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3rd Semester MBA (2017-18)

Class Test- I
Sub: Inventory Management (IM) (MNG-304 E)
Time: 1.30 Hrs Full Marks-30
(Q.1 & Q.2 are compulsory and answer any one from the rest)
1- Define the following terms and fill in the gaps bellow. [1*10= 10]
a. What is MRP?
b. What is safety stock?
c. Fixed cost in inventory holding cost.
d. Purchase requisition slip.
a. What is EOQ?
b. Time gap between placing an order and receiving the order is called ----------------.
c. JIT concept was started in for the first time.
d. FIFO stands for----------------------------.
e. To minimize the purchase cost the organization should go for ...
f. The inventory holding cost includes --------------, ---------------- and --------------------.

2- From the following information [10]

3- Following data are available from the cost records of the X Ltd. [10]

4- Explain the various steps of the vendor selection procedure. [10]

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