What does EOQ stand for in inventory management?

• A) Essential Order Quantity
• B) Economic Order Quantity
• C) Efficient Order Quantity
• D) Economic Organization Quantity

In employment stability, we have the following options except __________.

• A) Hold employment constant by maintaining the trained workforce
• B) Hold employment constant and labor is treated as a fixed cost
• C) All the options given
• D) Follow demand exactly

Which of the following inventory management strategies helps to reduce inventory levels and minimize inventory costs?

• A) Just-in-time (JIT)
• B) ABC Analysis
• C) LIFO
• D) FIFO

As per the Hawthorn studies, which of the following statements best describes about worker productivity?

• A) It increases when worker receive attention and feel valued.
• B) It is solely determined by physical working conditions.
• C) It is unaffected by social factors.
• D) It is higher in isolated work environments.

In which of the following method, the time standard for a job can be set in a laboratory away from the actual production operation.

• A) None of the options given
• B) Historical experience
• C) Time studies
• D) Predetermined time standards

While using time studies methods in labor standards and work measurement, we use ____________ and ______________ to calculate the standard time of a job.

• A) None of the options given
• B) Total Normal time and Allowance factor
• C) Allowance factor and TMU
• D) Total Normal time and TMU

Which one of the following is not a popular sequencing rule?

• A) Slow turnout
• B) First come, first served
• C) Shortest processing time
• D) Critical ratio

Which of the following is the alternate name of non-instantaneous resupply?

• A) None of the given options
• B) Demand supply quantity
• C) Production order quantity
• D) Supplier order quantity

In ABC analysis, which category of items typically represents the low annual dollar volume?

• A) C items
• B) B items
• C) A items
• D) D items

In which of the following models, the beginning inventory is equal to order quantity?

• A) Quantity discount
• B) EOQ
• C) Safety stock
• D) EFQM

Which of the following refers to the reorder point (ROP)?

• A) The point at which inventory must be reordered to avoid stockouts
• B) The optimal order quantity
• C) The maximum level of inventory
• D) The average inventory level

Which of the following is true regarding labor standards and work measurement?

• A) MTM table is used in calculating job time with historical experience.
• B) MTM table is used in calculating the time of micro moments in a job element.
• C) Allowance factor is used in predetermined time standards
• D) In time studies, we use MTM table and allowance factor

Which one of the following options involves the establishment of employees’ roles and responsibilities?

• A) Job analysis
• B) Job evaluation
• C) Job rotation
• D) Job design

Which one of the following statements is the primary objective of job design?

• A) To increase the number of employees in the organization.
• B) To create jobs that enhance employee satisfaction and performance.
• C) To eliminate all job responsibilities.
• D) To reduce the amount of training required for new hires.

Which of the following is not included in capacity options in the context of aggregate planning strategies?

• A) Develop a product mix of counter-seasonal items.
• B) The trade-off between capacity, inventory, backlog/lost sales.
• C) Increase in inventory during low-demand periods to meet high demand in future.
• D) Varying workforce size by hiring or layoff as per the need.

Which of the following is not included in the demand options in the context of aggregate planning strategies?

• A) Develop a product mix of counter-seasonal items
• B) Influencing demand through advertising and promotion campaigns
• C) Increase in inventory during low-demand periods to meet high demand in future
• D) Back ordering during high-demand periods

What happens to a scheduled receipt when the goods are received into inventory?

• A) It is transferred to the vendor’s records.
• B) It is converted into a new planned order.
• C) It becomes part of the on-hand inventory and is closed out.
• D) It remains open until the end of the production cycle.

Which of the following is not true regarding aggregate planning?

• A) Aggregate planning is the balance between demand and supply.
• B) If the aggregate plan is followed entirely, it will help meet the firm's strategic objectives.
• C) Aggregate planning and forecast are the same thing.
• D) Aggregate planning is the planned production for which manufacturing management is to be held responsible.

Which of the following costs is most critical in aggregate planning in the service sector?

• A) All the given options
• B) Cost of labor
• C) Cost of transportation
• D) Cost of raw material

In which aggregate planning strategy, the firm is dependent on the external source?

• A) Subcontracting
• B) Use of inventory as a lever
• C) Use of part-time workers to meet the demand
• D) Use of hiring and firing of workers to meet the demand