APP Inventory, Logistics & Supply Chain Management

Question 1

What is the main goal of inventory management?

Accepted Answer

Balance cost and service level

Answer

Maximize storage costs

Answer

Minimize product availability

Answer

Reduce taxes

Question 2

What is the Economic Order Quantity (EOQ) model used for?

Accepted Answer

Optimize order size

Answer

Set reorder points

Answer

Forecast future sales

Answer

Track shipments

Question 3

What does Just-in-Time (JIT) inventory management aim to reduce?

Accepted Answer

Inventory waste

Answer

Production capacity

Answer

Employee workload

Answer

Customer service

Question 4

Which function is most associated with logistics?

Accepted Answer

Goods transportation

Answer

Product design

Answer

Supplier evaluation

Answer

Customer research

Question 5

Which of the following best describes the supply chain?

Accepted Answer

All steps from sourcing to delivery

Answer

Only warehousing operations

Answer

Retail sales systems

Answer

Manufacturing alone

Question 6

Why is supply chain integration important?

Accepted Answer

To improve coordination

Answer

To increase silos

Answer

To reduce communication

Answer

To complicate logistics