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GATE ME: Industrial Engineering Champion Quiz 1

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Question 1

Demand during lead time with associated probabilities is shown below:

Expected demand during lead time is

Question 2

A company uses 2555 units of an item annually and delivery lead time is 8 days. The reorder point (in number of units) to achieve optimum inventory is ____.

Question 3

At break-even point, inventory carrying cost is:

Question 4

If the fixed cost of the assets for a given period doubles, then how much will the break-even quantity becomes?

Question 5

Annual demand of a product is 50000 units and the ordering cost is Rs. 7000 per order. Considering the basic economic order quantity model, the economic order quantity is 10000 units When the annual inventory cost is minimized, the annual inventory holding cost (in Rs.) is ______

Question 6

The annual demand for an item is 10,000 units. The unit cost is Rs. 100 and inventory carrying charges are 14.4% of the unit cost per annum. The cost of one procurement is Rs. 2000. The time between two consecutive orders to meet the above demand is _______ months.

Question 7

Annual demand for window frames is 10000. Each frame costs Rs. 200 and ordering cost is Rs. 300 per order. Inventory holding cost is Rs. 40 per frame per year. The supplier is willing to offer 2% discount if the order quantity is 1000 or more, and 4% if order quantity is 2000 or more. If the total cost is to be minimized, the retailer should

Question 8

If, D = annual demand for a material (units per year).
Q = quantity of material ordered at each order point (unit per order)
C = cost of carrying one unit in inventory for one year (rupees per unit per year)
S = average cost of completing an order for a material (rupees per order)
TSC = Total annual stocking costs for a material (rupees per year)
Then, the Economic Order Quantity (EOQ) is

Question 9

Process X has a fixed cost of Rs 40,000 per month and a variable cost of Rs 9 per unit. Process Y has a fixed cost of Rs 16,000 per month and a variable cost of Rs 24 per unit. At which value, total costs of processes X and Y will be equal?

Question 10

The annual demand of a commodity in a supermarket is 80000. The cost of placing an order is Rs. 4,000 and the inventory cost of each item is Rs. 40. What is the economic order quantity?

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