Economic Order Quantity is the quantity at which the cost of carrying is
The inventory carrying cost includes
In infinite replenishment model if the lead time increases from 20 to 30 days, the EOQ will
Lead time doesn’t affect EOQ
Consider the following inventory costs
1. cost of inspection
2. scrap cost
3. insurance cost
4. cost of negotiation with suppliers
Which of these costs are related to carrying cost?
Which of the following cost elements are considered while determining the Economic Lot Size for purchase in basic EOQ model?
1. Inventory carrying cost
2. Procurement cost
3. Set up cost
Select the correct answer using the codes given below Codes:
Which of the following statement is correct regarding EOQ?
In basic EOQ model, EOQ is dependent on which of the following?
1. ordering cost
2. unit cost
3. lead time
In fixed order quantity system i.e., Q-system, orders are placed whenever
The number of orders for a period is calculated using which of the following formula
At EOQ the total variable cost doesn’t depend on which of the following
Formula of EOQ for a basic EOQ model doesn’t contain
Which one of the following is an inventory system that keeps a running record of the amount in storage and replenishes the stock when it drops to a certain level by ordering a fixed quantity?
ABC analysis is done to
Inventory classification based on criticality of usage is done in which of the following techniques
Which of the following selective inventory control technique is based on unit price of the items
In ABC analysis, A items require
Classifying items in A, B and C categories for selective control in inventory management is done by arranging items in the decreasing order of
In the ABC method of inventory control, Group A constitutes costly items. What is the usual percentage of such items of the total items?
In the EOQ model, if the unit ordering cost is doubled, the EOQ
The annual demand for a commodity is 100 units. The ordering cost per order is Rs. 800 and carrying cost is Rs. 0.16 per unit per year. Find the optimal ordering quantity.
EOQ = 1000 units