Pscm 331:Inventory Management Question Paper
Pscm 331:Inventory Management
Course:Business Administration
Institution: Kenya Methodist University question papers
Exam Year:2013
INVENTORY MANGEMENT (PSCM 331) 2ND TRIMESTER 2013
KENYA METHODIST UNIVERSITY
END OF 2ND TRIMESTER 2013 (DAY) EXAMINATIONS
SCHOOL : BUSINESS AND ECONOMICS
DEPARTMENT : ACCCOUNTING, FINANCE AND INVESTMENTS
UNIT CODE : PSCM 331
UNIT TITLE : INVENTORY MANAGEMENT
TIME: 2 HOURS
Instructions:
Answer question one and any other two questions.
Question One
As a procurement manager in a textile manufacturing company the CEO has directed you to liase with the marketing manager and develop a customer service policy to be used by the company. Discuss the approach you would use to develop one.
(14mks)
Define the term standardization and discuss the different levels in which standards can be set.
(12mks)
Describe the main functions of a warehouse.
(4mks)
Question Two
Define the following terms
Just –in –Time
Material requirements planning
Manufacturing resource planning
Distribution requirement planning
Question Three
The role of strategic and distribution has advanced rapidly particularly in the bring Kenyan supermarkets effective supplier management linked to use of lated technology has enabled an effective storage and distribution network. Discuss. (20mks)
Question Four
Define the term inventory management.
(2mks)
Describe reasons why organization hold inventory.
(6mks)
Describe reasons why stock proliferation occurs.
(4mks)
Question Five
Redundancy of stock is a major aspect of inventory management.
What are some of the causes of redundant stock.
(5mks)
What measures should a manager take to avoid redundant stock?
(5mks)
Discuss various methods of handling customer returns and reverse logistics.
(10mks)
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