Materials Management - 4

Select The Blank
Question
Inspection methods analyze ________.
Correct Answer
Degree of inspection
Your Answer
Quality of material

Multiple Choice Single Answer
Question
In Fixed-Order quantity system, cycle time of consumption should be :-
Correct Answer
More than lead time
Your Answer
Less than lead-time

Select The Blank
Question
In the ________ , the composition of code is in three groups of digits that are separated by hyphens, the hyphens serves to break the code into easy to handle group of digits.
Correct Answer
Kodak system
Your Answer
Kodak system

Multiple Choice Single Answer
Question
A buyer gives wrong idea to his supplier about his requirements or show a fictitious figure to get some price discount is called as :-
Correct Answer
Misrepresentation of facts
Your Answer
Misrepresentation of facts

Multiple Choice Single Answer
Question
JIT is an :-
Correct Answer
Inventory reduction technique
Your Answer
Just-in-time

Multiple Choice Single Answer
Question
Issues to top up supply to pre-fixed levels of items are :-
Correct Answer
Imprest issues
Your Answer
Imprest issues

True/False
Question
Two bin system is better as compared to perpetual inventory system.
Correct Answer
False
Your Answer
True

Multiple Choice Multiple Answer
Question
Annual total cost changes :-
Correct Answer
If stock turnover rate changes , If quantity changes
Your Answer
If stock turnover rate changes , If procurement cost changes , If set-up cost changes

True/False
Question
Functionally critical parts require to be covered under cent per cent inspection
Correct Answer
True
Your Answer
False

Select The Blank
Question
GRR are sent from ________.
Correct Answer
Stores Dept.
Your Answer
Stores Dept.

Multiple Choice Single Answer
Question
Competitive price information must be treated as confidential and should not be disclosed to the bidders with an intention of allowing them to rebid is :-
Correct Answer
Improprieties of bids
Your Answer
Price disclosure

Select The Blank
Question
Good ________ relations are necessary for effective materials planning as every department is involved in materials planning because each department requires one item or other another.
Correct Answer
Departmental
Your Answer
Departmental

Multiple Choice Multiple Answer
Question
The following are the actions would help to improve effectiveness of materials planning :-
Correct Answer
Accurate forecasting , Computerization , Shorter materials plan period
Your Answer
Accurate forecasting , Computerization , Shorter materials plan period

Match The Following
Question
Correct Answer
Your Answer
JE
Journal Entries
Journal Entries
PO
Purchase order
Purchase order
GRN
Goods receipt note
Goods receipt note
DN
Discrepancy note.
Discrepancy note.

True/False
Question
Cancellation of orders on flimsy ground is unethical.
Correct Answer
True
Your Answer
True

Select The Blank
Question
Standardized containers eliminates ________
Correct Answer
Transit damage
Your Answer
Transit damage

Multiple Choice Single Answer
Question
Purchase order offers acceptance and have been clearly laid down in :-
Correct Answer
Indian Contract act 1872
Your Answer
Indian Contract act 1872

Multiple Choice Single Answer
Question
For the inspection of Stationery which department is responsible?
Correct Answer
Stores
Your Answer
Stores

Match The Following
Question
Correct Answer
Your Answer
FAS (4-2)
Sale at the port of destination
Sale at port of export
FOB (1-1)
Sale is made on FOB vessel
Sale is made on FOB vessel
CIF (2-4)
Sale is made at port of destination
Sale at the port of destination
CFR (3-3)
Sale at port of export
Sale is made at port of destination

Multiple Choice Single Answer
Question
Reprocessing of Scrap is :-
Correct Answer
Reclaiming for re-use
Your Answer
Reclaiming for re-use

Multiple Choice Single Answer
Question
Limit gauges are used to verify :-
Correct Answer
Whether the product is within the specification
Your Answer
Whether the product is within the specification

Multiple Choice Single Answer
Question
Which of the following is not the internal factor influencing materials planning?
Correct Answer
International market
Your Answer
International market

Multiple Choice Single Answer
Question
The system should be designed in such a way that it serves the advantages that are expected to accrue from it, is called as :-
Correct Answer
Objective oriented
Your Answer
Objective oriented

Multiple Choice Single Answer
Question
Real creative ideas results :-
Correct Answer
When members ventures into impossible areas
Your Answer
When opportunity is given to staff

Multiple Choice Multiple Answer
Question
Segregation of scrap means :-
Correct Answer
Sorting by type, size, grade etc. , Sorting by grade, weight
Your Answer
Sorting by type, size, grade etc. , Sorting by grade, weight

Select The Blank
Question
________clause should be inserted in the purchase order of items critical to project to induce supplier for early completion of the orders.
Correct Answer
Bonus
Your Answer
Penalty for delay

True/False
Question
Single tender system is used when there is only one supplier of the item.
Correct Answer
True
Your Answer
True

Multiple Choice Multiple Answer
Question
Following are benefits of scientific stoke management :-
Correct Answer
Reduction in downtime by efficient issues , Inventory control , Very less time required to identify & issue material
Your Answer
Reduction in downtime by efficient issues , Inventory control , Very less time required to identify & issue material

True/False
Question
Stores is the "Safe Custody" for keeping materials
Correct Answer
True
Your Answer
True

True/False
Question
Value analysis is the cost reduction technique.
Correct Answer
True
Your Answer
True

True/False
Question
Codification avoids confusion and doubt caused by long description of items.
Correct Answer
True
Your Answer
True

Multiple Choice Multiple Answer
Question
Complaints concerning should be made in such a way that negative reactions are avoided such as :-
Correct Answer
Delivery failures , Rejection , Shortages
Your Answer
Delivery failures , Rejection , Shortages

True/False
Question
A firm engaged in custom-built-product, is usually plagued with obsolete material.
Correct Answer
True
Your Answer
True

Select The Blank
Question
________ refers to the procurement of the requirements of all departments of the firm by a central purchase organization.
Correct Answer
Centralisation
Your Answer
Centralisation

Multiple Choice Multiple Answer
Question
Conventional machine set-up time includes :-
Correct Answer
Tool replenishment , First piece inspection
Your Answer
Tool replenishment , First piece inspection , Set-up

Multiple Choice Multiple Answer
Question
Stock-out is due to :-
Correct Answer
Unusual high demands , Delay in deliveries
Your Answer
Unusual high demands , Delay in deliveries , Machine break-down

True/False
Question
Negotiation should end up with an unhappy supplier.
Correct Answer
False
Your Answer
False

Select The Blank
Question
Systematic, formal and continuous analysis of all factors affect ________ management function is known as Materials research.
Correct Answer
Materials
Your Answer
Materials

True/False
Question
Since stock-taking is a check on storekeeper, it should not be conducted by him.
Correct Answer
False
Your Answer
False

Multiple Choice Multiple Answer
Question
Salient features of the working of the price panel are as under :-
Correct Answer
Usage value above which the panel is to approve of the price is specified. , Vendor development department is required to give cost break up to the secretary of the price panel , Members of the panel meet to scrutinize and discuss the cost aspects.
Your Answer
Usage value above which the panel is to approve of the price is specified. , Vendor development department is required to give cost break up to the secretary of the price panel , Members of the panel meet to scrutinize and discuss the cost aspects.

Multiple Choice Multiple Answer
Question
Application for an import license must be signed from :-
Correct Answer
Proprietor , Partner of firm , Person duly authorized by board of directors of company
Your Answer
Proprietor , Partner of firm , Person duly authorized by board of directors of company

True/False
Question
Manual inspection is economical when volume of output is small.
Correct Answer
True
Your Answer
True

Multiple Choice Multiple Answer
Question
For large organizations where product is made up of assemblies of manufactured components raw material store is subdivided into :-
Correct Answer
Foundry store , Tool crib , Maintenance store
Your Answer
Foundry store , Tool crib , Goods inward store

True/False
Question
Post parcel consignments are cleared through customs & clearance is done through foreign post office.
Correct Answer
True
Your Answer
True

Multiple Choice Single Answer
Question
What is the meaning of discharge of contract by novation?
Correct Answer
If the parties agree to substitute a new contract in place of existing one or alter it, original contract is discharged
Your Answer
If the parties agree to substitute a new contract in place of existing one or alter it, original contract is discharged

Select The Blank
Question
Quantity delivered of goods must be according to the ________.
Correct Answer
Terms of contract
Your Answer
Terms of contract

Multiple Choice Single Answer
Question
Which of the following is not the external factor influencing materials planning?
Correct Answer
Corporate objective
Your Answer
Corporate objective