BUS 402 QUIZ 9
BUS 402 Quiz 9
1.
The
implementation of TQM can not succeed unless:
2.
A key element to
Deming's 14 Points is:
3.
The basic
reorder point model assumes that:
4.
The heart of TQM
is:
5.
The consequences
for the small business owner of a vendor certification program include:
6.
The small
business owner needs to know ________ in order to avoid stockouts and calculate
safety stock.
7.
"F.O.B.
buyer" means that:
8.
The small
business gains what advantage by selling on consignment?
9.
________ is one
of the elements of the total inventory costs.
10. TQM
11.
The
responsibility for verifying the identity and condition of merchandise:
12.
The first rule
governing transfer of title and risk of loss states that:
13.
"F.O.B.
seller" means that:
14.
Small business
people need to remember that:
15. Total Quality
Management (TQM):
16.
A firm's
________ expresses the number of times per year the business sells all of its
inventory.
17.
"Just-In-Time"
inventory control techniques are most successful in what type of environment?
18.
JIT systems need
two significant human elements to be successful: mutual trust and teamwork,
and:
19.
The ________
shoplifter is often a regular customer, well-respected individual, etc.
20.
A number of
organizational factors encourage employee theft including:
21.
The most common
method of liquidating slow-moving merchandise is:
22.
Effective
management of inventory begins with:
23.
Which of the
following is a part of the "Just-In-Time" inventory control
philosophy?
24.
Employers can
reduce employee theft through:
25.
The purpose of
ABC inventory analysis is:
26.
One way to
reduce employee theft is:
27.
A ________
inventory control system is best suited for controlling merchandise classified
as "B" items.
28.
A physical
inventory count should be taken at least:
29.
The ________
inventory control system relies on the validity of the 80/20 rule.
30.
The inventory
turnover ratio is computed by:
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