Chapter 2 IMC(TNASDC)

Is Inventory an asset or liability?

• Asset

• Liability

• None

What is the function of inventory

• Accounting of items

• selling items

• manufacturing items

• All the above

different types of inventories that are held at the various stages of the supply chain of a company

• Raw materials

• Work in progress

• finished goods

• goods for resale

• All the above

How do manufacturer of any product manages inventories in his set-up

• just-in-time management (JIT)

• materials requirement planning (MRP)

• economic order quantity (EOQ)

• days sales of inventory (DSI).

• Using all the above methods

what is the important functionality of inventory

• To provide operations before supply of raw materials

• To provide operations after completion of delivery

• To provide operations with an ongoing supply of materials

• None of the above

Why do inventories are carried?

• for not compromising at cash flow

• for not Running out of stock

• for meeting the requirement of customer needs

• All the above

What are the cost components involved in carrying and holding the goods

• Capital cost

• Storage space cost

• Inventory service cost

• All of the above

Abbreviate ABC analysis of inventory

• Always big cotrol

• Always better control

• Any better control

• None of the above

Supply chain management is part of logistics

• True

• false

Abbreviate VED Analysis

• Vicats, essential, desirable

• vital, easy, demanded

• vital, established, destined

• Vital, essential, desirable