Which of the following items can be classed as inventory? Select THREE
Answer(s): A,B,E
Comprehensive and Detailed Explanation From Exact Extract:Inventory in logistics and supply chain management refers to goods held for sale or for use in producing goods for sale, at any stage of completion. This includes raw materials/components, work- in-progress (WIP), and finished goods. Physical assets such as warehouses or vehicles are not inventory; they are resources/capacity assets.
CIPS L5M10 Study Guide, Section on "The role of logistics and inventory," p. 3
Which of the following statements about Sales and Operations Planning (S&OP) are TRUE? Select TWO
Answer(s): A,C
Comprehensive and Detailed Explanation From Exact Extract:S&OP aligns aggregate demand and supply by planning future resource levels, typically on a rolling monthly cycle. It is explicitly cross-functional, involving operations/logistics, marketing/sales, finance, and HR to reconcile a single plan.While finance input is important, S&OP is not merely a financial plan, and external factors--including competitor actions--are considered in demand assumptions.
CIPS L5M10 Study Guide, S&OP overview, p. 112
Various business functions complete different controlling activities.Which control activity would be completed by the Distribution function?
Answer(s): D
Comprehensive and Detailed Explanation From Exact Extract:Distribution control focuses on transport execution and delivery performance--monitoring, expediting, and controlling outbound deliveries. Purchasing contract analysis belongs to supply/procurement control; quality control to production/quality; and warehouse budgets to warehousing control.
CIPS L5M10 Study Guide, "Controlling activities by function," p.109
Which of the following is a commonly used indicator for measuring capacity and manufacturing productivity and is usually expressed as the percentage of time a machine is truly productive?
Answer(s): B
Comprehensive and Detailed Explanation From Exact Extract:Overall Equipment Effectiveness (OEE) combines availability, performance, and quality to indicate how much of scheduled time a resource is genuinely productive. Downtime is a component that reduces OEE; "actual output" is an absolute measure, not an effectiveness percentage.
CIPS L5M10 Study Guide, OEE definition, p. 109
Strategic planning is long-term planning, usually over 510 years in the future. Is this sentence correct?
Answer(s): A
Comprehensive and Detailed Explanation From Exact Extract:Strategy deals with long-term direction and typically contains broad objectives with lower detail; tactical (mid-term) and operational (short-term) plans add specificity and detail. Therefore, longer- horizon strategic plans contain less operational detail than short-term plans.
CIPS L5M10 Study Guide, Planning horizons--strategic/tactical/operational, pp. 99100
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