CHL Inventory and Supply Management 2

Question 1

A hospital supply manager notices that a critical surgical item frequently runs out mid-month despite reorder points being set. Which corrective action is MOST appropriate?

Accepted Answer

Increase the reorder quantity and safety stock level

Answer

Increasing reorder quantity and safety stock directly addresses chronic stockouts by building a buffer against demand variability.

Question 2

Under a consignment inventory agreement, when does the healthcare facility actually pay for the supplies?

Accepted Answer

When the item is used or consumed

Answer

Consignment agreements mean the facility only pays the vendor when an item is actually consumed or used, reducing carrying costs.

Question 3

Which inventory costing method assigns the most recent purchase prices to the cost of goods sold, potentially understating ending inventory value in a period of rising prices?

Accepted Answer

LIFO (Last-In, First-Out)

Answer

LIFO assigns the latest (most expensive) costs to cost of goods sold, leaving older (cheaper) costs in ending inventory, understating its value when prices are rising.

Question 4

A healthcare leader wants to reduce the total cost of ownership (TCO) for medical supplies. Which factor is LEAST likely to be included in TCO analysis?

Accepted Answer

The vendor's annual marketing budget

Answer

TCO includes all costs the facility incurs (purchase, storage, training, disposal), not internal costs of the vendor such as their marketing budget.

Question 5

What is the primary purpose of a par-level system in hospital supply management?

Accepted Answer

To set the maximum and minimum quantity of a supply item to keep on hand

Answer

Par-level systems define the minimum quantity that triggers reorder and the maximum quantity to stock, ensuring consistent availability without overstocking.

CHL - Certified Healthcare Leader Practice Test

CHL - Certified Healthcare Leader Practice Test

CHL Inventory and Supply Management 2