Production Planning & Control

Being an inventory manager, what recommendation do you suggest for inventory store of Ajay Company?

Q1. Buffer inventory is also called
  1. Inventory stock
  2. Safety stock
  3. Transit stock
  4. Buffer stock
Q2. Qualitative forecasting is
  1. Intrinsic forecast
  2. Forecasts that are generated from information that does not have a well defined analytic structure
  3. Based on random pattern
  4. None of the above
Q3. Approach of Cycle counting in Inventory management in which the inventory item likely to be low when new items are received
  1. Zone system
  2. Transaction system
  3. Receiver system
  4. Negative system
Q4. Total needed quality on week by basis is
  1. Net requirements
  2. Gross requirement
  3. Master Schedule
  4. None of the above
Q5. Transit inventory is
  1. Inventory that is purposely placed between operations to allow them to operate independently of one another
  2. Safety stock
  3. Inventory in motion from one activity to another
  4. None of the above
Q6. Controlling of the actual activity of making a product or delivering a service is
  1. Scheduling
  2. Production Activity Control
  3. The Pull System
  4. None of the above
Q7. Drum-buffer-rope is
  1. Shipping time buffer
  2. Constraint time buffer
  3. Assembly time buffer
  4. Scheduling system developed for the theory of constrains and is closely related to a pull system inherent with lean production
Q8. A simple visual aid which schedule work according to the priority, but also access the states of all jobs in order is
  1. Total slack
  2. Critical ratio
  3. Slack per operation
  4. Gantt chart
Q9. Location of each item has its own distinctive location in stockrooms and ware-house
  1. Random
  2. Zoned random
  3. Home base
  4. None of the above
Q10. Economic models for causal forecasting involves
  1. Examining of flow of goods and services throughout the entire economy
  2. A statistical analysis of various sectors of the economy
  3. Gathering of data for individual products
  4. None of the above
Part Two:
Q1. Write a short note on Anticipation inventory?
Q2. Define “Master production schedule”?
Q3. Write a short note on Allocation?
Q4. What do you understand by capacity planning?
Q5. Determine DRP records for all four warehouses?
Q6. What will be the DRP structure for the above four warehouses?
Q7. How should M22 item be handled and why?
Q8. Being an inventory manager, what recommendation do you suggest for inventory store of Ajay Company?
Q9. Discuss about inventory management? Explain in detail about Economic order Quantity?
Q10. Provide brief about Capacity Requirement Planning?
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