Examination
Paper
IIBM Institute of Business Management
Examination Paper MM.100
Inventory
Management
Section A: Objective Type (30 marks)
• This section consists of Multiple Choice questions &
Short Answer type questions.
• Answer all the questions.
• Part One questions carries 1
mark each
& Part Two questions carries 5
marks each.
Part One:
Multiple Choices:
1. …………………….
is
IT tool used for automation
data capture.
2. Stockout Level is also called
the a. Red Zone
b. Amber Zone
c. Both (a) & (b)
d. None of the above
3. When classified
on the basis of time period, they are a. Supply forecast
b. Price forecast
c. Demand forecast d.
None of the above
4. The Delphi Method was developed by the Rand
Corporation in the
a. 1980
b. 1970
c. 1950
d. None of the above
5. The BOM file is also
called the
a. Product Structure File
b. Product Tree
c. Both (a) & (b)
d. None of the above
6. What is the meaning of “Doller Days”.
a. Making money with in area
b. Management of the value of inventory and time with in area
c. Inventory control
d. Management of time
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IIBM Institute of Business Management
Examination
Paper
7. Weeks of supply = ……………………………………………..
8. Fastest and Expensive mode of Transport. a. Air
b. Rail
c. Water
d. Pipeline
9. ERP systems were developed
in
|
a.
|
1998
|
|
b.
|
1990
|
|
c.
|
1980
|
|
d.
|
1987
|
10. The ABC analysis is also called the ………………………………
Part Two:
1. What is “Dependent Demand”?
2. Write short note on “Simulation Models”.
3. What is “Time Phasing”.
4. Write short note on “Statistical Techniques of Forecasting”.
END OF SECTION A
Section B: Caselets (40 marks)
• This section consists of Caselets.
• Answer all the questions.
• Each caselet carries 20
marks.
• Detailed information
should form the part of your answer (Word limit 200
to 250 words).
Caselet 1
M/s Jyoti Textiles, with
four spinning mills, eighteen
cloth
cutting centres, sixteen
processing departments and
more than 200 machine centres has installed
an
information
system.
The operations are characterised by a nationwide distribution network. The finished goods moves
through 38 branch offices and 312 authorised distributors all of whom maintain some inventory.
Authorized distributors generate 37% of the orders but account for only 24% of the sales. Most of the business is done through
the
branch offices.
The product line is large; products are classified into 175 family groups, representing 12000
finished
goods. Approximately 1,500 new items enter the product line annually, and a similar
number are discounted.
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IIBM Institute of Business Management
Examination
Paper
The 12,000 finished goods require 25,000
component parts
of
which 6,600 are
carried
in inventory and 18,400
are made to order. The newly implemented information system already has
paid
off substantially and refinements continue to increase benefits. In the preceding year, M/s Jyoti Textiles achieved a 60% customer service level (i.e. 60% of the orders were delivered according to original customer request, with no delays or adjustment of dates). Clerical expenses were 36% of the
sales.
The company felt this was not good enough and wanted to improve the customer service. The
company therefore is thinking of a highly integrated
system.
1. Keeping in
mind
the objectives,
do
you think
the company
should
go in
for a highly integrated system? Support your answer with
reasons.
2. Discuss the relevant inventory management strategies for the company.
Caselet 2
Advanced Management University is a large private university teaching a slew of courses and
boasting of a distinguished faculty. The university believed in Quality Education at any cost.
Recently, Ms Julie
Joy took over as Head of Purchasing and was informed that she would be
responsible for the entire procurement activity in the university,
including its storing,
inspection
etc.
On
the first day, she began a tour of the campus. She found a sweeper putting used x-rays printed
stationery, bits of metal and banana peels into a huge dustbin. She was perplexed and wanted to
find out what happens to the garbage thereafter. She was informed that such garbage bags were kept
in one place and then taken away by the municipality trucks whenever they came.
It did not take Ms Julie Joy
to
realize that there was no
salvage program in the university. But she
also
realized that being new, it would be tricky for her to introduce new practices, given that the
faculty were highly egoistic, though learned. She also had to show clear financial benefits to be
accrued from a program of garbage recycling/salvage, for approval of any new process by the
management.
1. What arguments are there in favour of a formal salvage program at Advanced Management
University?
2. What arguments would be expected against the program?
3. What organisational structure should Julie Joy install?
4. Develop a salvage program for Advanced Management University.
END OF SECTION B
Section C: Applied Theory
(30
marks)
• This section consists of Long Questions.
• Answer all the questions.
• Each question carries 15 marks.
• Detailed information
should
form the part of your answer (Word limit 150 to
200 words).
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IIBM Institute of Business Management
Examination
Paper
1. At Ford Motor company, every
car
or truck model has
its own internal website to
track design, production, quality control and delivery processes. Suppliers and customers also have access
to
the site, and all concerned are expected to provide full supply chain information. How do
you think this would affect the life of the middle manager?
2. Give example of some typical case where inventory management based on
unscientific method could go
wrong.
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