Whichstatement about JIT is NOT CORRECT?

It assumes that input parts quality will changeover time

Whatdoes BATNA stand for?

Best Alternative To a Negotiated Agreement

Aneffective negotiator will NOT

Establish upper & lower ranges for each minor and majorissue

Inventoryturnover rate is calculated by

dividing the annual purchase cost by average inventory

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Inventory Control

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Teaching and Learning activity related to pharmaceutical inventory management

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Questions 15

Answers

1
Whichstatement about JIT is NOT CORRECT?
Manufacturers can be affected by effects of changingprices
It assumes that input parts quality will changeover time
Right material, at the right time, at the right place
Rely on signals between different points in manufacturing
2
Stockrotation is part of
Receiving process
Storing process
Manufacturing process
Distribution process
3
Justin time (JIT), inventory management originated in?
America
Japan
China
Germany
4
Which options is NOT an aim for inventory management fora pharmaceutical company?
Economies of sale
Minimize holding cost
Economies of scale
Minimize carrying cost
5
Which type of question is about ordering is NOT answered by EOQ?
Where
How
What
When
6
EOQstands for?
Economicorder quantity
Economic order question
Economicorder quality
Economic order quotient
7
Whatdoes BATNA stand for?
Best Alternative To a Negotiated Agreement
BestAgenda To Negotiation an Agreement
BestAim To Negotiate an Agreement
BestAbility To Negotiate an Agreement
8
Whichcost is the most difficult to measure?
Acquisition cost
Carrying cost
Shortage cost
Procurement cost
9
An inventory turnover rate of 0.3 indicates
Overstocking
Understocking
Periodic stocking
Ideal stocking
10
Controlledsubstances require
Periodic ordering
Visual ordering
Perpetual ordering
Ad hoc ordering
11
Whichone is not an inventory control method?
Perpetual
Manual
Visual
Ad hoc
12
What type of inventory caters for fluctuationsin demand and supply of goods?
Pipeline stock
Buffer stock
Cycle stock
Anticipatory stock
13
Aneffective negotiator will NOT
Establish upper & lower ranges for each minor and majorissue
Buildon common ground between parties
Makefewer counterproposals
Present ample reasons to avoid argumentation
14
Whichof these is NOT a type ofmanufacturing inventory in a pharmaceutical company?
Work in process
Finished material
Maintenance supply
Raw material
15
Inventoryturnover rate is calculated by
divingthe annual holding cost by average inventory
divingthe average inventory by annual holding cost
divingthe average inventory by annual purchase cost
dividing the annual purchase cost by average inventory

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