Materials management 01

8/12/2019 Materials management 01

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Materials Management - 4

Select The BlankQuestionInspection methods analyze ________.Correct AnswerDegree o inspection

!our AnswerQuality o material

"ultiple Choice Single Answer

QuestionIn #i$ed%&rder 'uantity system( cycle time o consumption should )e *%Correct Answer"ore than lead time!our Answer+ess than lead%time

Select The BlankQuestionIn the ________ ( the composition o code is in three groups o digits that are

separated )y hyphens( the hyphens ser,es to )reak the code into easy to handlegroup o digits.Correct Answer-odak system!our Answer-odak system


Question

A )uyer gi,es wrong idea to his supplier a)out his re'uirements or show aictitious igure to get some price discount is called as *%Correct Answer"isrepresentation o acts!our Answer"isrepresentation o acts

"ultiple Choice Single AnswerQuestion

IT is an *%Correct Answer

In,entory reduction techni'ue

!our Answerust%in%time

"ultiple Choice Single AnswerQuestionIssues to top up supply to pre%i$ed le,els o items are *%Correct Answer

Imprest issues!our Answer

Imprest issues

True/#alseQuestionTwo )in system is )etter as compared to perpetual in,entory system.Correct Answer
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#alse!our AnswerTrue

"ultiple Choice "ultiple AnswerQuestion

Annual total cost changes *%Correct Answer

I stock turno,er rate changes ( I 'uantity changes!our Answer

I stock turno,er rate changes ( I procurement cost changes ( I set%up costchanges

True/#alseQuestion#unctionally critical parts re'uire to )e co,ered under cent per cent inspectionCorrect AnswerTrue

!our Answer#alse

Select The Blank

Question011 are sent rom ________.Correct AnswerStores Dept.!our AnswerStores Dept.


QuestionCompetiti,e price inormation must )e treated as conidential and should not )e

disclosed to the )idders with an intention o allowing them to re)id is *%Correct AnswerImproprieties o )ids!our Answer2rice disclosure

Select The BlankQuestion

0ood ________ relations are necessary or eecti,e materials planning as e,erydepartment is in,ol,ed in materials planning )ecause each department re'uires

one item or other another.Correct AnswerDepartmental!our AnswerDepartmental


The ollowing are the actions would help to impro,e eecti,eness o materialsplanning *%

Correct AnswerAccurate orecasting ( Computerization ( Shorter materials plan period

!our Answer

Accurate orecasting ( Computerization ( Shorter materials plan period


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"atch The #ollowingQuestionCorrect Answer!our Answer3ournal 3ntries

ournal 3ntries2&

2urchase order2urchase order

0140oods receipt note0oods receipt noteD4Discrepancy note.Discrepancy note.

True/#alse

QuestionCancellation o orders on limsy ground is unethical.

Correct AnswerTrue

!our AnswerTrue

Select The BlankQuestionStandardized containers eliminates ________

Correct AnswerTransit damage

!our AnswerTransit damage

"ultiple Choice Single AnswerQuestion2urchase order oers acceptance and ha,e )een clearly laid down in *%Correct AnswerIndian Contract act 5678!our AnswerIndian Contract act 5678


Question#or the inspection o Stationery which department is responsi)le9Correct AnswerStores!our AnswerStores

"atch The #ollowing

QuestionCorrect Answer

!our Answer#AS :;%8hether the product is within the speciication

!our Answer>hether the product is within the speciication

"ultiple Choice Single AnswerQuestion>hich o the ollowing is not the internal actor inluencing materials planning9

Correct AnswerInternational market

!our AnswerInternational market

"ultiple Choice Single AnswerQuestionThe system should )e designed in such a way that it ser,es the ad,antages thatare e$pected to accrue rom it( is called as *%Correct Answer&)?ecti,e oriented!our Answer

&)?ecti,e oriented

"ultiple Choice Single AnswerQuestion1eal creati,e ideas results *%Correct Answer>hen mem)ers ,entures into impossi)le areas!our Answer>hen opportunity is gi,en to sta


Segregation o scrap means *%Correct Answer

Sorting )y type( size( grade etc. ( Sorting )y grade( weight

!our AnswerSorting )y type( size( grade etc. ( Sorting )y grade( weight


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________clause should )e inserted in the purchase order o items critical topro?ect to induce supplier or early completion o the orders.Correct Answer

Bonus!our Answer

2enalty or delay

True/#alseQuestionSingle tender system is used when there is only one supplier o the item.Correct AnswerTrue!our AnswerTrue


#ollowing are )eneits o scientiic stoke management *%Correct Answer

1eduction in downtime )y eicient issues ( In,entory control ( @ery less timere'uired to identiy issue material!our Answer1eduction in downtime )y eicient issues ( In,entory control ( @ery less timere'uired to identiy issue material

True/#alseQuestion

Stores is the Sae Custody or keeping materialsCorrect Answer

True!our AnswerTrue

True/#alseQuestion@alue analysis is the cost reduction techni'ue.Correct Answer

True!our Answer

True

True/#alseQuestionCodiication a,oids conusion and dou)t caused )y long description o items.Correct AnswerTrue!our Answer

True


Complaints concerning should )e made in such a way that negati,e reactions are

a,oided such as *%Correct Answer


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Deli,ery ailures ( 1e?ection ( Shortages!our AnswerDeli,ery ailures ( 1e?ection ( Shortages

True/#alseQuestion

A irm engaged in custom%)uilt%product( is usually plagued with o)solete material.Correct Answer

True!our Answer

True


________ reers to the procurement o the re'uirements o all departments othe irm )y a central purchase organization.Correct AnswerCentralisation

!our AnswerCentralisation

"ultiple Choice "ultiple Answer

QuestionCon,entional machine set%up time includes *%Correct AnswerTool replenishment ( #irst piece inspection!our AnswerTool replenishment ( #irst piece inspection ( Set%up


QuestionStock%out is due to *%

Correct Answernusual high demands ( Delay in deli,eries!our Answernusual high demands ( Delay in deli,eries ( "achine )reak%down

True/#alseQuestion4egotiation should end up with an unhappy supplier.

Correct Answer#alse

!our Answer#alse

Select The BlankQuestionSystematic( ormal and continuous analysis o all actors aect ________management unction is known as "aterials research.Correct Answer

"aterials!our Answer

"aterials

True/#alse

QuestionSince stock%taking is a check on storekeeper( it should not )e conducted )y him.


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Correct Answer#alse!our Answer#alse


QuestionSalient eatures o the working o the price panel are as under *%

Correct Answersage ,alue a)o,e which the panel is to appro,e o the price is speciied. (

@endor de,elopment department is re'uired to gi,e cost )reak up to thesecretary o the price panel ( "em)ers o the panel meet to scrutinize and discussthe cost aspects.!our Answersage ,alue a)o,e which the panel is to appro,e o the price is speciied. (@endor de,elopment department is re'uired to gi,e cost )reak up to thesecretary o the price panel ( "em)ers o the panel meet to scrutinize and discussthe cost aspects.


QuestionApplication or an import license must )e signed rom *%

Correct Answer2roprietor ( 2artner o irm ( 2erson duly authorized )y )oard o directors ocompany!our Answer2roprietor ( 2artner o irm ( 2erson duly authorized )y )oard o directors ocompany

True/#alse

Question"anual inspection is economical when ,olume o output is small.

Correct AnswerTrue!our AnswerTrue

"ultiple Choice "ultiple AnswerQuestion#or large organizations where product is made up o assem)lies o manuactured

components raw material store is su)di,ided into *%Correct Answer

#oundry store ( Tool cri) ( "aintenance store!our Answer#oundry store ( Tool cri) ( 0oods inward store

True/#alseQuestion2ost parcel consignments are cleared through customs clearance is donethrough oreign post oice.

Correct AnswerTrue

!our AnswerTrue



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>hat is the meaning o discharge o contract )y no,ation9Correct AnswerI the parties agree to su)stitute a new contract in place o e$isting one or alterit( original contract is discharged!our AnswerI the parties agree to su)stitute a new contract in place o e$isting one or alter

it( original contract is discharged


Quantity deli,ered o goods must )e according to the ________.Correct AnswerTerms o contract!our AnswerTerms o contract


>hich o the ollowing is not the e$ternal actor inluencing materials planning9Correct Answer

Corporate o)?ecti,e!our Answer

Corporate o)?ecti,e

at 5*;= A" comments+inks to this post

+a)els* "aterials "anagement


Select The BlankQuestionInspection methods analyze ________.Correct AnswerDegree o inspection!our AnswerQuality o material


In #i$ed%&rder 'uantity system( cycle time o consumption should )e *%Correct Answer

"ore than lead time!our Answer+ess than lead%time

Select The BlankQuestionIn the ________ ( the composition o code is in three groups o digits that areseparated )y hyphens( the hyphens ser,es to )reak the code into easy to handle

group o digits.Correct Answer

-odak system!our Answer

-odak system
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"ultiple Choice Single AnswerQuestionA )uyer gi,es wrong idea to his supplier a)out his re'uirements or show aictitious igure to get some price discount is called as *%Correct Answer"isrepresentation o acts

!our Answer"isrepresentation o acts


QuestionIT is an *%Correct AnswerIn,entory reduction techni'ue!our Answerust%in%time


QuestionIssues to top up supply to pre%i$ed le,els o items are *%

Correct AnswerImprest issues

!our AnswerImprest issues

True/#alseQuestionTwo )in system is )etter as compared to perpetual in,entory system.

Correct Answer#alse

!our AnswerTrue

"ultiple Choice "ultiple AnswerQuestionAnnual total cost changes *%Correct AnswerI stock turno,er rate changes ( I 'uantity changes!our AnswerI stock turno,er rate changes ( I procurement cost changes ( I set%up cost

changes

True/#alseQuestion#unctionally critical parts re'uire to )e co,ered under cent per cent inspectionCorrect AnswerTrue!our Answer#alse


011 are sent rom ________.Correct Answer

Stores Dept.

!our AnswerStores Dept.


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"ultiple Choice Single AnswerQuestionCompetiti,e price inormation must )e treated as conidential and should not )edisclosed to the )idders with an intention o allowing them to re)id is *%Correct Answer

Improprieties o )ids!our Answer

2rice disclosure

Select The BlankQuestion0ood ________ relations are necessary or eecti,e materials planning as e,erydepartment is in,ol,ed in materials planning )ecause each department re'uiresone item or other another.Correct AnswerDepartmental!our Answer

Departmental


The ollowing are the actions would help to impro,e eecti,eness o materialsplanning *%Correct AnswerAccurate orecasting ( Computerization ( Shorter materials plan period!our AnswerAccurate orecasting ( Computerization ( Shorter materials plan period

"atch The #ollowing


!our Answer3ournal 3ntriesournal 3ntries2&2urchase order2urchase order014

0oods receipt note0oods receipt note

D4Discrepancy note.Discrepancy note.

True/#alseQuestionCancellation o orders on limsy ground is unethical.Correct Answer

True!our Answer

True

Select The Blank

QuestionStandardized containers eliminates ________


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Correct AnswerTransit damage!our AnswerTransit damage


Question2urchase order oers acceptance and ha,e )een clearly laid down in *%

Correct AnswerIndian Contract act 5678

!our AnswerIndian Contract act 5678

"ultiple Choice Single AnswerQuestion#or the inspection o Stationery which department is responsi)le9Correct AnswerStores

!our AnswerStores

"atch The #ollowing

QuestionCorrect Answer!our Answer#AS :;%8hether the product is within the speciication!our Answer

>hether the product is within the speciication


Question>hich o the ollowing is not the internal actor inluencing materials planning9


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Correct AnswerInternational market!our AnswerInternational market


QuestionThe system should )e designed in such a way that it ser,es the ad,antages that

are e$pected to accrue rom it( is called as *%Correct Answer

&)?ecti,e oriented!our Answer&)?ecti,e oriented

"ultiple Choice Single AnswerQuestion1eal creati,e ideas results *%Correct Answer

>hen mem)ers ,entures into impossi)le areas!our Answer

>hen opportunity is gi,en to sta

"ultiple Choice "ultiple AnswerQuestionSegregation o scrap means *%Correct AnswerSorting )y type( size( grade etc. ( Sorting )y grade( weight!our Answer

Sorting )y type( size( grade etc. ( Sorting )y grade( weight


________clause should )e inserted in the purchase order o items critical topro?ect to induce supplier or early completion o the orders.Correct AnswerBonus!our Answer2enalty or delay

True/#alse

QuestionSingle tender system is used when there is only one supplier o the item.


"ultiple Choice "ultiple AnswerQuestion#ollowing are )eneits o scientiic stoke management *%

Correct Answer1eduction in downtime )y eicient issues ( In,entory control ( @ery less time

re'uired to identiy issue material!our Answer

1eduction in downtime )y eicient issues ( In,entory control ( @ery less time

re'uired to identiy issue material


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True/#alseQuestionStores is the Sae Custody or keeping materialsCorrect AnswerTrue!our Answer

True

True/#alseQuestion

@alue analysis is the cost reduction techni'ue.Correct AnswerTrue!our AnswerTrue

True/#alseQuestion

Codiication a,oids conusion and dou)t caused )y long description o items.Correct Answer

True!our Answer

True

"ultiple Choice "ultiple AnswerQuestionComplaints concerning should )e made in such a way that negati,e reactions area,oided such as *%

Correct AnswerDeli,ery ailures ( 1e?ection ( Shortages

!our AnswerDeli,ery ailures ( 1e?ection ( Shortages

True/#alseQuestionA irm engaged in custom%)uilt%product( is usually plagued with o)solete material.Correct AnswerTrue!our AnswerTrue

Select The Blank

Question________ reers to the procurement o the re'uirements o all departments othe irm )y a central purchase organization.Correct AnswerCentralisation!our AnswerCentralisation


Con,entional machine set%up time includes *%Correct Answer

Tool replenishment ( #irst piece inspection

!our AnswerTool replenishment ( #irst piece inspection ( Set%up


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"ultiple Choice "ultiple AnswerQuestionStock%out is due to *%Correct Answernusual high demands ( Delay in deli,eries

!our Answernusual high demands ( Delay in deli,eries ( "achine )reak%down

True/#alse

Question4egotiation should end up with an unhappy supplier.Correct Answer#alse!our Answer#alse

Select The Blank

QuestionSystematic( ormal and continuous analysis o all actors aect ________

management unction is known as "aterials research.Correct Answer

"aterials!our Answer"aterials

True/#alseQuestion

Since stock%taking is a check on storekeeper( it should not )e conducted )y him.Correct Answer

#alse!our Answer

#alse

"ultiple Choice "ultiple AnswerQuestionSalient eatures o the working o the price panel are as under *%Correct Answersage ,alue a)o,e which the panel is to appro,e o the price is speciied. (@endor de,elopment department is re'uired to gi,e cost )reak up to the

secretary o the price panel ( "em)ers o the panel meet to scrutinize and discussthe cost aspects.

!our Answersage ,alue a)o,e which the panel is to appro,e o the price is speciied. (@endor de,elopment department is re'uired to gi,e cost )reak up to thesecretary o the price panel ( "em)ers o the panel meet to scrutinize and discussthe cost aspects.


Application or an import license must )e signed rom *%Correct Answer

2roprietor ( 2artner o irm ( 2erson duly authorized )y )oard o directors ocompany

!our Answer

2roprietor ( 2artner o irm ( 2erson duly authorized )y )oard o directors ocompany


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True/#alseQuestion"anual inspection is economical when ,olume o output is small.Correct AnswerTrue

!our AnswerTrue


Question#or large organizations where product is made up o assem)lies o manuacturedcomponents raw material store is su)di,ided into *%Correct Answer#oundry store ( Tool cri) ( "aintenance store!our Answer#oundry store ( Tool cri) ( 0oods inward store

True/#alseQuestion

2ost parcel consignments are cleared through customs clearance is donethrough oreign post oice.



Question>hat is the meaning o discharge o contract )y no,ation9

Correct AnswerI the parties agree to su)stitute a new contract in place o e$isting one or alter

it( original contract is discharged!our AnswerI the parties agree to su)stitute a new contract in place o e$isting one or alterit( original contract is discharged

Select The BlankQuestionQuantity deli,ered o goods must )e according to the ________.

Correct AnswerTerms o contract

!our AnswerTerms o contract

"ultiple Choice Single AnswerQuestion>hich o the ollowing is not the e$ternal actor inluencing materials planning9Correct AnswerCorporate o)?ecti,e

!our AnswerCorporate o)?ecti,e

at 5*;8 A" comments+inks to this post

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+IST ATT3"2T3D Q3STI&4S A4D A4S>31S

True/#alse

QuestionIn i$ed%order inter,al system( order inter,al is i$ed.

Correct AnswerTrue

!our AnswerTrue

True/#alseQuestion2re%i$ed 'ty. issue system is suita)le or A%class items.Correct Answer



________ ind their use in identiication o raw materials( lu)ricants( pipelinesetc.Correct AnswerColour codes!our Answer

Colour codes

Select The BlankQuestionTwo%)in system supersedes ________.Correct Answer2erpetual in,entory!our Answer@aria)le in,entory


In #.&.1. contract seller is responsi)le or *%

Correct AnswerArranging or mo,ement o goods to the transporterEs godown ( Sae loading oninto the ,ehicle ( -eeping the material in deli,era)le state!our Answer2aying or the local transport ( Arranging or mo,ement o goods to thetransporterEs godown ( Sae loading on into the ,ehicle


&rganization decided to import when *%Correct Answer

Item is not a,aila)le in the country!our AnswerItem is not a,aila)le in the country


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"ultiple Choice Single AnswerQuestionThe purchasing made under contract ( usually ormal( o needed materials( thedeli,ery o which is re'uently spread o,er a period o time is known as *%Correct AnswerContract )uying

!our AnswerContract )uying


QuestionInternal lead time can )e reduced *%Correct AnswerBy selecti,ely delegating the powers ( By de,eloping local ,endor!our AnswerBy selecti,ely delegating the powers ( By de,eloping local ,endor ( By )etterpaper%work

True/#alseQuestion

Telephonic 'uotations are useul when there is limited competition.Correct Answer

True!our AnswerTrue


The point o transer o ownership rights rom seller to )uyer is *%Correct Answer

2lace o deli,ery!our Answer

Spare part and supply contracts

"ultiple Choice Single AnswerQuestion2rices o certain commodity may )e i$ed )y the go,ernment and there)y puttinga restriction on )oth )uyer and seller is *%Correct Answer0o,ernment restrictions

!our Answer0o,ernment restrictions

"atch The #ollowingQuestionCorrect Answer!our Answer1e,iew period&rder inter,alTwo%)in system

#&Q systemB%class items

B%class items1eduction in record%keeping

Two%)in system

&rder inter,al#i$ed%&rder Inter,al system


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#i$ed order inter,al#i$ed order inter,al

Select The BlankQuestionA,erage in,entory in any replenishment system is ________ to sum o minimum

ma$imum stock.Correct Answer

3'ual!our Answer

Steady

"ultiple Choice "ultiple AnswerQuestion#ollowing are distinguishing eatures o Air consignment *%Correct Answer4o system o prior entry ( = ree days are allowed rom light date!our Answer

4o system o prior entry ( = ree days are allowed rom light date ( All rules aresame or Air Sea consignment


QuestionTypical e$amples o direct materials are *%Correct AnswerCloth in the manuacture o garment ( >ood in the manuacture o urniture (#ruits in a canning industry!our Answer

Cloth in the manuacture o garment ( >ood in the manuacture o urniture (#ruits in a canning industry

True/#alse

QuestionCost o capacity which may )e rendered idle i the item currently )eingmanuactured in purchased needs to )e added to the cost to )uy.Correct AnswerTrue!our AnswerTrue


#ollowing special schemes are announced )y Indian 0o,ernment under whichimport can )e permitted at zero duty or at less duty *%Correct Answer3$port promotion capital goods scheme ( Diamond ewellary promotionscheme ( Import )y 5F e$port oriented units!our Answer3$port promotion capital goods scheme ( Diamond ewellary promotion scheme


0o,ernment departments and pu)lic sector undertakings in India ollow thismethod o )uying *%

Correct Answer

Tender )uying!our Answer


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Blanket orders

"atch The #ollowingQuestionCorrect Answer!our Answer

1ight placeDeli,ery as per contract

Deli,ery as per contractBuyers right

3$amine the goods3$amine the contractnpaid sellers right& lienAttack on )uyers propertyDeli,eryTranser o ownership rights rom seller to the )uyer& lien

Select The Blank

QuestionAcceptance sampling plans ha,e )een e,ol,ed ________.

Correct AnswerBased on pro)a)ility theory!our AnswerBased on pro)a)ility theory

True/#alse

Question2urchase cost is the price paid the supplier

Correct AnswerTrue

!our AnswerTrue

True/#alseQuestion3steem ,alue is paid )y the supplier.Correct Answer#alse

!our AnswerTrue

True/#alseQuestion@endors are not responsi)le or statutory appro,als rom go,ernment authorities.Correct Answer#alse!our AnswerTrue


QuestionAd,antages o i$ed price agreements are *%

Correct Answer

They are easy to administer ( They gi,e certainty to the )uyer who knows romthe start( amount he has to pay or the goods/ser,ices. ( They protect )uyer rom


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possi)le inancial risks rom price escalations!our AnswerThey are easy to administer ( They gi,e certainty to the )uyer who knows romthe start( amount he has to pay or the goods/ser,ices. ( They protect )uyer rompossi)le inancial risks rom price escalations


The threat on the part o supplier to hold supplies until a,oura)le price decisionsis *%

Correct AnswerA)ility to hold on price!our AnswerA)ility to hold on price

Select The BlankQuestion#inished parts are called as ________.

Correct AnswerBought%out parts

!our AnswerAu$illary parts

Select The BlankQuestionTendering in the a)sence o negotiations is also called ________.Correct Answer#irm )idding

!our AnswerSchedule )uying


QuestionSpecial stores are created where *%Correct Answer"aterial need to )e held under the control o the )ank ( "aterial need to )e heldor perisha)le items ( "aterial need to )e held or e$plosi,e inlamma)le items!our Answer"aterial need to )e held under the control o the )ank ( "aterial need to )e heldor perisha)le items ( "aterial need to )e held or costly items


Question>hat is the identiication location o stock in store9Correct Answer#ormulating updating a system o stores and coding to items which shouldensure eicient identiication location o goods.!our Answer#ormulating updating a system o stores and coding to items which shouldensure eicient identiication location o goods.


QuestionThe in,entories which reer to the maintenance( repair and operation supplies

which are consumed during process o manuacturing )ut do not )ecome part o

the product is *%Correct Answer


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"1& in,entories!our AnswerIn process in,entories

True/#alseQuestion

4oting clerk e$amines )ill o entry papers i ound in order signs the )ill oentry.

Correct AnswerTrue

!our AnswerTrue

"ultiple Choice Single AnswerQuestionThe organization set up )y #A& >G& to e,ol,e ood standards *%Correct AnswerCode$ Alimentarious commission

!our AnswerCode$ Alimentarious commission


QuestionSalient eatures o the working o the price panel are as under *%Correct Answersage ,alue a)o,e which the panel is to appro,e o the price is speciied. (@endor de,elopment department is re'uired to gi,e cost )reak up to thesecretary o the price panel ( "em)ers o the panel meet to scrutinize and discuss

the cost aspects.!our Answer

sage ,alue a)o,e which the panel is to appro,e o the price is speciied. (@endor de,elopment department is re'uired to gi,e cost )reak up to the

secretary o the price panel ( "em)ers o the panel meet to scrutinize and discussthe cost aspects.

"ultiple Choice Single AnswerQuestionThe method used or making purchases o proprietary items is *%Correct AnswerSingle tender

!our Answer&pen tender

Select The BlankQuestionAll incoming materials are insured against ________Correct AnswerDamage / loss!our Answer@alue o material


QuestionDisad,antages o orward )uying are *%

Correct Answer

Such a )uying may not ser,e entirely the needs o the production department (2rice e$pectations i not realised may result in ma?or inancial loss to the irm. (


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+arge scale o)solescence may result i design changes occur.!our AnswerSuch a )uying may not ser,e entirely the needs o the production department (2rice e$pectations i not realised may result in ma?or inancial loss to the irm. (In,entory holding charges are lower.

True/#alseQuestion

+ead time inormation is re'uired or determination o saety stock.Correct Answer


True/#alseQuestion#ire e$tinguishers should )e ,ery near to sta mem)ers.Correct Answer

#alse!our Answer

True

"ultiple Choice "ultiple AnswerQuestionIn 3$%works contract )uyer is responsi)le or *%Correct AnswerArranging or transport including loading on to the ,ehicle at supplierEs works (2aying or reight ( Arranging or transit insurance

!our Answer-eeping the material in deli,era)le state ( Arranging or transport including

loading on to the ,ehicle at supplierEs works

"ultiple Choice Single AnswerQuestionSales returns means *%Correct Answer1eceipt o goods rom Customer!our Answer1e?ection o goods


Cost o special tooling is called as ________.Correct AnswerCost to )uy!our AnswerCost to )uy


________ is ollowed in pu)lic sector organizations to identiy the lowest potential)idder.

Correct AnswerTender system

!our Answer

Tender system


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Select The BlankQuestionStock%out is nothing )ut ________.Correct AnswerStock get depleted )eore receipt!our Answer

4il stock


The orders( to the e$tent possi)le should )e a,oided is called as *%Correct Answer1ush!our Answer1ush


Deterioration o electrodes causes *%Correct Answer

Increase in arc insta)ility ( 3$cessi,e spatter!our Answer

Increase in arc insta)ility ( 3$cessi,e spatter ( Gigh smoke while using

"ultiple Choice "ultiple AnswerQuestion#ollowing agreement ha,e )een e$pressly declared ,oid as per the IndianContract Act 5678 *%

Correct AnswerAgreement in restraint o marriage ( Agreement )y way o wages ( Agreements to

do impossi)le acts!our Answer

Agreement in restraint o marriage ( Agreements in restraints o )usiness (Agreement )y way o wages

Select The BlankQuestionSystematic ________o stores is the key to its eicient operation.Correct Answer+ayout

!our Answer+ayout

at 5*= A" comments+inks to this post




Question2rimary duties to )e perormed )y purchase department are *%

Correct Answer1eceipts( sorting o purchase indents and determination o method o )uying (

2erormance e,aluation and eed)ack ( Search or suppliers!our Answer
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Search or suppliers ( 1eceipts( sorting o purchase indents and determination omethod o )uying ( 2erormance e,aluation and eed)ack

True/#alseQuestionIndentorEs copy is meant to ena)le indentor to ollow up with the purchase

department.Correct Answer

True!our Answer

True


________speciication are usually le$i)le and can )e altered during consultationwith dierent manuacturers o the e'uipment.Correct Answer3'uipment

!our Answer3'uipment


QuestionSecond )in 'uantity can )e 'ualiied )y *%Correct Answerm H + $ C!our Answerm H + $ C

True/#alse

QuestionContinuous stock%taking tends to dislocate the working o store.

Correct Answer#alse!our Answer#alse

"ultiple Choice Single AnswerQuestion1edundant Stock is nothing )ut *%

Correct Answer>orthless or con,ersion other use

!our Answer>orthless or con,ersion other use

"ultiple Choice Single AnswerQuestionThe cost incurred in pro,iding ade'uate insurance co,er to the materials in transitand in storage isCorrect Answer

Insurance cost!our Answer

Insurance cost

Select The Blank

QuestionSet%up cost or manuactured item in own plant is ________.


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Correct Answer@ery high!our Answer@ery high


QuestionThe )uying which is recei,ed in staggered lots( each lot at times may e'ual 3&Q

is *%Correct Answer

Contract )uying!our AnswerSchedule )uying

"ultiple Choice Single AnswerQuestion2rice o the commodity is conditioned )y the orces o supply and demand is *%Correct Answer

Demand and supply condition!our Answer

Demand and supply condition

"ultiple Choice Single AnswerQuestionThe su)mission o the inal oers )y the prospecti,e sources is *%Correct Answer#irm )idding!our Answer

#irm )idding


________ o the department reers to the placement o the department in thestructure o the company.Correct AnswerStatus!our AnswerSize

Select The Blank

Question2aper work cost is ________.

Correct Answer2rocurement cost!our Answer2rocurement cost

True/#alseQuestionThe trade discount is not allowed as a percentage o pu)lished price.

Correct Answer#alse

!our Answer#alse



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>hat are the dierent methods o identiying materials9Correct AnswerTagging ( +a)eling ( 3ngra,ing!our AnswerTagging ( +a)eling ( 3ngra,ing


2rices o certain commodity may )e i$ed )y the go,ernment and there)y puttinga restriction on )oth )uyer and seller is *%

Correct Answer0o,ernment restrictions!our Answer0o,ernment restrictions

True/#alseQuestion"ultiple sampling is an e$tension o the dou)le sampling plan.

Correct AnswerTrue

!our AnswerTrue

"atch The #ollowingQuestionCorrect Answer!our Answer+a)our management relations

In,estigating into suppliers capa)ilitiesIn,estigating into suppliers capa)ilities

Technical discussions )etween the representati,es o a )uyer and supplierTechno commercial discussion and trial order

Techno commercial discussion and trial order#ollow up with the supplier until sample su)missionSample ,alidationSample ,alidationType o supplier2reliminary selection o the suppliers2reliminary selection o the suppliers


1e,iew system%optional replenishment is a modiication o ________.Correct Answer#i$ed%order inter,al system!our Answer1e%order le,el system


Costs in,ol,ed in materials management areCorrect Answer

Basic cost o materials ( 0o,ernment ta$ and le,ies ( &rdering cost!our Answer

Basic cost o materials ( 0o,ernment ta$ and le,ies ( &rdering cost

True/#alse


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QuestionSaety stock orms a i$ed portion o in,entories.Correct AnswerTrue!our AnswerTrue

True/#alse

Question"aintenance and repair costs in used e'uipments are relati,ely higher.


"ultiple Choice "ultiple AnswerQuestion>hat are the areas o control to impro,e proit

Correct AnswerIncrease units sold ( Increase production ( 1educing capital

!our AnswerIncrease units sold ( Increase production ( 1educing capital

"ultiple Choice "ultiple AnswerQuestion"ain transport documents used )y trade are *%Correct Answer11 ( +1

!our Answer11 ( +1


QuestionQuantity )ased ad,ance license is )ased on standard o *%Correct AnswerInput%output norms i$ed )y A+C!our AnswerInput%output norms i$ed )y A+C

Select The Blank

Question&riginating department o daily material receipt report is ________.

Correct Answer1ecei,ing store!our Answer2urchase department

"ultiple Choice "ultiple AnswerQuestion>hat are the limitations o alpha )etical system9

Correct Answer1epetition o alpha)ets oten leads to conusion and wrong identiication ( The

selection o proper alpha)ets or each o the items is diicult. ( The codes cannot)e ampliied which restricts its use to smaller irms

!our Answer

1epetition o alpha)ets oten leads to conusion and wrong identiication ( Theselection o proper alpha)ets or each o the items is diicult. ( The codes cannot


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)e ampliied which restricts its use to smaller irms

True/#alseQuestionSmall parcels( Samples( gits which are recei,ed rom other countries pro,isionso import policy customs not applied on them.

Correct Answer#alse

!our Answer#alse

Select The BlankQuestion"alpractices are ________.Correct Answer"anipulations )y stores sta!our AnswerCommon in all stores

True/#alse

QuestionThe registered irms are re'uired to su)mit security deposit which is re'uired

rom unregistered irms.Correct Answer#alse!our Answer#alse


In instantaneous replenishment system *%Correct Answer

Item consumption demand rate is constant!our AnswerItem consumption demand rate is constant

"ultiple Choice "ultiple AnswerQuestionStore manager has to ensure security *%Correct Answer

& store )uildings ( & stock yards!our Answer

& store )uildings ( & stock yards ( & stores sta

"ultiple Choice Single AnswerQuestionThe process o procurement o raw material( wip( inished goods( ?igs( i$turesand other tools and e'uipments which are re'uired or the operation andmaintenance o a manuacturing plant is known asCorrect Answer

2urchasing!our Answer

2urchasing


Question1ecei,ing inspector should ha,e to *%


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Correct AnswerSegregate deecti,es ( "aintain ,endor wise 'uality records!our AnswerSegregate deecti,es ( "aintain ,endor wise 'uality records


QuestionIdentiying the need or source selection and source de,elopment is *%

Correct AnswerSource re'uirement stage

!our AnswerSource re'uirement stage

True/#alseQuestionSupplierEs deli,ery ratings should )e communicated on periodical )asis.Correct AnswerTrue

!our AnswerTrue

"atch The #ollowing

QuestionCorrect Answer!our Answer@endor rating1ight source1ight source

1eplenishment method1ight time

1ight timeCompetiti,e )idding

1ight price1ight price3&Q1ight 'uantity1ight 'uantity


3&Q means *%Correct Answer

>hen total cost right 'uantity are )alanced!our Answer>hen total cost right 'uantity are )alanced

"ultiple Choice Single AnswerQuestionThe cost incurred in mo,ement o materials rom suppliers works to )uyerEsworks is

Correct Answer#reight cost

!our Answer#reight cost



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@alue analysis speaks a)out *%Correct AnswerCost impro,ement ( Impro,ement in 'uality!our AnswerCost impro,ement ( Impro,ement in 'uality


Ad,antages o i$ed price agreements are *%Correct Answer

They are easy to administer ( They gi,e certainty to the )uyer who knows romthe start( amount he has to pay or the goods/ser,ices. ( They protect )uyer rompossi)le inancial risks rom price escalations!our AnswerThey are easy to administer ( They gi,e certainty to the )uyer who knows romthe start( amount he has to pay or the goods/ser,ices. ( They protect )uyer rompossi)le inancial risks rom price escalations


"ain inormation in the )ill o material is *%Correct Answer

2art no. ( "aterial speciication ( Quantity per assem)ly!our Answer2art no. ( "aterial speciication


________ is responsi)le or purchase o goods o right 'uality( 'uantity( time(price and source.

Correct Answer2urchase di,ision

!our Answer2urchase di,ision

"ultiple Choice Single AnswerQuestionThe system not only should identiy and classiy all the e$isting items and itshould ha,e enough e$tra unassigned codes to a)sor) uture items is called as *%Correct Answer

#le$i)ility!our Answer

#le$i)ility

"ultiple Choice Single AnswerQuestion2urchasing today is no longer ?ust a commercial acti,ity )ut it is a technocommercial acti,ity. This is known as *%Correct AnswerChanging nature o purchases

!our AnswerChanging nature o purchases

True/#alse

Question

Black listing may )e or a limited period or or an indeinite period.Correct Answer


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True!our AnswerTrue


Actions in,ol,ed in sample ,alidation are *%Correct Answer

#ollow up with the supplier until sample su)mission ( Sample inspection (#eed)ack on deects and deect pre,ention

!our AnswerSample inspection ( Sample re?ection



True/#alse

QuestionBulky items imper,ious to weather is kept at ,ery sae place inside store.Correct Answer#alse!our Answer#alse

Select The Blank

Question2etroleum product imports are channealised through________.

Correct AnswerIndian oil corporation

!our AnswerIndian oil corporation

"ultiple Choice Single AnswerQuestion2rocurement )y more than one irm )y pooling their re'uirements is *%Correct AnswerCooperati,e )uying

!our AnswerCooperati,e )uying

"ultiple Choice Single AnswerQuestion#or the inspection o special Cutting tools which department is responsi)le9Correct Answer2lanning department inspection department!our Answer"aintenance department

"atch The #ollowing


!our Answer@endor rating1ight source


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1ight source1eplenishment method1ight time1ight timeCompetiti,e )idding1ight price

1ight price3&Q

1ight 'uantity1ight 'uantity

"ultiple Choice Single AnswerQuestionThe cost incurred in pro,iding ade'uate insurance co,er to the materials in transitand in storage isCorrect AnswerInsurance cost!our Answer

Insurance cost


Import transactions are su)?ect to ollowing additional laws compared toprocurement rom sources within the country as *%Correct AnswerImport trade control act ulation ( Custom act ( Central e$cise 1ules 88!our AnswerImport trade control act ulation ( Custom act ( Trade policy act 8

True/#alse

Question2ro?ects are usually su)?ected to uncertainty oten delay takes place in

completion o pro?ects which results in cost o,er runs.Correct AnswerTrue!our AnswerTrue

True/#alseQuestion

Contract whose o)?ect is not lawul are not ,oid.Correct Answer

#alse!our Answer#alse

True/#alseQuestionShortage chasing is intended to remind the supplier o the due date and o)tainad,ance inormation o e$pected delays.

Correct Answer#alse

!our Answer#alse



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&ptimal purchase 'uantity comprises *%Correct AnswerAnnual in,entory carrying cost ( Annual procurement cost!our AnswerAnnual in,entory carrying cost ( Annual procurement cost ( Set%up cost


Steel almirahs are used or storage o *%Correct Answer

3$pensi,e items ( Scarce items!our Answer3$pensi,e items ( Scarce items ( Gigh risk materials

"ultiple Choice "ultiple AnswerQuestionSome o the )eneits i materials are supplied )y the )uyer are *%Correct Answer

The supplies o goods are guaranteed especially during the periods o shortages. (The re'uent re'uests or the price re,isions are a,oided ( The )uyer is sure o

the 'uality o materials.!our Answer

The )uyer is sure o the 'uality o materials. ( The re'uent re'uests or the pricere,isions are a,oided ( The unnecessary proit on materials are added )y thesuppliers.


The )uyers are asked to adopt the ollowing method or ollow up *%Correct Answer

Telephone ( +etters ( 3%mail( telegram!our Answer

Telephone ( +etters ( 3%mail( telegram

True/#alseQuestionStores is the Sae Custody or keeping materialsCorrect AnswerTrue!our Answer

True

"ultiple Choice Single AnswerQuestion2rices o certain commodity may )e i$ed )y the go,ernment and there)y puttinga restriction on )oth )uyer and seller is *%Correct Answer0o,ernment restrictions!our Answer0o,ernment restrictions


QuestionA contract terminates under ollowing condition *%

Correct Answer

Discharge )y perormance ( Discharge )y 1elease ( Discharge )y no,ation!our Answer


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Discharge )y perormance ( Discharge )y 1elease ( Discharge )y no,ation


________ is ollowed in pu)lic sector organizations to identiy the lowest potential)idder.

Correct AnswerTender system

!our AnswerTender system

True/#alseQuestionThe perormance o an e'uipment can not )e ,eriied on the spot i thee'uipment is not in operation.Correct Answer#alse!our Answer

True

"atch The #ollowingQuestion

Correct Answer!our AnswerSpeculati,e )uyingBulk purchasing4on perisha)le itemsCapital purchasing

2lant and machinery2lant and machinery

0roup purchasingGardware materials

Bulk purchasingSer,ice contractTypewritersGardware materials

True/#alseQuestion"etals should )e stored at least 5J%8 cm a)o,e the ground.

Correct AnswerTrue

!our AnswerTrue

"ultiple Choice "ultiple AnswerQuestionCosts in,ol,ed in materials management areCorrect AnswerBasic cost o materials ( 0o,ernment ta$ and le,ies ( &rdering cost

!our AnswerBasic cost o materials ( &rdering cost ( &,erhead

Select The Blank

Question

________ o the department reers to the placement o the department in thestructure o the company.


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Correct AnswerStatus!our Answer+ocation

True/#alse

Question@alue analysis is the cost reduction techni'ue.

Correct AnswerTrue

!our AnswerTrue

"ultiple Choice "ultiple AnswerQuestion#or large engineering irms main store could )e su) di,ided into *%Correct Answer#inished part store ( 1aw material store ( Semi inished item store

!our Answer1aw material store ( Semi inished item store ( #inished part store


QuestionIn pro?ect procurement what work is co,ered in detailed engineering stage9Correct AnswerCross ,eriication o technical speciications inalisation o commercial terms!our AnswerCross ,eriication o technical speciications inalisation o commercial terms

Select The Blank

QuestionSu) contracting decisions must )e )ased on outcome o ________ analysis.

Correct AnswerCost )eneit!our AnswerCost )eneit

"ultiple Choice "ultiple AnswerQuestionDisad,antages o orward )uying are *%

Correct AnswerSuch a )uying may not ser,e entirely the needs o the production department (

2rice e$pectations i not realised may result in ma?or inancial loss to the irm. (+arge scale o)solescence may result i design changes occur.!our Answer2rice e$pectations i not realised may result in ma?or inancial loss to the irm. (+arge scale o)solescence may result i design changes occur.


>ho act as a link )etween companyEs inancial department and supplierEs ortimely payment9

Correct Answer2urchase di,ision

!our Answer

2urchase di,ision


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"ultiple Choice Single AnswerQuestion>hat is the meaning o stores layout9Correct Answer2hysical arrangement o space or storage material mo,ement( oice etc whichshould pro,ide or most eicient receipt storage issue o material

!our Answer2hysical arrangement o space or storage material mo,ement( oice etc which

should pro,ide or most eicient receipt storage issue o material

True/#alseQuestionI item is manuactured in small 'uantities( set%up cost is high.Correct AnswerTrue!our AnswerTrue


________is suita)le or procurement rom non%proit making organization.Correct Answer

Cost plus zero ee!our Answer#i$ed price agreements with escalation.


________ reduce pro)lems o material planning.Correct Answer

1eduction in lead time!our Answer

1eduction in lead time

"ultiple Choice Single AnswerQuestionIT aims at *%Correct Answer1eduction in non%,alue added acti,ities!our Answer

1eduction in non%,alue added acti,ities

"ultiple Choice "ultiple AnswerQuestionComplaints concerning should )e made in such a way that negati,e reactions area,oided such as *%Correct AnswerDeli,ery ailures ( 1e?ection ( Shortages!our AnswerDeli,ery ailures ( 1e?ection ( Shortages


QuestionInternal actor inluencing materials planning*%

Correct Answer

2rocurement lead times!our Answer


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2rocurement lead times

"ultiple Choice Single AnswerQuestionThe cost incurred in mo,ement o materials rom suppliers works to )uyerEsworks is

Correct Answer#reight cost

!our Answer#reight cost

True/#alseQuestionSupplierEs deli,ery ratings should )e communicated on periodical )asis.Correct AnswerTrue!our AnswerTrue

Select The Blank

Question>hen the costs are )alanced( total cost is ________.

Correct Answer"inimum!our Answer#i$ed


QuestionThe process o procurement o raw material( wip( inished goods( ?igs( i$tures

and other tools and e'uipments which are re'uired or the operation andmaintenance o a manuacturing plant is known as

Correct Answer2urchasing!our AnswerStore keeping

"ultiple Choice Single AnswerQuestion"echanical tests are perormed to *%

Correct AnswerAscertain the strength o materials

!our AnswerAscertain the strength o materials

"ultiple Choice Single AnswerQuestionSet%up cost means *%Correct AnswerCost incurred to replenish the stock o item manuactured at home plant

!our AnswerCost incurred to replenish the stock o item manuactured at home plant


Question

The main responsi)ility o in,entory control di,ision is *%Correct Answer


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#i$ing in,entory le,els!our Answer#i$ing in,entory le,els


Special stores are created where *%Correct Answer

"aterial need to )e held under the control o the )ank ( "aterial need to )e heldor perisha)le items ( "aterial need to )e held or e$plosi,e inlamma)le items

!our Answer"aterial need to )e held under the control o the )ank ( "aterial need to )e heldor perisha)le items ( "aterial need to )e held or e$plosi,e inlamma)le items


________ is a undamental orm o economical ,alue.Correct Answer

3steem ,alue!our Answer

Cost ,alue

Select The BlankQuestionDiscrepancies arising out o thet are tends to ________.Correct Answer2roit +oss a/c!our Answer

2roit +oss a/c


>hat is 3arnest money9Correct Answer#i$ed amount collected along with Tender!our Answer#i$ed amount collected along with Tender

at 55*J 2" comments+inks to this post

+a)els* "aterials "anagement:Set%8


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"ultiple Choice "ultiple AnswerQuestion&)solescence cost is *%Correct AnswerDue stock on hand ( 2art 4o. / 4ame!our Answer

Due stock on hand ( 2art 4o. / 4ame


Set%up cost comprises o *%Correct Answer>ork%order cost ( Idle time cost!our Answer>ork%order cost ( Idle time cost


Quantity discounts reduces *%Correct Answer

2rocurement cost!our Answer

"aterial cost

"ultiple Choice Single AnswerQuestionThe document which is prepared )y the engineering department is *%Correct Answer

Bill o material!our Answer

Bill o material

"ultiple Choice Single AnswerQuestion>hich o the ollowing is not the e$ternal actor inluencing materials planning9Correct AnswerCorporate o)?ecti,e!our AnswerCorporate o)?ecti,e


Down time means ________.Correct AnswerTime re'uired )y e'uipment to )ecome &-!our AnswerTime re'uired )y e'uipment to )ecome &-


Security deposit means *%Correct Answer

Amount as reser,e%part kept )y scrap contractor or inal ad?ustment!our Answer

Amount paid )y contractor to company



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QuestionIdentiying technical( inancial( managerial and 'uality assurance capa)ility o the,endors and there)y generate data to ser,e )asis or preliminary source selectionis *%Correct AnswerSource in,estigation stage

!our AnswerSource in,estigation stage

Select The Blank

Question________speciication are usually le$i)le and can )e altered during consultationwith dierent manuacturers o the e'uipment.Correct Answer3'uipment!our AnswerTechnical


Issues to top up supply to pre%i$ed le,els o items are *%Correct Answer

Imprest issues!our AnswerImprest issues


1e'uests or price increase are recei,ed on account o the ollowing reasons *%Correct Answer

Increase in cost o raw materials and )oughtout parts ( Changes in ta$ structure (Added work content

!our AnswerIncrease in cost o raw materials and )oughtout parts ( Changes in ta$ structure (Added work content

Select The BlankQuestionStock held )y company represents ________.Correct Answer

"oney!our Answer

"oney

Select The BlankQuestion"ethod suita)le or items which are either o purely seasonal is ________.Correct AnswerSeasonal )uying!our Answer

Seasonal )uying


The )uying which is recei,ed in staggered lots( each lot at times may e'ual 3&Q

is *%Correct Answer


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Contract )uying!our AnswerSchedule )uying


Special ad,ance license or deemed e$port is granted in ollowing cases *%Correct Answer

Supply o goods against ad,ance license /1emission scheme ( Supply o goods toe$port oriented units ( Supply o capital goods to holders o licenses under 32C0

Scheme!our AnswerSupply o goods against ad,ance license /1emission scheme ( Supply o goods toe$port oriented units ( Supply o capital goods to holders o licenses under 32C0Scheme

True/#alseQuestion

SupplierEs re'uest or price increase should )e analysed patiently )y the )uyer. Acurt EnoE or Enegati,eE reply spoils relationships.

Correct AnswerTrue

!our AnswerTrue

"ultiple Choice "ultiple AnswerQuestionActions in,ol,ed in sample ,alidation are *%

Correct Answer#ollow up with the supplier until sample su)mission ( Sample inspection (

#eed)ack on deects and deect pre,ention!our Answer

Sample inspection ( #eed)ack on deects and deect pre,ention

"ultiple Choice "ultiple AnswerQuestionSpecial stores are created where *%Correct Answer"aterial need to )e held under the control o the )ank ( "aterial need to )e heldor perisha)le items ( "aterial need to )e held or e$plosi,e inlamma)le items

!our Answer"aterial need to )e held or e$plosi,e inlamma)le items ( "aterial need to )e

held or costly items


________ is suita)le or procurement o prototypes( i$tures( de,elopment items.Correct AnswerCost plus percentage o cost.!our Answer

#i$ed price agreements


In instantaneous replenishment system( production rate is ________ .

Correct AnswerIninite


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!our AnswerConstant

"ultiple Choice Single AnswerQuestion&rganization decided to import when *%

Correct AnswerItem is not a,aila)le in the country

!our AnswerItem is ,ery critical unctioning

"ultiple Choice Single AnswerQuestion&perating systems process data or *%Correct Answer1outine operations o the depts.!our Answer1outine operations o the depts.

Select The Blank

QuestionIn "12%5( manuacturing cycle o inished product is ________.

Correct Answer+ong!our AnswerShort

"atch The #ollowing


!our AnswerIT

Gighly ,ulnera)le to supply ailures2urchasing timeT2"1emo,al o uncertaintyGighly ,ulnera)le to supply ailuresQuality at source3limination o incoming inspection3limination o incoming inspection

+ower unit costIT

Quantity o production

True/#alseQuestion"aterials department is ser,ice department.Correct AnswerTrue!our Answer

#alse


"alpractices are ________.

Correct Answer"anipulations )y stores sta


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!our Answer"anipulations )y stores sta

True/#alseQuestion@alue analysis is necessary when companyEs proits soars.

Correct Answer#alse

!our Answer#alse

"atch The #ollowingQuestionCorrect Answer!our Answer#ast mo,ing items@ery near to the issue counter@ery near to the issue counter

Anti)ioticsIn a air conditioned store

In a air conditioned storeCostly items like uel in?ector

In locked cup)oard away rom entrance o store.In locked cup)oard away rom entrance o store.Inlamma)le hazardous itemsIn a separate storeIn a separate store


Discolourisation o soaps is due to *%Correct Answer

3$posure to light ( "oisture!our Answer3$posure to light ( "oisture

"ultiple Choice "ultiple AnswerQuestion#ollowing are )eneits o scientiic stoke management *%Correct Answer

1eduction in downtime )y eicient issues ( In,entory control ( @ery less timere'uired to identiy issue material

!our Answer1eduction in downtime )y eicient issues ( @ery less time re'uired to identiy issue material

"ultiple Choice "ultiple AnswerQuestion#ollowing special schemes are announced )y Indian 0o,ernment under whichimport can )e permitted at zero duty or at less duty *%

Correct Answer3$port promotion capital goods scheme ( Diamond ewellary promotion

scheme ( Import )y 5F e$port oriented units!our Answer

3$port promotion capital goods scheme ( Import )y 5F e$port oriented units

True/#alse


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Question2ost parcel consignments are cleared through customs clearance is donethrough oreign post oice.Correct AnswerTrue!our Answer

#alse

True/#alseQuestion

4um)er o ree days allowed or air consignments is 5J days rom the light date.Correct Answer#alse!our Answer#alse

True/#alseQuestion

The trade discount is not allowed as a percentage o pu)lished price.Correct Answer

#alse!our Answer

#alse

"ultiple Choice "ultiple AnswerQuestion1ecei,ing inspector should ha,e to *%Correct Answer

Segregate deecti,es ( "aintain ,endor wise 'uality records!our Answer

Segregate deecti,es ( "aintain ,endor wise 'uality records

"ultiple Choice Single AnswerQuestionSupplier may )e asked to pro,ide assistance or the irst ew days o working sothat production losses can )e a,oided is known as *%Correct AnswerSpare part and supply contracts!our AnswerSellerEs technical assistance during start up.

Select The Blank

QuestionAll incoming materials are insured against ________Correct AnswerDamage / loss!our AnswerDamage / loss

True/#alse

Question"ake or )uy decision are o common concern to )oth materials and production

department.Correct Answer

True

!our AnswerTrue


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"ultiple Choice Single AnswerQuestionInlamma)le storage areas should )e *%Correct Answer>ell insulated

!our Answer>ell insulated


QuestionThe su) system o numerical system in,ol,es ollowing *%Correct AnswerSe'uential code ( Decimal code ( Block code system!our AnswerSe'uential code ( Decimal code ( Block code system


QuestionStock%out is due to *%

Correct AnswerDelay in deli,eries

!our AnswerDelay in deli,eries


________is reim)ursement o actual costs plus i$ed ee.

Correct AnswerCost plus i$ed ee

!our AnswerCost plus i$ed ee


________ is essence o purchase order.Correct AnswerDeli,ery!our AnswerDeli,ery


Question2erormance o product re'uires *%Correct Answer#unctionality ( 1elia)ility!our Answer#unctionality ( 1elia)ility

True/#alse

Question3$%works means sale is made on rail/truck at the station o dispatch.

Correct Answer#alse

!our Answer

#alse


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True/#alseQuestionThe trade discount is not allowed as a percentage o pu)lished price.Correct Answer#alse!our Answer

#alse

at 55*;K 2" comments+inks to this post

+a)els* "aterials "anagement:Set%8


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"ultiple Choice "ultiple AnswerQuestionIn a contract )uyer has right to *%Correct Answer3$amine the goods ( 1e?ect the goods deli,ered in wrong 'uantity ( 1e?ect nonconorming goods

!our Answer3$amine the goods ( 1e?ect the goods deli,ered in wrong 'uantity ( Sue or

interest o )uyer


________ o the department reers to the placement o the department in thestructure o the company.Correct AnswerStatus!our Answer+ocation

True/#alse

Question2urchasing policies are implemented )y raming procedures and rules.


True/#alse

QuestionBlack )ituminous paint should )e applied to ru))er parts.

Correct Answer#alse

!our Answer#alse

"ultiple Choice Single AnswerQuestion2ending purchases indent report *%Correct AnswerGighlights indents yet to )e con,erted in to purchase%orders

!our AnswerGighlights indents yet to )e con,erted in to purchase%orders

"ultiple Choice "ultiple AnswerQuestionCorrect issues must ha,e *%Correct Answer>ritten re'uisitions ( Authorized re'uisitions!our Answer>ritten re'uisitions ( Authorized re'uisitions ( 4ame o re'uisitor


QuestionThe ollowing are the actions would help to impro,e eecti,eness o materials

planning *%

Correct AnswerAccurate orecasting ( Computerization ( Shorter materials plan period


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!our AnswerAccurate orecasting ( Computerization ( Increase in lead time

Select The BlankQuestionSystematic( ormal and continuous analysis o all actors aect ________

management unction is known as "aterials research.Correct Answer

"aterials!our Answer

"aterials

True/#alseQuestion&3" discount is gi,en )y the supplier with a ,iew to widen customerEs )ase.Correct AnswerTrue!our Answer

#alse


A )uyer gi,es wrong idea to his supplier a)out his re'uirements or show aictitious igure to get some price discount is called as *%Correct Answer"isrepresentation o acts!our Answer"isrepresentation o acts


Question2urchasing and procurement cost reduction is possi)le through *%

Correct AnswerBlanket orders ( 0reen purchasing ( System contracting!our AnswerBlanket orders ( 0reen purchasing ( System contracting


________ department in almost all companies is the )iggest spending

department and the custodian o companyEs purse.Correct Answer

2urchasing!our Answer2urchasing


________ ind their use in identiication o raw materials( lu)ricants( pipelinesetc.

Correct AnswerColour codes

!our AnswerColour codes



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________ is a comple$ com)ination o men( machines( materials and tools.Correct Answer"anuacturing!our Answer&peration


>hat is the meaning o storekeeping9Correct Answer

2hysical storage o goods under custodianship in a systematic manner!our Answer2hysical storage o goods under custodianship in a systematic manner

True/#alseQuestion@alue analysis is the cost reduction techni'ue.Correct Answer

True!our Answer

True

"ultiple Choice Single AnswerQuestionCompetiti,e price inormation must )e treated as conidential and should not )edisclosed to the )idders with an intention o allowing them to re)id is *%Correct AnswerImproprieties o )ids

!our AnswerImproprieties o )ids

"atch The #ollowing

QuestionCorrect Answer!our Answer3ournal 3ntriesournal 3ntries2&2urchase order

2urchase order014

0oods receipt note0oods receipt noteD4Discrepancy note.Discrepancy note.


Traic di,ision is concerned with *%Correct Answer

Arrangement o eco. Transportation o incoming and outgoing materials!our Answer

Arrangement o eco. Transportation o incoming and outgoing materials



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QuestionIssue o stock is *%Correct Answer2rocess o reacting )y stores!our Answer2rocess o reacting )y stores

True/#alse

QuestionCancellation o orders on limsy ground is unethical.


Select The BlankQuestionSystematic ________o stores is the key to its eicient operation.

Correct Answer+ayout

!our Answer+ayout

"ultiple Choice Single AnswerQuestion#oreign trade is controlled )y 0o,ernment or *%Correct Answer2romoting e$port controlling import

!our Answer2romoting e$port controlling import


QuestionIn re,iew system%optional replenishment *%Correct Answer1eorder le,el is i$ed ( 1e,iew period is i$ed!our Answer1e,iew period is i$ed ( 1eorder le,el is i$ed


QuestionThe recei,ing stores copy is used )y it *%

Correct AnswerTo ensure that supplier eects supply o only items ordered on him. ( To ensurethat supplier does not supply more than the 'uantity stipulated in the purchaseorder. ( To ensure that the supplier eect deli,eries through the mode otransport asked or )y the )uyer.!our AnswerTo ensure that supplier does not supply more than the 'uantity stipulated in thepurchase order.

True/#alse

QuestionA company wishing to use preerred num)ers must decide irst the smallest size

to )e made( then largest size to )e made and then the total no. o sizes to )e

made.Correct Answer


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True!our Answer#alse


#inished goods means *%Correct Answer

0oods which are ready to ship!our Answer

0oods which are ready to ship

True/#alseQuestionIT purchasing is indirectly the acti,ity o pushing in,entory on the suppliers.Correct AnswerTrue!our Answer

True


Quantity discounts are oered when *%Correct AnswerBuyer tempts to produce large 'uantity ( 2roduction is higher cost is less!our AnswerBuyer tempts to produce large 'uantity ( 2roduction is higher cost is less


Ad,antages o i$ed price agreements are *%Correct Answer

They are easy to administer ( They gi,e certainty to the )uyer who knows romthe start( amount he has to pay or the goods/ser,ices. ( They protect )uyer rompossi)le inancial risks rom price escalations!our AnswerThey are easy to administer ( They gi,e certainty to the )uyer who knows romthe start( amount he has to pay or the goods/ser,ices. ( They protect )uyer rompossi)le inancial risks rom price escalations


&riginating department o daily material receipt report is ________.Correct Answer1ecei,ing store!our Answer1ecei,ing store


________ is the arrangement o items into groups according to a pre determinedpattern.

Correct AnswerClassiication

!our Answer

Classiication


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"ultiple Choice "ultiple AnswerQuestion"ain inormation in the )ill o material is *%Correct Answer2art no. ( "aterial speciication ( Quantity per assem)ly!our Answer

2art no. ( "aterial speciication ( Quantity per assem)ly

"atch The #ollowingQuestion

Correct Answer!our Answer+C+a)our cost as considered at the time o contract+a)our cost as considered at the time o contract"AActual material cost as on date.Actual material cost as on date.

"C"aterial cost as considered at the time o contract

"aterial cost as considered at the time o contract+A

Actual la)our cost as on dateActual la)our cost as on date

"ultiple Choice Single AnswerQuestionGeat is *%

Correct AnswerAn physical agent

!our AnswerAn physical agent

"ultiple Choice Single AnswerQuestionA ormal re'uest to the purchase department( )y the indentor to procure theitems mentioned therein and within the indicated time schedule is *%Correct Answer2urchase indent!our Answer

2urchase indent

True/#alseQuestionCoal and coke gas used or power generation and process heating are directmaterials.Correct Answer#alse!our AnswerTrue

Select The Blank

QuestionIn a contract o sale )y description the goods sold must )e o ________ 'uality.

Correct Answer

"erchanta)le!our Answer


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"erchanta)le

True/#alseQuestionAnnual total cost remain constant though stock%turn o,er rate changes.Correct Answer

#alse!our Answer

#alse

"ultiple Choice "ultiple AnswerQuestion&)solescence cost is *%Correct AnswerDue stock on hand ( 2art 4o. / 4ame!our AnswerDue stock on hand ( Cause o the e,ent ( 4um)er o turns

True/#alseQuestion

Single tender system is used when there is only one supplier o the item.Correct Answer

True!our AnswerTrue


In traditional purchasing( 'uality is conirmed ________.Correct Answer

&n receipt!our Answer

&n receipt

Material Management - 10

Opening for Freshers in ARIC!" #$R#AO!

C%IC& 'R FOR MOR ("AI%)

Select The Blank

Question Conormance to ________ is checked against component

drawings.

Correct Answer Dimensions

!our Answer Dimensions
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Question The in,entories which reer to the maintenance( repair andoperation supplies which are consumed during process o manuacturing )ut donot )ecome part o the product is *%

Correct Answer "1& in,entories

!our Answer "1& in,entories

True/#alse

Question Import su)stitution in reality should )e looked upon as Importa,oidance

Correct Answer True

!our Answer True

True/#alse

Question Deterioration &)solescence cost are similar.

Correct Answer #alse

!our Answer True

Select The Blank

Question Customs duty is charged on the imported goods as per ________.

Correct Answer Customs tari rules

!our Answer Customs tari rules


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Question In a contract )uyer has right to *%

Correct Answer 3$amine the goods ( 1e?ect the goods deli,ered in wrong'uantity ( 1e?ect non conorming goods

!our Answer 3$amine the goods ( 1e?ect the goods deli,ered in wrong'uantity ( Sue or interest o )uyer

Select The Blank

Question ________ o the department reers to the placement o the

department in the structure o the company.

Correct Answer Status

!our Answer +ocation

True/#alse

Question 2urchasing policies are implemented )y raming procedures andrules.

Correct Answer True

!our Answer True

True/#alse

Question Black )ituminous paint should )e applied to ru))er parts.


!our Answer #alse



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Question 2ending purchases indent report *%

Correct Answer Gighlights indents yet to )e con,erted in to purchase%orders

!our Answer Gighlights indents yet to )e con,erted in to purchase%orders


Question Correct issues must ha,e *%

Correct Answer >ritten re'uisitions ( Authorized re'uisitions

!our Answer >ritten re'uisitions ( Authorized re'uisitions ( 4ame ore'uisitor


Question The ollowing are the actions would help to impro,e eecti,enesso materials planning *%

Correct Answer Accurate orecasting ( Computerization ( Shorter materialsplan period

!our Answer Accurate orecasting ( Computerization ( Increase in lead time

Select The Blank

Question Systematic( ormal and continuous analysis o all actors aect________ management unction is known as "aterials research.

Correct Answer "aterials

!our Answer "aterials

True/#alse


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Question &3" discount is gi,en )y the supplier with a ,iew to widencustomerEs )ase.

Correct Answer True

!our Answer #alse


Question A )uyer gi,es wrong idea to his supplier a)out his re'uirementsor show a ictitious igure to get some price discount is called as *%

Correct Answer "isrepresentation o acts

!our Answer "isrepresentation o acts


Question 2urchasing and procurement cost reduction is possi)le through *%

Correct Answer Blanket orders ( 0reen purchasing ( System contracting

!our Answer Blanket orders ( 0reen purchasing ( System contracting

Select The Blank

Question ________ department in almost all companies is the )iggestspending department and the custodian o companyEs purse.

Correct Answer 2urchasing

!our Answer 2urchasing

Select The Blank

Question ________ ind their use in identiication o raw materials(lu)ricants( pipelines etc.


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Correct Answer Colour codes

!our Answer Colour codes

Select The Blank

Question ________ is a comple$ com)ination o men( machines( materialsand tools.

Correct Answer "anuacturing

!our Answer &peration


Question >hat is the meaning o storekeeping9

Correct Answer 2hysical storage o goods under custodianship in a

systematic manner

!our Answer 2hysical storage o goods under custodianship in a systematicmanner

True/#alse

Question @alue analysis is the cost reduction techni'ue.

Correct Answer True

!our Answer True


Question Competiti,e price inormation must )e treated as conidential andshould not )e disclosed to the )idders with an intention o allowing them to re)id

is *%


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Correct Answer Improprieties o )ids

!our Answer Improprieties o )ids

"atch The #ollowing

Question Correct Answer !our Answer

3 ournal 3ntries ournal 3ntries

2& 2urchase order 2urchase order

014 0oods receipt note 0oods receipt note

D4 Discrepancy note. Discrepancy note.


Question Traic di,ision is concerned with *%

Correct Answer Arrangement o eco. Transportation o incoming andoutgoing materials

!our Answer Arrangement o eco. Transportation o incoming and outgoingmaterials


Question Issue o stock is *%

Correct Answer 2rocess o reacting )y stores


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!our Answer 2rocess o reacting )y stores

True/#alse

Question Cancellation o orders on limsy ground is unethical.

Correct Answer True

!our Answer True

Select The Blank

Question Systematic ________o stores is the key to its eicient operation.

Correct Answer +ayout

!our Answer +ayout


Question #oreign trade is controlled )y 0o,ernment or *%

Correct Answer 2romoting e$port controlling import

!our Answer 2romoting e$port controlling import


Question In re,iew system%optional replenishment *%

Correct Answer 1eorder le,el is i$ed ( 1e,iew period is i$ed

!our Answer 1e,iew period is i$ed ( 1eorder le,el is i$ed


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Question The recei,ing stores copy is used )y it *%

Correct Answer To ensure that supplier eects supply o only items orderedon him. ( To ensure that supplier does not supply more than the 'uantitystipulated in the purchase order. ( To ensure that the supplier eect deli,eriesthrough the mode o transport asked or )y the )uyer.

!our Answer To ensure that supplier does not supply more than the 'uantitystipulated in the purchase order.

True/#alse

Question A company wishing to use preerred num)ers must decide irst

the smallest size to )e made( then largest size to )e made and then the total no.o sizes to )e made.

Correct Answer True

!our Answer #alse


Question #inished goods means *%

Correct Answer 0oods which are ready to ship

!our Answer 0oods which are ready to ship

True/#alse

Question IT purchasing is indirectly the acti,ity o pushing in,entory on

the suppliers.

Correct Answer True

!our Answer True


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Question Quantity discounts are oered when *%

Correct Answer Buyer tempts to produce large 'uantity ( 2roduction is

higher cost is less

!our Answer Buyer tempts to produce large 'uantity ( 2roduction is higher

cost is less


Question Ad,antages o i$ed price agreements are *%

Correct Answer They are easy to administer ( They gi,e certainty to the)uyer who knows rom the start( amount he has to pay or the goods/ser,ices. (They protect )uyer rom possi)le inancial risks rom price escalations

!our Answer They are easy to administer ( They gi,e certainty to the )uyerwho knows rom the start( amount he has to pay or the goods/ser,ices. ( They

protect )uyer rom possi)le inancial risks rom price escalations

Select The Blank

Question &riginating department o daily material receipt report is________.

Correct Answer 1ecei,ing store

!our Answer 1ecei,ing store

Select The Blank

Question ________ is the arrangement o items into groups according to a

pre determined pattern.

Correct Answer Classiication

!our Answer Classiication


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Question "ain inormation in the )ill o material is *%

Correct Answer 2art no. ( "aterial speciication ( Quantity per assem)ly

!our Answer 2art no. ( "aterial speciication ( Quantity per assem)ly

"atch The #ollowing

Question Correct Answer !our Answer

+C +a)our cost as considered at the time o contract +a)our cost asconsidered at the time o contract

"A Actual material cost as on date. Actual material cost as on date.

"C "aterial cost as considered at the time o contract "aterial cost asconsidered at the time o contract

+A Actual la)our cost as on date Actual la)our cost as on date


Question Geat is *%

Correct Answer An physical agent

!our Answer An physical agent


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Question A ormal re'uest to the purchase department( )y the indentor toprocure the items mentioned therein and within the indicated time schedule is *%

Correct Answer 2urchase indent

!our Answer 2urchase indent

True/#alse

Question Coal and coke gas used or power generation and process heatingare direct materials.


!our Answer True

Select The Blank

Question In a contract o sale )y description the goods sold must )e o________ 'uality.

Correct Answer "erchanta)le

!our Answer "erchanta)le

True/#alse

Question Annual total cost remain constant though stock%turn o,er ratechanges.


!our Answer #alse


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Question &)solescence cost is *%

Correct Answer Due stock on hand ( 2art 4o. / 4ame

!our Answer Due stock on hand ( Cause o the e,ent ( 4um)er o turns

True/#alse

Question Single tender system is used when there is only one supplier othe item.

Correct Answer True

!our Answer True

Select The Blank

Question In traditional purchasing( 'uality is conirmed ________.

Correct Answer &n receipt

!our Answer &n receipt

at 5*=L A" comments+inks to this post

+a)els* "aterials "anagement:Set%=


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Saturday, May 2, 2009

Materials Management - *

R+O& O,!I!#) I! )A%)C%IC& 'R


"ultiple Choice Single AnswerQuestionThe )asic materials which ha,e not undergone any con,ersion since their receiptsrom suppliers is *%Correct Answer

1aw material!our Answer

1aw material

"ultiple Choice Single AnswerQuestionGeat is *%Correct AnswerAn physical agent!our AnswerAn physical agent


QuestionIn,entory control system means *%Correct AnswerTo achie,e )asic purpose o in,entory creation!our AnswerTo achie,e )asic purpose o in,entory creation


Salient characteristics o kodak system are *%Correct Answer

"aterials are di,ided into ew )road classiications ( 3ach preliminary class is

urther di,ided into su) classes ( 3ach su) class is ne$t ampliied into kind oitems!our Answer"aterials are di,ided into ew )road classiications ( 3ach preliminary class isurther di,ided into su) classes ( 3ach su) class is ne$t ampliied into kind oitems

True/#alseQuestion

Turno,er discount is usually related to the annual )usiness and is paid in the ormo credit note at the end o the year.

Correct Answer

True!our Answer
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True

True/#alseQuestion"anual inspection is economical when ,olume o output is small.Correct Answer

True!our Answer

True

Materials management 01

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