TB Ch 12 - MRKTG 372 Test 2 Study online at...

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8. d 8. Which of the following inventory functions does not involve end products sold to customers? a) anticipation inventory b) fluctuation inventory c) lot-size inventory d) MRO inventory e) speculative inventory 9. a 9. Which is the primary inventory function that is activated after coupons are distributed to customers? 10. e 10. Which inventory function provides a hedge against inflation? 11. d 11. Which inventory function exists between the manufacturing plant and the distribution plant? 12. e 12. Which of the following allow you to calculate the average amount of inventory in transit? a) ATI - (365*d)/t b) ATI - (t/365)*d c) ATI = 365 t d d) ATI = (tD)/365 e) ATI - (365*t)/d 13. c 13. In inventory management, when discussing customer service we mean: 14. b 14. Percentage of orders shipped on schedule is a good measure of finished goods customer service if: 1. a 1. What does WIP stand for? a) work-in-process b) waiting inventory position c) warning of inventory position d) weight of inventory position e) waiting inventory potential 2. a 2. What are purchased items or extracted materials that will be transformed into components or products called? 3. d 3. Hand tools, lubricants, and cleaning supplies are usually examples of what? a) WIP inventory b) finished goods inventory c) raw materials inventory d) MRO inventory e) distribution inventory3. Hand tools, lubricants, and cleaning supplies are usually examples of what? a) WIP inventory b) finished goods inventory c) raw materials inventory d) MRO inventory e) distribution inventory
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