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Inventory-control Questions Set 1:

Quiz Mode

In ABC analysis of inventories, 'A' items usually constitute what percentage of the total items?

30%

20%

10%

70%

Solution:

In ABC analysis, the items are ranked in descending order on the basis of their

Usage Values

Cost of one unit

Holding cost

Ordering cost

Solution:

The following data refers to the jobs (P, Q, R, S) which have arrived at a machine for scheduling. Calculate the shortest possible average flow time (in days).

Solution:

What is the term used to describe the amount of time elapsed from the moment an inventory replenishment order is placed and the moment the supplier delivers the goods?

lead time

cycle time

take time

order time

Solution:

In a production system, 4,000 units are produced. The fixed cost is ₹10,000, the total variable cost is ₹12,000, and the total sales are ₹28,000. Determine the quantity to be produced for a profit of ₹16,000.

5,000

6,000

5,500

6,500

Solution:

Consider a situation where small orders are made frequently instead of large orders. Which of the following is true for the cost of inventory in this scenario?

It will decrease

It will remain constant

It will increase

It can either decrease or increase

Solution:

The annual demand for a product is 50,000 units, and the cost for ordering is Rs. 7,000 per order. Consider the model of basic Economic Order Quantity (EOQ). If the value of EOQ is 10,000 units, what is the Annual Inventory Holding cost (in Rs.)?

35,500

35,000

34,500

34,000

Solution:

Which of the following is a true statement about the forecasting model in Inventory control?

It helps in predicting the future growth of the organization

It helps in predicting the future demand of the product

It helps in estimation of required workers in an organization

None of the above

Solution:

In a manufacturing unit plant, the production rate is 200 items per day and the demand rate is 100 items per day. The setup cost is ₹ 20 per setup and the handling cost is ₹ 0.01 per unit per day. If shortages are not allowed, then the minimum total cost for one run is:

₹50

₹100

₹90

₹115

Solution:

The requirement of rivets for a ship manufacturing company is 2,000 units per year. The rivets are supplied in packets of 1 kg, costing Rs. 25 each. The annual carrying cost per unit is 9% of the purchase cost. If the cost to place an order is Rs. 100, find the cycle length of the order (in days).

74.6677 days

73.9875 days

75.3141 days

76.9457 days

Inventory-control Questions Set 1:

In ABC analysis of inventories, 'A' items usually constitute what percentage of the total items?

Solution:

In ABC analysis, the items are ranked in descending order on the basis of their

Solution:

The following data refers to the jobs (P, Q, R, S) which have arrived at a machine for scheduling. Calculate the shortest possible average flow time (in days).

Solution:

What is the term used to describe the amount of time elapsed from the moment an inventory replenishment order is placed and the moment the supplier delivers the goods?

Solution:

In a production system, 4,000 units are produced. The fixed cost is ₹10,000, the total variable cost is ₹12,000, and the total sales are ₹28,000. Determine the quantity to be produced for a profit of ₹16,000.

Solution:

Consider a situation where small orders are made frequently instead of large orders. Which of the following is true for the cost of inventory in this scenario?

Solution:

The annual demand for a product is 50,000 units, and the cost for ordering is Rs. 7,000 per order. Consider the model of basic Economic Order Quantity (EOQ). If the value of EOQ is 10,000 units, what is the Annual Inventory Holding cost (in Rs.)?

Solution:

Which of the following is a true statement about the forecasting model in Inventory control?

Solution:

In a manufacturing unit plant, the production rate is 200 items per day and the demand rate is 100 items per day. The setup cost is ₹ 20 per setup and the handling cost is ₹ 0.01 per unit per day. If shortages are not allowed, then the minimum total cost for one run is:

Solution:

The requirement of rivets for a ship manufacturing company is 2,000 units per year. The rivets are supplied in packets of 1 kg, costing Rs. 25 each. The annual carrying cost per unit is 9% of the purchase cost. If the cost to place an order is Rs. 100, find the cycle length of the order (in days).

Solution:

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