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Certified in Planning and Inventory Management(Part 2)

Last Update May 22, 2024
Total Questions : 151

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Last Update May 22, 2024
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Certified in Planning and Inventory Management(Part 2) Questions and Answers

Questions 1

An advantage of applying ABC classification to a firm's replenishment items is that:

Options:

A.

it distinguishes independent demand from dependent demand.

B.

it allows planners to focus on critical products.

C.

it provides better order quantities than the economic order quantity (EOQ]).

D.

it allows the firm to utilize time-phased order point (TPOP).

Questions 2

To successfully empower individuals to drive change, an organization should:

Options:

A.

ensure everyone can clearly articulate the business's vision and strategy.

B.

conduct thorough training programs for all levels of employees.

C.

align performance appraisals with the business's vision.

D.

establish and track broad change metrics on a quarterly basis.

Questions 3

Potential reasons to make instead of buy a product may include:

Options:

A.

maintain core competencies, increase capital expense, and reduce cost.

B.

less capital investment, large volume changes, and reduce cost.

C.

maintain quality, reduce cost, and keep confidential processes within the firm.

D.

eliminate risks associated with single sourcing, create intermittent flow, and reduce cost.