REGISTER TO START YOUR EXAMINATION

SIM. A4 paper used in printing an invoice an example of ……………………… stock

SIM. All these prompt the use of ERP except ……………….

SIM. The most crucial and critical information used in Materials Requirement Planning is ……….

SIM. All of the models are objective forecasting techniques except?

SIM. Cube utilization and accessibility as to do with ……….

What is the ordering cost per unit per month of materials used in production of Sandal?

During our first job on graduate trainee scheme, Olamide Mariam was given the following records of transactions for items and asked for her view of value of safety stock. Base on the information on the above table, use this to answer this question and the next four.

What is the value of closing stock at the end of June?

SIM. What is the difference between inventory management and warehousing?

SIM. A unit of a stock is the …………………..  size or quantity of an item.

SIM. What is the value of opening stock for the beginning of July?

SIM. Assuming the unit cost is $ 320 what is the cost of safety stock at the end of June.

SIM. Key Performance Indicator in warehousing practice includes the following except……...

SIM. The major player in a supply chain are …………………

SIM. The basic building block to Inventory Management includes all but

SIM. Pipeline inventory is the inventory kept while work is ongoing or item on …………….?

SIM. All are types of partnership except…….. ….

SIM. N Harris (1915) and Naddar (1966) come up with concepts of inventory problem solving by resulting into three simple costs which includes?

SIM.  The path for movement within the warehouse is called ……………….

SIM. The following is an example of benefit output of a MRP except………………….

SIM. Operational planning that imbibed simple schedule rules with order of arrival is called ……….

SIM. What is the cost of holding the raw materials used in production?

SIM. The objectives of a warehouse are as follow ………………..

SIM. An inventory waiting for shipment and which can also be served as a sub material for final product of another product is called ………………….

SIM. A warehouse will do the following except ………………..

SIM. One of these is not a projective method of forecasting into the future?

SIM. Enterprise Resource Planning promises one database, one application and ……….

SIM. A production system where the same types of products are manufactured to meet continuous demand for the product which is not demand responsive and in large quantity is called ………..

SIM. Which of the following is not a difference between a public and a private limited company?

SIM.   What are the factors that influence effective use of a warehouse?

SIM.  What are the major component of logistics.

SIM. The order point in a KPI flow chart is the summation of safety stock and …………….

SIM.  What is the value of stock out of Sandal?

SIM. The easiest arrangement of warehouse to imagine where all activities are controlled by human muscular power is referred to as ……….

SIM. Outbound logistics offered the following activities excluding ….……….

SIM. A laptop is an example of a warehouse because………………..

SIM. Who are organization internal customers………………..

SIM. The engagement of Automated Guided Vehicle in overcoming long distance and high altitude in the warehouse is termed …………………..

SIM. A correlation coefficient of 0.98 implies a ………………….

SIM. Operational planning that encouraged and assigned priority and emergence to job is called ……….

SIM. When can we have a perfect Just in time principle of inventory ………………..

SIM. Characteristics of Manpower as a key asset in warehouse are …………..

SIM. What is the value of safety stock using Last in first out at the end of June?

SIM. An item is a ………….. product kept in the stock

SIM. What is the most essential factors that influence effective use of a warehouse?

SIM. Definition of Inventory among other things makes use of the following phrases?

SIM. Categories of stocks that are base on timing of use are called………………..

SIM.  A well structured Materials Requirement Planning sourced information from how many sources.

SIM. A warehouse where human muscular power is replaced by machines such as fork lift is called ….

SIM. The aim of the warehousing is to provide necessary storage at a key point in supply chain, giving secure storage of needed materials, keeping them in good condition with little damage or loss with ………………………………. and ………………………………

LM. USE THIS EQUATION  TO ANSWER THE NEXT FIVE QUESTIONS

The production of Peak Milk for the past 15 years between year 2000 and 2014, was reflected with the multiple regression model, Y = 3.12 + 0.75X₁ + 0.52X₂ + 0.84X_3. Hence, use the above information to answer question 8 to 12.

The production of milk in year 2030 when X₁ = 215, X₂ = 308 and X₃ = 178

SIM. Companies undertake Enterprise Resources Planning (ERP) for the following reason(s)……….

SIM. All these are method of evaluating safety stock except ……….

SIM. What are the reasons individual and/or organization keep inventory?

SIM. The managerial function that is concerned with production facility required and the way it should be laid down is termed……………….

SIM. How many independent variable(s) do we have in the above statement?

SIM. What type of model is this Y=a + bX?

SIM. Categories of stocks that are base on usage are called………………..

SIM.   Advantages of central storage include ……………….

SIM. The key warehousing assets includes the following except ……….

SIM. The assignment of stock in a permanent location, where no other items are placed there is called……….

SIM.   ……………… is the computation and mathematical adjustment on how organization scheduled and finalized operational activities

SIM. When you make a decision to run your business as a sole trader, this means:

SIM. In warehousing facilities structure and ownership, there are several types of warehousing structures, what are these?

SIM. The problems with Materials Requirement Planning can be as a result of the following except?

SIM. Long time forecasting is the one that span through several…………

SIM.   What is the observable or number of cases in the statement?

SIM. What explodes the master schedules to plan of supply of materials

SIM.  How many variables do we have in the above statement?

SIM. Just in time inventory is referred to a situation where the ……........ and ………. at …………. lead time

What is the value of safety stock using First in first out (FIFO) principle at the end of June?

SIM. How many dependent variable(s) do we have in the above statement?

SIM. In a partnership under the Partnership Act 1890, the partners:

SIM. Typical form of a warehouse includes the following except……………….

SIM. Types of members of partnership include the following except ...............

SIM. Car engine oil is an example of ……………………… stock

SIM. The key facilities in a typical warehouse are as follow ……...

SIM. Why is not desirable to have inventory?

SIM. Short time forecasting is the one that between ………… and a year

SIM.  The concept of limited liability in relation to a company means:

SIM.  The inability to estimate the demand correctly or due to uncertain demand lead to reason for inventory is referred to as  ……………….

SIM.  Just in case inventory is referred to a situation where the ……........ and ………. at …………. lead time

SIM. A stock is the store of an ………………….. for future use

SIM. The production of automobile like Toyota Mercedes Benz and so on fall into what categories of production system ………..

Which of the following is not an attribute of the legal personality of a registered company?

SIM. A correlation coefficient can vary between?

SIM. Safety stock is carried out to guide against various deviations such as the following except……….

SIM. The most important and critical key asset in warehousing is .……….

SIM. The subjective method of forecasting that relied on historical books like Bible and Quran is called ………………….

SIM. A Bought-Out-Part inventory is that goes directly into

SIM. A cycle stock is a sequential and continuous replenishment of stock involving ……… stages.

SIM. One of these is not a subjective method of forecasting into the future?

SIM. Categories of stocks that are used without seeing the stock in the final product is called………..

SIM.   An inventory whereby the components goes directly into assemblage of final products and from different manufacturers is called ………………….

SIM. The solution to the concept of inventory problems dealt with two aspect………… and ………….

SIM. A production category system where products are made to satisfy a specific order and always in a small lot size and custom in nature is called……………….

SIM. A production system of manufacturing a number of identical articles either to meet a specific order or demand or to meet a continuous demand which is demand responsive is called……..

The unit cost of producing LAIDE sandal includes the following cost, N200 for holding the raw materials in the warehouse and N60, N20, and 80N for loading, telephoning, invoicing respectively. If the unit in the warehouse is 2,500 and also at a point in time there is a stock of 600 sandal at the rate of N3400. Use this information to answer the question below and the next three.

What is the ordering cost of the materials used in production?

SIM. A warehouse location system where cube utilization is not being practice is known as……….

SIM. An item or materials put to manufacturing system is called………………

SIM. What type of model is this Y= a + b₁X_{1 +} b₂X₂?