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Inventory Management(Pscm 331) Question Paper

Inventory Management(Pscm 331)

Course:Accounting, Finance& Investments

Institution: Kenya Methodist University question papers

Exam Year:2013

TIME: 2 HOURS
Instructions:
Answer question one and any two other questions.
Question One
One of the retail organizations selling firms wants to introduce the use of electronic systems in inventory management. Being one of the officers in the procurement department, management wants you to write a report highlighting the following.
Applications of information communication Technology in inventory management.
(5mks)
The various costs accrued by the organization due to inventory management.
(5mks)
Discuss the following terms and their importance.
(20mks)
Stock proliferation
Kanban
Consignment costing
ABC analysis
Variety reduction

Question Two
Discuss the requirement of a materials requirements planning (MRP) system, highlighting its advantages and limitations. (20mks)

Question Three
Describe the provisions detailed in the helath and safety at work act 1974.
(10mks)
Discuss the advnatanges of having a good coding systems.
(10mks)

Question Four
Describe the various costs associated with reverse logistics.
(10mks)
Discuss the bullwhip effects, clearly showing the effects it has on the organizations performance.
(10mks)

Question Five
Distinguish between the following
Private warehouse
Public warehouses
Bonded warehouses.
(6mks)
Define the term customer service
(2mks)
Discuss the main elements of customers service.
(12mks)

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