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Business - Stock Control Flashcards | StudBud

Explore/Business - Stock Control

Business - Stock Control

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Questions 10

Answers

1
A stock system where stock is delivered just as it is needed and no surplus stock is kept?
Just in Case
Just In Time
Supply
Just Invoice
2
What is the re-order stock level?
The level at which the business runs out of stock
The level at which a new product is found
the level at which a new stock order is placed
The level at which a new delviery comes in
3
Which of these is a disadvantage of Just in Time stock control?
High Cost
High Storage Costs
High Insurance costs
Dependancy on Suppliers
4
An advantage of the Just in Case stock management system is?
Low storage costs
Can sometimes run out of stock
Less money tied up in stock
Stock is always available
5
What is Buffer Stock?
The level at which stock is ordered
maxium stock which can be held
the lowest amount of stock to be kept by a business
Surplus to requirments
6
Which stock system holds sufficient stock to cope with uncertainity in supply and demand?
Just in Time
Insured Stock
Stock Keeping
Just in Case
7
An effective Just in Time stock management system relies heavily on?
Sales
Storage
Invoices
Reliable Suppliers
8
Which of these are NOT a type of stock?
Just in Case
Finished Goods
Raw Materials
Semi-finished goods
9
Which of these is an advantage of the Just in Case stock control method?
Stock is always up to date
Less storage in needed
Less money tied up in Stock
Unexpected increase in demand can be met
10
What is stock?
Material a business holds
Materials after profit
Material a business sells
Material a business orders