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Pscm 331:Inventory Management Question Paper

Pscm 331:Inventory Management

Course:Business Administration

Institution: Kenya Methodist University question papers

Exam Year:2012

INVENTORY MANAGEMENT (PSCM 331) 2ND TRIMESTER 2012

KENYA METHODIST UNIVERSITY

END OF 2ND TRIMESTER 2012 (DAY) EXAMINATIONS
SCHOOL : BUSINESS AND ECONOMICS
DEPARTMENT : ACCOUNTING & FINANCE
UNIT CODE : PSCM 331
UNIT TITLE : INVENTORY MANAGEMENT

TIME: 2 HOURS

Instructions: Answer Question ONE and any other TWO Questions.

Question One

Apple company is a retail store operating in various parts of the country in Kenya. Initially, manual systems were used in their operations including receiving of incoming commodities and location of inventory in the stores and warehouses.

The company is considering automating its operations and outsourcing storage because of the increase in the business operations. The current warehouse cannot sustain their operations. Recently, one customer found expired inventory on the shelves of the company leading to a law suit for the company.

Required:

Discuss the actions that the management of apple company should take in order to avoid having expired inventory on their shelves.

(10 Marks)

Evaluate the advantages that Apple Company will get after automating their operations.

(10 Marks)

Discuss customer service activities which can add value to the company’s offering.

(10 Marks)

Question Two

Inventory has been considered a : "necessary evil". Discuss.

(10 Marks)

Discuss the materials requirement planning technique of controlling inventory. Highlight its advantages and disadvantages.

(10 Marks)

Question Three

Define the following concepts as used in inventory management.

Bar Coding.

Electronic Dater interchange. (EDI)

(8 Marks)

Bar Coding has revolutionized inventory management. Discuss.

(12 Marks)

Question Four

Briefly outline procedures for efficient issuing of inventory in the warehouse.

(10 Marks)

Outline FIVE health and safety measures that a storekeeper needs to consider in order to create a conducive inventory management environment.

(10 Marks)

Question Five

Stock taking and stock checking is an integral part of inventory management. Justify.

(10 Marks)

Explain the factors that inventory managers consider when selecting materials handling equipment.

(10 Marks)

Pscm 331:Inventory Management Question Paper

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