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Question 1

Who devised the INCOTERMS?

Options :

A : International Chamber of Civil Engineers

B : International Chamber of Commerce

C : International Cubical of Civil Engineers

D : International Cubical of Commerce

Answer: B

Question 2

Which of the following is a definition of the economic order quantity – EOQ?

Options :

A : Formula that buyers use to calculate the most economically viable quantity in which to order additional stock

B :

Formula that buyers use to calculate the most economically viable price in which to order additional stock

C : Formula that buyers use to calculate the most economically viable place in which to order additional stock

D : Formula that buyers use to calculate the most economically viable quantity in which to order additional stock

Answer: A

Question 3

What would you typically see on a gantt chart?

Options :

A : Anniversary

B : Breakthrough

C : Landmark

D : Milestones

Answer: D

Question 4

The MRP refers to minimum order quantity, batch quantities and buffer stock to arrive at an order and creates BOM for each product ordered. What does BOM stand for?

Options :

A :

Bill of manufacturing

B : Bill of materials

C : Bill of measurements

D :

Bill of motion

Answer: B

Question 5

Which of the following are Inventory control techniques that organisations can use? Select all that apply

Options :

A : JIT

B : Kanban

C : MRP

D : PIP

Answer: A,B,C