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

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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

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

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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

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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

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