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Types of Inventory in Manufacturing

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Questions and Answers

What is the main reason why poor planning and control of materials can increase total project costs?

It causes delays and productivity losses (correct)

It leads to higher quality final products

It reduces the need for re-handling materials

It improves the identification of materials

According to Ballot (2006), how are materials defined?

As waste materials generated during production

As elements that make up the final product (correct)

As by-products of manufacturing processes

As final products ready for sale

How does Bailey et al. (2009) define materials?

As financial resources allocated for raw material purchase

As goods purchased from outside sources for production (correct)

As services provided by the organization

As intangible assets used in project management

Why is effective materials management considered crucial for the success of a project?

To reduce costs and contribute significantly to project success Signup and view all the answers

What does Stukhart (2007) include in the definition of materials?

Raw materials, parts, supplies, and equipment items Signup and view all the answers

According to Dobler and Burt (2009), what do raw materials include?

Materials converted into processed parts Signup and view all the answers

In what way do raw materials differ from finished products according to Ballot (2006)?

Raw materials are processed before sale Signup and view all the answers

Why might re-handling materials lead to overall delays in a project?

To lengthen the time required for completion Signup and view all the answers

What is the primary function of purchasing and procurement?

Acquiring materials at the lowest cost possible Signup and view all the answers

What does expediting involve in the context of materials management?

Monitoring suppliers to ensure timely deliveries Signup and view all the answers

What is the purpose of materials planning?

To procure materials for the dates when they are needed Signup and view all the answers

What is the primary function of materials handling?

Managing the flow of materials in the organization Signup and view all the answers

What is a key role of a manager in cost control related to material management?

Keeping costs associated with handling materials to a minimum Signup and view all the answers

What does inventory management in material management primarily deal with?

Managing the availability of materials Signup and view all the answers

What aspect does transportation primarily focus on in material management?

Transporting materials to where they are needed safely and economically. Signup and view all the answers

What do decisions taken at each phase in the material management process directly affect?

The activities of the phases that follow. Signup and view all the answers

What is the main purpose of expediting in material management?

To monitor suppliers and ensure timely deliveries. Signup and view all the answers