CIPS M4L7 (Whole Life Assessment Management) LO1 STUDY QUESTIONS AND ANSWERS RATED A

CIPS M4L7 (Whole Life Assessment
Management) LO1 STUDY QUESTIONS AND
ANSWERS RATED A.
What is a bottleneck?
Correct Answer -a restriction inside a warehouse, store or stockyard that
holds up or slows down activity. this may be caused by poor layout,
access difficulties or simply the volume of picking or storage being
handled
what is flexible warehousing?
Correct Answer -used to describe any technique which allows the shortterm ability to increase or decrease storage space
what is consignment stocking?
Correct Answer -a facility offered by a supplier to a buyer to allow a
delivery of stock to the buyer with payment only after it is used or sold to
a customer
what are the systems for product coding?
Correct Answer -- own product code system
- manufacturers code system
- customer product code system
- industry standard code system
- multiple codes
what is a stock keeping unit (SKU)?
Correct Answer -an identifiable item from stock. organisations may assign