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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: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)

Pscm 331:Inventory Management Question Paper

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