customers' demand for Thanksgiving and Christmas decora-tions usually rises in the end of the year. This irregular demand results in more required storage space for finished goods during peak seasons. Which of the following are possible solutions for dealing with required additional space?
1. Maximising aisle width
2. Keeping high buffer stock throughout the year
3. Maximising flexibility in warehouse layout
4. Installing mezzanine floor
The Four Counties hospital in Norway is experiencing financial pressures. The procurement team is looking for the best approach to procure patient equipment that is critical and is often required at very short notice. Which of the following techniques would allow the hospital to access the stock at short notice, but without paying for it until it is used?
The selection of the correct type of material handling equipment is important. If the width of the gangway between the racking in a warehouse is 2.4 meters (8 feet), what type of material handling equipment would be suitable?
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 electronicwaste. 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
Which of the following is often created by each business and commonly used for the purpose of inventory management?
An organisation may incur additional costs in stockout events. Which of the following is an exam-ple of costs of inventory stockouts?
Manufacturing resources planning (MRP II) was developed from material requirement planning (MRP). Which of the following is the additional input that is available in MRP II but does not ap-pear in MRP?
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 lists all components, ingredients, and materials required to produce the final product?
The minimal total cost is always achieved when there is only one warehouse. Is this statement true?
Assuming that all other factors are constant except one, the net present value of a capital expendi-ture increases when...?
XYZ Ltd is a large retailer who offers a range of products with different margins. The warehouse manager suggests that different product groups should have different level of safety stock. The appropriate level of safety stock is typically determined by...?
A manufacturing organisation has a large volume of raw material stock now viewed as redundant. Which of the following is the most appropriate process for the organisation?
A procurement manager has agreed a contract for the acquisition of a piece of capital equipment and has negotiated a staged payment contract of 30% with order, 30% on delivery, and the remaining 40% on acceptance testing. Was this the right thing to do?
Which of the following are typical characteristics of 2D barcodes? Select TWO that apply.
Which of the following allow the operators to access higher levels in warehouse facility? 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?
Which of the following best describes what happens when order volumes from customers increase and multiply through the supply chain?
A major investment bank is planning to purchase a complex banking system that will interface with multiple applications at varying times of the day. Before deploying the system, there are various levels of testing that must be performed through joint testing between the in-house team and off-shore testing consultants. The testing will be performed in a resource-constrained shared environment and managed by the on-shore development team. The costs for testing are generally classified as...?
Which of the following is the most suitable container of fasteners (screws, nails, nuts and bolts,...)?
Which of the following should be considered when an organisation plans for disposing obsolescent and redundant stock? Select TWO that apply.
Which of the following would be considered independent demand items of stock for a supplier that is manufacturing laboratory imaging equipment? SelectTWOthat apply.
A retailer wants to improve its service level in inventory management from 95% to 97%. Which of the following is the best course of action?
To make loading/unloading more effective and efficient, which feature should be included in vehi-cle dock design?