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1. The ‘Just-In-Time’ (JIT) philosophy aims to minimize stock-holding costs by planning the arrival of raw materials and components just as they are needed.
2. Free on board (FOB) is where customers only take responsibility after the goods have reached a named foreign destination.
3. What name is given to a distributional channel in which exports are sent to a ‘satellite’ warehouse/ depot in another country which then acts as a ‘break bulk’ point?
A. Free-carrier system
B. Ex-works system
C. Transit system
D. Direct system
4. In an automobile manufacturing facility, the management has brought down the cost of ordering of automotive components from Rs 500 to Rs 50 through the introduction of electronic ordering. The annual demand of cars is 15,000 units. Inventory carrying cost of automotive components is Rs 20 per unit per year. The inventory turnover ratio in both the cases would be
A. 33.64 And 107.48
B. 34.64 And 109.48
C. 32.64 And 112.48
D. 35.64 And 111.48
5. The typical aim of the push approach to supply chain management is ____________ .
A. To Reduce Costs of Distribution
B. To Enhance Product and Service Quality
C. To Reduce Costs of New Product Development
D. Both First and Third Answer Above
Answers: 1 (A), 2 (B), 3 (C), 4 (B), 5 (D)
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