Class 7

Question 1

Why would you not order the RARR amount or maintained the recommended line point?

Answer 1

Buyers knowledge and experience
Market
Customer
Man Made events
Competition
Mother Nature

Question 2

Sales Analysis (what, who and whom)

Answer 2

Heart of inventory control and management

Question 3

Receiving (inventory in)

Answer 3

Driver of sales

Question 4

Pricing Review

Answer 4

Don’t try to compete on price alone
ERP methodically searched for the customer’s price based on your pricing hierarchy
Your pricing hierarchy starts with your cost

Question 5

Supply chain planning
5 S’s

Answer 5

Source, stock, and store

Question 6

Order Processing
5 S’s

Answer 6

Sell and Ship

Question 7

Sales Order Ticket Types
Immediate Invoice

Answer 7

Cash, Check, or credit card taken when the order is placed
Allocates stock

Question 8

Sales Order Ticket Types
COD

Answer 8

Collect on delivery - pick up or deliver to customer
Allocates stock

Question 9

Sales Order Ticket Types
Pick Ticket - For both cash and on account

Answer 9

Updates normal sales history buckets
Updates its demand
Schedule delivery

Question 10

Sales Order Inventory Types
Inventory Shipment

Answer 10

Updates sales buckets
Updates item demand

Question 11

Sales Order Inventory Types
Special

Answer 11

Updates sales buckets
Does not update item demand

Question 12

Sales Order Inventory Types
Vendor Direct Shipment

Answer 12

Ships directly from the vendor to the customer
Updates sales buckets
Does not update item demand for purpose of re-order

Question 13

What drives the ERP?

Answer 13

sales

Question 14

Inventory Management is a blend of

Answer 14

Art (knowledge and experience) and Science (technology)