Question 1:
Illustrate out the term “Materials management”. Describe its significance. List the challenges of materials management in today’s competitive business.
Question 2:
What do you mean by the term “logistics”? What are the merits of the logistics management?
Question 3:
What do you understand by the selective control of inventories? Write down the dissimilar techniques employed for selective control of the inventory items?
Question 4:
Illustrate the following terms in relation to MRP method
a) Independent or dependent demand.
b) Level by level explosion.
c) Gross requirements and net requirements.
Question 5:
Under what situation should the firm practice the following techniques of buying.
a) Forward buying.
b) Hand to mouth buying.
c) Scheduled purchasing.
d) Contract buying.
Question 6:
What do you understand by location of stores? Illustrate the basic factors which should be taken in account to find out the best location for stores?