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AE-JE (ME) II Industrial Engineering Quiz-2
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Question 1
ABC analysis, as an input, requires
Question 2
The finite production rate inventory model relaxes which of the following EOQ assumptions?
Question 3
Which of the following are the benefits of inventory control?
1). Improvement in customers relationship.
2). Economy in purchasing
3). Elimination of the possibility of duplicate ordering:
Select the correct answer using the code given below.
1). Improvement in customers relationship.
2). Economy in purchasing
3). Elimination of the possibility of duplicate ordering:
Select the correct answer using the code given below.
Question 4
In the basic ECQ model, if demand is Rs. 60 per month, ordering cost is Rs. 12 per order, holding cost is Rs. 10 per unit per month, what is the ECQ?
Question 5
Which one of the following is correct?
In the basic ECQ model, if lead time increases from 5 to 10 days, the EOQ will
In the basic ECQ model, if lead time increases from 5 to 10 days, the EOQ will
Question 6
The following is the general policy for A class items in ABC analysis:
1). Very strict control.
2). Frequent review of their consumption.
3). Safety stock kept.
Which of these statements is/are correct?
1). Very strict control.
2). Frequent review of their consumption.
3). Safety stock kept.
Which of these statements is/are correct?
Question 7
At break-even point, inventory carrying cost is:
Question 8
Purification of inventory means:
Question 9
What is the ratio of annual ordering cost to annual holding cost when the order size is determined using Economic Order Quantity (EOQ), model?
Question 10
In the ABC method of inventory control, Group A constitutes costly items. What is the usual percentage of such items of the total items?
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