L4M7 Exam Question 1
In relation to stock management techniques, which of the following are
characteristics of 'vendor-owned stock'?
1. Buffer levels of stock are purchased
2. The supplier retains the title of the stock
3. The buyer provides physical storage
4. The buyer takes all the financial risk
characteristics of 'vendor-owned stock'?
1. Buffer levels of stock are purchased
2. The supplier retains the title of the stock
3. The buyer provides physical storage
4. The buyer takes all the financial risk
L4M7 Exam Question 2
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?
L4M7 Exam Question 3
A construction organisation requires specialist equipment for digging deep foundations. Which of the following circumstances would result in the hire of equipment rather than leasing it?
L4M7 Exam Question 4
What are the contents of master production schedule in MRP system?
L4M7 Exam Question 5
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.