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3rd Semester MBA (2017-18) Class Test-I Sub: Inventory Management (IM) (MNG-304 E)

The document contains a class test for an Inventory Management class. It includes 10 multiple choice definitions to fill in blanks for inventory related terms like MRP, safety stock, EOQ, and FIFO. It also includes 2 long form questions - one involving calculations based on inventory information provided, and another explaining the various steps of the vendor selection procedure.

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Sangram Panda
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48 views

3rd Semester MBA (2017-18) Class Test-I Sub: Inventory Management (IM) (MNG-304 E)

The document contains a class test for an Inventory Management class. It includes 10 multiple choice definitions to fill in blanks for inventory related terms like MRP, safety stock, EOQ, and FIFO. It also includes 2 long form questions - one involving calculations based on inventory information provided, and another explaining the various steps of the vendor selection procedure.

Uploaded by

Sangram Panda
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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3rd Semester MBA (2017-18)

Class Test- I
Sub: Inventory Management (IM) (MNG-304 E)
Time: 1.30 Hrs Full Marks-30
(Q.1 & Q.2 are compulsory and answer any one from the rest)
1- Define the following terms and fill in the gaps bellow. [1*10= 10]
a. What is MRP?
b. What is safety stock?
c. Fixed cost in inventory holding cost.
d. Purchase requisition slip.
a. What is EOQ?
b. Time gap between placing an order and receiving the order is called ----------------.
c. JIT concept was started in for the first time.
d. FIFO stands for----------------------------.
e. To minimize the purchase cost the organization should go for ...
f. The inventory holding cost includes --------------, ---------------- and --------------------.

2- From the following information [10]

3- Following data are available from the cost records of the X Ltd. [10]

4- Explain the various steps of the vendor selection procedure. [10]

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