Ch. 3 Inventory Management 20252 Quiz

Quiz
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Business
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University
•
Easy
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20 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How does inventory management help in achieving economies of scale?
By increasing the number of suppliers
By reducing the quality of products
By allowing bulk purchases at a discount
By expanding the store size
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the purpose of ABC Analysis in inventory management?
To categorize inventory based on importance
To increase production speed
To enhance customer satisfaction
To reduce employee workload
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is NOT a part of inventory management?
Ordering inventory
Storing inventory
Marketing inventory
Selling inventory
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which cost is associated with maintaining a small inventory?
Improved customer service
Lower storage costs
Faster deliveries
Better equipment utilization
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
During which stage are shipping and customs documents prepared?
Order Placement
Order Processing
Order Preparation
Order Shipment
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Why might a warehouse keep seasonal stock?
To meet current demand
To prepare for unexpected events
To sell at a higher price later
To meet holiday demand
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the primary purpose of the EOQ model?
To increase production speed.
To determine the best reorder point and quantity.
To reduce employee workload.
To maximize storage space.
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