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STORES AND MATERIALS MANAGEMENT

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1 / 50

SIM. Typical form of a warehouse includes the following except……………….

a. open space

b. phone

c. table

2 / 50

SIM. The solution to the concept of inventory problems dealt with two aspect………… and ………….

a. when not to demand and when to demand

b. what to supply and what to demand

c. when to buy and quantity to buy

3 / 50

SIM. Assuming the unit cost is $ 320 what is the cost of safety stock at the end of June.

a. $700,000

b. $260,000

c. $380,000

4 / 50

SIM. A4 paper used in printing an invoice an example of ……………………… stock

a. spare parts

b. work in progress

c. consumable

5 / 50

SIM. How many dependent variable(s) do we have in the above statement?

a. One

b. Two

c. Three

6 / 50

SIM. A correlation coefficient can vary between?

a. - < r < + 1

b. + < r < + 1

c. - < r < - 1

7 / 50

SIM. The production of automobile like Toyota Mercedes Benz and so on fall into what categories of production system ………..

a. Types of production line

b. Type of product

c. Rate of production

8 / 50

What is the value of safety stock using First in first out (FIFO) principle at the end of June?

a. $33,800

b. $34,800

c. $32,800

9 / 50

SIM. How many independent variable(s) do we have in the above statement?

a. One

b. Two

c. Three

10 / 50

SIM. A well structured Materials Requirement Planning sourced information from how many sources.

a. One

b. Two

c. Three

11 / 50

SIM. What is the value of stock out of Sandal?

a. N2,040,000

b. N4,040,000

c. N6,040,000

12 / 50

SIM. A production system of manufacturing a number of identical articles either to meet a specific order or demand or to meet a continuous demand which is demand responsive is called……..

a. Batch production

b. Mass production

c. Job shop

13 / 50

SIM. The inability to estimate the demand correctly or due to uncertain demand lead to reason for inventory is referred to as ……………….

a. demand variability

b. pipeline inventory

c. seasonal inventory

14 / 50

SIM. One of these is not a projective method of forecasting into the future?

a. Apriori

b. Student T Test

c. Tenacity

15 / 50

SIM. What is the value of safety stock using Last in first out at the end of June?

a. $25,000

b. $26,000

c. $27,000

16 / 50

SIM. The most important and critical key asset in warehousing is .……….

a. equipment

b. space

c. people

17 / 50

SIM. The aim of the warehousing is to provide necessary storage at a key point in supply chain, giving secure storage of needed materials, keeping them in good condition with little damage or loss with ………………………………. and ………………………………

a. high cost and low productivity

b. low cost and high productivity

c. moderate cost and high productivity

18 / 50

SIM. Short time forecasting is the one that between ………… and a year

a. few months

b. few days

c. weeks

19 / 50

SIM. Pipeline inventory is the inventory kept while work is ongoing or item on …………….?

a. decrease

b. stagnant

c. transit

20 / 50

SIM. The most crucial and critical information used in Materials Requirement Planning is ……….

a. Master Schedule Plan

b. Bill of Material

c. Records of Inventory

21 / 50

SIM. Safety stock is carried out to guide against various deviations such as the following except……….

a. Delivery date variances

b. Delivery quantity variance

c. Customer variance

22 / 50

SIM. Cube utilization and accessibility as to do with ……….

a. Irregular arrangement of stock in warehouse

b. Best practice of arrangement of stock in the warehouse

c. Inadequate arrangement of stock in warehouse

23 / 50

SIM. The objectives of a warehouse are as follow ………………..

a. Moving materials to a bulk storage area

b. Moving materials from bulk storage to a smaller picking store

c. All of the above

24 / 50

SIM. What explodes the master schedules to plan of supply of materials

a. BOP

b. MRP

c. ERP

25 / 50

SIM. The basic building block to Inventory Management includes all but

a. Sales forecasting and demand management

b. Marketing Plan

c. Sales and Operation planning

26 / 50

SIM. Key Performance Indicator in warehousing practice includes the following except……...

a. Line point

b. Safety stock quantity

c. Reduction in stock

27 / 50

SIM. The subjective method of forecasting that relied on historical books like Bible and Quran is called ………………….

a. Tenacity

b. Authority

c. Science

28 / 50

SIM. The following is an example of benefit output of a MRP except………………….

a. Master schedule plan

b. Performance report

c. Exceptional report

29 / 50

SIM. A correlation coefficient of 0.98 implies a ………………….

a. Moderate positive correlation between variables

b. Strong negative correlation between variables

c. Strong positive correlation between variables

30 / 50

SIM. One of these is not a subjective method of forecasting into the future?

a. Dephi method

b. Personal consensus

d. Multiple Regression Analysis

31 / 50

SIM. Operational planning that imbibed simple schedule rules with order of arrival is called ……….

a. Earliest due date first

b. First-come-first serve

c. Shortest job first

32 / 50

SIM. Enterprise Resource Planning promises one database, one application and ……….

a. One report

b. One standardization

c. One user interface

33 / 50

SIM. In a partnership under the Partnership Act 1890, the partners:

a. have limited liability for the obligations of the partnership

b. have joint liability for the obligations of the partnership

c. have joint and several liability for the obligations of the partnership

34 / 50

SIM. Categories of stocks that are base on timing of use are called………………..

a. Spare parts and consumables

b. Cycle and Safety Stock

c. Buffer and Safety Stock

35 / 50

SIM. The major player in a supply chain are …………………

a. Producer-middlemen-consumer

b. Producer-Transportation-Warehousing-Consumer

c. Warehousing-Consumer-Transportation

36 / 50

SIM. A production system where the same types of products are manufactured to meet continuous demand for the product which is not demand responsive and in large quantity is called ………..

a. Mass production

b. Job shop

c. Batch production

37 / 50

SIM. A warehouse will do the following except ………………..

a. Receiving materials from upstream suppliers;

b. Unloading materials from delivery vehicles;

d. Transporting of materials

38 / 50

SIM. A production category system where products are made to satisfy a specific order and always in a small lot size and custom in nature is called……………….

a. Mass production

b. Job shop

c. Batch production

39 / 50

SIM. Types of members of partnership include the following except ...............

a. Syndicates

b. Limited

c. Silent

40 / 50

SIM. Who are organization internal customers………………..

Marketing department and Finance department

b. Operations department

c. All of the above

41 / 50

SIM. Long time forecasting is the one that span through several…………

a. months

b. days

c. years

42 / 50

SIM. Operational planning that encouraged and assigned priority and emergence to job is called ……….

a. Earliest due date first

b. First-come-first serve

c. Most urgent job first

43 / 50

SIM. What are the reasons individual and/or organization keep inventory?

a. Variability in lead time, height, and weight variables

b. Seasonal variability, demand variability, pipeline inventory

c. Age, education, and income variables

44 / 50

SIM. The path for movement within the warehouse is called ……………….

a. route

b. network

c. gangway

45 / 50

SIM. Car engine oil is an example of ……………………… stock

a. consumable

b. work in progress

c. spare part

46 / 50

SIM. The order point in a KPI flow chart is the summation of safety stock and …………….

a. absolute demand

b. predicted demand

c. absolute supply

47 / 50

SIM. Characteristics of Manpower as a key asset in warehouse are …………..

a. Flexible, Intelligent, Economical, Multiple roles

b. Voluntary, Incapability, Economical Intelligent

c. Flexible, Voluntary, Economical, Multiple roles

48 / 50

SIM. What is the cost of holding the raw materials used in production?

a. N500,000

b. N400,000

c. N300,000

49 / 50

SIM. What are the factors that influence effective use of a warehouse?

a. Cube utilization and accessibility

b. Stock location

c. all of the above

50 / 50

SIM. The problems with Materials Requirement Planning can be as a result of the following except?

a. When there is no master schedule,

B. when master schedule is inaccurate

C. When master schedule do not change frequently

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Stores and Materials Management Examination

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