Setting Reorder Level in Inventory Management

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What is the purpose of setting a Reorder level in Inventory Management?

To monitor the expiration dates of perishable goods
To track the inventory levels of a stock item
To automate the ordering process from the supplier
To ensure sufficient stock is available for customers (correct)

What is the difference between Simple and Advance modes in Reorder level settings?

Simple mode is for normal stock, Advance mode is for high-priority stock
Simple mode has daily time units, Advance mode has monthly time units (correct)
Simple mode is for non-perishable items, Advance mode is for perishable items
Simple mode is for low-value items, Advance mode is for high-value items

How do you display the Reorder Status in the system?

GOT > Display > Statement of Inventory > Reorder Status > Select Stock item (correct)
GOT > Inventory > Batch wise details > Reorder Status
GOT > Inventory > Reorder level > Display Reorder Status
GOT > Inventory info > Reorder level > Select stock item

What is the purpose of batch wise details in Inventory Management?

To track the movements of inventory in batches (A) Signup and view all the answers

What is the significance of manufacturing date and expiry date in batch wise details?

To monitor the expiration dates of perishable goods (C) Signup and view all the answers

What is the correct order of dates in batch wise details?

Manufacturing date < Voucher date < Expiry date (B) Signup and view all the answers

What is the purpose of a Cost Center in an organization?

To allocate costs or expenses (C) Signup and view all the answers

What type of account is 'Project sales' classified under?

Sales Account (B) Signup and view all the answers

What is the correct sequence to create a stock item?

GOT > Inventory info > Stock item > Create (D) Signup and view all the answers

What is the purpose of setting 'Cost center applicable' to 'Yes' in a ledger?

To allocate costs or expenses (C) Signup and view all the answers

What is the correct classification of 'Universal cement' under?

Sundry Creditors (B) Signup and view all the answers

What is the correct sequence to create a Cost Center?

Press F11 and go to Accounting features and set yes to “Maintain Cost center” (B) Signup and view all the answers

What is the type of adjustment used to set payment against expiry of a new reference?

Against Reference (C) Signup and view all the answers

What is the purpose of creating a price list in inventory management?

To maintain different prices for different types of customers (A) Signup and view all the answers

What is the shortcut to display physical stock in inventory management?

Alt + F10 (D) Signup and view all the answers

What is the purpose of creating a supplier in accounting?

To create a ledger for the supplier (D) Signup and view all the answers

What is the purpose of setting 'Batches wise details' to yes in inventory management?

To track batch-wise details of stock items (A) Signup and view all the answers

What is the type of adjustment used to make a payment or receipt in advance to making sales?

Advance (D) Signup and view all the answers