Question 1

A firm hires a new staff member in its warehousing department. As a FIRST step in the training of this employee, the warehouse manager should

Options :

A : verify that the employee knows how to operate the warehouse equipment and tools correctly

B :

demonstrate how to package products in the correct manner, so that the employee can begin with packaging assignments

C :

explain the company-s safety policy and verify that the employee understands all safety-related requirements

D :

show the employee how to separate disposable vs recyclable packaging, to ensure the employee understands environmental compliance requirements

Answer: C

Question 2

A supply manager for JKL, Inc. is negotiating a contract with a supplier of a component. The component will be used in a new product JKL Is manufacturing and plans to bring to market early next year. Which of the following will be the MOST important provision for the supply manager to negotiate for?

Options :

A : A fixed cost of raw materials that will remain stable over the following year

B : A low minimum order quantity that allows flexibility to buy additional materials

C : A sustainable packaging solution with recyclable transport crating

D : Ownership of the molds and dies used to manufacture the component

Answer: B

Question 3

A manufacturing firm's facility operates a level production strategy. The initial demand plan is as follows:

MonthJanFebMarAprMayJunJulAug

Unit Sales12,00026,00026,00021,00020,00020,00015,00020,000

Production20,00020,00020,00020,00020,00020,00020,00020,000

The supply management department learns that one of its retailers is planning a promotional event on August

1st that it expects will require an additional 19,000 units. There are 5,000 units in stock for the beginning of

January, and maximum inventory holding is 15,000 units.

How many units per month should production increase in order to meet the requirements of its retailer and

minimize overall inventory levels?

Options :

A : 2,000

B : 2,500

C : 14,000

D : 2,715

Answer: A

Question 4

An organization purchases material from several countries. These materials are assembled into products and sold in several other countries. This firm's product specifications will MOST likely reference

Options :

A : International standards

B : Incoterms® 2010 rules

C : North American Free Trade Act

D : exchange rates

Answer: A

Question 5

Which of the following describes a market structure where there are few sellers and many buyers and where price is controlled by either an industry leader or a cartel?

Options :

A : Monopsony

B : Perfect competition

C : Monopoly

D : Oligopoly

Answer: D