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Inventory in Purchasing and Supply Chain Management MCQ

Occurs during times when a business is unable to accurately predict consumer demand for its products or services is known as ___ in demand.

Answer

Correct Answer: Uncertainty

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Unavoidable costs

Answer

Correct Answer: All of these

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Delays release of orders for components until they are needed and offsets the requirements by item ______.

Answer

Correct Answer: lead time

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____ is an extra inventory held to protect against randomness in demand or lead time.

Answer

Correct Answer: Safety stock

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Quality at which a price is fixed is known as price break

Answer

Correct Answer: False

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This statement true or not ?

Answer

Correct Answer: False

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Lot-sizing procedure Process based on the maximization of the sum of ordering and inventory carrying costs subject to meeting all requirements for each period.

Answer

Correct Answer: False

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Producing standardized products through a job shop is known as Intermittent systems.

Answer

Correct Answer: False

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The demand for end items (ee distribution items, finished goods, spare parts) is known as _____ demand .

Answer

Correct Answer: Independent

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The ______ demand for a good or service that is derived from a second product or service.

Answer

Correct Answer: Dependent

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Produce nonstandard products through an assembly line is called Continuous systems.

Answer

Correct Answer: False

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_______ is Something that makes a company superior to its opponents in terms of value, differentiation, and focus .

Answer

Correct Answer: Competitive advantage

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More Resources
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