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ESE ME: Industrial Engineering Champion Quiz 1
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Question 1
In ABC inventory control of spare parts, the items A, B and C respectively refer to
Question 2
Large size of inventory is a sign of:
Question 3
ABC analysis is useful because it
1). Identifies vital few and trivial many
2). Classifies items into three classes
1). Identifies vital few and trivial many
2). Classifies items into three classes
Question 4
Purification of inventory means:
Question 5
Match List-I with List-II and select the correct answer using the code given below the lists:
List-I
A). Procurement cost
B). Carrying cost
C). Economic order quality
D). Reorder point
List-II
1). Cost of holding materials
2). Cost of receiving order
3). Procurement lead time
4). Break-even analysis
List-I
A). Procurement cost
B). Carrying cost
C). Economic order quality
D). Reorder point
List-II
1). Cost of holding materials
2). Cost of receiving order
3). Procurement lead time
4). Break-even analysis
Question 6
What is the ratio of annual order cost to annual cost when the order size is determined using Economic Order Quantity (EoQ), model?
Question 7
The objective of work measurement is to:
Question 8
A project has four activities P, Q, R and S as shown below.
The normal cost of the project is Rs. 10,000/- and the overhead cost is Rs. 200/- per day. If the project duration has to be crashed down to 9 days, the total cost (in Rupees) of the project is ______
The normal cost of the project is Rs. 10,000/- and the overhead cost is Rs. 200/- per day. If the project duration has to be crashed down to 9 days, the total cost (in Rupees) of the project is ______
Question 9
A manufacturer can produce 12000 bearings per day. The manufacturer received an order of 8000 bearings per day from a customer. The cost of holding a bearing in stock is Rs. 0.20 per month. Setup cost per production run is Rs. 500. Assuming 300 working days in a year, the frequency of production run should be
Question 10
The net requirements of an item over 5 consecutive weeks are 50 - 0 - 15 - 20 - 20. The inventory carrying cost and ordering cost are Re. 1 per item per week and Rs. 100 per order respectively. Starting inventory is zero. Use “Least Unit Cost Technique “for developing the plan. The cost of the plan (in Rs.) is
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