Inventory Management MCQ Questions and Answers for Practice

Here is the list of Inventory Management MCQ questions and answers available online and pdf download format to practice for exams.

About Inventory Management Quiz

Unlock the secrets to efficient inventory management with our comprehensive collection of multiple-choice questions and answers. Whether you're tasked with managing inventory for a manufacturing facility, a retail store, or an e-commerce business, our repository provides valuable resources to enhance your knowledge. Delve into topics such as inventory turnover, safety stock, reorder points, and supply chain coordination. Each multiple-choice question is designed to deepen your understanding and empower you to make informed decisions in managing your organization's inventory. From exploring the advantages of inventory management software to learning about the latest trends in inventory optimization techniques, our MCQs offer valuable insights into the essence of successful inventory management practices. Start exploring today to streamline your inventory processes, reduce costs, and improve overall operational efficiency!

Inventory Management MCQ Questions for Practice

1. Which of the following is true for Inventory control?

2. Which of the following is true for Inventory control?

3. Which product is usually bought on a fixed interval basis?

4. Which product is usually bought on an ROP basis?

5. A fixed-interval ordering system would be used for items that have independent demand.

6. A store that sells daily newspapers could use the single-period model for reordering.

7. A two-bin system is essentially a simple reorder point system.

8. Average stock level can be calculated as

9. Holding and ordering costs are inversely related to each other.

10. If a decrease in unit price causes the average demand rate to increase, which one of these would not increase?

11. If average demand for an item is 21 units per day, safety stock is 4 units, and lead time is 2 days, the ROP will be:

12. In an A-B-C system, B items typically represent about this percentage of items:

13. In the basic EOQ model, annual ordering cost and annual ordering cost are equal for the optimal order quantity.

14. In the two-bin system, the quantity in the second bin is equal to the:

15. Increasing the order quantity so that it is slightly above the EOQ would not increase the total cost by very much.

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