Inventory Management MCQ Questions and Answers for Practice

Inventory Management MCQs are designed to test and enhance your understanding of inventory control and management. These questions are ideal for students and professionals preparing for exams, interviews, and career advancement.

About Inventory Management MCQ Questions

Inventory Management MCQs cover a wide range of topics including inventory control techniques, demand forecasting, supply chain management, and stock management strategies. These questions are crafted to ensure a comprehensive understanding of the principles and practices involved in efficiently managing inventory levels.

Why Practice Inventory Management Objective Questions?

Practicing these MCQs can significantly improve your performance in exams, interviews, and real-world scenarios. They help reinforce key concepts, enhance problem-solving skills, and prepare you for various assessment formats. Regular practice also aids in identifying weak areas and building confidence in your knowledge of inventory management.

Who Should Use These MCQs?

  • Students preparing for school or college exams
  • Competitive exam aspirants
  • Candidates preparing for interviews

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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