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Production and Operations Management Multiple Choice Questions and Answers | Production and Operations Management MCQs Quiz

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Free download in PDF Production and Operations Management Multiple Choice Questions and Answers for competitive exams. These short objective type questions with answers are very important for Board exams as well as competitive exams like UPSC, NDA, SSC etc. These short solved questions or quizzes are provided by Gkseries./p>

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(1) Cycle counting
[A] Provides a measure of inventory turnover.
[B] Assumes that all inventory records must be verified with the same frequency.
[C] Cannot be done in an independent demand situation.
[D] Is a process by which inventory records are verified.
Answer: Is a process by which inventory records are verified.
(2) Policies based on ABC analysis might include investing
[A] More in inventory security for C items.
[B] More in supplier development for A items.
[C] The most time and effort verifying the accuracy of records for B items.
[D] Extra care in forecasting for C items.
Answer: More in supplier development for A items.
(3) Higher demand uncertainty provides higher savings by pooling which of the following inventory?
[A] Seasonal inventory
[B] Pipeline inventory
[C] Safety inventory
[D] Decoupling inventory
Answer: Safety inventory
(4) The two most important inventory-based questions answered by the typical inventory model are
[A] When to place an order and what is the cost of the order.
[B] When to place an order and how many of an item to order.
[C] How many of an item to order and with whom the order should be placed.
[D] How many of an item to order and what is the cost of this order.
Answer: When to place an order and how many of an item to order.
(5) Cycle inventory helps in
[A] Taking care of any special event that does not occur on a regular basis
[B] Taking care of uncertainty in demand and supply of products/components
[C] Finding out the amount of stock required during a finite period in order to move the materials from one location to another
[D] Taking advantage of economies of scale and reducing cost within the supply chain
Answer: Taking advantage of economies of scale and reducing cost within the supply chain
(6) Centralized system will provide benefits for the items which
[A] Are fast-moving
[B] Are slow moving and have high demand variability
[C] Have low demand variability
[D] Have high demand variability
Answer: Are slow moving and have high demand variability
(7) The difference(s) between the basic EOQ model and the production order quantity model is (are) that
[A] The production order quantity model does not require the assumption of known, constant demand.
[B] There are no holding costs in the production order quantity model.
[C] The production order quantity model does not require the assumption of instantaneous delivery.
[D] The eoq model does not require the assumption of known, constant lead time.
Answer: The production order quantity model does not require the assumption of instantaneous delivery.
(8) The inventory which is dependent on alternative modes of transportation is known as
[A] Safety inventory
[B] Pipeline inventory
[C] Decoupling inventory
[D] Seasonal inventory
Answer: Pipeline inventory
(9) Inventory record accuracy would be decreased by
[A] Abc analysis.
[B] Increasing stockroom accessibility.
[C] Cycle counting.
[D] reorder points.
Answer: Increasing stockroom accessibility.
(10) A system that keeps track of each withdrawal or addition to inventory continuously is
[A] A perpetual inventory system.
[B] A continuous inventory system.
[C] A fixed period system.
[D] A fixed quantity system.
Answer: A perpetual inventory system.
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