BUS 402 BUS402 Quiz 9 Answers

BUS 402 BUS402 Quiz 9 Answers

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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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