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.Procurement cost b.Inventory cost c.Holding cost d.None of the above

Cost associated with ordering and receiving goods: a.Procurement cost b.Inventory cost c.Holding cost d.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.Cost b.Investment c.Profit d.None of the above

Procurement cost is obtained by plotting ______ against ordered quantity. a.Cost b.Investment c.Profit d.None of the above

Purchasing is one of the function of ….. management a.Production b.Materials c.Design d.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.Procurement Cost b.Inventory Carrying Cost c.Total Cost d.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.Procurement Cost b.Inventory Carrying Cost c.Total Cost d.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

EOQ= ?

What is advantage of EOQ mode? a.Material is available quickly b.Effective utilization of inventory c.Both a and b d.None

What is advantage of EOQ mode? a.Material is available quickly b.Effective utilization of inventory c.Both a and b d.None

Why purchasing is required? a.To procure materials at lowest cost b.To maintain standards of quality c.Both a and b d.None

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

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 a b c d Decision of purchase 2.Market analysis of suppliers 3.Material requisition 4.Purchase order 5.Receive materials 6.Finalize supplier

Arrange the functions of purchasing a b c d Decision of purchase 2.Market analysis of suppliers 3.Material requisition 4.Purchase order 5.Receive materials 6.Finalize supplier

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.5S

Following is not modern materials management technique. a.MRP b.ERP c.SAP d.5S

MRP in materials mgnt stands for- a.Maximum Retail Price b.Material Resource Planning c.Maximum Resource Planning d.None

MRP in materials mgnt stands for- a.Maximum Retail Price b.Material Resource Planning c.Maximum Resource Planning d.None

Which is the input to MRP? a.On hand Inventory b.Bill of material c.Both d.None

Which is the input to MRP? a.On hand Inventory b.Bill of material c.Both d.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.Forecast of materials requirement b.Reducing waste c.Economy in buying d.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.Independent demand b.Dependent demand c.MRP d.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.Wheels for bike b.Tools c.Headlamps for car d.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 Means- a.Enterprise Resource Planning b.Entry Restricted Products c.Energy Resource Products d.None

ERP Means- a.Enterprise Resource Planning b.Entry Restricted Products c.Energy Resource Products d.None

____ uses all the resources in systematic way. a.MRP b.ERP c.MRP II d.None

ERP vendor is- a.SAP b.ORACLE c.PEOPLESOFT d.ALL

ERP vendor is- a.SAP b.ORACLE c.PEOPLESOFT d.ALL

List of ERP Modules a.ERP Finance Module b.ERP HR Module c.ERP Purchase Module d.ERP Production Module e.ERP Sales and Marketing Module f.ERP Inventory Module