Quiz Start Time: 03:00 PM
Time Left 9
sec(s)
Question # 1 of 10 ( Start time: 03:00:48 PM ) Total Marks: 1
If the forecast error in the demand of an item is of Mean Absolute deviation of 2.50 units then which of the following will be its approximate Standard Deviation?
Select correct option:
3
2
1
0
Quiz Start Time: 03:00 PM
Time Left 19
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Question # 2 of 10 ( Start time: 03:02:13 PM ) Total Marks: 1
Which of the following is the major objective of the ABC analysis of inventory?
Select correct option:
To fulfill the demand of items
To replace the required items in proper time
To control the inventories
To classify the items in different categories
Quiz Start Time: 03:00 PM
Time Left 29
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Question # 3 of 10 ( Start time: 03:03:29 PM ) Total Marks: 1
If the demand of an item is occurred in the period of stock out and it is satisfied at the beginning of the next cycle then such type of problem will discuss under which of the following?
Select correct option:
Purchasing Model with shortages
Purchasing Model with no shortages
Quiz Start Time: 03:00 PM
Time Left 59
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Question # 4of 10 ( Start time: 03:04:41 PM) Total Marks: 1
If the total inventory in one cycle of ‘t’ units of time is ‘(1/2)Qt’, then which of the following is the average ineventory at any time?
Select correct option:
Q/t
Q/2
(Q/2)t
2Q
Quiz Start Time: 03:00 PM
Time Left 22
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Question # 5of 10 ( Start time: 03:05:21 PM) Total Marks: 1
In the graph of the Purchasing Model with shortages, the area under the horizontal axis represents ———–.
Select correct option:
carrying cost of item
set up cost of item
shortage cost of item
purchase cost of item
Quiz Start Time: 03:00 PM
Time Left 21
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Question # 6 of 10 ( Start time: 03:06:34 PM ) Total Marks: 1
Which of the following category of items in ABC analysis has the maximum Holding Cost?
Select correct option:
A category
B category
C category
All categories’’ items have equal Holding Costs
Quiz Start Time: 03:00 PM
Time Left 29
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Question # 7 of 10 ( Start time: 03:07:46 PM ) Total Marks: 1
A single cycle consists of two phases in case of “Manufacturing without Shortage ”, then which of the following is the first phase?
Select correct option:
Withdrawl of items from inventory at constant rate in per unit of time
The inventory is assembled at constant rate per unit of time
Quiz Start Time: 03:00 PM
Time Left 19
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Question # 8 of 10 ( Start time: 03:09:05 PM ) Total Marks: 1
If the demand rate of an item is 600 per month and the lead time is 02 months, then which of the following is lead time demand for this item?
Select correct option:
300 items
602 items
1200 items
598 items
Quiz Start Time: 03:00 PM
Time Left 15
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Question # 9 of 10 ( Start time: 03:10:26 PM ) Total Marks: 1
If the forecast error in the demand of an item is of Standard deviation of 2.50 units then which of the following will be its approximate Mean Absolute Deviation?
Select correct option:
1
-1
2
-1
Quiz Start Time: 03:00 PM
Time Left 51
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Question # 10 of 10 ( Start time: 03:11:50 PM ) Total Marks: 1
Which of the following quantity will vary in case of Dynamic Order Quantity Model?
Select correct option:
Setup Cost
Carrying Cost
Item Cost
Demand
Quiz Start Time: 03:14 PM
Time Left 72
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Question # 2of 10 ( Start time: 03:15:41 PM) Total Marks: 1
In the Purchasing Model with Shortages the Cost Function ‘C(S,Q)’ can also be expressed as function of ————–.
Select correct option:
(t,D)
(Q,D)
(S,t)
(S,D)
Quiz Start Time: 03:14 PM
Time Left 9
sec(s)
Question # 3 of 10 ( Start time: 03:16:12 PM ) Total Marks: 1
In the Dynamic Order Quantity problem, the Demands of all succeeding months can be included in the demand of preceding one provided that ————.
Select correct option:
Item and Holding Costs are balanced
Shortage and Setup Costs are balanced
Setup and Holding Costs are balanced
Shortage and Item Costs are balanced
Quiz Start Time: 03:14 PM
Time Left 7
sec(s)
Question # 4of 10 ( Start time: 03:17:39 PM) Total Marks: 1
For ABC analysis, in the Random Sample of some items, the ranks to the items are assigned with respect to their —————-.
Select correct option:
lowest annual unit cost
largest annual unit cost
lowest annual usage value
largest annual usage value
Quiz Start Time: 03:14 PM
Time Left 82
sec(s)
Question # 5 of 10 ( Start time: 03:19:11 PM ) Total Marks: 1
If the total inventory in one cycle of ‘t’ units of time is ‘(1/2)Qt’, then which of the following is the average ineventory at any time?
Select correct option:
Q/t
Q/2
(Q/2)t
2Q
Quiz Start Time: 03:14 PM
Time Left 61
sec(s)
Question # 6of 10 ( Start time: 03:19:21 PM) Total Marks: 1
In the Dynamic Order Quantity problem if the ratio of Setup and Carrying Costs is ‘500’ and the Demands of 2nd and 3rd months are 50 and 120 respectively then which of the following is true about the 2nd month’s requirment?
Select correct option:
2nd month demand can be included in 1st month
2nd month demand will have to fulfill in 2nd month
2nd month demand can be included in 3rd month
2nd month demand can be included in any month of the year
Quiz Start Time: 03:14 PM
Time Left 17
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Question # 7 of 10 ( Start time: 03:19:52 PM ) Total Marks: 1
The Economic Order Quantity in case of Manufacturing Model without Shortage can be transformed into Purchasing Model without Shortage by which of the following substitution?
Select correct option:
When Replacement rate ‘R’ approaches zero
When Replacement rate ‘R’ approaches infinity
When Demand rate approaches zero
When Demand rate approaches infinity
Quiz Start Time: 03:14 PM
Time Left 46
sec(s)
Question # 8 of 10 ( Start time: 03:21:10 PM ) Total Marks: 1
Under which of the following condition, the Economic Order Quantity (EOQ) of Manufacturing Model with allowed Shortage can be transformed into the same Model without Shortage?
Select correct option:
When Setup Cost is zero
When Setup Cost is infinity
When Shortage Cost is infinity
When Shortage Cost is zero
Quiz Start Time: 03:14 PM
Time Left 37
sec(s)
Question # 9of 10 ( Start time: 03:21:56 PM) Total Marks: 1
Which of the following is true about the Manufacturing model without Shortage?
Select correct option:
Demand rate = Replacement rate
Demand rate > Replacement rate
Demand rate < Replacement rate
None of the above choices
Quiz Start Time: 03:14 PM
Time Left 73
sec(s)
Question # 10of 10 ( Start time: 03:22:53 PM) Total Marks: 1
Which of the following is the is major assumed difference between the models of Purchasing and Manufacting without shortage ?
Select correct option:
Replacement rate
Shortage
Demand
Item, Setup and Holding Costs