In inventory control, the economic order quantity is the
Optimum lot size
Highest level of inventory
Lot corresponding to breakeven point
Capability of a plant to produce
Correct Answer :
A. Optimum lot size
Related Questions
In Lincoln plan (one type of group incentive plan), the amount of the profit which an employee receives in addition to the guaranteed basic pay/wages, is based on:
A standard rating system
A merit rating system
A job evaluation system
His individual performance
In manufacturing management, the term 'Dispatching' is used to describe
Dispatch of sales order
Dispatch of factory mail
Dispatch of finished product of the user
Dispatch of work orders through shop floor
A CPM family includes
CPA (Critical Path Analysis)
CPP (Critical Path Plotted)
CPS (Critical Path Scheduling)
All of the above
Which of the following are the guidelines for the construction of a network diagram?
Each activity is represented by one and only one arrow in the network
Dangling must be avoided in a network diagram
Dummy activity consumes no time or resource
All of the above
The wastage of material in the store is taken into account by the following method in the evaluation of the material issued from the store
Inflated system
Primary cost method
Current value method
Fixed price method
Time study is carried out
By finding all the significant informations regarding the job, work place and machine tool etc.
By breaking up each operation into small elements which are measurable with the help of the measuring device accurately
By observing and recording the time taken by the operator for an operation
All of the above
Queuing theory is associated with
Sales
Inspection time
Waiting time
Production time
A big advantage of PERT over Gantt charts is that in the former case
Activities and events are clearly shown
Early start and late finish of an activity are clearly marked
Activity times are clear
Interrelationship among activities is clearly shown.
In product layout
Specialised and strict supervision is required
Machines can not be used to their maximum capacity
Manufacturing cost rises with a fall in the volume of production
All of the above
Pick up the correct statement. Dummy activity on a PERT/CPM chart means, it
Consumes time, but no resources
Consumes resources but no time
Consumes neither time nor resources
Is a dangling event
The technique of value analysis can be applied to
Complicated items only
Simple items only
Crash programmer items only
Any item
Critical Path Net Work helps an engineer
To concentrate his attention on critical activities
To divert the resources from noncritical advanced activities to critical activities
To be cautious for avoiding any delay in the critical activities to avoid delay of the whole project
All of the above
Inventory management consists of
Effective running of stores
State of merchandise methods of storing and maintenance etc.
Stock control system
All of the above
The main objective of work measurement is to
Plan and schedule of production
Formulate a proper incentive scheme
Estimate the selling prices and delivery dates
All of the above
Which of the following organisations is best suited for steel plants
Functional organisation
Line organisation
Staff organisation
Line, staff and functional organisations
Father of industrial engineering is
Jack Gilbert
Gantt
Taylor
Newton
Linear programming can be applied successfully to
Chemical industry
Oil industry
Banks
All of these
Job enrichment technique is applied to
Reduce labour monotony
Overcome boring and de-motivating work
Make people happy
All of the above
Travel charts provide
An idea of the flow of materials at various stages
A compact estimate of the handling which must be done between various work sections
The information for changes required in rearranging material handling equipment
An approximate estimate of the handling which must be done at a particular station
A diagram showing the path followed by men and materials while performing a task is known as
String diagram
Flow process chart
Travel chart
Flow diagram
The production cost per unit can be reduced by
Producing more with increased inputs
Producing more with the same inputs
Eliminating idle time
Minimising resource waste
The amount deducted from the salary of workers towards employees provident fund is
Credited into reserves of company
Deposited in nationalised bank
Deposited in post office
Deposited in the account of worker with Provident Fund Commissioner
In the cost structure of a product, the selling price is determined by the factors such as
Sales turn over
Lowest competitive price
Various elements of the cost
All of the above
In jobbing production
Highly skilled workers are needed
Unit costs are high
Operations are labour-intensive
All of these
A milestone chart
Shows the inter dependences of various jobs
Depicts the delay of jobs, if any
Points outgoing ahead of schedule of jobs, if any
None of the above
The critical activity has
Maximum float
Minimum float
Zero float
Average float
PERT requires
Single time estimate
Double time estimate
Triple time estimate
None of these
In ABC control policy, maximum attention is given to
Those items which consume money
Those items which are not readily available
Those × items which are in more demand
Those items which consume more money
An optimum project schedule implies
Optimum utilization of men, machines and materials
Lowest possible cost and shortest possible time for project
Timely execution of project
To produce best results under given constraints
The purpose of micro-motion study is to
Assist in finding out the most efficient way of doing work
Train the individual operator regarding the motion economy principles
Help in collecting the motion time data for synthetic time standards
All of the above