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Chapter 12: Inventory planning and...
Multiple choice questions

Try the following questions to test your knowledge of this chapter. After you have answered the questions, click on 'Submit Answers for Grading' to get your results.

1 .       Buffer inventory is required as: 



2 .       Cycle inventory is required as: 



3 .       The EOQ formula has been criticised in a number of areas. Which of the following is not an area of common criticism? 



4 .       What is a two-bin system? 



5 .       Under the ABC system of inventory priorities a Class A item is: 



6 .       Order-point or re-order level inventory control is used for: 



7 .       Which of these statements is correct?

The Economic Order Quantity (EOQ): 



8 .       One of the underlying assumptions of the EOQ model is that : 



9 .       Which would be the most appropriate method of controlling stock in a retail shop? 



10 .       Which would be the most appropriate method of controlling stock in a hotel bar? 



11 .       Periodic review means: 



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