REGISTER TO START YOUR EXAMINATION

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

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

SIM. All these prompt the use of ERP except ……………….

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

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

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

LM. USE THIS EQUATION  TO ANSWER THE NEXT FIVE QUESTIONS

The production of Peak Milk for the past 15 years between year 2000 and 2014, was reflected with the multiple regression model, Y = 3.12 + 0.75X₁ + 0.52X₂ + 0.84X_3. Hence, use the above information to answer question 8 to 12.

The production of milk in year 2030 when X₁ = 215, X₂ = 308 and X₃ = 178

SIM. When can we have a perfect Just in time principle of inventory ………………..

SIM. Why is not desirable to have inventory?

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

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

SIM.   ……………… is the computation and mathematical adjustment on how organization scheduled and finalized operational activities

SIM. A stock is the store of an ………………….. for future use

SIM. A laptop is an example of a warehouse because………………..

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

SIM.  Just in case inventory is referred to a situation where the ……........ and ………. at …………. lead time

What is the ordering cost per unit per month of materials used in production of Sandal?

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

SIM. A correlation coefficient can vary between?

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

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

SIM. A unit of a stock is the …………………..  size or quantity of an item.

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

SIM. The engagement of Automated Guided Vehicle in overcoming long distance and high altitude in the warehouse is termed …………………..

SIM. An inventory waiting for shipment and which can also be served as a sub material for final product of another product is called ………………….

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

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

SIM.  The concept of limited liability in relation to a company means:

SIM. All are types of partnership except…….. ….

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

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

SIM.   An inventory whereby the components goes directly into assemblage of final products and from different manufacturers is called ………………….

SIM. All of the models are objective forecasting techniques except?

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

SIM. A Bought-Out-Part inventory is that goes directly into

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

SIM. An item is a ………….. product kept in the stock

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

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

SIM. The key warehousing assets includes the following except ……….

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

SIM. A cycle stock is a sequential and continuous replenishment of stock involving ……… stages.

SIM. When you make a decision to run your business as a sole trader, this means:

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

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

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

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

SIM. All these are method of evaluating safety stock except ……….

SIM. Just in time inventory is referred to a situation where the ……........ and ………. at …………. lead time

SIM. A warehouse location system where cube utilization is not being practice is known as……….

SIM. Outbound logistics offered the following activities excluding ….……….

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

SIM. Categories of stocks that are used without seeing the stock in the final product is called………..

During our first job on graduate trainee scheme, Olamide Mariam was given the following records of transactions for items and asked for her view of value of safety stock. Base on the information on the above table, use this to answer this question and the next four.

What is the value of closing stock at the end of June?

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 ………..

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

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……………….

The unit cost of producing LAIDE sandal includes the following cost, N200 for holding the raw materials in the warehouse and N60, N20, and 80N for loading, telephoning, invoicing respectively. If the unit in the warehouse is 2,500 and also at a point in time there is a stock of 600 sandal at the rate of N3400. Use this information to answer the question below and the next three.

What is the ordering cost of the materials used in production?

SIM. Which of the following is not a difference between a public and a private limited company?

SIM. An item or materials put to manufacturing system is called………………

SIM.  What are the major component of logistics.

SIM. The easiest arrangement of warehouse to imagine where all activities are controlled by human muscular power is referred to as ……….

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

SIM. Categories of stocks that are base on usage are called………………..

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

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

SIM. What type of model is this Y=a + bX?

SIM. In warehousing facilities structure and ownership, there are several types of warehousing structures, what are these?

SIM. N Harris (1915) and Naddar (1966) come up with concepts of inventory problem solving by resulting into three simple costs which includes?

Which of the following is not an attribute of the legal personality of a registered company?

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

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 ………………………………

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……..

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

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

SIM. What type of model is this Y= a + b₁X_{1 +} b₂X₂?

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

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

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

SIM. The managerial function that is concerned with production facility required and the way it should be laid down is termed……………….

SIM.   Advantages of central storage include ……………….

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

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

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

SIM.   What is the observable or number of cases in the statement?

SIM. A warehouse where human muscular power is replaced by machines such as fork lift is called ….

SIM. Definition of Inventory among other things makes use of the following phrases?

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

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

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

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

SIM. What is the most essential factors that influence effective use of a warehouse?

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

SIM. The assignment of stock in a permanent location, where no other items are placed there is called……….

SIM. What is the difference between inventory management and warehousing?

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

SIM. The key facilities in a typical warehouse are as follow ……...

SIM. What is the value of opening stock for the beginning of July?

SIM. Companies undertake Enterprise Resources Planning (ERP) for the following reason(s)……….

SIM.  How many variables do we have in the above statement?