Purchasing of Materials and Supply Chain Management MCQ
The value of an article is determined by the _______ at which a satisfactory supply of materials and equipment or services can be obtained.
Answer
Correct Answer:
lowest cost
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The delay between receipt of raw materials and the availability of the finished goods produced is known as ______ .
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The means by which various resources flow is known as _______ .
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The flow of information and materials or a set of activities is known as _______ .
Answer
Correct Answer:
Order cycle
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Make-to-stock used by businesses to match the inventory with anticipated consumer demand.
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A manufacturing process in which manufacturing starts only after a customer’s order is received is known as _______ .
Answer
Correct Answer:
Make-to-order
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The period of time required to perform a specific activity of work is known as ________ .
Answer
Correct Answer:
Lead time
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Distribution channel is the network of system components from the manufacturer to the final consumer & _______ that tie the components together.
Answer
Correct Answer:
Both a & b
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Customer service is the fraction of customers’ demand that is satisfied without ________ as promised; also known as service level or fill rate.
Answer
Correct Answer:
Both a & b
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Commodity is a standard article of trade or commerce.
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A process where the company develops various marketing techniques and strategies to service a large customer base is known as _______ .
Answer
Correct Answer:
Channel separation
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Which process is used for matching planned system outputs with the necessary capacity requirements ?
Answer
Correct Answer:
Capacity management
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