Inventory Management MCQs

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

April 27, 2022

28 Views

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

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

A. Correct

B. Incorrect

Answer: Correct

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

Previous

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

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

Next

This is the quantity of inventory which is to be ordered when inventory reaches the reorder level. If it is set so as to minimise the total costs associated with holding and ordering inventory, then it is known as the economic order quantity

Related Articles

A publishing house purchases 2,000 units of a particular item per year at a unit cost of ₹ 20

A publishing house purchases 2,000 units of a particular item per year at a unit cost of ₹ 20. The ordering cost per order is ₹ 50 and the inventory carrying cost is 25%. How will be the total cost if company decides to buy in EOQ?

A manufacturer requires 9,600 units of a certain component annually

A manufacturer requires 9,600 units of a certain component annually. This is currently purchased from a regular supplier at ₹ 50 per unit. The cost of placing an order is ₹ 60 per order and the annual carrying cost is ₹ 5 per price. Annual ordering plus carrying cost = ?

The annual demand of a certain component bought from the market is 1,000 units

The annual demand of a certain component bought from the market is 1,000 units. The cost of placing an order is ₹ 60 and the carrying cost per unit is ₹ 3 p.a. The Economic Order Quantity for the item is ?

Cost of abnormal wastage is

Cost of abnormal wastage is

We will be happy to hear your thoughts

Leave a reply Cancel reply

You must be logged in to post a comment.