Question 12 out of 2 points________ is one of the elements of the total inventory costs.Question 22 out of 2 points”F.O.B. seller” means that:Question 32 out of 2 pointsThe primary objective of the purchasing function is to:Question 42 out of 2 pointsWhich of the following represents the cost of the units in the basic EOQ model?Question 52 out of 2 pointsWhen shopping for a vendor, a small business owner should seek:Question 62 out of 2 pointsThe reorder point model requires that the small business owner know:Question 72 out of 2 pointsMany small businesses build a(n) ________, or cushion, into their inventories in case demand runs ahead of the anticipated usage rate.Question 82 out of 2 pointsHolding or carrying costs include the costs of:Question 92 out of 2 pointsThe heart of TQM is:Question 102 out of 2 pointsA key element to Deming’s 14 Points is:Question 112 out of 2 pointsResearch on the implementation of TQM programs shows that it takes ________ to completely implement a TQM program.Question 122 out of 2 pointsThe small business gains what advantage by selling on consignment?Question 132 out of 2 points”F.O.B. buyer” means that:Question 140 out of 2 pointsSmall business people need to remember that:Question 152 out of 2 pointsThe implementation of TQM cannot succeed unless:Question 162 out of 2 points________ system enables business owners to track their inventories and to place orders with vendors quickly and with few errors by linking them to their vendors electronically.Question 172 out of 2 pointsEmployers can reduce employee theft through:Question 182 out of 2 pointsStore owners and employees may apprehend and charge a shoplifter:Question 192 out of 2 points”Just-In-Time” inventory control techniques are most successful in what type of environment?Question 202 out of 2 pointsA form of inventory management used in manufacturing that stresses a harmonious relationship with suppliers is:Question 212 out of 2 pointsThe two-bin system and the tag system of inventory control are best suited for items classified as ________ in ABC analysis.Question 222 out of 2 pointsThe ________ shoplifter is often a regular customer, well-respected individual, etc.Question 232 out of 2 pointsMost employee theft:Question 242 out of 2 pointsThe purpose of ABC inventory analysis is:Question 252 out of 2 pointsQuestion 262 out of 2 pointsWhich of the following is a part of the “Just-In-Time” inventory control philosophy?Question 272 out of 2 pointsEffective management of inventory begins with:Question 282 out of 2 pointsIn ABC analysis, the dollar usage value of an item is determined by:Question 292 out of 2 pointsA retail version of Just-In-Time inventory control is called:Question 302 out of 2 points________ inventory systems are designed to maintain a running count of the items in inventory.

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