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The following statement/s about inventory management is/are correct: I. Managing inventory include, among others, physical stock counts on a cyclical basis II. Up to date record-keeping on stock cards improved the ability to make good and timely decisions about stock ordering. III. The goal of inventory control is to have the highest possible volume of stock at facilities.

The following statement/s about inventory management is/are correct: I. Managing inventory include, among others, physical stock counts on a cyclical basis II. Up to date record-keeping on stock cards improved the ability to make good and timely decisions about stock ordering. III. The goal of inventory control is to have the highest possible volume of stock at facilities.

Practical Management Science
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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13% Z 18:49 estions +Answers 2020.docx 4 The following statement/s about inventory management is/are correct: I. Managing inventory include, among others, physical stock counts on a cyclical basis. II. Up to date record-keeping on stock cards improved the ability to make good and timely decisions about stock ordering. III. The goal of inventory control is to have the highest possible volume of stock at facilities. A. I, Il and II B. I and II C. Il only D. None of the above. E. I and II In South Africa's public sector, the national medicine procurement and medicine selection functions are: I. Co-ordinated by the same committee II. Undertaken annually II. Supported by legislative framework A. III only B. I, Il and III C. I and III D. Il and III E. Il only 6 Which of the following inventory control models are associated with the highest inventory holding costs and require the highest stock levels: A. Scheduled purchasing (monthly intervals) B. Annual purchasing C. Perpetual purchasing D. Scheduled purchasing (3-month intervals) E. Scheduled purchasing (6-month intervals) 7 A public sector community health centre does not have a computerized inventory control system and relies on bin cards. The following transactions should be reflected on the stock record for Atenolol 50mg tablets, 30s: I. Monthly orders placed for Atenolol 50 mg tablets (30s) and Atenolol 100mg tablets (28s) II. Expired Atenolol 50 mg tablets (30s) written off. II. Adjustments to Atenolol 50mg tablets, tablets (30s) stock balances based on + quarterly stock counts. A. Il and III 2/8
Transcribed Image Text:13% Z 18:49 estions +Answers 2020.docx 4 The following statement/s about inventory management is/are correct: I. Managing inventory include, among others, physical stock counts on a cyclical basis. II. Up to date record-keeping on stock cards improved the ability to make good and timely decisions about stock ordering. III. The goal of inventory control is to have the highest possible volume of stock at facilities. A. I, Il and II B. I and II C. Il only D. None of the above. E. I and II In South Africa's public sector, the national medicine procurement and medicine selection functions are: I. Co-ordinated by the same committee II. Undertaken annually II. Supported by legislative framework A. III only B. I, Il and III C. I and III D. Il and III E. Il only 6 Which of the following inventory control models are associated with the highest inventory holding costs and require the highest stock levels: A. Scheduled purchasing (monthly intervals) B. Annual purchasing C. Perpetual purchasing D. Scheduled purchasing (3-month intervals) E. Scheduled purchasing (6-month intervals) 7 A public sector community health centre does not have a computerized inventory control system and relies on bin cards. The following transactions should be reflected on the stock record for Atenolol 50mg tablets, 30s: I. Monthly orders placed for Atenolol 50 mg tablets (30s) and Atenolol 100mg tablets (28s) II. Expired Atenolol 50 mg tablets (30s) written off. II. Adjustments to Atenolol 50mg tablets, tablets (30s) stock balances based on + quarterly stock counts. A. Il and III 2/8
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