Materials Management - 1

Multiple Choice Multiple Answer
Question
Primary duties to be performed by purchase department are :-
Correct Answer
Receipts, sorting of purchase indents and determination of method of buying , Performance evaluation and feedback , Search for suppliers
Your Answer
Search for suppliers , Receipts, sorting of purchase indents and determination of method of buying , Performance evaluation and feedback

True/False
Question
Indentor's copy is meant to enable indentor to follow up with the purchase department.
Correct Answer
True
Your Answer
True

Select The Blank
Question
________specification are usually flexible and can be altered during consultation with different manufacturers of the equipment.
Correct Answer
Equipment
Your Answer
Equipment

Multiple Choice Single Answer
Question
Second bin quantity can be qualified by :-
Correct Answer
m + L x C
Your Answer
m + L x C

True/False
Question
Continuous stock-taking tends to dislocate the working of store.
Correct Answer
False
Your Answer
False

Multiple Choice Single Answer
Question
Redundant Stock is nothing but :-
Correct Answer
Worthless for conversion & other use
Your Answer
Worthless for conversion & other use

Multiple Choice Single Answer
Question
The cost incurred in providing adequate insurance cover to the materials in transit and in storage is
Correct Answer
Insurance cost
Your Answer
Insurance cost

Select The Blank
Question
Set-up cost for manufactured item in own plant is ________.
Correct Answer
Very high
Your Answer
Very high

Multiple Choice Single Answer
Question
The buying which is received in staggered lots, each lot at times may equal EOQ is :-
Correct Answer
Contract buying
Your Answer
Schedule buying

Multiple Choice Single Answer
Question
Price of the commodity is conditioned by the forces of supply and demand is :-
Correct Answer
Demand and supply condition
Your Answer
Demand and supply condition

Multiple Choice Single Answer
Question
The submission of the final offers by the prospective sources is :-
Correct Answer
Firm bidding
Your Answer
Firm bidding

Select The Blank
Question
________ of the department refers to the placement of the department in the structure of the company.
Correct Answer
Status
Your Answer
Size

Select The Blank
Question
Paper work cost is ________.
Correct Answer
Procurement cost
Your Answer
Procurement cost

True/False
Question
The trade discount is not allowed as a percentage of published price.
Correct Answer
False
Your Answer
False

Multiple Choice Multiple Answer
Question
What are the different methods of identifying materials?
Correct Answer
Tagging , Labeling , Engraving
Your Answer
Tagging , Labeling , Engraving

Multiple Choice Single Answer
Question
Prices of certain commodity may be fixed by the government and thereby putting a restriction on both buyer and seller is :-
Correct Answer
Government restrictions
Your Answer
Government restrictions

True/False
Question
Multiple sampling is an extension of the double sampling plan.
Correct Answer
True
Your Answer
True

Match The Following
Question
Correct Answer
Your Answer
Labour management relations
Investigating into suppliers capabilities
Investigating into suppliers capabilities
Technical discussions between the representatives of a buyer and supplier
Techno commercial discussion and trial order
Techno commercial discussion and trial order
Follow up with the supplier until sample submission
Sample validation
Sample validation
Type of supplier
Preliminary selection of the suppliers
Preliminary selection of the suppliers

Select The Blank
Question
Review system-optional replenishment is a modification of ________.
Correct Answer
Fixed-order interval system
Your Answer
Re-order level system

Multiple Choice Multiple Answer
Question
Costs involved in materials management are
Correct Answer
Basic cost of materials , Government tax and levies , Ordering cost
Your Answer
Basic cost of materials , Government tax and levies , Ordering cost

True/False
Question
Safety stock forms a fixed portion of inventories.
Correct Answer
True
Your Answer
True

True/False
Question
Maintenance and repair costs in used equipments are relatively higher.
Correct Answer
True
Your Answer
True

Multiple Choice Multiple Answer
Question
What are the areas of control to improve profit
Correct Answer
Increase units sold , Increase production , Reducing capital
Your Answer
Increase units sold , Increase production , Reducing capital

Multiple Choice Multiple Answer
Question
Main transport documents used by trade are :-
Correct Answer
RR , LR
Your Answer
RR , LR

Multiple Choice Single Answer
Question
Quantity based advance license is based on standard of :-
Correct Answer
Input-output norms fixed by ALC
Your Answer
Input-output norms fixed by ALC

Select The Blank
Question
Originating department of daily material receipt report is ________.
Correct Answer
Receiving store
Your Answer
Purchase department

Multiple Choice Multiple Answer
Question
What are the limitations of alpha betical system?
Correct Answer
Repetition of alphabets often leads to confusion and wrong identification , The selection of proper alphabets for each of the items is difficult. , The codes cannot be amplified which restricts its use to smaller firms
Your Answer
Repetition of alphabets often leads to confusion and wrong identification , The selection of proper alphabets for each of the items is difficult. , The codes cannot be amplified which restricts its use to smaller firms

True/False
Question
Small parcels, Samples, gifts which are received from other countries provisions of import policy & customs not applied on them.
Correct Answer
False
Your Answer
False

Select The Blank
Question
Malpractices are ________.
Correct Answer
Manipulations by stores staff
Your Answer
Common in all stores

True/False
Question
The registered firms are required to submit security deposit which is required from unregistered firms.
Correct Answer
False
Your Answer
False

Multiple Choice Single Answer
Question
In instantaneous replenishment system :-
Correct Answer
Item consumption demand rate is constant
Your Answer
Item consumption demand rate is constant

Multiple Choice Multiple Answer
Question
Store manager has to ensure security :-
Correct Answer
Of store buildings , Of stock yards
Your Answer
Of store buildings , Of stock yards , Of stores staff

Multiple Choice Single Answer
Question
The process of procurement of raw material, wip, finished goods, jigs, fixtures and other tools and equipments which are required for the operation and maintenance of a manufacturing plant is known as
Correct Answer
Purchasing
Your Answer
Purchasing

Multiple Choice Multiple Answer
Question
Receiving inspector should have to :-
Correct Answer
Segregate defectives , Maintain vendor wise quality records
Your Answer
Segregate defectives , Maintain vendor wise quality records

Multiple Choice Single Answer
Question
Identifying the need for source selection and source development is :-
Correct Answer
Source requirement stage
Your Answer
Source requirement stage

True/False
Question
Supplier's delivery ratings should be communicated on periodical basis.
Correct Answer
True
Your Answer
True

Match The Following
Question
Correct Answer
Your Answer
Vendor rating
Right source
Right source
Replenishment method
Right time
Right time
Competitive bidding
Right price
Right price
EOQ
Right quantity
Right quantity

Multiple Choice Single Answer
Question
EOQ means :-
Correct Answer
When total cost & right quantity are balanced
Your Answer
When total cost & right quantity are balanced

Multiple Choice Single Answer
Question
The cost incurred in movement of materials from suppliers works to buyer's works is
Correct Answer
Freight cost
Your Answer
Freight cost

Multiple Choice Multiple Answer
Question
Value analysis speaks about :-
Correct Answer
Cost improvement , Improvement in quality
Your Answer
Cost improvement , Improvement in quality

Multiple Choice Multiple Answer
Question
Advantages of fixed price agreements are :-
Correct Answer
They are easy to administer , They give certainty to the buyer who knows from the start, amount he has to pay for the goods/services. , They protect buyer from possible financial risks from price escalations
Your Answer
They are easy to administer , They give certainty to the buyer who knows from the start, amount he has to pay for the goods/services. , They protect buyer from possible financial risks from price escalations

Multiple Choice Multiple Answer
Question
Main information in the bill of material is :-
Correct Answer
Part no. , Material specification , Quantity per assembly
Your Answer
Part no. , Material specification

Select The Blank
Question
________ is responsible for purchase of goods of right quality, quantity, time, price and source.
Correct Answer
Purchase division
Your Answer
Purchase division

Multiple Choice Single Answer
Question
The system not only should identify and classify all the existing items and it should have enough extra unassigned codes to absorb future items is called as :-
Correct Answer
Flexibility
Your Answer
Flexibility

Multiple Choice Single Answer
Question
Purchasing today is no longer just a commercial activity but it is a techno commercial activity. This is known as :-
Correct Answer
Changing nature of purchases
Your Answer
Changing nature of purchases

True/False
Question
Black listing may be for a limited period or for an indefinite period.
Correct Answer
True
Your Answer
True

Multiple Choice Multiple Answer
Question
Actions involved in sample validation are :-
Correct Answer
Follow up with the supplier until sample submission , Sample inspection , Feedback on defects and defect prevention
Your Answer
Sample inspection , Sample rejection