11 Jan In ABC analysis,

Question 1

2 out of 2 points

________ is one of the elements of the total inventory costs.

Question 2

2 out of 2 points

“F.O.B. seller” means that:

Question 3

2 out of 2 points

The primary objective of the purchasing function is to:

Question 4

2 out of 2 points

Which of the following represents the cost of the units in the basic EOQ model?

Question 5

2 out of 2 points

When shopping for a vendor, a small business owner should seek:

Question 6

2 out of 2 points

The reorder point model requires that the small business owner know:

Question 7

2 out of 2 points

Many small businesses build a(n) ________, or cushion, into their inventories in case demand runs ahead of the anticipated usage rate.

Question 8

2 out of 2 points

Holding or carrying costs include the costs of:

Question 9

2 out of 2 points

The heart of TQM is:

Question 10

2 out of 2 points

A key element to Deming’s 14 Points is:

Question 11

2 out of 2 points

Research on the implementation of TQM programs shows that it takes ________ to completely implement a TQM program.

Question 12

2 out of 2 points

The small business gains what advantage by selling on consignment?

Question 13

2 out of 2 points

“F.O.B. buyer” means that:

Question 14

0 out of 2 points

Small business people need to remember that:

Question 15

2 out of 2 points

The implementation of TQM can not succeed unless:

Question 16

2 out of 2 points

________ system enables business owners to track their inventories and to place orders with vendors quickly and with few errors by linking them to their vendors electronically.

Question 17

2 out of 2 points

Employers can reduce employee theft through:

Question 18

2 out of 2 points

Store owners and employees may apprehend and charge a shoplifter:

Question 19

2 out of 2 points

“Just-In-Time” inventory control techniques are most successful in what type of environment?

Question 20

2 out of 2 points

A form of inventory management used in manufacturing that stresses a harmonious relationship with suppliers is:

Question 21

2 out of 2 points

The two-bin system and the tag system of inventory control are best suited for items classified as ________ in ABC analysis.

Question 22

2 out of 2 points

The ________ shoplifter is often a regular customer, well-respected individual, etc.

Question 23

2 out of 2 points

Most employee theft:

Question 24

2 out of 2 points

The purpose of ABC inventory analysis is:

Question 25

2 out of 2 points

A number of organizational factors encourage employee theft including:

Question 26

2 out of 2 points

Which of the following is a part of the “Just-In-Time” inventory control philosophy?

Question 27

2 out of 2 points

Effective management of inventory begins with:

Question 28

2 out of 2 points

In ABC analysis, the dollar usage value of an item is determined by:

Question 29

2 out of 2 points

A retail version of Just-In-Time inventory control is called:

Question 30

2 out of 2 points

________ inventory systems are designed to maintain a running count of the items in inventory.