WGU C215 CH12 Pre/Post Quiz &
Practice
raw materials inventory - correct ans-What are purchased items or extracted materials
that will be transformed into components or products called?
anticipation inventory - correct ans-Which inventory function specifically is designed to
allow the company to maintain a level production strategy?
anticipation inventor - correct ans-Which is the primary inventory function that is
activated after coupons are distributed to customers?
(tD)/365 - correct ans-Which of the following allow you to calculate the average amount
of inventory in transit?
whether the product is available when the customer wants it. - correct ans-In inventory
management, when discussing customer service we mean:
annual cost of goods sold / average inventory in dollars - correct ans-What is the
formula for inventory turnover?
inventory building to leverage reduced setup costs - correct ans-Companies can
achieve cost-efficient operations by using which of the following inventory approaches?
continuous operations - correct ans-If inventory records fail to accurately reflect the
quantity of materials available, all except which of the following may occur?
poor customer service, lower productivity, poor material planning, excessive expediting -
correct ans-Name four effects if inventory records fail to accurately reflect the quantity of
materials available
Periodic counting generally counts every item in stock, whereas annually cycle counting
generally does not daily. - correct ans-Which of the following statements is true?
JIT inventory - correct ans-Which of the following is not one of the six ways to use
inventory?
anticipation inventory/seasonal inventory
fluctuation inventory/ safety stock
transportation/pipeline inventory
lot-size Inventory / cycle Stock
speculative/hedge inventory
MRO inventory - correct ans-What are the six ways of using inventory?
They are examples of MRO inventory - correct ans-Hand tools, lubricants, and cleaning
supplies are usually examples of what?
distribution inventory - correct ans-Finished goods in transit to the customer are called
what?
speculative inventory - correct ans-Which inventory function provides a cushion against
unexpected supply shortage or inflation?
MRO inventory - correct ans-Which of the following inventory functions does not involve
end products sold to customers?
transportation inventory - correct ans-Which inventory function exists between the
manufacturing plant and the distribution plant?
all orders and customers have similar value. - correct ans-Percentage of orders shipped
on schedule is a good measure of finished goods customer service if:
Practice
raw materials inventory - correct ans-What are purchased items or extracted materials
that will be transformed into components or products called?
anticipation inventory - correct ans-Which inventory function specifically is designed to
allow the company to maintain a level production strategy?
anticipation inventor - correct ans-Which is the primary inventory function that is
activated after coupons are distributed to customers?
(tD)/365 - correct ans-Which of the following allow you to calculate the average amount
of inventory in transit?
whether the product is available when the customer wants it. - correct ans-In inventory
management, when discussing customer service we mean:
annual cost of goods sold / average inventory in dollars - correct ans-What is the
formula for inventory turnover?
inventory building to leverage reduced setup costs - correct ans-Companies can
achieve cost-efficient operations by using which of the following inventory approaches?
continuous operations - correct ans-If inventory records fail to accurately reflect the
quantity of materials available, all except which of the following may occur?
poor customer service, lower productivity, poor material planning, excessive expediting -
correct ans-Name four effects if inventory records fail to accurately reflect the quantity of
materials available
Periodic counting generally counts every item in stock, whereas annually cycle counting
generally does not daily. - correct ans-Which of the following statements is true?
JIT inventory - correct ans-Which of the following is not one of the six ways to use
inventory?
anticipation inventory/seasonal inventory
fluctuation inventory/ safety stock
transportation/pipeline inventory
lot-size Inventory / cycle Stock
speculative/hedge inventory
MRO inventory - correct ans-What are the six ways of using inventory?
They are examples of MRO inventory - correct ans-Hand tools, lubricants, and cleaning
supplies are usually examples of what?
distribution inventory - correct ans-Finished goods in transit to the customer are called
what?
speculative inventory - correct ans-Which inventory function provides a cushion against
unexpected supply shortage or inflation?
MRO inventory - correct ans-Which of the following inventory functions does not involve
end products sold to customers?
transportation inventory - correct ans-Which inventory function exists between the
manufacturing plant and the distribution plant?
all orders and customers have similar value. - correct ans-Percentage of orders shipped
on schedule is a good measure of finished goods customer service if:
