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STORES AND MATERIALS MANAGEMENT

Welcome to Membership Exams.  We wish you all the best as you kick start a wonderful career with us

ONLINE EXAMINATIONS

The online assessment is taken on completion of the training material. You will be asked 100 multiple choice questions with a pass mark of 50%. The answers are marked automatically so you will instantly know whether you have passed. If you don’t pass don’t worry! You can take the Exam again

Whether you are a student on our platform or not we encourage you to email your enquires to our friendly team if you need help with anything at info@membershipexams.com

 

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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 ………..

2 / 50

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

3 / 50

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

4 / 50

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

5 / 50

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

6 / 50

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

7 / 50

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

8 / 50

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

9 / 50

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

10 / 50

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

11 / 50

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

12 / 50

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.

 

DatePurchase No.Unit cost ($)Sales no.Unit price ($)
Opening balance80180  
January5020050200
February  40350
March60220  
April6026050280
May50300  
June  40350

 

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

13 / 50

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

14 / 50

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

15 / 50

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

16 / 50

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

17 / 50

SIM. A correlation coefficient can vary between?

18 / 50

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

19 / 50

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

20 / 50

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

21 / 50

SIM. What type of model is this Y= a + b1X1 + b2X2?

22 / 50

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

23 / 50

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

24 / 50

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

25 / 50

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

26 / 50

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

27 / 50

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

28 / 50

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

29 / 50

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

30 / 50

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

31 / 50

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

32 / 50

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

33 / 50

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

34 / 50

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

35 / 50

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 + 0.84X3. 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

36 / 50

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

37 / 50

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

38 / 50

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

39 / 50

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

40 / 50

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

41 / 50

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

42 / 50

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

43 / 50

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

44 / 50

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

45 / 50

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

46 / 50

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

47 / 50

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

48 / 50

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

49 / 50

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

50 / 50

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

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