Inventory Management MCQs

In the ABC method materials are classified A, B or C according to their expense – group A being the expensive, group B the medium-cost and group C the inexpensive materials

April 27, 2022

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In the ABC method materials are classified A, B or C according to their

Q. In the ABC method materials are classified A, B or C according to their expense – group A being the expensive, group B the medium-cost and group C the inexpensive materials.

A. Incorrect

B. Correct

Answer: Correct

In the ABC method materials are classified A, B or C according to their expense – group A being the expensive, group B the medium-cost and group C the inexpensive materials

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Inventory control levels can be calculated in order to maintain inventories at the optimum level. The three critical control levels are:

In the ABC method materials are classified A, B or C according to their expense – group A being the expensive, group B the medium-cost and group C the inexpensive materials

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The two-bin system of stores control (or visual method of control) is one whereby each stores item is kept in two storage bins

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