Operations & Supply Chain Management | Chapter 4 | Part 3 | MBA MCQs | OSM

Operations and Supply Chain Management MCQs

  

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1. Inventory in an organization should be
   1.   maximum
   2.   minimum
   3.   None of the above
   4.   optimum
2. Find the odd one out
   1.   XYZ analysis
   2.   Work to Permit
   3.   ABC analysis
   4.   VED analysis
3. ______________ type of inventory provides buffer between successive operations
   1.   Cyclic inventory
   2.   Pipeline inventory
   3.   Decoupling inventory
   4.   Anticipation inventory
4. ___________ type of inventory acts as a buffer between various elements of the supply chain
   1.   Anticipation inventory
   2.   Cyclic inventory
   3.   Pipeline inventory
   4.   Decoupling inventory
5. Which technique helps us to identify obsolete items
   1.   XYZ analysis
   2.   ABC Analysis
   3.   Movement analysis
   4.   FGH analysis
6. ABC Classification is based on
   1.   None of the two
   2.   Criticality of items
   3.   Inventory value of items at the year end
7. Deterioration and obsolescence cost comes under
   1.   Inventory carrying cost
   2.   Set up cost
   3.   Stock out cost
   4.   Procurement cost
8. ____________ type of inventory satisfies periods of seasonal high demand
   1.   Decoupling inventory
   2.   Pipeline inventory
   3.   Seasonal inventory
   4.   Safety stock
9. _____________ type of inventory avoid stock outs
   1.   Cyclic inventory
   2.   Pipeline inventory
   3.   Safety stock
   4.   Decoupling inventory
10. The time that lapses between raising of purchase requisition by user departments
    or stores and receipt and acceptance of materials at stores for issue to user
    departments is known as
    1.   Time gap analysis
    2.   None of these
    3.   Running time
    4.   Lead time
11. The elements of stock out cost are
    1.   All of the above
    2.   Cost due to overtime paid
    3.   Cost due to loss of business
    4.   Cost of men & machine rendered idle
12. As the order quantity increases, this cost will reduce
    1.   Ordering cost
    2.   Insurance cost
    3.   Inventory carrying cost
    4.   Stock out cost
13. Inventory is a term related to Contracts Management.
    1.   It depends
    2.   Cant say
    3.   Yes
    4.   No
14. CX items are those items whose available stock is exceeding
    1.   15 years consumption
    2.   5 years consumption
    3.   10 years consumption
    4.   There is no such item known as CX
15. Valuation of financial year closing of stocks is known as
    1.   Stock analysis
    2.   None of the above
    3.   ABC analysis
    4.   XYZ analysis
16. Extra units that are held in inventory to reduce stock outs are called
    1.   Safety stock
    2.   Demand variance
    3.   Just in time inventory
    4.   Re-order point
17. VED classification made on
    1.   Market availability
    2.   Annual consumption value of item
    3.   None
    4.   Criticality of items
18. ____________ type of inventory minimizes the total cost by ordering the EOQ
    1.   Cyclic inventory
    2.   Decoupling inventory
    3.   Anticipation inventory
    4.   Pipeline inventory
19. If you take delivery from railways at a later date than prescribed the penalty
    imposed on is known as
    1.   Obsolete chargee
    2.   Negligent charge
    3.   Wharfage charge
    4.   Demurrage charge
20. As the volume of inventory increases, the following cost will increase
    1.   Inventory carrying cost
    2.   Ordering cost
    3.   Procuring cost
    4.   Stock out cost